What does full coverage insurance actually cover?

There are rules about how much insurance you need to drive in Centennial, CO. Your minimum coverage for an auto insurance policy from Compass Insurance will have at least

  • $25,000 per person for bodily injury
  • $50,000 per accident for bodily injury
  • $15,000 per accident for property damage.

You will also need a certain amount of uninsured/underinsured motorist coverage unless you waive that in writing.

Minimal Coverage Doesn’t Protect You Very Much

You can easily see that those limits are not very high and that even one bad accident with someone injured could end up costing much more money than that. When your insurance has paid out those amounts, you will be responsible for making up any difference. Your driving privileges could be suspended if you fail to pay, and it could have an adverse effect on your credit.

A full coverage policy could give you a higher policy limit, in the areas you feel the most vulnerable. You could be protected for a much higher amount.

Other Benefits of Full Coverage

Collision Insurance is not required by law but will protect you for damages done to your own vehicle after a collision with another vehicle.

Comprehensive Insurance protects you against yet more kinds of danger, such as fire, severe weather or theft.

The main difference between minimal coverage and full coverage is that minimal coverage only helps you out with liability, or what you owe if you are at fault in an accident. Collision and comprehensive coverage will help you to repair or replace your own vehicle.

If your vehicle is paid off and isn’t very valuable, it may not be worth it to get full coverage. If you want to see if full coverage could help you, please feel free to call Centennial, CO Compass Insurance today for a free evaluation and quote.

When do you no longer need collision coverage on your car?

When you have an older vehicle that is of low value, you might be better off dropping collision coverage. Colorado requires you to have liability coverage-meaning insurance to cover damage you cause in an accident. The professionals at Compass Insurance in Centennial, CO can help you decide which policies are best for your situation. 

If you are in an accident and are at fault, liability coverage will cover damage to the other vehicle. In that situation, the collision coverage would pay for damage to your car. This would also be true if you ran your car into a tree or something and had damage.  If you owe on your car, the lending company probably requires you to have collision coverage. 

If you own your car outright there is a situation where you might want to not have collision insurance. The insurance company will not pay more than the market value of the car, regardless of how much coverage you have. If your car is worth $3,000, and it sustains $4,000 in damage, you will only get $3,000. The insurance company will declare it a total loss and will pay you only the market value.  You would still get the market value if you had collision insurance, so there is a bit of a risk factor to consider.

If you choose to go without collision insurance, another option is to have uninsured motorist coverage. While coverage is the law, not everyone obeys the law, so it is possible to get in an accident with a driver who has no insurance or means to pay for the damage he or she caused. In that case, uninsured motorist coverage would pay for your car’s damage if the accident were not your fault.

The value of your car that you own outright is the key factor in deciding what coverage you need. Call or visit the Compass Insurance agency in Centennial, CO and let them help you find the coverage that is right for your situation.

Should I Add My Teenage Child To My Insurance?

Your auto insurance policy should be as comprehensive as possible. When you have a teenager in your household in Centennial, CO, it’s important to add them to the policy. This way, you know that they are covered in the event that they get into an accident or cause any kind of property damage.

Having the Coverage

Teenagers need to learn how to drive. As they go through the learning phase, they are likely going to be using your vehicle. The moment that they get behind the wheel, they should be covered by your insurance policy.

You never know what could happen. As they are learning to drive in a parking lot, they could damage your vehicle or private property that is located nearby.

Even after they get their driver’s license, they are likely going to be borrowing your car. Teenagers are often expensive to insure because insurance companies view them as high-risk. They haven’t had the opportunity to drive in every scenario, which can lead to various problems on the road.

By having them on your insurance, it ensures that you can file a claim in the event that something happens.

How to Add Your Teenager

The moment your teenager gets a learner’s permit, you will want to add them to your insurance policy. This will ensure that they have the coverage when they’re behind the wheel of your car. If they have their own vehicle, adding another vehicle to an existing policy can be more affordable than having them open a completely new policy. Compass Insurance can compare rates from multiple companies to help you find the best option for adding your teenager to your policy.

By working with Compass Insurance, an agent can work closely with you to determine what type of insurance coverage is going to provide you with the most protection in Centennial, CO.

 

What benefits do I get from full coverage instead of just liability?

Driving in Centennial, CO can be a necessity, and you may be wondering how you can save money on the insurance policy you obtained through Compass Insurance. If you bought full coverage insurance, you may be wondering if you really need it and if there are some portions you don’t need. 

Do You Still Have a Loan On Your Vehicle? 

If you still owe money on your vehicle, you won’t be able to cut down to liability only policy. Because the entity that gave you the loan still has an interest in the vehicle, you need to keep the full coverage until the note is paid off.

In fact, if you try to change your policy and your bank finds out,  there is probably a clause in your contract that gives them permission to add a full coverage policy and charge you. 

