Preferred Financial Group

"We listen, we educate, then we perform like no one else in the industry."

Examples

 

Below is a sample Auto Insurance Policy

used to illustrate how an auto claim might be viewed and settled by the insurance company.

Example #3

      • What Happened?: The insured’s unattended car rolled down a hill and crashed into a restaurant.
              • Caused $15,000 damage to his car
              • Caused $75,000 damage to the restaurant
      • What Was Covered?:
              • Insured’s car was covered under Collision for the full amount of $15,000 minus the $1,000 deductible.
              • Repairs to the restaurant were covered under Property Damage Liability for the full amount of $75,000
      • Explanation: In both cases the losses were within the policy limits and as such, claims were paid minus the policy deductible amounts where applicable. Please note:Collision coverage pays for repairs to your own car if it is damaged by another car or crashes into an object like a wall, tree an animal or even a restaurant