Auto insurance basics (abbreviated)

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Learn the basics about auto insurance from PEMCO Insurance. This abbreviated version is geared toward high school students, or anyone else who wants to know the basics: how insurance works, why you need it, how to keep your rates down, and types of auto insurance coverage.

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  • Now let’s talk about other Auto coverages available or required.
  • Auto insurance basics (abbreviated)

    1. 1. Auto insurance basics for teen drivers
    2. 2. You’ll learn …• How insurance works, why you need it• How to keep auto insurance rates down• Types of auto insurance coverage
    3. 3. How does insurance work?• People pool money to guard against risk• The money pool pays for big losses• Insurance is not an investment• Where does $ go if you have no claim?• People with higher risk pay more
    4. 4. How to keep insurance rates down • Good grades (3.0 and up) help the most• The type of car does matter• Drive safely – avoid tickets, accidents• Do not phone or text while driving• Take advantage of discounts
    5. 5. How to keep insurance rates down • Speeding tickets are a good predictor of future accidents• With each ticket you get, the likelihood of a future accident increases• You pay higher premiums if you have tickets and accident
    6. 6. Auto policy coverages: Collision• Covers YOUR car - regardless of fault - when your car hits another object, gets hit, or overturns - a ‘deductible’ applies
    7. 7. Auto policy coverages: Comprehensive• Required if you have a loan• May not be needed on older, lower- valued cars• Covers vandalism, theft, acts of nature (weather, fire, etc.)
    8. 8. What do you think? True or false:• All cars require Comprehensive and Collision coverage.FALSE. If there’s no loan, Comp andCollision may not be needed onolder, lower-value cars.
    9. 9. Auto policy coverages: Bodily Injury Liability• Covers YOU for injury you cause to someone else – injury for which you are found liable• Required by law
    10. 10. Auto policy coverages:Property Damage Liability• Covers YOU for damage you cause to someone else’s property, damage for which you’re found liable• Required by law
    11. 11. Auto policy coverages: Underinsured Motorist Bodily Injury• Insurance is required by law• 20-35% of drivers don’t carry any insurance• Others carry only low limits
    12. 12. Underinsured Motorist Bodily Injury• Protects YOU if someone without enough insurance injures you - medical costs - lost wages - pain and suffering
    13. 13. Auto policy coverages: Underinsured Motorist Property Damage• Protects YOU if someone without any or enough insurance damages your car
    14. 14. Auto policy coverages: Personal Injury Protection• Protects YOU regardless of who is at fault in accident• Medical coverage – fills gaps in standard medical plans• Replaces income while you can’t work
    15. 15. Want to learn more?That’s just a tiny sample of our full presentation.To learn more, schedule a speaker from PEMCOto come speak to your class or PTSA.We can accommodate most requests in the PugetSound area, and some requests statewide.Contact: jonosterberg@pemco.com
    16. 16. The most important piece ofsafety equipment in any vehicleis the one behind the wheel.

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