Auto Insurance

Philadelphia is also the birthplace of the constitution of the United States. Philadelphia is the fifth-largest city by population in USA and probably the most historic. Often called the birthplace of the United States— this is where the founding fathers read the Declaration of Independence from Britain publicly in 1776.

Pennsylvania’s largest city, Philadelphia, is home to 1.5 million people. The high concentration of cars makes it imperative that you have the best car insurance policy for peace of mind. The process of buying insurance can be tedious and overwhelming. We created this comprehensive car insurance guide on Philadelphia to give all the required information and make your purchase easier.

Important Auto Insurance Coverages

When you browse through your policy, you may see certain coverages and wonder exactly what they are, and why they’re on your policy. Let us clarify a few of the more important ones for you.

Collision Coverage — this is the part of your policy that covers your car in the event you damage the car itself somehow, as a result of an accident with a fixed or moving object like another car, a curb, a house, a guard rail, etc.

Comprehensive Coverage — this coverage also protects your car, but in the event that something else damages your car, that is not a fixed, or moving object. For example, theft, a rock that cracks your windshield while you’re driving on the highway, an animal you might hit, and so on.

Property Damage — suppose you damage someone’s car in an accident, or a guard rail, house, or some other property that belongs to someone else. This is the part of your policy that compensates the other person for that damage

Bodily Injury Liability — this coverage protects your financial interest in the event you injure another party in an accident. This is the part of your policy that pays that other party for their medical bills and related expenses. Due to the high cost of medical care, it’s dangerous to carry liability limits that are too low. This is something we can help you decide on.

Un-insured & Under-insured Liability — this coverage pays you, in the event that you are injured by another party, and that other party was either uninsured, or they weren’t carrying a high enough limit of Bodily Injury Liability to cover your expenses. This is also a very important part of your auto policy because you have zero control over how much insurance other people are driving around with.

Commercial Auto Insurance

Commercial auto insurance is similar to personal auto insurance in basic coverage, such as liability, comprehensive, collision and other types of coverage that are specific to business vehicle use. A commercial auto policy is designed to protect your business from significant losses that could affect your company’s financial wellbeing.

Bodily injury liability: This portion of the commercial auto policy covers harm to others in an accident caused by you or your employee. Bodily injury coverage will provide compensation for medical costs, funeral costs if necessary, and the costs associated with a lawsuit. The amount of compensation your company receives depends upon the limit set on your bodily injury liability coverage, as well as your deductible.

Property damage liability: This coverage will pay the costs to repair property damage caused by you or your employee. The amount of coverage you receive is based on the limits you set and your deductibles. It is a good idea to work closely with an independent agent to assess your risks as well as the potential costs of injury, property damage and legal fees. For the best protection, consider buying a commercial umbrella liability policy.

Collision: As with your personal auto policy, a good commercial auto policy should include adequate collision coverage to pay for the damage to your vehicles in the event you or your employees cause an accident.

Comprehensive: Known also as “other than collision,” your comprehensive coverage is an important protection for damage to your vehicle or loss due to causes other than collision. These causes can include weather, theft and vandalism.

Uninsured and underinsured motorists: If one of your drivers is in an accident caused by another motorist who does not have adequate insurance, this coverage will help to pay for damages and injuries to your vehicle your driver, up to the limits set on your policy.

Medical payments: This coverage pays for medical and/or funeral expenses for you, your drivers and passengers after an accident.

Additional optional coverage: A wide range of additional coverage types may be available, depending on the insurance company you work with and the state your business is in. For example, you may be able to buy coverage for your employees when they drive a car or truck your company does not own.

Homeowners Insurance

What Is Homeowners Insurance?

Your homeowner’s insurance policy is a legal contract between you and your insurance company. It protects you against financial loss if there is damage to your home and your possessions and liability in case someone gets hurt in your home or on your property.

Homeowners insurance is not mandatory in Pennsylvania but most banks or lenders will require you to cover your home for at least the amount of the mortgage. If you are looking for a homeowner’s insurance policy, always shop around and compare coverage and price. Homeowners insurance protects your home and your personal property. It may also protect you against lawsuits if someone gets hurt on your property. Below is more information on the different types of coverage a homeowner’s policy can provide.

If you have tangible assets, you need the protection of a homeowner’s insurance policy. These policies cover you in a home or an apartment, whether you are an owner or a renter. A well-written homeowner’s policy will pay to replace any of your personal property that is destroyed in a fire or other disaster. The policy will also be your first line of defense against a lawsuit from someone injured at your home.

The cost of this coverage is determined by many rating factors. The quality of the coverage, however, is determined by the quality of the insurer and whether the policy is written on a named perils or all-risk basis. A named-perils policy covers only those losses specifically cited in the contract. The all-risk policy works the opposite way — unless a peril is specifically excluded, coverage is provided. The all-risk policy is broader and the burden of proof is on the carrier, not you, in the event of a loss.