Category: Auto Insurance

The state does not require all types of auto insurance. However, Russ Richardson Agency, serving Birmingham, AL, wants you to understand your options. 

Liability

One required insurance covers the bodily injury of another person. The state has set standards for each harmed individual and for each accident. This amount could change at any time, so talk to us if you have any concerns. 

Property Damage

Along with covering liability for another person, you must have property damage insurance. You will have to abide by Alabama laws concerning minimum property damage policy limits. This may include coverage of another person’s damaged car, mailbox, house, street sign, or other object. 

Comprehensive

Comprehensive insurance covers many costs of damage occurring outside of driving. For instance, some policies might pay out for fires, depending on the cause. Others will cover damage caused by animals or falling debris. 

Collision

If your vehicle is involved in a crash, collision insurance can help you cover the costs. Some policies also cover collisions with objects or any time a single vehicle crashes. 

Uninsured Motorist

Uninsured motorists may “face civil penalties” set by the Alabama Law Enforcement Agency. That doesn’t stop other people from driving around without coverage.

We recommend you acquire this type of insurance just in case the other driver doesn’t have it. It covers you beyond what your liability insurance does. 

Personal Injury

Some auto insurance policies cover the cost of medical treatment and lost wages. The right policy will provide financial assistance for both you and your passengers if injured. 

Medical 

Medical insurance for drivers and passengers may cover additional treatment costs. It depends on your policy. However, coverage may include funding for doctor’s visits, ambulance costs, or surgery — any medical expense related to an accident. 

Russ Richardson Agency, serving Birmingham, AL, can help if you feel overwhelmed by all your auto insurance choices. Contact us as soon as possible if you have questions. 

Auto insurance is a critical aspect of responsible vehicle ownership, but it’s not a set-it-and-forget-it commitment. Regularly reviewing your auto insurance policy is essential to ensure that it aligns with your changing needs and circumstances. Russ Richardson Agency, serving the greater Birmingham, AL area, is here to explain when you should review your policy.

Yearly Policy Review 

Reviewing your auto insurance policy on an annual basis is a sensible practice. It allows you to evaluate any changes in your driving habits, vehicle usage, or personal circumstances that might affect your coverage needs. This ensures that you’re adequately protected and not paying for unnecessary coverage.

Life Events and Milestones 

Life events like getting married, having children, or buying a new car can significantly impact your insurance needs. When these milestones occur, it’s crucial to review your policy to make any necessary adjustments. Failing to do so may leave you underinsured or paying too much for coverage you no longer need.

Understanding Fluctuations

Auto insurance rates can fluctuate due to factors such as your driving record, the type of vehicle you drive, and changes in the insurance market. Regularly reviewing your policy allows you to take advantage of discounts or shop around for better rates, potentially saving you money.

We Are Here To Help

Reviewing your auto insurance policy on a yearly basis, during life events, and in response to changes in rates and discounts is essential for maintaining optimal coverage and saving on costs. If you’re looking for a new auto insurance policy in the greater Birmingham, AL area, or you are just looking to obtain estimates to compare pricing, Russ Richardson Agency can help you. Call or email us now to get started.

Drivers are often required to obtain full coverage from their lenders while they still carry a balance on their vehicles. And although this term is used frequently, full coverage is actually not a type of insurance on its own but refers to a bundle of several indemnification types. 

The liability portion serves to pay for damages that occur to the other motorist’s property when you’re involved in an accident that is your fault. This is also a legal requirement for Birmingham, AL residents, and a minimum of $25,000 per incident is legally mandated. In addition, this insurance will also take care of the medical costs and lost wages for the other party, and $25,000 is needed per person with a sum of $50,000 per wreck. 

Your bank has underwritten your vehicle and assumes financial risk when the car you are driving can be totaled or in need of major repairs. For this reason, a combination of collision and comprehensive indemnification help negate these hazards. Your Russ Richardson Agency representative can go into greater detail with you as to what is entailed. 

Collision indemnification takes care of costs related to events where your vehicle strikes another object. This can include a vehicle, lamp post, mailbox or other obstruction. Comprehensive extends to issues when you incur damage from falling tree branches, hail, sleet, or severe storms. 

Though it falls outside the purview of full coverage, you can also choose to obtain gap insurance that will zero out your loan in situations where an auto is considered a total loss and reimbursement at market value is insufficient to pay off the balance. 

Russ Richardson Agency Can Insure You 

We work with clients residing in and around the Birmingham, AL area, and we can tailor an automobile insurance package to meet your needs. Please reach out to us today via email or phone to schedule your office visit today.