Over and above the mandatory insurance cover that the Commonwealth of Pennsylvania imposes, there are a number of optional coverage’s. The lowest Car insurance rates in Philly are those associated with the minimum mandatory requirements which are medical benefits for you, bodily injury for the other party and property damage. As the cover is the bare minimum, so is the premium. In addition to these minimums, there is a wide selection of optional coverage’s that can be purchased.
* Uninsured motorist: This covers applies to you or any family member that was injured through an accident and the driver of the vehicle was uninsured. This cover does not apply to property damage.
* Underinsured motorist: Once again, this applies to you and your family and provides cover for injuries caused by the driver of a car which carried insurance, but not enough to cover the claims. This cover does not apply to property damage.
* Funeral benefits: This will provide cover of funeral expenses up to a given amount if you or a family member were to die as a result of a car accident.
* Loss of income: This provides for the payment of a certain percentage of your wages that are lost as a result of an automobile accident.
* Collision: This is not optional if your car has a lien against it. This provides for the payment of repair costs if your car was damaged in an accident. You can lessen the car insurance rates in Philly by increasing the collision deductable.
* Comprehensive: This covers for any damage to your car caused by fire, flood, vandalism, etc. It also provides cover in the event your car is stolen. Most lenders demand this cover until the loan is paid off. As with collision, the premium can be reduced by increasing the deductible.
* Accidental death: This pays a set amount to the named representative in the event you should die within 24 months from the date of an accident you were involved in.
* Rental reimbursement: This cover pays, up to a certain amount; the costs incurred to rent a replacement for a vehicle that is covered by comprehensive or collision insurance.
How are these rates determined?
The company or the agent of the insurance company that you have selected will ask a series of questions, the answers to which will determine whether they wish to insure you or not. This phase is underwriting and by law, an insurance company cannot discriminate against any applicant. When the insurance company agrees to sell you a policy, the answers that provided are used to determine the premium. There are a number of considerations, including the age of the car, the age of the driver, the driver’s history, the number of miles driven just to name a few.
For the best car insurance rates in Philly you will want to check Imperial Agency.com. They can offer same day quotes, on-line. Just fill in the questionnaire and expect a quotation by return.
