5 Benefits of Pact Sport Utility Vehicle Insurance yesensure

5 Benefits of Pact Sport Utility Vehicle Insurance

Insurance for your sport utility vehicle (SUV) can protect you from liability and also make it easier to obtain financing on a new or used car. Keep reading for information about five benefits of getting a pact SUV insurance policy.

1) Automotive Collision Coverage

You may have noticed that the annual cost of owning a sport utility vehicle is higher than the cost of an average car. This is true even if you drive your SUV into the ground and refrain from buying a new one for as long as possible. There are several reasons that SUVs cost more to own, beginning with the high rates of depreciation they experience over time. Another reason why SUVs cost more is that they are riskier to operate than cars. The size and weight of SUVs make them increasingly dangerous when they collide with smaller vehicles, such as sedans and hatchbacks.

Your auto insurance policy will provide you with coverage against bodily injury and property damage in the event that your SUV collides with another vehicle or object. There are many types of automotive collision coverage available, but none include the benefits of classic comprehensive and collision. Comprehensive covers damage to your SUV that occurs as a result of something other than a car accident, such as fire and vandalism. Collision pays for repairs if your car hits another car or object. With these two coverages combined in one policy, you can protect yourself from damage caused by car accidents as well as those that happen when your SUV is sitting in the garage.

2) Personal Injury Protection

Personal injury protection (PIP) pays for injuries and other losses sustained by you and your passengers in a motor vehicle accident, regardless of who was at fault for causing it.  Since SUVs are riskier to operate than cars, you will need a more robust personal injury protection policy. PIP coverage is mandated by state law and must include certain minimum benefits. For example, some states require that your insurance company pay for at least 80 percent of your medical bills up to a specific dollar amount. Within broad limits determined by the size and type of your vehicle, the more PIP coverage that you buy, the higher your premiums will be.

3) Uninsured/Underinsured Motorist Coverage

You can further protect yourself and your passengers by purchasing uninsured and underinsured motorist coverage (UM/UIM). This type of insurance is especially important if you drive a large SUV or another type of car that has high collision and comprehensive premiums. UM/UIM coverage protects you if the person who caused the accident does not have insurance or does not have enough insurance to pay your medical bills. The minimum amount of coverage required by law is usually $25,000 per person and $50,000 per accident. You can buy more if you want, but it will raise your premiums.

4) GAP Coverage

The biggest loss most people suffer when their car is totaled or stolen is the difference between what they owe on it and how much they can sell it for as a “total loss.” This amount is called “gap” insurance, also known as “loan/lease payoff coverage.” Because your car loan or lease offers you a guaranteed minimum value for the vehicle, you will have to pay off this amount if you total your SUV or it is stolen. So, for example, if your SUV is only worth $8,000 but you still owe $10,000 on it, your insurer must apply the $2,000 difference to your loan or lease before issuing a check for the rest. This is called “gap coverage” and you need it if you financed or leased your SUV.

5) Rental Car Reimbursement

If you buy rental car reimbursement coverage along with your other coverages, it will help pay for a rental car if your vehicle is totaled as the result of an accident or theft. You can also buy a separate rental car reimbursement policy that covers more situations, such as when you are waiting for repairs to be done on your SUV after a smash-up. It will cost you extra, but it may be worth the extra money if you spend a lot of time on the road and you don’t want to worry about whether your current policy will pay for a rental car while yours is in the shop.

Is this a complete list of benefits?

No. This is just a sample of the coverage that Pact provides their customers so it doesn’t list all benefits. To find out more, contact your agent or broker for more information.

How much does this coverage cost per year?

The price varies depending on your vehicle, where you live and which optional coverages you select. Your agent or broker can provide a quote for you to review.

Is this just the beginning of other benefits that I have access to?

Yes. There are many other benefits that your Pact Sport Utility Vehicle Insurance offers you which include, but are not limited to: Legal Assistance, Personal Effects Coverage, Property Damage Liability and Replacement Auto Deductible.

How much does Pact Sport Utility Vehicle Insurance cost?

The price varies depending on your vehicle, where you live and which optional coverages you select. Your agent or broker can provide a quote for you to review.

In A Nutshell

We hope you’ve learned a few things about the benefits of Pact Sport Utility Vehicle Insurance and we look forward to hearing from you.

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