Premier Shield Car and Electric Vehicle Insurance Guide

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Premier Shield Car Insurance Guide

 

The “COST” to insure your vehicle (especially $50k+ Electric Cars & SUVs) is on the rise in 2021.

In fact, it can be a get fairly expensive cost (especially if you live in a city).

Learn from an expert auto insurance agent at Premier Shield how to navigate the complex auto insurance market as a consumer in 2021 & 2022.

 

Premier Shield’s Outlook & Key Takeaways for 2022 Auto Insurance

 

  1. Auto Insurance Prices will Continue to Rise (5-12% Nationally depending on the state/region/demographics) into 2022
  2. Did you know that there are a growing number of “bad drivers” coming onto the roads? They are driving up the number of accidents and claims each year. It’s True. (Ask an expert to learn more about “bad driving habits” that impact the price of your auto policy.)
  3. These bad drivers are using the “easy finance” environment and are “buying new and used cars“. Based on the vehicle car insurance company’s crash reports, “Most of these claims happen within the first 3 months of vehicle ownership”. Yup. Terrible drivers, that have never driven, don’t take drivers ED, buy NEW & USED  car and file a claim or have an accident (oftentimes resulting in total losses) in “LESS THAN 90 DAYS“. That’s alarming, to say the least.
  4. If you’re paying too much for car insurance in 2021 or your just save a spike for your 2022 car policy renewal, you can thank the “rising cost of labor“, “the vehicle chip shortage“, “the rising cost of car insurance parts due to global counterfeiters”, and “young and inexperienced drivers wreaking havoc on the US roadways”. Combat rising 2021 & 2022 car insurance inflation with a cheap car insurance quote from Premier Shield.

Give us a call at 1-774-847-7746 and we’ll explain more about the risks associated with vehicle ownership and how car insurance pricing works.

Many potential losses happen to drivers “that live in a city” and have “street parking” that is out of their control.

We’ll make sense of car insurance and simplify the process to make it easier for you!

Personal Auto Insurance for the car you and your family rely on daily.

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Bodily Injury Liability Coverage

Risk Factor

It’s easy to get distracted while driving. All it takes is an incoming text message, a fussy baby, or changing the radio station and your eyes are off the road long enough to crash into the slowing vehicle in front of you. As an owner/operator of the vehicle, you may be held financially responsible for any bodily injuries caused as a result of the accident.

Solution

Bodily injury liability covers your legal liability for a covered accident that involves injury to another person, up to the limit of liability you select. Purchase enough coverage to protect your assets should a claim be brought against you or if you are sued. You should also consider purchasing an excess liability policy which may provide additional limits of liability.

Property Damage Coverage

Risk Factor

When involved in an auto accident, you and your family may be financially responsible for any damage caused by your vehicle to someone else’s property. Usually this means damage to someone else’s car, but it can really be any property damaged by your vehicle.

Solution

Property damage coverage protects you if your car damages someone else's property, such as another car, a fence, or building front. When choosing your property damage liability limits, you should consider all of your assets, including your home and future earnings because if you don't have enough coverage to protect all of your assets, those assets could be at risk if you're liable for damages that exceed your coverage limit. Consider having a higher limit of liability coverage – it may help you avoid having to pay out-of-pocket after an at-fault accident.

Medical Payments Coverage

Risk Factor

Depending on the severity of the injuries suffered in an automobile accident, whether caused by you or by the other vehicle, it’s not uncommon for healthcare costs to run into the thousands of dollars, with a large portion being out-of-pocket expenses not covered by your health care plan.

Solution

Medical payments coverage can help cover all reasonable medical expenses and funeral expenses of covered drivers and passengers after an accident, regardless of fault. In most states, it's an optional addition to your car insurance policy.

Uninsured / Underinsured Motorist Damage Coverage

Risk Factor

What happens when the driver who hit you doesn't have enough liability coverage? Or, even worse, takes off? According to the Insurance Research Council, this happens more than you might expect. In fact, it is estimated that one in seven drivers go uninsured, leaving you to pay out-of-pocket for damages and medical expenses not covered by the other driver.

Solution

Uninsured/underinsured motorist damage coverage may compensate you for bodily injury and lost wages caused by an uninsured motorist, a hit-and-run driver, a driver whose automobile insurance company is insolvent, or a driver who has not purchased enough coverage to pay for damages.

Physical Damage Coverage

Risk Factor

Your automobile can be a fairly costly investment – one that is exposed to many potential losses caused by weather related events, theft, and other circumstances that may be out of your control.

Solution

Physical damage coverage can protect your vehicle if it is damaged in an accident (collision coverage), is damaged by something other than a collision (comprehensive coverage) with a vehicle or object or if your vehicle is stolen. This coverage is optional if your vehicle is paid in full, but it is coverage you should consider if you want to fully protect your vehicle.

Transportation Expenses / Rental Coverage

Risk Factor

When your vehicle is being repaired or replaced due to a covered loss, you may have to rent a vehicle to get you to and from your daily responsibilities without any interruption. Vehicle rental can get expensive, especially over an extended period of time.

Solution

Transportation expenses/rental coverage is an inexpensive option you can add to your auto insurance policy to pay for the cost to rent a temporary replacement vehicle or the cost of public or private transportation if your vehicle is ever in an accident. This coverage is available in a variety of daily limits.

Comprehensive Insurance Coverage

Make sure you look further into “comprehensive insurance coverage” if you own your car outright. Drivers add comprehensive coverage to their policy to protect your car or truck if you need a new side mirror or windshield, hitting an animal, if your car is stolen, damaged or destroyed by fire, or your vehicle is damaged in a car accident that doesn’t involve any other vehicles (hit-and-run accidents or not-at-fault accidents your coverage will depend on your state, ask your agent).

