Seriously Good Car Insurance

Seriously Good Car Insurance

For Seriously Good Car Insurance visit: Scott Lynch Agency or call (317) 420-2867

Insurance Terms Made Easy: Subrogation

Watch this video to learn about Subrogation. For more information about insurance visit our website Scott Lynch Agency

Insurance Terms Made Easy: Subrogation

Insurance Terms Made Easy Subrogation

The Hidden Cost of Car Ownership

When you think about the costs of owning a car, what do you think of – the gas, maintenance or maybe insurance?  Actually, depreciation is often one of the larger expenses of car ownership.

According to U.S. News & World Report, new vehicles lose value at an average decline of 15-25 percent each year during the first five years. And whether new or used, all vehicles lose value over time.  Since the rate of depreciation varies by vehicle model, it’s a good idea to take resale value into consideration when shopping for your new ride.

According to the experts at Kelley Blue Book, picking a vehicle with excellent resale value is very likely the most important thing you can do when it comes to keeping costs down.  Paying a fair price for the car and securing a good loan rate can be undone by poor resale value, because eventually you’re going to sell it or trade it in.

Cars that retain a higher value

If you’re car shopping this year, it appears that bigger vehicles are depreciating better. Trucks and SUVs appear in nine of the top 10 spots on the Kelly Blue Book 2017 Best Resale Value Awards. Per Kelley, while the average new vehicle will be worth about 33 percent of its original sticker price after 60 months, the top 10 vehicles on their list will return an average of 50 percent to their owners at resale time.

The Kelley authorities say that choosing a car with good resale value can often save you more money in the long run than going for big rebates and other incentives.

New cars that may lose value the quickest

To highlight the other end of the spectrum, Forbes magazine shared the results of a study conducted by the used-vehicle website Carlypso.com.  Among the top 10 vehicles expected to have resale issues were the Nissan Leaf, Dodge Charger, Volkswagen Beetle, Mitsubishi Lancer and Kia Optima.

A little research goes a long way

When you’re ready to shop for your next vehicle, it will pay to do some research on resale value before making an investment. Whichever new (or used) car you choose, Erie Insurance can ensure that investment is protected with a great auto policy at a great price. And we can help you take care of the depreciation issue, too, with a coverage endorsement that provides true replacement value if you have an accident.

It’s called New Auto Security, and you can ask your agent to add it to your ERIE auto policy. If you’ve had your new car less than two years and it gets totaled, ERIE will reimburse you the cost to replace it with the newest model year. And if your new car is in an accident but it’s not a total loss, ERIE will pay to repair the vehicle without a deduction for depreciation.

If your vehicle is past its second birthday, ERIE will pay the cost to replace it with another vehicle of the same model that is two years newer. That means the coverage is good to have no matter what the age of your vehicle.

Reaching out to a local Erie Insurance agent  is a good way to start your research. He or she can explain the coverage details and get you a quote.

A vehicle is considered new when it is less than two years old and is owned by the original purchaser. Eligible vehicles must carry both comprehensive and collision coverage, and the policy deductible will be applied at the time of a claim. Insurance products are subject to terms, conditions and exclusions not described in this post. The endorsement is sold on a per-vehicle basis, not per policy, and contains the specific details of the coverages, terms, conditions and exclusions. Coverage is not available in all states. Please refer to our disclaimer and talk to an ERIE agent for policy details.

 

by Nancy Daniel on June 6, 2017

Uninsured-Underinsured Coverage

We speak your language. Why do you need uninsured or underinsured motorist coverage? Call us at (317) 420-2867 to find out why or visit us at Scott Lynch Agency

 

 

Seriously good insurance

For seriously good insurance for your business or personal needs, call us at (317) 420-2867 or visit our webpage Scott Lynch Agency.

 

What Should I do if I Start Hydroplaning?

What Should I Do if I Start Hydroplaning?

If you can’t avoid traveling on wet roads altogether, it’s best to drive slow and steady. But what should you do if you start hydroplaning anyway?

The first thing to do is relax, as frantic movements will only make your situation worse. As you feel your car lose contact with the road, calmly but firmly grip the steering wheel with both hands. Don’t slam on the brakes or make dramatic motions with the steering wheel – these actions will jeopardize your control of the car.

Instead, aim the nose of your vehicle forward and calmly make slight adjustments with the steering wheel to keep your vehicle going in the right direction. Then take your foot off the gas and allow your car to slow down naturally as you continue to navigate. Resist the urge to slam on the brakes.

But what if you are going to hit something?

If you’re heading toward another car, tree or median, then you may be forced to apply the brakes. How you should apply the brakes depends on the car you drive.

If your car is equipped with regular brakes, pump them regularly and lightly as you continue to steer in the direction you want to go. If your car has anti-lock brakes, you should brake as normal by applying steady pressure to the brakes. Just try not to slam on the brakes. The process for braking when you’re hydroplaning is actually very similar to braking when you’re skidding on ice.

Hydroplaning is scary, but you truly can handle it with extra precaution and a little knowledge.

Original article: A Blog from Erie Insurance

Auto Services Program

Being an auto service provider means you’re committed to providing your customers – and their cars – with reliable, quality service. With the Erie Insurance Custom Collection Auto Services Program you can count on ERIE and your agent to protect the business you’ve worked so hard to build. Contact me to learn more, Scott Lynch Agency.