The Difference Between Full Coverage and Liability Only 

Any auto insurance policy will cover liability, with minimum coverage starting at the legal requirement mandated by law. Those limits are not very high, and if you are found liable for an accident resulting in a large amount of damage and/or injury, you will be responsible for paying the difference if your limits aren’t high enough.

A comprehensive policy offering full coverage will cover damages to your own vehicle, and can also include other important coverages. Depending on the policy, you may be eligible to get a rental car when your car is damaged or add roadside assistance. 

Getting in a crash in Centennial, CO  can be expensive. If you want to make sure you’re covered as much as you’re comfortable, call  Compass Insurance and we can answer all your questions. 

These Three Things Might Increase Your Auto Insurance Premium

Insurance companies spend years collecting information about your driving record, life, and estimated safety. Compass Insurance wants to give you the heads up on your auto insurance premium, and we intend to help you get the lowest prices possible.

As your Centennial, CO source of auto insurance, and we’re giving back to the community which made us successful. The three factors below might be unexpectedly boosting your auto insurance premium. Take them to heart, and keep your costs as low as possible.

Factor One: Your Vehicle’s Make and Model

Surprisingly, your vehicle’s type matters. As a general rule: More expensive vehicles cost more, insurance-wise. A sports car, for example, needs more coverage than a four-door family vehicle. If a vehicle is deemed to be “safer,” you’ll get lower quotes.

Factor Two: Your Area

In the eyes of an insurance company, not all areas are created equal. City drivers pay higher premiums than suburban drivers. The risk of vandalism, theft, and accidents is simply higher in city environments. If you’re living far away from any urban areas, you might save even more money on your insurance.

Factor Three: Your Claims History

You’re a valued customer, but you’re also an investment. Safe drivers can get lower premiums than drivers who’ve caused a lot of accidents. If you have an extensive history of insurance claims, you might have higher premium costs than most.

Make sure you’re paying attention to the road, and talk to your Compass Insurance agent if you have any questions. As your Centennial, CO auto insurance provider, we want to make sure you’re as safe as possible. Before picking an auto insurance policy, ask one of our providers what your estimated prices are. While costs differ on a driver to driver basis, you can likely get discounts for any number of reasons.

Auto Insurance Centennial CO: What You Must Know

Insurance companies support the US economy by pumping millions of dollars into the economy annually. Most of the money goes into advertising as competition for clients stiffens. Most people complain that auto insurance is high and at the end of the day watch the adverts with jaundiced eyes. Compass Insurance serving Centennial, CO offers a few tips for keeping your insurance costs low. 

Compare Auto Insurance Costs
When was the last time you compared your insurance costs? And when did you evaluate the same? Most car owners or drivers do not take time to assess their insurances; instead, they stick blindly to one provider. 

The formulas used by most insurance firms depend on moving targets which vary tremendously. Some will offer high costs when risks become more while others only provide a price break. It is also worth noting that the rates of cover rely on your previous records and statistics, including:
•    Chances of accidents 
•    Likelihood of driving a stolen car 
•    Age 
•    Sex marital status 
•    Car model 
•    Credit score

Look For New Policies Early  
Just because you have a current policy for 6 months should not stop you from exploring other options. If you find a better deal and decide to switch providers you can be reimbursed the amount for the remaining period. At the same time, don’t wait until your policy expires because you will make yourself vulnerable to financial losses and it might increase your insurance rates to be reinstated.
Take Advantage of Discounts!
Insurance discounts go a long way in cutting down costs. As you shop around comparing rates, don’t forget to check available discounts. Some discounts to look for include:
•    Policy for more than one car 
•    Car with all safety features 
•    Giving annual premiums all at once 
•    Possessing a driving diagnostic device in your car

Centennial, CO is one of the safest cities in Colorado and Compass Insurance is humbled to provide auto insurance to all residents. Get in touch with us. Our online tool is also available.  

3 Odd or Unusual Auto Insurance Facts

Most people find auto insurance a complete mystery. There are basic facts of course, but who can really name all of the clauses listed in their policy? The reason why insurance can be so complicated is that it is so complicated. However, it can also be somewhat fun to learn about too. Compass Insurance wants the people of Centennial, CO to know these odd or unusual facts about insurance. 

New Hampshire Doesn’t Require Auto Insurance 

That’s right. If you were to move to the great state of New Hampshire, you technically don’t have to get auto insurance. As you might imagine, there are few people who take advantage of this rule though. Because in the end, drivers are still responsible for themselves and for other drivers if they happen to make a mistake on the road. Most people know that they won’t be able to cover an accident out of pocket, or at the very least they wouldn’t want to. 

Windshields Are Normally Covered 

It depends on the type of policy you have, but unless you have liability only, windshields are usually covered under your insurance. The reason why you likely haven’t approached your insurance company if you had a spider web across your windshield is that most people have deductibles that are higher than the cost of the repairs. 

Insurance Isn’t the Same Wherever You Go 

No matter how much it may seem like all companies are the same, some simply are better than others. Compass Insurance serves the people of Centennial, CO, and we know just how to meet their needs so they stay safe whenever they get in their cars. Give us a call today if you’re looking for auto insurance coverage that’s just right for you. 

