Insurance 101
WHO, WHAT, WHERE & HOW
Philip “Charlie” Porter Insurance Agent
How to buy a car
If you buy from a dealership, dealership will take care of the DMV paperwork like smog check, title transfer, and registration transfer.
If you buy from a private party or individual you will need to go to the DMV * or AAA** (you need a towing and road service membership), pay the sales tax, pay to transfer the title, and the next years registration fees.
How to buy a car
* DMV Department of Motor Vehicle www.dmv.ca.gov
** AAA American Automobil Association www.aaa.com
You will need to get insurance before transferring and registering the vehicle.
Registration is paid annually. depending on the age of the vehicle you will need to get the car resmogged every two years.
How to buy a car
What to keep in your car…
and What NOT to…
INSURANCE COVERAGES
What do they do ?
INSURANCE COVERAGES
What do they do ?
Bodily Injury Liability ***
Property Damage Liability ***
Un/Underinsured Motorist Bodily Injury Liability ***
Medical
Comprehensive
Collision
Uninsured Motorist Property Damage
Loss of Use/Rental Car
Towing
*** Most Important Coverages
Definition of Common Insurance Terms
Liability insurance
Liability insurance is a type of insurance that protects you financially if you're responsible for someone else's injuries or property damage.
Pays for things such as ….
Collision coverage
Pays for physical damage to your car due to your car colliding with anything, or anything with wheels that collides with your car.
Anything with wheels…. Car, Bicycle, Shopping cart, Scooter, etc..
Comprehensive coverage
Pays for physical damage to your car for anything other than collision.
Full Coverage
Having Liability along with Comprehensive, and Collision coverage
Common
Terminology
Deductible- the amount you pay before the insurance company pays.
Premium- the amount of money you pay for the insurance. Most insurance is sold on a six month basis. You can also generally have payment plans. Full pay, two pay, or monthly EFT(electronic fund transfer).
Surcharge- the amount extra you will pay for insurance due to a citation, or at fault accident.
At fault accident- In California this is regulated. You have to be at least 51% at fault, and the insurance company pays more than $1000. Every Insurance Company must charge for at fault accidents in California. We can’t offer accident forgiveness in California. It is considered discrimination.
Traffic Violation- Also referred to as a moving violation, or ticket. Examples are Speeding, Wrong Turn, Running a stop sign, Running a red light, Evading tolls. And many, many more.
What to do in case of an accident
HOW DO I PURCHASE INSURANCE ?
Charlie Porter
Farmers Insurance:
PHONE:
SAVE THIS CONTACT INFO BY SCANNING THIS QR CODE
650-327-1313 Office
650-580-4441 Mobile
671 Oak Grove Ave Ste A, Menlo Park, CA 94025
EMAIL:
IN PERSON:
CONTACT:
Let’s look at example….
A person with 3 years foreign experience living on Stanford campus.
2020 Toyota Corolla
Just Liability
$ 30,000 per person / $ 60,000 per occurrence Bodily Injury Liability
$ 25,000 Property Damage Liability
$ 30,000 per person / $ 60,000 per occurrence Un/Underinsured Motorist Bodily Injury Liability
$ 1541.48 Total 6 Month Premium
Full Coverage
$ 30,000 per person / $ 60,000 per occurrence Bodily Injury Liability
$ 25,000 Property Damage Liability
$ 30 ,000 per person / $ 60,000 per occurrence Un/Underinsured Motorist Bodily Injury Liability
Comprehensive $ 1000 Deductible
Collision $ 1000 Deductible
$ 4284.48 Total 6 Month Premium
QUESTIONS ?
THANK� YOU !
Charlie Porter, Your Farmers Insurance Agent