What’s the difference between full coverage & liability only for car insurance?

 

Car insurance can be a tricky subject for anyone. How do you know whether your car needs liability only or full coverage? Do you know the difference? Has anyone ever explained it to you? Here are some key points about what each means and which makes the most sense for your car.

Liability only simply means that you are only insuring the bodily injury or property damage of someone ELSE. If you’re in an accident that is your fault your insurance will pay for the other party’s vehicle and their possible injuries. You would be on the hook to repair or replace your vehicle. However, if you’re in an accident that is the other party’s fault, THEIR insurance must pay for your damages to your car and potential injuries.

Full coverage means you are insuring for both the other person’s injuries and damages as well as for your own car’s potential damages. Keep in mind that there is are deductibles attached to this full coverage option that will come into play in the event of an accident. Also, it is important to note that this option is more expensive than liability only because the insurance company is taking on more risk in the event of an accident. Full coverage may also mean that you carry towing, rental reimbursement, and loan/lease gap coverage, but not all agents would consider that as a part of the full coverage option. Make sure you check on that prior to insuring your car.

Now that you know what the difference between liability only and full coverage is; how do you decide which one you should have? This can be complicated and in most cases it really comes down to personal preference.

Generally speaking, if your car is older (more than 10 years old) and has high mileage, you may want to consider having liability only. By the time you would pay your deductible and the extra cost for insurance, it might not be worth it to have full coverage on an older car.

Full coverage, on the other hand, is required when you have a loan on the car or it is leased. The bank will require you to carry this coverage so their loan will be repaid in the event you total the car in an accident. Even if the car isn’t leased or financed, this might be the right coverage for you if your car is newer and has low mileage.

Your insurance agent should be able to offer their advice on this subject by going over the items mentioned above. Feel free to call us at 440-236-5041 or email us at info@frankclarkeagency.com and we would be more than happy to offer our own advice. You can also complete the form below for a car insurance quote.  Just remember, though, the decision is ultimately yours.

Meet our newest family member!

Say hello to the newest member of the Frank Clarke Agency family!

Jameson Joseph Green was born 7/27/14 at 9:59am weighing 8 lbs. 2 oz. measuring 21″.

Frank is the proud great grandfather, Colleen is the proud grandmother, and Nikki and Sean are the proud aunt and uncle!

Congratulations Kristin & Donny!

jameson

Who Insures Improvements in a Leased Building or Office?

Before you remodel a leased space, review your coverage. 

 

If you lease an office and make improvements to the space—such as interior remodeling—you need to review your insurance coverage. Generally, if you’ve installed any after-the-fact alterations, it’s up to you, not the property owner or landlord, to insure them. 

For example, let’s say you’ve leased space for an auto garage and then install a vehicle lift. The lift may not be covered. If you leased space for your beauty salon or florist shop and install new sinks and counters, you should determine whether you need to insure those items too.

In the insurance industry, we call these changes improvements and betterments. Essentially, it means that you’re responsible in a leased space for insuring any alterations you have made, such as flooring, light fixtures, wall coverings, wiring, plumbing, cabinets, shelving or anything else that is attached to the ceiling, walls or floors.

Because these improvements might be essential to your business operations, it’s important to understand who has responsibility for replacing them if they become damaged. If you do not update your business property insurance to cover these improvements, you could be underinsured and without the means to fully repair or replace the improvements if a covered loss occurs.

With an Erie Insurance business policy, the improvements and betterments are included as part of your business personal property. Contact our agency for more information. 

Health Insurance Now Available!

Our office is now able to provide our customers another service! We can now quote your health insurance! Call our office for additional details!

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Another happy customer!

Here’s another lovely comment from one of our clients:

“The Frank Clarke Agency was highly recommended by my good friend. He said he didn’t get jacked around and his claim was handled quickly and timely. I’ve lived in Columbia for more than 50 years and I’ve never heard a bad word about this company. I was well pleased with the insurance agent, Nikki. I think Frank Clarke Agency will be the best company I have ever had. Thank you, Nikki, for a job well done!”
–Gene M., Columbia Station

Thank you, Gene!

Our Awesome Customers!

