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Transcript:
Speaker: Hi, I’m Shelli from Anderson & Associates and I have my friend Taylor O’Quinn here today and I have people all the time ask me about why do I need an insurance agent and you know how can an agent help me when I can go online and just get my own insurance and in the age that we live in especially with the younger generation I think that you know you’re brought up to think that; yes I can just do all these things on my own and this might be a little unfair to Taylor.
I’m gonna put her on the spot here and ask her about the coverages so she knows…. If she really knows what she’s purchasing when she goes online to get her insurance policy.
So, standard auto policy has five main coverages and the first coverage on your auto insurance is called Bodily injury.
So, I’m just curious, what do you think that Bodily injury coverage could be?
Taylor: Ahh… I’d like to say I don’t know (laughing). I have no idea.
Shelli: So, Bodily injury is actually the liability. The liability coverage and it protects you financially which I think the insurance tempo can be misleading at some times.
Bodily injury but it would be if something happens to somebody else and you were involved. So, that would be the first coverage and the second coverage that you have is Property damage which is almost pretty self-explanatory. I think most people do understand that but I don’t think they always think it through.
The state minimum is $10,000 of coverage for Property damage. So, if you damage somebody’s car and you’re responsible and you only had $10,000 in coverage and they’re driving a Mercedes.
Taylor: That’s not gonna cover it (Laughing)
Shelli: That’s not gonna cover it. So, you’re still responsible and if it was to go to court and they can garnish your wages and that could put lease on your homes so that they’re gonna get their money back.
So, yes as you get older and acquire more things, it’s something you wanna discuss with somebody what these coverages are and make sure you’re adequately covered.
The next coverage on our policy is Uninsured motorist. What do you think the Uninsured motorist would cover?
Taylor: If you have someone who didn’t have insurance or maybe.
Shelli: You’re kind of on the right track. What Uninsured motorist covers is you but medically.
So, it’s a coverage that you’re purchasing but it actually benefits you while the Bodily injury liability protects you financially but benefits the other driver, this coverage protects you medically.
So, for example you’re in a car accident and the person that hit you doesn’t have insurance and you go to the hospital. You do have personal injury protection; that’s a state law, everybody should require to have that but that capsized $10,000 and it has 20% to pay so you actually have $8,000 in medical coverage on a standard auto policy.
If you were to be injured and the other person involved doesn’t have any coverage, it’s not very much money at all.
A lot of people ask me well, I have health insurance, I’m gonna tell you right now if you go to the hospital and you find out an accident, the person at the hospital asks you what happened, why are here and if it was because you had an auto accident they want to get all of your auto information and it goes to your auto insurance and you strictly could get held up if you don’t have the right kind of coverage.
Taylor: Would they take from your auto insurance first or would they then take from your health or would they not take from your health at all?
Shelli: If you exhaust your auto insurance, it depends on the wording on your health insurance policy. Some of them would not cover, some of them will but again that’s why you need an agent and you need to know what your coverages are.
Taylor: Absolutely.
Anderson & Associates has been serving Manatee County residents with property insurance coverage since 1985. We offer homeowners (including mobile homes), car insurance, life, health, umbrella insurance policies. We’re a family-owned and operated insurance agency, and we treat you like family.
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Anderson & Associates Insurance Agency
810 8th Avenue West
Palmetto, Florida 34221
Phone: (941) 729-7494
