Auto Insurance FAQ - GIA | Denver, Colorado

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Auto Insurance FAQ

How does a company determine what rates to charge?

Companies generally set rates that will allow them to pay the costs of expected claims and other business expenses. In most states, a company's rates must be reviewed and approved by the state's insurance department before a company can put them into effect.

 

Am I covered when renting a car?

Coverage when renting a car is provided while in the U.S., its territories and Canada -- as long as you have comprehensive and collision on one of your own insured vehicles. If you rent a car and travel outside of these geographical areas, it is recommended that you purchase Auto Insurance Coverage.

 

How does the "Disappearing" Deductible work?

We reward you for having a 5 year clean driving record (including 3 years with us as a new policyholder) by reducing your Collision deductible by $150. For each additional year you are insured with us and maintain a clean driving record, we will take another $50 off the deductible. Over time, your deductible may "disappear" altogether. In some states, we are prohibited from reducing your deductible below $100.

 

Why do you provide discounts to people who take driver safety courses?

Defensive driving courses refresh old skills and teach new ones to help prevent accidents. The driver's initiative in taking steps to improve driving skills combined with his or her awareness of defensive driving tactics leads many companies to offer a discount.

 

Do I need full coverage (comprehensive and collision) on my older car?

This is a personal decision, and you will want to consider the cost of purchasing this coverage, the current value of your vehicle, and the amount you could afford to pay out-of-pocket if your car is damaged. If you have an older car with a low book value, this coverage may only pay a nominal amount in the event of a major accident, or if your car is totaled.

 

Why is it important to report an accident that is not my fault?

Most insurance policies require that you notify the company when you've been involved in an accident, whether or not you were at fault. Immediately reporting a claim allows the insurance company to fulfill its responsibility to the policyholder by conducting a proper investigation and protecting the policyholder's interests should there be a need for legal representation.

 

Why does my spouse have to be listed on my policy?

Most auto insurance policies automatically provide coverage for a licensed spouse, even if the spouse has separate coverage with another company. To better protect you, a licensed spouse must be listed on your policy, even if he/she is not living in your household or has coverage through another company.

 

Why do I need auto insurance?

Your car has two unique qualities. First, it is probably one of the most expensive things you own. Insurance protects your investment and guarantees you a way of coping with the expense of accidents, vandalism or theft, as well as securing your financial responsibility to the bank or other institution lending the money to buy your vehicle.

Second, when you drive, you are operating a powerful machine, weighing one ton or more and capable of moving at over 100 miles per hour. You are responsible for the safety of your passengers, your fellow drivers, other people's property, pedestrians and yourself. Insurance helps you live up to that responsibility by ensuring your ability to cover the costs of potential damages or injuries.

You are also required by state laws to be financially responsible. This requirement is best satisfied through your insurance coverage. In most states, insurance is a prerequisite to registering your car. So if you want to drive your own vehicle, you must be insured.

 

What is Agreed Value?

Agreed Value is a coverage offered by some insurers that allows you to insure your antique auto for the appraised amount of your antique.

 

What is the difference between an Antique and Classic Auto?

Hartford defines an antique auto as being manufactured at least 25 years ago, and driven primarily in parades and exhibitions, and infrequently for other purposes. Most insurers defines a classic auto as a motor vehicle of the private passenger type which is 10 or more years old and may be used on a regular basis. Its value is significantly higher than the average value of other autos of the same make and model year.

 

Is this a 6-month or 1-year policy?

Auto insurance is offered in a 6 month policy or a 12 month policy.

 

What features and benefits are you giving me?

Every policy from The Auto Insurance Program from The Hartford includes:

  • No Drop Promise
  • Replacement Cost Coverage for New Cars
  • 6-Point Claim Guarantee
  • 24/7 Claim Service

You can choose to upgrade your policy with benefits such as:

  • Accident Forgiveness
  • A Disappearing Deductible
  • Waiver of Deductible for a Not At Fault Accident
  • and more...

 

Why do I have to list young drivers on my policy, even if I don't allow them to drive my vehicles?

Automobile policies are written to automatically cover any licensed relatives living in your household. Therefore, coverage is afforded to them, via your policy, regardless of whose vehicle they are operating.

 

How quickly do you handle claims?

The first step is up to you! The quicker you report a claim via our 24-hour claim hotline, the quicker we can settle simple claims right over the phone the same day. Our commitment to you is that we'll settle your claim as quickly as possible. The exact length of time depends on the type of claim, extent of damages and other specific circumstances. Special program features, such as the Customer Repair Service Program, help move the process along.

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