YOUR AUTOMOBILE INSURANCE QUESTIONS ANSWERED

Q. I have an older car that currently has a very low market value.
Do I really need to purchase automobile insurance?

A. Most states have insurance laws that require drivers to have at least some automobile liability insurance. These laws were enacted to ensure that victims of automobile accidents receive compensation when their osses are caused by the actions of another individual who was negligent.

It is often the case that the cost of repairing the damages to an older car is greater than its value. In these cases, your insurer will usually just "total" the car and give you a check for the car's market value less the deductible. Many people with older cars decide not to purchase any physical damage coverage.

Q. What factors can affect the cost of my automobile insurance?

A. A number of factors can affect the cost of your automobile insurance, some of which you can control and some that you can't.

The type of car you drive, the purpose the car serves, your driving record, and where the car is garaged can all affect how much your automobile insurance will cost.

Even your marital status can affect your cost of insurance. Statistics show that married people tend to have fewer and less costly accidents than single people do.

Q. The body shop is repairing my vehicle after an insured loss. Will my insurance company pay for used or new parts?

A. If the repair of the damaged part impairs the operational safety of the vehicle, the the insurance company will pay to replace it with a new part. But, for non-safety parts, unless your claim occurs during the first year after your car was manufactured, you are not entitled to new ones. This means that a three-year old door will not get replaced by a brand new one.

Q. What's the difference between Collision Physical Damage Coverage and Comprehensive Physical Damage Coverage?

A. Collision Physical Damage Coverage is defined as losses you incur when your automobile collides with another car or object. For example, if you hit a car in a parking lot, the damages to your car will be paid under your collision coverage.

Comprehensive Physical Damage Coverage provides coverage for most other direct physical damage losses you could incur, including theft. For example, damage to your car from a hailstorm will be covered under your comprehensive coverage.

Q. What should I do in the event of an auto accident?

A. This requires a rather lengthy answer, so please utiize this link to access that information.

Q. My teenage child is about to get a learner's permit. When do they need to be added to my policy?

A. Drivers are added to the personal auto policy when their license is issued, not when they get their learner's permit.

Q. My teenage child will have his own car. Should I insure it in the child's name on a seperate policy or add it to my existing policy?

A. As a general rule, it is less expensive to insure a child on the parent's policy rather than on a seperate policy in the child's name. Remember that the title and the name on the policy need to agree.

 

Contact Woodland Insurance Group LLC

P.O. Box 1298
Wilmington, NC 28402
T: 910-833-8978
F: 910-833-8979
nicole@woodlandinsurancegroup.com

 
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