The proper car insurance coverage in place with the right insurance company. Otherwise, you’re putting yourself, your family, and others at risk.

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Premier Guide to Car Insurance

A car or truck is often your biggest asset aside from your home. Auto insurance protects against potentially crippling financial losses and the sheer inconvenience of being without transportation.

Insurance is there to protect our finances in the event of an accident.

Your car insurance policy should cover you, regardless of whether an accident is your fault.

It is up to you to decide how much vehicle insurance protection (Bodily-Injury or Property Damage Coverage) or “out-of-pocket” expenses (like deductibles) you can afford.

The “price you pay for car insurance” is determined by the insurance rating combination (age, location, vehicle, driving experience, and driving record) and the options in your insurance policy.

Automobile Insurance Coverage

If you’re new to driving (or you are like 80% of Americans) you may not fully understand your car insurance coverage choices, deductibles, and other things like “full coverage” and how some coverages are “required” and some coverage and optional.

Required Automobile Insurance Coverage

All states in the U.S. (with the exception of New Hampshire) require drivers to carry “motorist liability insurance” or “basic liability insurance”.

These required state minimum coverage will vary depending on the state you live in.

What is the minimum required coverage?

Remember, not all vehicle insurance policies are created equal.

Some auto insurance policies simply meet legal requirements (commonly called ‘State Minimum Insurance‘.

In most states, this means your auto insurance will cover the damage you cause to other cars in collisions.

However, auto insurance in some “no-fault states” (like Massachusetts) will also cover your own car or truck.

Additionally, the law usually states that auto insurance policies must cover some medical bills that result from a car crash.

Premier Shield State Required Minimums by State

At Premier Shield, our auto insurance agents are licensed to offer you lower premiums (for basic and full coverage) car insurance policies in Massachusetts, Connecticut, New Hampshire, Rhode Island, Maine, South Carolina, New Mexico, Ohio, Texas, and Virginia.

Question: “What is the required state minimum coverage in Connecticut?”

Best Answer“: 25/50/25 State Minium Auto Insurance in CT (According to the most recent CT Department of Insurance & CT.gov laws about auto insurance and Premier Shield Insurance agents as of August 2021), “Currently the state of Connecticut requires drivers to carry minimum coverage AND legal requirements for insurance are $25,000 in Property Damage Coverage, $50,000 in Bodily Injury Coverage (Per Person) & $50,000 Bodily Injury Coverage (Per Accident), and $25,000 in Uninsured Motorist Bodily Injury Coverage (Per Person) & $50,000 in Uninsured Motorist Bodily Injury Coverage (Per Accident)”.

In Connecticut, underinsured motorist coverage provides reimbursement for injuries caused by an uninsured driver. Your underinsured motorist coverage will cover you for any damages that are not covered by the insurance of the at-fault driver. This optional coverage cannot be reduced by any payments from other sources, such as the liability insurance of the at-fault driver.

For example, if you have uninsured/underinsured coverage of $300,000 and you sustain $400,000 in personal injuries caused by an at-fault driver with $200,000 in bodily injury liability, without underinsured conversion coverage you would only be able to collect the $200,000 from the other driver’s insurance plus $100,000 from your own underinsured coverage, which equals your $300,000 limit minus the $200,000 collected from the other driver’s insurance. Conversion coverage could allow you to collect $200,000 from your own coverage.

Learn more about Premier Shield's personal car insurance in Maine

Q:”What is the required state minimum coverage in Maine?”

A: “Best Answer50/100/25 State Minium Auto Insurance in Maine (According to the most recent Maine Bureau of Insurance infomation and ME laws about auto insurance and Premier Shield Insurance agents as of August 2021), “Currently the state of Connecticut requires drivers to carry minimum coverage AND legal requirements for insurance are $25,000 in Property Damage Coverage, $50,000 in Bodily Injury Coverage (Per Person) & $50,000 Bodily Injury Coverage (Per Accident), and $25,000 in Uninsured Motorist Bodily Injury Coverage (Per Person) & $50,000 in Uninsured Motorist Bodily Injury Coverage (Per Accident) The laws in Maine also requires a minimum of $2,000 per person in medical payments coverage; this covers medical expenses incurred by you and your passengers. Limits of $5,000, $10,000, $25,000 and even higher are available at a relatively inexpensive additional cost.”

“What is the required state minimum coverage in Massachusetts?”

Question: “What is the minimum car insurance in Massachusetts?”
Best Answer”: 20/40/5 State Minium Auto Insurance in MA (According to the most recent Division of Insurance & Mass.gov laws about auto insurance and Premier Shield Insurance agents as of August 2021), “Currently the state of Massachusetts required minimum coverage & legal requirement are $8,000 in PIP Coverage (Personal Injury Protection, $5,000 in Property Damage Coverage, $20,000 in Bodily Injury Coverage (Per Person) & $40,000 Bodily Injury Coverage (Per Accident), and $20,000 in Uninsured Motorist Bodily Injury Coverage (Per Person) & $40,000 in Uninsured Motorist Bodily Injury Coverage (Per Accident)”

“What is the required state minimum coverage in New Hampshire?”

Best Answer”: None. There are No laws or Minimum Car Insurance requirements in NH

“What is the required state minimum coverage in New Mexico?”
“What is the required state minimum coverage in Ohio?”
“What is the required state minimum coverage in Rhode Island?”
“What is the required state minimum coverage in South Carolina?”
“What is the required state minimum coverage in Texas?”
“What is the required state minimum coverage in Virginia?”