The Role of Auto Insurance in Collision Repair

When a collision occurs in Centennial, CO, your auto insurance will kick in to pay for the other person’s car or property damage. You may notice that has nothing to do with repairing your vehicle.

How auto insurance deals with a collision can vary based on several factors. At Compass Insurance, we feel it’s important you understand how auto insurance works when it comes to collisions.

What is a Collision? What Isn’t a Collision?

For the purposes of insurance, a collision occurs when your moving vehicle hits another car, or anything else. Sometimes, a car that rolls can fall under the collision category as well. If something other than another car causes damage to your vehicle, it’s not a collision.

Does Auto Insurance Pay for Collision Repairs?

Your insurance won’t pay for damage to your vehicle unless you have collision coverage specifically. Do you have collision coverage? It’s not an insurance requirement in Colorado. That means there are many drivers out there who may incorrectly think their insurance will cover repairs to their vehicles.

Always remember basic insurance covers the other driver and their property so you don’t have to with your own money. Anything beyond that will typically require additional coverage such as collision and comprehensive. If you don’t yet own your car, then it’s possible the bank or lender requires you to have collision coverage. This also applies to leasing a vehicle.

What Happens if You Don’t Have Collision Coverage?

In a best-case scenario, the other driver can hold all or most of the blame. In such a case, their insurance will pay for repairs to your vehicle. That only applies to collisions with another insured driver. In all other cases, you will have to see to your own repairs if you don’t have collision coverage.

At Compass Insurance, we offer collision coverage in and around Centennial, CO. We also offer various other options that can protect you and your property. Help us to help you figure out just how much collision coverage you need. Don’t leave your vehicle unprotected. Contact us today for a quote. 

Protect Your Vehicle With These Upgrades

Outside of your home, your vehicle is one of the largest investments you’ll make. With your vehicle, regular oil changes, maintenance and car washes can help extend the life of the vehicle, but these services do not protect it (outside of avoiding early rusting). Here at Compass Insurance, we want to help protect your vehicle, whether you live in Centennial, CO or somewhere else. So here are a handful of upgrades you can protect your vehicle with.

Wheel Locks

If you have any kind of rims on your vehicle, you need to protect the auto upgrade. Rims are easily stolen and quickly sold, so if your rims are ever ripped off you’re likely to never track the wheels down. With wheel locks it becomes extremely difficult to remove the rims without damaging the wheels, rending the wheels worthless to those looking for quick cash. 

Bumper and Brush Guard

Your vehicle’s bumpers are now designed not necessarily to sustain a direct impact but to keep those inside the vehicle safe. While everyone inside the vehicle is safe, the front of your vehicle may sustain heavy damage. With a bumper and brush guard, you can protect your headlights and bumper from fender benders. This way, you can increase the value of your vehicle with the upgrade while limiting possible damage. 

When it comes to protecting your vehicle, these are some of the very best upgrade options available. whether you have the upgrades factory installed, do it yourself or go into an auto garage, each of these upgrades will reduce the chance of theft and cut down on your vehicle damage in the event of an accident. If you have other questions regarding auto insurance, make sure to contact Compass Insurance as we can help you out, whether you live in Centennial, CO or in a neighboring community. 

Why Cleaning Your Car Can Lower Your Insurance Cost

Cluttered cars are a common problem, but few in Centennial, CO probably know how they can affect their insurance. While not the biggest problem in the world, it is one we at Compass Insurance have noticed multiple times and is something we can help you better understand.

A Cluttered Car Is More Dangerous

While it is easy for a car to end up getting cluttered excessively over the years, this is a dangerous situation for a variety of reasons. First of all, it creates a driving environment that is more difficult to handle and which could cause accidents. Insurance companies note these problems and will penalize you if you refuse to clean out your car.

Clutter Can Also Decrease Fuel Efficiency

One thing that few probably understand is that clutter weighs down their vehicle and can cause decreased fuel efficiency. How? By creating extra drag that overpowers the engine. Unfortunately, this problem can raise your insurance by decreasing the vehicle’s efficiency and making it less environmentally safe.

Debris In Cluttered Cars Is Troubling

Imagine getting in a car accident in a cluttered car. All those items are suddenly airborne and could end up hitting your or anyone else involved in the accident. They could even spill out of the vehicle and cause a mess that would cost a lot to clean up. In this instance, your premium would go up.

Clean Your Car Up Immediately

The first step to avoiding increased insurance due to clutter is to clean it out of your car. Take a garbage bag out to your car, clean all obvious trash out, and remove any other items that simply don’t need to be there. In this way, you create a safer driving experience that will avoid increased premiums.

At Compass Insurance, we understand the dangers of cluttered cars and want to help our customers avoid this problem. So if you live in Centennial, CO or the surrounding area, please contact us today to learn more tips on how to save money on your insurance premiums.