Page 22 - AAA Central Penn - AAA Now! May/June 2015

AAA
One List Can Help Avoid
a Headache
AAA Says Grab Your Camera, Tour Your Home, Record Your Belongings
INSURANCE SERVICES
Resolve to Have the
Right Car Insurance
AAA Offers Tips on Getting the Right Auto Coverage
Never made that New Year’s resolution? AAA suggests drivers promise to check that they have the right insurance coverage for their cars. While virtually everyone who drives a car in the U.S. needs auto insurance, some haven’t taken a good look at their insurance policy in years. This means they could be putting their pocketbooks and valuables at risk.
“The first step in getting the proper protection is to make sure your auto insurance meets state requirements,” says Michael Bastendorf, Director of Insurance, AAA Central Penn. “Then,
you want to double check that your insurance will protect your personal assets, which could be at risk if you are in a crash. Those assets are everything from your home to your bank accounts.”
Before making a decision on how much coverage you need, also consider the six basic components of auto insurance:
• Bodily injury coverage is for injuries the covered driver (or policyholder) causes to someone else.
• Property damage liability pays for damage the covered driver causes to someone else’s property (including their car).
• Uninsured and underinsured motorist coverage reimburses
the policyholder, or a covered family member, if they are
the victim of a hit and run or an accident caused by an uninsured/underinsured driver.
• Medical payments (sometimes available as personal injury protection) pays for the treatment of injuries to the driver and passengers of the policyholder’s car.
• Comprehensive coverage provides reimbursement for damage caused by something other than a collision, like hail, a fallen tree, or vandalism.
• Collision pays for damage to the insured vehicle from a crash with another car or object, or from flipping over.
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When it comes to preparing for a disaster, most people have forgotten one very important thing. Research shows that more than half of American consumers don’t have an inventory of the possessions they’d want their insurance company to replace in case of a fire, theft, or other disaster.
“In the aftermath of a fire or other damage to our property, it’s likely many of us would be emotionally drained. The last thing we would want to do is make a list of everything we lost,” said Michael Bastendorf, AAA Central Penn, Director of Insurance. “Preparing in advance for an unexpected disaster could mean a faster return to normal life, and a little less stress along the way, including a more speedy claims process.”
HOME INVENTORY CREATION – 5 EASY STEPS
1) Grab your camera or smartphone and take a tour of your home.
2) Record everything you’d want your insurance company to replace. Don’t forget all the stuff in your closets and garage.
3) Pull together copies of sales receipts and any other documentation. Also note model and serial numbers.
4) Store your home inventory and related documents in a safe and easily accessible place, including online, with friends or family, or in a safe deposit box. Don’t rely solely on your home computer, which should always be backed up, in case of fire or a hard drive crash. 5) Add up the replacement costs for all of those items to make sure you have enough insurance. Double check, because not all policies cover the actual replacement costs. Also, in some cases, an additional endorsement may be needed for valuables like jewelry, cameras, furs, firearms, trading cards and comics, or other items. The availability of endorsements varies from state to state, however, so find out which endorsements are offered in your area.
Creating a simple home inventory helps you track what you own and what it’s worth. It can be invaluable in deciding how much insurance coverage you need, to say nothing of ensuring you are adequately protected if you ever need to file a claim.
Call your AAA agent to see what discounts you may be eligible for and what type of additional coverage you might need. Call (888) 787-7633 to speak to a AAA insurance representative.
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MAY/JUNE 2015
Now!