I have a comprehensive insurance in Cleveland Ohio, and I’m telling you it’s not cheap! I’m about to renew it and my agent is asking if I’d like to upgrade it and include gap insurance? What’s that? Is he trying to pull one on me?

Jimmy

Cleveland OH

Hold it there, Jimmy, no one’s trying to get smart on you. Comprehensive insurance are really more costly than other insurance because it offers far more coverage for the policy holder. It offers coverage not only when you are in the road (which is the usual case for liability and collision coverage) but also when you are innocently parked somewhere. If some naughty kid decides to leave a “Jimmy was here” spray paint on your car, your comprehensive auto coverage in Cleveland Ohio OH will pay for the costs of having your car restored.

Gap insurance, on the other hand, offers a very special kind of protection which is very useful for new cars on auto loan or leased cars. If you have purchased your car through an auto loan in Ohio , you naturally have to pay it over a period of years. If before you were able to fully pay your loan you got into a nasty accident and your car was beyond repair, your comprehensive auto insurance will “pay” you the fair market value of your car prior to the accident. This will most of the time be less than the value you owe on your loan because of devaluation. Gap insurance, if you have one, will “pay” the remaining balance of your loan which was not shouldered by your comprehensive insurance. So you see, there is no redundancy between comprehensive auto insurance and gap insurance.

To make doubly sure that your insurer is not getting smart on you, you may want to get free quotes online for gap insurance. On this page you will see a space where you can enter your zip code and it will give you quotes on how much auto insurance costs. It can serve as a guide when you get back to your insurer.

I just want to know if I can get sr22 and full coverage at the same time? I am required to carry an sr22 in Ohio. Thank you.

Collette

Good question Collette.

The liability insurance required for an SR-22 certificate in Ohio is state liability. It is not a physical damage coverage of collision and comprehensive like most financial institute will require an individual to have on their motor vehicle whether its a new car or a used car.

You may speak to your insurance agent regarding carrying or maintaining the required liability insurance for the SR-22. In addition to that, you may also ask them about the physical damages coverage that is being required by a insurance provider when you purchase a motor vehicle. You should be able to get both types of coverage to be able to maintain what the state and insurance company will require of you.

If you cannot get both types of coverage with your current insurance company, you may check other insurance providers that can offer you that. The easiest way to shop for quotes and offers, you may check websites of these insurance companies to get more information.

Goodluck!

MariCAR