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51 Main Street
Waterville, ME 04901
207-873-5101
207-873-5784 Fax
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155 Center Street #10
Auburn, ME 04210
207-689-9171
207-689-2287 Fax
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Toll Free Phone: 800-244-9046
Toll Free Fax: 866-274-0005
E-mail: info@ghmagency.com
Automobile Insurance
There are a few basic ground rules with all lines of insurance, one being insurable interest, which means you must own or be responsible by written agreement to insure something. With auto insurance you must be the titled owner to insure a vehicle or have a written lease agreement. You cannot insure someone else’s vehicle on your policy, nor can you insure a vehicle you own on a policy in someone else’s name. If there are two or more titled owners of a vehicle they should all be listed as named insureds on the policy. Being listed as a driver on a policy does not satisfy the requirement of insurable interest. Below is an outline of common coverages available under most auto insurance policies.
GHM AGENCY recommends you thoroughly review all your insurance policies and call us if you have any questions or do not understand any of the coverages, conditions, limitations or exclusions within your policies.
Please keep GHM AGENCY in mind for all your insurance needs. If you would like a quote on any type of insurance or for increasing or adding extra coverage please contact our office.
Coverage Recommendations
| Liability Coverage If you or someone driving your vehicle is responsible for a serious auto accident, you want to be certain you have as much liability pro-tection as possible to protect your personal assets. Most insurance carriers offer up to $500,000 of liability coverage. The State of Maine requires a minimum for bodily injury of $50,000 each person/$100,000 each accident, and property damage of $25,000 (or $125,000 combined single limits). If you would like to know how little it would cost to increase this important coverage, please contact our office. |
Miscellaneous Coverages Some insurance carriers offer optional riders that can be added to auto policies. Coverage for Towing & Labor can be purchased with limits up to $75 and Rental Reimbursement limits up to $30/day for up to 30 days are available. Special coverage is available for cus-tomizing and accessories that are not factory installed. A new cover-age called Loan/Lease provides protection for the difference be-tween the balance of your loan/lease and the actual cash value (book value) of your vehicle at the time of a claim. We would be happy to let you know if your carrier offers any of these coverages. |
| Medical Payments This coverage protects you and your passengers for minor injuries sustained related to a motor vehicle, regardless of fault or circum-stance. Limits of $5,000 or under are common but some carriers provide higher limits. |
Extended Non-Owned Liability Coverage If you drive a company car or have regular access to a non-owned vehicle, or you have a child that has regular access to a non-owned vehicle such a college roommate, this coverage should be added to your auto policy. If you have such a situation, please contact us so we can discuss it with you in more detail. |
| Comprehensive Coverage Comprehensive protects your vehicle for damages caused by fi re, theft, vandalism, glass breakage, and certain other types of non-collision damage. Typically, there is a minimum of a $50 deductible, however, deductibles may go as high as $1,000 or more to help reduce premiums. Comprehensive coverage protects your vehicle up to its actual cash value (book value) at the time of a covered claim. |
Collision Coverage This coverage protects your vehicle when it is involved in an acci-dent. Typically, there is a minimum deductible of $250, however, you can reduce your premium by increasing your deductible to $500, $1,000 or higher. Collision protects your vehicle up to its ac-tual cash value (book value) at the time of a covered claim. We would be happy to tell you how much you could save by increasing your deductibles. |
| Discounts There are several ways to help reduce your auto insurance premium such as: 1) Account discount for having your home and auto insur-ance with the same carrier, 2) Multi vehicle credit, 3) Non-smoker credit, 4) Discounts for increasing deductibles, 5) Good student credit, 6) Drivers training credit, 7) Preferred driver credit, and more. We’d be happy to double-check your policy to make sure you are receiving all the discounts you are entitled to. Please call us to re-view. |
Personal Umbrella Policy Some insurance companies add it as a rider to your homeowners policy and others issue a separate policy. This coverage starts at $1,000,000 of additional liability protection and covers you in the event of a serious homeowners or automobile liability claim brought against you. The cost of personal umbrella policies start at $150 per year. |
| Exclusions Some of the common exclusions found in most auto policies in-clude: non-owned vehicles available for your regular use. A com-mon example of this would be a company car or a car that is leased or loaned to you for an extended period of time. Other exclusions may apply when you use your vehicle for certain business purposes. If you use your vehicle in business we recommend you contact us to discuss it in more detail. Coverage for accessories and customizing is typically limited and/or excluded. Other exclusions may apply. |
Uninsured/Underinsured Motorist Protection This important coverage protects you against the person who does not purchase auto insurance or has inadequate liability limits. Al-though the State of Maine requires auto insurance, not everyone carries it. Should an uninsured/underinsured vehicle hit your vehicle and cause injury to you and/or your passengers, it is uninsured/underinsured motorist coverage that protects you. Most insurance carriers offer up to $500,000 of uninsured/underinsured motorist coverage. The State of Maine requires a minimum for bodily injury of $50,000 each person/$100,000 each accident (or $100,000 of combined single limits). Please let us know if you have any ques-tions about your uninsured/underinsured motorist coverage. |
| GHM AGENCY does not suggest in any way that this web page replaces or alters your current insurance policy. Please refer to your insurance policies for specific coverages, conditions, limitations and exclusions. Thank you for choosing GHM Agency as your local independent agency. | |
