What Are The Types Of Auto Insurance Available?

Bye Financial Group, LLC in Grand Ledge, MI wants you to know that almost all states require a person to purchase auto insurance per state laws. Choosing the best option that suits your needs can be a confusing task, especially if you are new to driving. States will not even allow you to register your car to obtain license plates if you do not have proof of auto insurance.  

A typical auto insurance policy, other than the minimum coverage a state may require, would include most of these types of coverage:

  • Liability –  covers bodily injury and personal property which pays for bodily injury, medical expenses, and property damage. 
  • Collision – pays for the costs to your car if your car is hit by an object or vehicle. 
  • Comprehensive – damages to your vehicle caused by Mother Nature or vandalism
  • Personal Injury Protection (PIP) – pay for medical and rehabilitation expenses, work loss, funeral costs, and replacement services.
  • Uninsured/Underinsured Motorist Coverage – provides for liability and property damage coverage for you if the damages are caused by an uninsured or underinsured motorist.

Michigan is a no-fault auto insurance state which requires the following minimum coverage independent as to who is at fault:

  • $10,000 per accident for property damage for an accident that occurs in another state.
  • $40,000 per accident in which kills or hurts several persons
  • $20,000 per person hurt or killed in an accident

In a no-fault state, the types of policies must conform to the no-fault rules in that fault is not determined. For instance, if your car is damaged or if there is a personal injury you must provide any collision and PIP coverage to protect yourself and cannot look to the other driver to pay, even if that driver was at-fault.

The agents of Bye Financial Group, LLC in Grand Ledge, MI are experts in auto insurance.  Please call for more information and to learn how to get a quote! 

 

What can happen if I drive without insurance?

At Bye Financial Group, LLC, we understand how important your independence is, and how important it is for most people in Grand Ledge, MI to be able to drive. Being able to provide insurance is an important part of driving in Michigan, and there are serious legal consequences if you do not follow the law. When it comes to driving, the consequences may get worse as you go on, with the penalties getting worse as you accumulate offenses.

If you are found to be driving without insurance, you can be charged with a misdemeanor, which is punishable by up to one year in jail. You may also have your driving privileges suspended, and you could be ordered to pay fines. The court can also order a combination of all of these punishments, which seems impossible to people who have gotten caught up in the cycle as they find it difficult to get back on track. 

Even drivers who have insurance but fail to carry proof that they have insurance coverage may get a license suspension, even if they provide proof at a later time that they were covered. You can also be sued for all resulting damages if you drive a vehicle and are involved in an accident, and you can even be held liable if you lend your vehicle to someone who is uninsured and that person is involved in an accident. 

Driving with insurance is a big deal in Michigan, and you want a policy that works for your circumstances. If you are in Lansing or Grand Ledge, MI and want to make sure you are protected by the auto insurance that suits you best, call Bye Financial Group, LLC today for a free quote. If you are in a hurry, try our online rating tool to get quotes on auto and home insurance.

3 Questions You Should Ask Your Agent About Auto Insurance

Knowing what you are covered for by your auto insurance company before signing any coverage is vital in protecting you against incurring any extra costs. Before approaching an agent, it’s important you have relevant questions to ask regarding the plan.

Having been in the sector for a long time, Bye Financial Group, LLC in Grand Ledge, MI has all the relevant information on three important questions to ask your agent.

Does my insurer have some discounts for me?

Many insurance companies offer bountiful discounts ranging from being a trusted customer, an associate of a particular organization, or if you are a student. Bye Financial Group, LLC in Grand Ledge, MI advocates that you interrogate your agent so that you be aware of such discounts. Besides, if your agency doesn’t offer such discounts, talk up your agent to link you with one which offers them.

What is covered in my auto-insurance plan?

Many auto insurance customers ask little about what’s covered in their plans. Enquire about each policy you are paying for from personal injury protection policy to property destruction liabilities, and etc. Your agent should explain in detail all the sensitive issues regarding the coverage for each policy in respect to damages or any deductibles which you may need to compensate.

Are there restrictions on how my family member or I will use my assets

Before purchasing any coverage, ensure your agent explains to you any restrictions regarding how you use your assets. He/she should explain if protections will be there for your family member(s) in case any damages or accidents occur during their period of usage.

The above questions should help you understand the services you’ll be paying for and open more room for discussion on how effective your insurance coverage will benefit you, your business, or family as a whole. Reach out to our offices to learn more and try our online rating tool to get a quote on auto insurance.

How Can You Protect Yourself from Uninsured Motorists?

Although the U.S laws have made it almost mandatory for every motorist to purchase auto insurance, there are still many people who have not insured their vehicles. According to recent statistics, in every eight drivers on the road today, one is not insured. The number might even be higher in some areas than others. The chances of being involved in an accident with a vehicle that is uninsured leaves you at risk to suffer significant financial loss. So how can you protect yourself from such instances?

Take Uninsured Motorist Coverage

An uninsured motorist policy is meant to secure you from drivers whose insurance is inadequate to cover damages caused to others. This insurance policy caters for damages created by others without insurance coverage. Having uninsured motorist coverage, also known as underinsured motorist coverage, will save you the stress of filing lawsuits against uninsured motorists.

Contact a Company That Understands You

If you want to secure yourself against uninsured motorists, then you need to seek the assistance of a reliable insurance company. Most companies are not open with their terms, and this results in the client being taken up and down when accidents occur. You need a company that will give you a complete breakdown of what uninsured coverage is all about and explains what is covered under this policy. This will help you determine whether the coverage will work for you or not.

If you are a resident of Lansing or Grand Ledge, MI, then you have an excellent opportunity to get quality services from Bye Financial Group, LLC. The company provides coverage against uninsured and underinsured motorists. You will also get advice on how to go about various accidents and claims processes.

Even if it is not mandatory to have an uninsured/underinsurance policy in your state, you should take one for security. You can contact Bye Financial Group, LLC in Grand Ledge, MI for assistance about this policy. Also, try our online rating tool for quotes on auto insurance.