Tag: M & M Insurance Group

Most US states require you to carry auto insurance if you are taking your vehicle on the road. Every state has its requirements depending on whether it is a no-fault state. In Chesterland, OH, the experienced independent insurance agents at M & M Insurance Group can help you review your auto coverage and suggest the best carrier for your needs. 

When your bill is renewed

Most auto insurance policies renew every 6 or 12 months. When it is time to renew, your insurance company will send you either a paper copy or a digital copy of your policy. The front page of the policy is the declaration page. This is a synopsis of your policy and an easy way to see your coverage at one glance. Always look it over; if anything doesn’t seem right or the rate has jumped, it’s time to find out why. 

When you add a new driver

When you add a new driver, especially a young driver, it is important to review your coverage to ensure it reflects what you need. You may want to add full coverage as well as roadside assistance. 

When something in your life changes

Life changes, and you may want to reconsider some of your coverage when it does. You may wish to return to basic coverage when your car gets older. You may want to add more liability coverage if you add a teen. If your insurance is too expensive, you may want to raise your deductible, which can significantly impact what you actually pay. 

When you want your auto insurance reviewed by an agent in Chesterland, OH, call our office at M & M Insurance Group. 

Understanding the Actual Cash Value (ACV) is vital for your financial expectations and for assisting you in making a fundamental decision about the right coverage during the underwriting process in Chesterfield, OH.

Actual Cash Value (ACV)

ACV represents the worth of your car when it is damaged. The calculation of this value depends on various factors, such as the vehicle’s age, condition, and current market demand. Depreciation is a significant factor in determining ACV, which represents the decrease in value over time due to wear and tear. For instance, an older vehicle will usually have a lower ACV than a newer model of the same make and condition.

When you file a claim based on ACV, you receive reimbursement equal to your vehicle’s worth at the time of the loss after deducting any applicable deductible amount. Thus, you may not receive sufficient reimbursement to purchase a new vehicle of a similar make and model, particularly if your car has undergone significant depreciation.

Replacement Cost

Replacement cost coverage differs from ACV in that it covers the expense of replacing your vehicle with a brand-new one of similar make, model, and features without deducting depreciation.

Choosing the Right Coverage

Deciding between ACV or replacement cost coverage depends on your preferences. While ACV coverage might be more affordable, it often results in lower payouts for older vehicles. On the other hand, replacement cost coverage provides excellent financial protection but typically comes with higher premiums. An educated decision depends on the perceived value, financial circumstance, and coverage preference.

M & M Insurance Group Helps You Choose

M & M Insurance Group is here to help guide you and demonstrate how auto insurance can benefit you in the long term. Our team services the Chesterland, OH area. Contact us today.

If you own a fleet of vehicles, you may want to pursue automotive insurance upgrades. Review the following add-ons, and then modify your policy if needed.

Vehicle Makes and Models

Before reviewing any add-ons, prepare a list of the vehicles part of your fleet. The types of add-ons you select may depend upon the actual make and model of each vehicle you own.

How you plan on using each vehicle will also affect the type of coverage you will need.

Towing Equipment

It is common to use vehicles for towing. Trailers, lights, hitches, and other towing equipment used for transport should be insured on your automotive insurance policy.

If you will be using multiple vehicles for towing, this may increase the amount of automotive insurance coverage you will need.

Distance

The distance you will be driving each of the vehicles in your fleet could influence the type of coverage you need. Take into account that your driving patterns could change periodically.

If so, you should plan on modifying your insurance policy as needed. The distance you drive should be calculated routinely.

Please keep track of each vehicle you own and the amount it drives. Then, submit this information when ready to update your automotive insurance policy.

Contact M & M Insurance Group

Consult with an agent who serves Chesterland, OH. An agent who is part of the M & M Insurance Group will prepare an automotive insurance policy for your personal fleet.

Here at M & M Insurance Group serving Chesterland, OH and the surrounding neighborhoods, safeguarding your vehicle against hailstorm damage with comprehensive insurance coverage is crucial. Understanding how auto insurance covers repairs after hailstorms is essential for protecting your vehicle effectively.

Hailstorms and Auto Insurance: Repair Coverage

1. Comprehensive Coverage: Auto insurance policies with comprehensive coverage often include protection against hailstorm damage. This coverage extends to repair or replacement costs resulting from hail damage.

2. Policy Limits and Deductibles: Review your policy limits and deductibles related to comprehensive coverage. Understanding these aspects helps assess the financial impact on repair costs after a hailstorm.

3. Reporting Hail Damage Promptly: In the event of hail damage, promptly report the incident to your insurance provider. Timely reporting ensures a smoother claims process for repair coverage.

4. Assessment of Damage: After a hailstorm, assess the extent of damage to your vehicle. Document the damage with photos and gather the necessary evidence for your insurance claim.

5. Professional Repair Evaluation: Seek a professional evaluation of the hail damage. An assessment from a reputable repair shop can provide a detailed estimate for repairs, assisting in the insurance claim process.

6. Choosing a Repair Facility: Your insurance policy might recommend or require using specific repair facilities. Ensure compliance with these guidelines for seamless repair coverage.

7. Claim Filing Assistance: Our group offers support in navigating the claim filing process. Our experts can guide you through the necessary steps to ensure your hail damage repairs are covered.

Comprehensive Protection for Your Vehicle

Contact M & M Insurance Group today to safeguard your vehicle against hailstorm damage. Let our team serving Chesterland, OH and neighboring areas craft a customized policy for comprehensive coverage tailored to your needs. Protect your vehicle effectively. Reach out to us today!