Even though our customer service representatives are available to answer all of your questions regarding your auto insurance policies, here are answers to the top seven most common ones we hear. Please feel free to call your NEC insurance agent if you have additional questions, or want to increase your coverage. Our goal is to help you feel more comfortable with how well you protect yourself and/or your family.
- Do you have to buy uninsured motorist coverage on an auto policy?
Yes, an insurance company cannot issue a contract of automobile liability coverage in Missouri without including uninsured motorist coverage on the policy.
- What does uninsured motorist coverage cover?
Uninsured motorist coverage applies to bodily injury only. Your uninsured motorist coverage will protect you from hit-and-run drivers. It covers you for injuries sustained while in your car or as a pedestrian when hit by an uninsured driver. It does not cover damage to your vehicle.
- Can the driving/accident records of my child/spouse have an impact on my ability to buy auto insurance?
Yes, the driving record of any licensed driver in your household will affect the decision of the insurance company to insure your vehicle(s). It can cause you to be turned down for insurance coverage or to pay high risk insurance premiums. You may want to ask your agent or insurer about a driver exclusion endorsement.
- Can a finance company take out insurance on my car and charge me for it?
Yes, if under the terms of your loan, you agree to provide comprehensive and collision insurance and you fail to do so. The lending institution can obtain a policy to protect its interest. These policies typically do not offer liability insurance coverage to meet the state’s financial responsibility (mandatory liability) laws.
- Is it legal for an auto insurer to place me in a high risk policy if I have not been insured in the last 30 days?
Yes. Current Missouri law does not prevent an insurer from doing so. This situation can be avoided by paying your premiums on time to avoid lapses in coverage.
- Can the insurance company tell me where to have the repair work done under either homeowners or auto?
Yes, if the insurance company is willing to guarantee the work. You always have the option to go to the repair shop of your choice, but you will be responsible for the additional costs. Your insurance company may only be obligated to pay for the lowest estimate.
- What are the minimal insurance protection limits required in Missouri?
The minimum amount of insurance you can purchase to remain in compliance with Missouri laws is a liability policy which provides $25,000 of protection per person for bodily injury, $50,000 per occurrence, and $10,000 for property damage. With today’s automobile and health care costs, most drives feel such low limits expose them to more risk than necessary. For more protection, they typical choose a policy that provides $100,000 per person for bodily injury , $300,000 per occurrence, and $100,000 of protection for property damage.
To learn more about the additional services offered by NEC Insurance such as commercial insurance or financial planning, please contact your insurance agent, or feel free to contact Joe Bosse, President at 636.271.2481.
NEC is one of the largest independent insurance brokers in Missouri offering business insurance, personal insurance, risk prevention, and financial services. Contact us today for more information at 636.271.2481 or visit NECins.com.