Understanding Uninsured & Underinsured Motorists Coverage

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Usually when you get into an auto accident you swap insurance information and the at-fault driver’s insurance pays the claim. What if though, if you are involved in an accident with someone who does not have enough insurance to pay the damages? Maybe they don’t have insurance at all! This is where Uninsured and Underinsured motorists coverage would step in.

Underinsured Motorist Coverage 

In Pennsylvania everyone who owns and operates a vehicle is required to have insurance. Still though, not everyone has adequate coverage. This could be if a driver only carries state minimum limits, which sometimes is not nearly enough to cover injuries or medical expenses. Your underinsured motorists coverage would then pay when the other driver’s insurance is not sufficient.

Uninsured Motorist Coverage

 According to DMV.org it is estimated that 1 out of every 7 drivers are uninsured. Uninsured motorists helps to cover cost incurred after being in an accident with a driver carrying no insurance. You and your passengers would also have protection if you are involved in a hit-and -run accident.

Adequate Coverage

No matter what state you live in or what the required limits are, you should always make sure you have adequate coverage. Save yourself some stress by reviewing your policies regularly. If you have questions call Barrick Insurance at (717) 632-7270. Remember to protect yourself not only with enough insurance but also by being a safe, alert driver.

Understanding Uninsured & Underinsured Motorists Coverage

Choose The Right Life Insurance Policy

Life Insurance 2Does your family depend on your income? What would happen if you were to pass away suddenly? How would your family survive? The answer: life insurance. It can help replace your income in the event of your death, help pay your funeral and burial costs, create an inheritance for your children, pay estate taxes, and much more. But there is one problem with life insurance. Choosing the right life insurance policy can be confusing. Fortunately, we are here to help!

Choosing the Right Life Insurance Policy

  1. Term Life Insurance: You should consider term life insurance if you need life insurance for a specific period of time. This is because term life insurance is exactly what it sounds like. You can purchase this type of life insurance for a specified term. This type of insurance pays only if you die during the term of the policy.
  2. Permanent Life Insurance: You should consider permanent life insurance if you need life insurance as long as you are living. A permanent policy pays a death benefit whether you die tomorrow or live to be over 100. Because of this, premiums for permanent life insurance policies are generally higher than those of term life insurance policies.

Life Insurance Hanover

You’ve worked hard to obtain financial security. You understand the importance of protecting that financial security and the livelihood of your family. That is why you should choose Barrick Insurance. Feel free to give our office a call at (717) 632-7270.

Choose The Right Life Insurance Policy

Full vs. Limited Tort

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In the case of a personal injury claim, one of the first questions an attorney may ask is what tort coverage does a person have on their auto policy. When you buy car insurance, providers are required to give you the choice between limited or full tort. Many people do not fully understand what these options include and how they differ.

 The Difference

Limited Tort limits your right to sue for pain and suffering, except in cases of serious injury. There are other certain circumstances that you may have a right to sue. An example might be if the responsible driver was driving under the influence of alcohol or another substance. Remember that this applies to your right to sue. It does not provide protection from being sued if you are the at fault driver.

Full Tort does not limit your right to sue regardless of the extent of injury, as long as the accident was not your fault.

What is Considered Serious Injury?

The law defines serious injury as death, serious impairment of body function or permanent, serious disfigurement. If you have elected limited tort yet your injury is determined to be serious, you will still have a right to sue for non-economic damages.

Counting the Costs

Selecting limited tort can save you money on your premium, up to 40 percent in some cases. Although you are saving money it is important to keep in mind what the future could hold. It is hard to anticipate the long term affects that an accident can have on your health. It is important to discuss with your agent the coverage you have and what your options are. The team at Barrick Insurance would be glad to answer any question that you may have. Give us a call at (717) 632-7270.

Full vs. Limited Tort

What is a Personal Umbrella Policy?

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A Personal Umbrella Policy is pretty much what it sounds like, an umbrella over and above your existing insurance policies. It acts as an extension of coverage for your homeowners, auto, motorcycle, renters, and condominium policies. A Personal Umbrella Policy (PUP) provides protection against devastating claims and judgements.

Why the Need for Extra Protection

Although you already have insurance for your home, auto, condominium, or etc.., it may not be enough in some instances. For example, you may have coverage up to $250,000 on your personal auto policy but say you are sued for $1 million dollars. How will you come up with the other $750,000?  Consider the following examples where a PUP may be necessary:

  • You have a backyard BBQ this summer and a guest leaves the party intoxicated. On the way home that person is involved in a car accident, injuring himself and others.
  • Someone falls down the steps at your home and sues you, costing you all of your retirement funds, savings, etc.
  • You are on a family vacation at the lake and decide to rent a jet ski. You hit someone that was swimming in the water causing severe bodily injury.

