This week in our continuing series of Insurance articles, we will take a look at another of the highly important coverages to look for on any auto insurance quote you receive from any of the insurance companies out there, your loss of use coverage.
Loss of Use coverage is something every driver should strongly consider adding to their auto insurance policy. It is offered by many of the major insurance companies such as: Progressive, Safeco, Metlife, Geico, Statefarm, or Nationwide. These companies have developed this coverage to provide you with insurance so that if you lose your car in a loss – you’ll be adequately compensated for the price of a replacement during the time it takes to fix your vehicle.
Let’s say you are driving your car in Grapevine, or Frisco – or really any of the major DFW area – during high traffic hours. Someone in the lane next to you makes a lane change without looking, collides with your car, and severely it. You have to file a claim with your local insurance agent, and they are able to provide you with a towing service and body shop to take care of your car. (As a local DFW insurance agent located in McKinney, we know many car repair shops to help get you the most affordable price!) While your car is being repaired however, you are in trouble. The car in the shop is your only car, and you have to spring for a rental, and are out a significant amount of money.
This scenario has an easy fix however. With Loss of Use coverage on your auto insurance policy, you would be given compensation for a stated amount per day for up to thirty days, plenty of time for your car to get fixed, without you having to foot the bill.
Loss of Use coverage is an important aspect of any free insurance quote, for a very reasonable price. You can still find cheap car insurance from any of the major companies, while still maintaining the best coverage.
If you have any questions about Loss of Use coverage, you can find us on Facebook or email us at
contact@minsuranceagent.com . If you’re ready for a free insurance quote, you can submit your information on our
home page, or call us at
214-733-8400.
