Welcome to Dan Burghardt Insurance, where we’re committed to helping you navigate the complexities of auto insurance with clarity and confidence. Today, we’re diving into the world of liability-only auto insurance – what it covers, how it impacts your coverage, and how mileage plays a crucial role in determining your insurance premiums.
What is Liability-Only Auto Insurance? Liability-only auto insurance is designed to protect you financially in case you’re responsible for an accident. It covers specific liabilities such as property damage and bodily injury to others involved. This type of insurance does not cover damage to your own vehicle.
Understanding Your Coverage When you opt for liability-only auto insurance, it’s essential to grasp what it includes. Typically, it covers costs related to:
- Property Damage: If you damage someone else’s property (e.g., their car, fence, or mailbox) in an accident you cause, liability insurance helps cover the repair or replacement costs.
- Bodily Injury: If others are injured in an accident you’re responsible for, liability insurance assists in covering medical expenses, rehabilitation costs, and potentially legal fees if a lawsuit arises.
It’s crucial to select coverage limits that align with your financial situation and potential liabilities. At Dan Burghardt Insurance, we’re here to help you understand your options and tailor your coverage to best protect your interests.
Understanding Mileage and Insurance Premiums One key factor that influences your insurance premiums is your annual mileage. Knowing how far you drive each year can impact the cost of your insurance policy significantly.
Average Mileage and Its Impact The average American drives approximately 13,476 miles annually. If you exceed this average, insurers may categorize you as a high-mileage driver, which can lead to higher premiums. Conversely, if you drive fewer than 7,000 miles per year, you may qualify for discounts as a low-mileage driver.
Calculating Your Annual Mileage To determine your annual mileage accurately, consider these steps:
- Commuting Miles: Calculate the distance you travel to work daily and multiply it by the number of workdays in a week. Then, multiply that weekly figure by 52 to get your annual commuting mileage.
- Weekend and Regular Trips: Track your mileage over a few weekends to estimate your weekend driving. Consider other regular trips such as grocery shopping or visits to the gym.
By adding up these figures, you can calculate your total annual mileage. This number plays a pivotal role in determining your insurance premium, as insurers use it to assess your risk profile.
Shopping for the Best Insurance Deal Once you have an accurate estimate of your annual mileage, it’s wise to shop around for insurance policies that best suit your needs and budget. Utilizing tools like Insurify’s quote comparison calculator can simplify this process, helping you find competitive rates tailored to your circumstances.
At Dan Burghardt Insurance, we’re dedicated to empowering you with knowledge and providing personalized insurance solutions that offer peace of mind. Whether you’re exploring liability-only auto insurance or comprehensive coverage options, our team is here to guide you every step of the way.
Get in touch with us today to learn more about how we can assist you in securing the right auto insurance coverage. Together, let’s ensure you have the protection you need on the road ahead.