Policy Options

An umbrella policy is rather inexpensive and is written in million dollar increments. Policy limits are largely based on income and any additional assets that someone may have. You can speak with an agent as to what would fit your personal needs and circumstances.

Is a Personal Umbrella Policy Right for You?

Having a Personal Umbrella Policy protects your home, retirement, bank account(s), investments, and much more. It is your personal decision as to whether you want to purchase the extra coverage. As an independent insurance agent, Barrick Insurance can explain available options and answer any questions that you may have. If you already have a Personal Umbrella Policy you should make sure that it is up to date. Feel free to give our office a call at (717) 632-7270.

What is a Personal Umbrella Policy?

The Need for ATV and Motorcycle Insurance

KTMSpring is the perfect time of year to get your motorcycle out. It can be a blast riding trails on a dirt bike or ATV. Although it is a fun sport, it can also be dangerous if you are not careful.

The Need for Motorcycle Insurance

Many people do not realize that they can get insurance on their dirt bike or ATV. If it is not driven on the main road they may wonder why they would need insurance. Here are some factors to think about:

  • There is a high theft rate of four-wheelers and dirt bikes
  • Your homeowner’s policy may not cover accidents away from home.
  • Public or State parks may require ATV insurance

Coverage

Coverage for your four-wheeler or dirt bike is similar to an auto insurance policy. The following coverages are important to consider:

Just as Important as Your Protective Gear

 Just like your riding helmet and boots, insurance can be a major safeguard. Ride with the peace of mind that you are protected. Call Barrick Insurance today for a free quote (717) 632- 7270.

The Need for ATV and Motorcycle Insurance

Comprehensive and Collision Coverage

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In the insurance world we like to use the term Full Coverage when discussing auto insurance. Maybe you have wondered what that means. Full coverage refers to an insurance policy that includes liability along with comprehensive and collision coverage. While Liability covers damage to another person, Collision and Comprehensive coverage are both designed to cover your own vehicle. Although they seem similar, they cover very different things.

Collision Insurance

Collision coverage helps to fix up or replace your own car after an accident regardless of who is at fault. It will pay for repairs associated with collision into another object such as:

• Crashing into another Car

•  Crashing into another object such as a tree, light post, curb, etc.

•   Rolling your vehicle over

 Comprehensive Insurance

Comprehensive insurance is at times referred to as other than collision. It helps pay for damages that are not caused by a collision. Examples of accidents covered would be:

• Fire

• Falling objects

• Theft

• Vandalism

Both Comprehensive and Collision coverage pay for damages as long as they don’t surpass your car’s actual cash value. Yes it is true that the higher your deductible, the lower your premium will be. However, if you are in an accident you will have enough to pay that high deductible out of your own pocket. If you are questioning what coverage is right for you call Barrick Insurance to speak with an agent.

Comprehensive and Collision Coverage

Coverage For Vacation Car Rentals

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You finally landed at your vacation destination and you are ready to pick up your rental car. As you review the rental agreement you notice part of the agreement is on the loss and damage insurance. What do you do? Should you buy their insurance or is your personal auto enough?

Should You Buy the Coverage?

Our answer to you would be quite simply, yes. We generally advise our clients to purchase the rental company’s insurance. Although your personal auto may extend to a vacation rental there are many things your policy will not cover. Here are a few examples:

  • Drivers not listed on your policy. So make sure that your friends are covered under their own insurance.
  • Rentals being used for business purposes. Your personal auto does not cover business use unless it is specified in your policy.
  • Driving outside of the U.S.
  • Renting for long term use (usually more than 28 days)

Loss Damage Waiver

Rental companies also give you the option to purchase the “Loss Damage Waiver”. This is a major thing to consider because it relieves you from having to pay for the loss of use of a vehicle, should an accident occur. If a car is in the shop, the rental company is losing money. They will expect you to pay the losses which can be several hundred to several thousand dollars. (Don’t rely on your credit card to pay losses unless you have researched the issue thoroughly.)

Vacations are supposed to be stress-free and good preparation is key. Reviewing your personal auto coverage is an important task to include in planning your trip.

For any further questions concerning your personal auto give Barrick Insurance a call (717) 632-7270.

Coverage For Vacation Car Rentals