Here are some comments we’ve received from our outstanding customers:

 

“The Frank Clarke Agency has always worked very hard making sure I’m covered correctly for a great price.  They are there for me 24/7/365!” — Myron L., Columbia Station

“We have been with Frank Clarke for several years; they have saved us hundreds of dollars.  We’ve dealt mostly with Nikki, who is very helpful & always available!  They are GREAT!  Both of our sons that live in Ohio are also insured through Frank Clarke.” — Scott & Marian W., Berea

“Great people, great service!!  You really can’t go wrong!” — Christina M., Stow

“I’ve been dealing with the Frank Clarke Agency since January of 2000.  All of the staff have been extremely helpful and very professional providing immediate responses to all my needs.  Kudos to the staff and I would recommend them for all your insurance needs.” — Nadine P., Medina

“The Frank Clarke Agency puts my needs before their own.  It’s not just about the bottom line, but about helping me and my family.” — Linda F., Parma

Sean Puckett published in Insurance Magazine

Sean Puckett, our resident Nonprofit Specialist, was recently interviewed for Best’s Review.  Best’s Review is a leading insurance industry periodical.  He makes some great points about what types of insurance coverages that nonprofits should have.  Check out the article here:  Sean’s Article.

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What our customers think of us!

We recently received a very nice testimonial from one of our long time insureds.  Thank you, Nadine!

 

I’ve been dealing with the Frank Clarke Agency since January of 2000.  All of the staff have been extremely helpful and very professional providing immediate responses to all my needs.  Kudos to the staff and I would recommend them for all your insurance needs.

-Nadine Perry, Things to Move, Inc. (Medina, OH)

Why You Need Renters Insurance

TEN REASONS WHY YOU REALLY NEED RENTERS INSURANCE

 

  1. Your landlords insurance doesn’t cover your stuff.  If there was a fire, the landlords coverage would repair the building itself but will not cover any of your possessions.
  2. If you are put out of your apartment because of a fire or pipe bursting, your policy would pay your “additional living expense” to live somewhere else.
  3. If you are put out of your apartment because of a fire or pipe bursting, your policy would pay your “additional living expense” to live somewhere else.  The burglary rate per 1000 households is 53% higher for renters than for homeowner households.   Likewise, the theft rate is 41% higher for renter households.*
  4. Your personal possessions would be covered worldwide, like when you are on vacation and your suitcase and laptop are stolen from your hotel room.
  5. Your Liability coverage protects you if you’re sued and this coverage follows you everywhere. What if you throw a party and a guest slips and falls on your bathroom floor and sues you?  You would be covered up to your policy limit for the court judgment and legal expenses.  The same is true if your wayward golf ball injures someone else out on the course, or you accidentally trip someone on the dance floor resulting in a broken leg.  Accidents can happen anywhere.  You need to protect your assets and your future earnings against a judgment.      
  6. Renters’ policies also include Medical payments to cover the medical bills of an injured guest in your apartment.
  7. As a tenant, you could be liable for property damages.   If you leave the water running and it seeps down through the floor causing damage to property of the tenant below, you could be liable for the whole soggy mess.
  8. Renters Insurance is CHEAP!  For about the cost of one large pizza a month, $10-$20, you can protect yourself from a huge financial loss.
  9. There are usually discounts available if you purchase a renters policy from the same company that insures your car.  Sometimes the discount given on your auto policy almost pays for your Renters policy.
  10. The cost of replacing all your stuff adds up!  Take a moment and list all the things you couldn’t live without.  What would it cost you to replace your iPod, cell phone, game system, laptop, TV, golf clubs, all the clothes in your closet, your CDs and DVDs?    Can you afford to be without Renters Insurance? 

  *US Bureau of Justice Statistics, 2005 National Crime Victimization Survey

**NEW REFERRAL PROGRAM FOR 2014**

 

 

We have a new referral program for 2014.  For every referral you send us, we’ll send you 3 lottery tickets, enter you into a monthly drawing for a $50 gift card AND enter you into a yearly drawing for a 42″ HDTV!!

STARTING SENDING THOSE REFERRALS TODAY!!
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