Automotive Insurance

Rachel JensenDebbie Wilson

Ashley Etter

Video

http://www.youtube.com/watch?v=5OH_gUt4Oww

Allstate Deer Commercial

noun insurance against loss due to theft or traffic accidents

Definition

• Insurance policy where you as a customer must pay a certain amount of the bill and the insurer pays the rest.

Copay

• The fee a policyholder agrees to pay to an insurance company periodically for an insurance policy

• Monthly, quarterly, annually, or semiannually

Premium

• The amount of expenses that must be paid out of pocket before an insurer will pay any expenses.

Deductible

• Everyone that drives• Branch depends on personal need• Required• Not given by employer

Who Needs It?

• Accident• Weather• Animals• Injury • Financial relief

Why

• National Average– $1,451 year– 120.92 monthly

Average Cost

• 98% of the US has Auto insurance

Percentages

Liability Insurance

CollisionInsurance

ComprehensiveInsurance

Uninsured MotoristProtection

Medical/ Personal-InjuryProtection

No-FaultInsurance

GapInsurance

• GEICO• Allstate• State Farm• American Family• Progressive• 21st Century• Esurance

Companies

Bodily Injury Liability(BI) 25,000-50,000 $45.60 Property Damage Liability(PD) 10,000 $55.70

Uninsured Motorist Bodily Injury 25,000-50,000 $5.60

Type Limits Premium

• Male 25 = $22.82 monthly

GEICO

• Male 45 = $37.15/month

Type Limits PremiumBodily Injury Liability(BI) 25,000-50,000 $37.80 Property Damage Liability(PD) 10,000 $43.60

Uninsured Motorist Bodily Injury

25,000-50,000 $5.90

GEICO

• Male 65= $39.94/month

Type Limits PremiumBodily Injury Liability(BI) 25,000-50,000 $44.20 Property Damage Liability(PD) 10,000 $50.90

Uninsured Motorist Bodily Injury 25,000-50,000 $6.50

GEICO

Story #1

• Someone’s truck was stolen.• Insurance pay the person, they also said they

got the person’s truck back.• Went allover the place and did a lot of paper

work to get their truck back.• In the end the person went to get the truck,

but the insurance took it instead.

Story #2

• Someone got in a hit-and-run fender bender• Report could not be filed • Went all over to do paper work to fix car• Insurance no longer covered

• http://moneyning.com/budgeting/7-types-of-car-insurance-which-ones-do-you-really-need/• http://newsimg.bbc.co.uk/media/images/47563000/jpg/_47563546_tree_on_car.jpg• http://www.vinnumbersearch.net/images/flood-damaged-car.jpg• http://bloximages.chicago2.vip.townnews.com/wiscnews.com/content/tncms/assets/v3/editorial/3/6a/36ab7a00-61cd-11e1-b8d7-001871e3ce6c/

4f4c666ddfc68.image.jpg• http://markandrewholmes.com/bambi-2.jpg• http://1.bp.blogspot.com/_khxwvnm2EKk/TSCuHAx-xyI/AAAAAAAAKas/6FejRpVUWgU/s400/car_in_tree.jpg• http://www.beloblog.com/ProJo_Blogs/newsblog/carcrash.jpg• http://www.manpowerhealth.com/wp-content/uploads/2011/04/wpid-1303350782_personal-injury-claims-ri.jpg• http://www.beyond.ca/i/insurance-car-accident.jpg• http://cdn.crooksandliars.com/files/uploads/2009/07/money-exchanging-hands-thumb_084b1.jpg• http://blogs-images.forbes.com/benkerschberg/files/2011/04/contract.jpeg• http://images.thecarconnection.com/med/thief-stealing-a-car_100334366_m.jpg• http://www.maconpersonalinjurylawyer.co/library/images/stock-images/accidents/two-cars-in-accident-1.jpg• http://plus.maths.org/issue46/outerspace/corrupt.jpg• http://1.bp.blogspot.com/_WAi2txkagVM/Swg_yrmMfqI/AAAAAAAAHec/iZnzcGM4Jr4/s1600/ford_explorer_crashed.gif• http://www.oldtownautobody.com/oldeTowneAutoBody/Pic00003.jpg• http://paulboylan.files.wordpress.com/2011/02/relieved_man_yx5f.jpg?w=450• http://www.carinsurance.com/Average-Premiums.aspx• http://stores.footsolutions.com/graphics/reduce_recovery_time.jpg• http://www.stickerart.com.au/images/products/0601-0222.gif• http://www.debthelperusa.com/wp-content/uploads/2011/03/medical-bill-300x268.jpg• http://4.bp.blogspot.com/_7kbJythr9sc/SfyxcnnXGQI/AAAAAAAABmg/P7cH0vf1wuI/s400/shrugging.gif• http://www.visualphotos.com/photo/2x4756202/African_American_male_police_officer_shrugging_BLD046126.jpg• http://www.studentloaninfo.org/blog/wp-content/themes/SLB_new/images/auto-loans-students.jpg• http://www.allfordmustangs.com/forums/attachments/mustang-gt500/22241d1167321321-totalled-mustang-shelby-gt-500-shelby1.jpg• http://www.newsucanuse.org/wp-content/uploads/2011/12/impatient-businessman-150x150.jpg• http://www.motorwayamerica.com/editorial/shock-poll-%E2%80%94-16-percent-drivers-say-they-had-one-point-no-insurance• http://kclau.com/insurance/car-insurance-claim/• http://www.expatforum.com/expats/mexico-expats-living-mexico/91218-auto-insurance-experience.html

Sources