Auto Insurance Overview
Cordova Insurance Agency understands how important it is to have the right type of car insurance. Auto insurance is a requirement for all motorists in the state of Wisconsin, and it helps motorists lower their financial exposure in the case of an accident. By paying for auto insurance each year, an insurance company shares your risk in the case of an accident. Premiums are primarily dependent on a few factors, such as your driving history, credit history, age, gender, and the type of car you drive.
Examples of losses, depending on your coverage, can include property damage or theft, liabilities such as bodily injuries, and medical costs. The state of Wisconsin mandates that all drivers need to have a minimum liability coverage of $10,000 for property damage, $25,000 for the injury or death of one person, and $50,000 for an injury or death of two or more people. Having uninsured motorist coverage of $25,000 or $50,000 for bodily injuries is also mandatory in Wisconsin. Uninsured motorist coverage covers you in case a driver who does not have auto insurance causes an accident to occur.
Car Insurance FAQs
How much auto insurance do I need in Wisconsin?
The Wisconsin minimum auto insurance requirements are designed to provide a small level of protection in the event you damage someone else’s property, or you cause harm to another person. In Wisconsin, drivers need a minimum of $25,000 per person and $50,000 per accident for Bodily Injury Liability Coverage and $10,000 per accident for Property Damage Liability Coverage.
What is the best deductible?
The best deductible is what you can afford to pay out of pocket when you file an auto insurance claim. The higher the deductible, the lower your premium will be, and vice versa. A higher deductible means your accepting a more significant portion of the risk yourself. It is best not to take on more risk than you can afford.
What is “full coverage?”
There is no such thing as “full coverage” insurance. Full coverage auto insurance is a term that is used to suggest you have chosen protection that goes beyond the minimum coverage required by your State. It typically includes collision and comprehensive coverage, medical payment coverage, and uninsured and underinsured motorist coverage.
How can I save money on my car insurance?
You can save money on your car insurance by avoiding moving violations, crashes, DUIs, and other incidents. By having a clean driving record, you may also qualify for a safe driver discount. Students may qualify for good student and student-away-at-school discounts. Your vehicle’s anti-theft devices and safety features may also provide more discounts. Paid-in-full, multi-car, and prior carrier discounts are also common.
How long does an auto accident affect my insurance?
A crash won’t impact your car insurance premiums forever. After about three to five years, your rates should recover. Exactly how long this takes will depend on the type of accident as well as the company you are insured with.
Is buying direct cheaper than buying through an agent?
Buying direct is not always cheaper than buying through an agent. You might think that cutting out the middleman would result in cheaper car insurance rates, but when it comes to insurance, this isn’t the case. In fact, an independent agent, one that represents many insurance companies, can often save you money.
What is the best auto insurance company?
The best auto insurance company differs per individual. No insurance company is objectively the best. It all depends on what you’re looking for. Do you want the best customer service, the broadest coverage, or the lowest rates? Or maybe you have unique coverage or underwriting needs? An agent can help you compare car insurance quotes from multiple insurance companies and find the right policy for your situation.
What is the best or cheapest auto insurance rate?
The best or cheapest auto insurance rate can be found by comparison shopping. Compare premiums as well as differences in coverage. An independent insurance agent can help. They can provide options from multiple carriers, along with the expert guidance you need to make a smart choice.
How do I switch to a new auto insurance company?
You can switch to a new auto insurance company at any time, but to avoid overpaying or violating state law, you do need to watch out for a couple of things. Car insurance policies are often sold for coverage periods of six months or one year. In some cases, you may be charged a fee if you decide to cancel your insurance policy early. You may also be entitled to a refund for the unused portion of the premium. You also want to make sure you have continuous coverage to avoid a coverage gap.
Why Auto Insurance is Important
Having auto insurance can save you a significant amount of money and trouble in the case of a devastating accident.
If you have a car accident, you may have to address a lawsuit or claim that requires you to pay for property damages, medical expenses, lost wages, and possibly wrongful death. If you do not have coverage, you could lose your savings and future earnings to pay for such surmounting losses. Also, should you ever be sued for damages by another party, your insurance company will provide an attorney and will defend your case.
Auto Insurance Coverage
The state of Wisconsin requires the following coverage in your car insurance:
- Liability Insurance for Bodily Injury: This coverage can protect you when you are at fault, and other parties sue for medical expenses, a loss of wages, and other losses such as pain and suffering.
- Liability Insurance for Property Damage: This type of insurance can cover property damage you have caused, such as a broken windshield or damaged fence. The most expensive property damage is that of the other vehicles involved in an accident. Imagine if you were at fault where you crossed the center line and hit a 2020 Cadillac Escalade. If totaled, you could be on the hook for more than $80,000.00. Property damage liability coverage can also cover government property, such as a light or street sign.
- Uninsured Motorist Coverage: Having uninsured motorist coverage can cover you, your family and other vehicle occupants if you are hit and injured by an uninsured driver or by a hit-and-run driver. However, property damage is typically not covered.
The state of Wisconsin does not require the following coverage in your auto insurance, but optional coverage includes the following:
- Medical Expense Coverage: Medical or funeral payments can be covered for you or others who are injured or killed during an accident when you were driving. It can also include coverage if you get hit by a car while walking or riding as a passenger in another vehicle. Examples of coverage include hospital bills, x-rays, and rehabilitation services. Often, what’s covered are expenses not already covered by health insurance, such as deductibles and copays.
- Collision and Comprehensive Coverage: Collisions are covered even if you are at fault, such as if your car overturns or if you are involved in a hit-and-run by another vehicle. Comprehensive coverage takes place if your vehicle gets damaged due to a fire, vandalism, wind, or hitting a deer, which is quite common in Wisconsin. Moreover, comprehensive coverage kicks in if your tires are stolen, or a flood damages your car.
- Underinsured Motorist: Underinsured motorist coverage raises your bodily injury protection amount based on how much you purchased if the person at fault has lower coverage limits than needed to cover a claim.
Areas We Serve
Cordova Insurance Agency is the right agency to serve your auto insurance needs. We are located in Merrill, Wisconsin & we service Wausau, Tomahawk, Minocqua, Woodruff, and surrounding areas.
We strive to offer full services to all of our customers and work with our clients to give them the coverage they need while respecting their budgets. We are made up of licensed agents and offer multiple companies to work with. We are here for you through every detail, from the moment you call us for an auto insurance quote. We process claims and handle your billing concerns in an efficient and friendly manner.
There are many more special features you can choose to add to your auto insurance plan at Cordova Insurance Agency, such as Towing and Labor, rental reimbursment to name a couple. Towing and Labor coverage comes in handy in case of a flat tire, lockout, or need to jump-start your car. Rental reimbursment provides you with a rental car while waiting for your vehicle to get fixed or replaced.
Cordova Insurance Agency loves helping our customers feel at peace and confident with their auto insurance. We want you to feel protected, work within your budget, and give exceptional service. We will figure out the best discounts and deductibles for you-leave it all to us!
To learn more about auto insurance, contact Cordova Insurance Agency at (715) 536-9576. Our licensed agents will be happy to answer any questions you have.