Usage-based insurance, also known as UBI, is an innovative approach to auto insurance because its calculations are based on drivers’ habits. Instead of relying solely on traditional factors like age, location, or driving history, UBI tracks how often and how safely someone drives. This system offers a personalized rate that reflects individual driving habits for those living around Collierville, TN.

How Usage-Based Insurance Works

UBI policies use technology, typically a telematics device or a mobile app, to monitor driving behaviors such as speed, braking, acceleration, and the distance driven. These devices or apps collect data and transmit it to the insurance company, which then uses the information to assess risk and adjust premiums accordingly. Some insurers may offer immediate discounts for enrolling in a UBI program, with additional savings possible based on driving performance over time.

Drivers who maintain safe driving habits, such as avoiding hard braking, staying within speed limits, and driving fewer miles, tend to see significant reductions in their premiums. This makes UBI particularly attractive to individuals who drive infrequently or have excellent driving habits.

Benefits of Usage-Based Insurance

Usage-based insurance allows you to exercise more control over your auto insurance costs. Safe drivers can save money by proving their responsibility by driving through the data collected, and low-mileage drivers benefit from not paying for coverage they rarely use.

UBI can also promote safer driving. Since drivers know their behavior is being tracked, they are often more cautious, which can lead to fewer accidents. Additionally, UBI offers flexibility for drivers whose vehicle usage fluctuates.

Brock and Poole Insurance Agency For Better Understanding of Insurance

Brock and Poole Insurance Agency offers all of the information you need to get insurance. Our agency serves the locations in and near Collierville, TN. Call today.

When looking at auto insurance coverage options in Collierville, TN, you will likely see uninsured and underinsured coverage included. You can opt out of this coverage, but there are numerous reasons why you should keep this vital form of protection as part of your policy. Since we offer this type of coverage at Brock and Poole Insurance Agency, we want to give you an overview of what this type of coverage entails and why we consider it necessary for drivers.

How Uninsured Motorist Coverage Protects You (UM)

If you have an accident and the other party doesn’t have insurance, your uninsured coverage will help pay for damages regardless of fault. Tennessee is home to many uninsured drivers and drivers between insurance coverage. So, there’s always a possibility that an accident with any individual on the road can become a situation where the other party doesn’t have insurance. Your uninsured motorist coverage will give you protection against that possibility.

How Underinsured Motorist Coverage Protects You (UIM)

Even when a motorist has proper auto insurance coverage, there’s still a chance the person doesn’t have enough coverage for damages sustained in an accident. For this reason, underinsured motorist coverage can become a safety net.

For example, if you’re in an accident and your medical bills cost more than the other party’s insurance coverage can pay, your UIM coverage will help bridge the gap. This also applies to lost wages, loss of earning potential, pain and suffering, and other damages from an automobile accident.

Do You Need Uninsured/Underinsured Coverage in Tennessee?

It would be best if you considered UM/UIM coverage a necessity. You never know what you might have to deal with in the aftermath of an accident, so having these additional protections makes a lot of sense. UM/UIM adds coverage amounts beyond your policy limits, which can become very important for you and your family if an accident happens.

Contact us at Brock and Poole Insurance Agency today to learn more about uninsured and underinsured coverage in Collierville, TN.

Auto liability insurance is required to drive in every state legally. However, auto liability insurance is a necessary minimum insurance requirement. You may need more insurance depending on your particular situation. Typically, drivers who lease or finance their car will have to carry full coverage auto insurance. However, other circumstances may make it beneficial to carry more than just liability insurance. Our Brock and Poole Insurance Agency team can help Collierville, TN drivers determine the best insurance coverage for their unique situations. 

Liability vs. Comprehensive and Collision Insurance

Auto liability insurance covers damage and injuries that others sustain when you’re found at fault for an auto accident. It will not cover any damage to your car or any injuries you sustain. This insurance expressly covers damage to other people’s property, vehicles, and personal injuries. All drivers are required to carry auto liability insurance. Conversely, comprehensive and collision coverage, often referred to as full coverage insurance, covers damage to your car, your personal injuries, and damage your vehicle may sustain from non-moving accidents or situations. 

My car is old. Is full coverage insurance a waste of money?

Maybe. Once a car reaches ten to fifteen years old, it loses its value significantly. Overinsuring a vehicle, you would not be compensated for in an accident may not be the wisest way to spend your money. Typically, full coverage insurance isn’t practical once the cost of insurance is equal to or greater than the cost/value of your car if it’s declared a total loss in an accident (totaled). You may also consider dropping full coverage insurance if you can afford to pay for your car’s repairs or may opt to buy another car if your car is totaled in an accident. If you have questions regarding how much auto insurance is best for your unique situation, call us. We’d be happy to help you explore your options. 

While getting auto insurance is a mandatory requirement for numerous states in the country, not all drivers will know what to look for in their policy. No two insurance policies are created equal, requiring you to have the proper knowledge before buying your preferred cover. Brock And Poole Insurance Agency can help with this, with the following points designed to help Collierville, TN drivers understand what to consider when getting auto insurance.

What Does Your Policy Cover?

Auto insurance offers numerous policy options, with each covering various features. If, for instance, you require coverage dealing with 3rd party bodily injury or property damage, a policy such as liability coverage will be your go-to. Personal injury harm, on the other hand, would be suited to medical payment coverage with other options such as comprehensive cover helping you get compensation for non-collision accidents. Due to these distinct features, make it a point to study each coverage before settling for your plan.

Be on the Lookout for Exclusions

While auto insurance covers numerous hazards that drivers are likely to encounter during their daily commute, it also comes with exclusions. Examples of these include property damage from disasters such as earthquakes and intentional acts of harm. In addition to this, various covers may also not cover roadside assistance and wear and tear during your compensation unless your provider offers add-ons. To get ahead of such inconveniences, be on the lookout for specific situations that fall outside your coverage.

State Guidelines

Different states also require drivers to carry various compulsory policies, with failure to heed these guidelines likely to leave you with penalties. Before adopting any policy, ensure you consider your region’s legal requirements.

Whether you need extra coverage or need first-time coverage to help with your commuting needs within Collierville, TN, get in touch with Brock and Poole Insurance Agency today for auto insurance.

Car insurance is not something to take lightly, and for most people, it one of their most significant expenditures. Having a minimal amount of car insurance is required everywhere in the country, and its rules and enforcement are left in the hands of the state. If you are in the Collierville, TN area, consider consulting with Brock and Poole Insurance Agency to fulfill your insurance requirement.

It’s about liability

Since most people in this country drive, tragedies inevitably happen, and besides covering costs for either party, the requirement to have insurance is about liability. In many areas, the most important aspect is bodily injury and property damage, which the state sets a certain minimum for drivers to have. By the time you have a license and your vehicle registered, you should already know this.

Even if no law were set in place, it would be likely you need auto insurance anyway. For example, When you purchase a vehicle with monthly payments, it is likely the bank or dealership will require you to have a minimal amount of coverage. This is because your vehicle is still considered an investment, and third parties will want to have it protected until it’s paid off.

If there were no requirements in place, we would have to hope that most drivers would have the financial means to cover the costs in the event of an accident. Realistically speaking, that just won’t happen. There are more benefits than just fulfilling your legal requirement. You also are covering your assets and protecting passengers in your car when you have a fully-featured auto insurance policy.

Wrapping Up

Not everyone likes the process of purchasing auto insurance, but it is a necessary part of society, and legally required as such. IF you are looking for options to cover your legal liability within Collierville, TN, consider giving the Brock and Poole Insurance Agency a call.