Auto Insurance
Auto Insurance is a “must-have”, no matter where you live! KOA Insurance Agency can help you find the right auto insurance policy and coverage for your specific needs, whenever you buy a new or used car. You may also need to reconsider your present policy if your family situation changes. Because marital status, number of children, and asset levels may change over time, you should review existing policies from time to time to ensure adequate coverage.
Below are some FAQs that may help answer some of your questions. Click on the question to view the answer.
Owning a car involves several risks. When a car accident occurs, people may be injured and vehicles (or other property) may be damaged. Damage can also occur through theft, vandalism, or natural disasters. Auto insurance can protect you against these risks. Insurance companies provide auto insurance through personal auto policies (PAPs). A PAP is a contract between you and your insurer, specifying each party’s rights and obligations. Essentially, your insurer promises to provide specific coverage for you in return for your payment of a premium.
Why do you need it?
All states require you to be financially responsible when driving a car. Depending on your state, you may be required to purchase auto insurance or post a bond. State law (and/or your lender) often requires you to purchase at least a minimu amount of auto insurance. You may find it prudent to purchase greater coverage, however, in order to protect your auto investment, pay for necessary medical expenses, cover your legal liability, and cover any additional losses related to driving. Consider the following: if you cause an accident and the other driver suffers damages over and above your insurance limits, your personal assets and future earnings may be put at risk.
What do you need to know?
First of all, you need to know how to read and understand an auto insurance policy. Next, you’ll want to balance cost against desired coverage. Finally, you should evaluate and compare the various car insurance products to ensure that you get the best deal possible.
Understanding your PAP
Your policy is broken into sections. It discusses types of coverage, rights, and obligations under the policy, and exclusions or limitations. Types of coverage include liability coverage (injuries/damage you cause to other people and other property), medical payments coverage (medical expenses that will be paid–up to a specified limit–regardless of fault), uninsured/underinsured motorist coverage (losses caused by a driver who is uninsured or has inadequate insurance), and coverage for damage to your auto (accident damage and other damage or loss).
What is a deductible?
Regarding damage to your own auto, collision and comprehensive coverages may each include a deductible. A deductible is basically a risk that is self-insured. It’s an amount of money that you are required to pay before your insurance kicks in. Deductibles can come in any dollar amount, but are generally $100, $250, $500, or $1000.
Coverage vs. Cost
You need to balance coverage against cost. Choosing the appropriate level of coverage depends on a number of factors, including the value of your vehicle, the value of assets you must protect, the amount of money you can afford to pay out-of-pocket, and your tolerance for risk. If a claim against you exceeds your coverage limits, you will be personally responsible for the amount that exceeds the coverage. Your insurance agent can tailor the policy to your needs. To arrive at the cost of your premium, your insurer will consider the coverage levels you select and will use statistical information about you and your car. There are several ways to reduce the cost of your premium.
Evaluating and comparing coverages
Before purchasing auto insurance, you should evaluate and compare the various products offered to ensure that you get the best deal possible. Compare policies in terms of price, coverage, exclusions, and reputation of insurer. Shop around for different quotes, but make sure you are comparing similar policies. Also, weigh the policy cost against both coverage and quality of service provided.
When to get it?
You may need to purchase auto insurance whenever you buy a new or used car. You may also need to reconsider your present policy if your family situation changes. Because marital status, number of children, and asset levels may change over time, you should review existing policies from time to time to ensure adequate coverage.
SR22
Received A DUI Violation? Had An Uninsured Accident? Had More Violations Than Our Law Permits?
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Below are some FAQs that may help answer some of your questions. Click on the question to view the answer.
An SR22 Filing is a form issued by an insurance company which removes a suspension order placed by the MVDL on your driving privilege. The filing provides a guarantee to the Missouri MVDL that an insurance company has issued at least minimum liability coverage for the person making that filing; AND – that the insurance company will notify the Missouri Secretary of State should the insurance ever expire for any reason.
How Can You Help Me Get an Missouri SR22?
KOA Insurance Agency will help find the most affordable solution for you.
Who Needs a SR-22 Filing?
People who have a suspended license need an SR22 Filing to reinstate their license. Some reasons for suspension reasons: drunk driving violations; more minor moving violations in one year than the law permits; suspensions from unpaid fines or parking violations; uninsured accidents; failure to comply with other Motor Vehicle laws or regulations.
How do I get a SR22 Filing to reactive my driver’s license?
You must purchase minimum liability coverage on vehicles you own. If you do not own a motor vehicle, you must purchase “non-owners” liability coverage.