Car Archives - GOEBEL Insurance & Financial

Tips for Teen Drivers

September 16, 2022 By Larry Goebel

Ever since teenagers started driving, adults have told them what to do. It’s with good reason; teens are three times more likely to be in an accident before age 18 than a more experienced adult is. New teen drivers could avoid many collisions they could be involved in by taking some of the sage advice of older drivers.

From questions about technology to car insurance for teens, we’ve listed a few of our top tips for the modern teen driver. Some suggestions are new to today’s young drivers, and others are older than their grandparents. Continue reading to learn how to drive safer and more competent behind the wheel.

Get Acquainted with Your New (Or-New-to-You) Vehicle

It can be thrilling to get behind the wheel of a new vehicle but also a little intimidating. With so many buttons, lights, and functions, it can be challenging to navigate the dash for the first time. This is true for teens as well as anyone that is renting a car they are not familiar with. You know where the brake and gas pedal are, but what about some of the lesser-used but important features?

Many new technologies are available in today’s cars, including advanced GPS systems. Before you crank up the engine, make sure you know where all of your car’s most important features are located and familiarize yourself with their functions and purposes. Examples include:

Hazard lights button
Headlight and fog light control
Windshield wiper control
Cruise control
Mirror adjustment control
Speed gauge
Oil pressure gauge
Temperature gauge
Fuel gauge
Emergency brake
Hood release
Gas cap release
And more

Cell Phones and Driving Don’t Mix

Besides having young passengers, cell phone use is the number one cause of distraction for teen drivers. Yet despite laws that ban texting while driving, it is still common.

The time to multi-task is not while behind the wheel, especially for new and inexperienced drivers. It takes 100 percent focus to operate a vehicle safely. Texting while driving or even talking on the phone requires a divided thought process that can be dangerous for young drivers. Not even hands-free Bluetooth devices eliminate the risk of a crash. Put down the phone completely, and don’t pick it up until you reach your destination – not even at a stop light.

Keep Your Future in Mind

There is a lot to think about behind the wheel. However, one of the most important things you should remember is how your actions today will affect your future. Irresponsible driving can lead to severe financial and legal consequences, not to mention land you back in the passenger seat if your license is suspended.

Likewise, good driving habits can lead to positive outcomes. Maintaining a blemish-free driving record could qualify you for discounts on car insurance. You can also lower coverage costs by qualifying for good student discounts. Give us a call for more information about car insurance for teens.

My Neighbor’s Tree Fell on My Garden Shed – Whose Insurance Pays?

February 28, 2022 By Larry Goebel

Imagine you’ve been involved in a car accident. Insurance information gets exchanged and claims get filed, but how do insurance companies determine who pays for what? The simple answer is that it just depends on the circumstances.

Liability Claims

If you are involved in an accident, the other party may file a claim with your insurance asking for monetary assistance with either physical damage or medical bills. This is called a liability claim. When a claim is filed, a claims adjuster will reach out to all involved parties and take down detailed information. If there happens to be a police report, the adjuster will include this information as well. Who is at fault is determined by the circumstances of the accident. Did someone fail to yield? Did someone run a red light? There are tons of different scenarios that could occur. Typically, if one party receives a ticket from the police, this is the responsible party. The insurance company of the responsible party is most often the company that pays for physical damage to the vehicles involved. This typically holds true for medical claims as well.

No-fault States

There are 18 states that require a special policy called no-fault insurance. This usually covers things like medical expenses or even loss of income, regardless of who is at fault. If you live in a state that is not considered a no-fault state, then it is most often the insurance company of the party that is found to be at fault that pays for most everything.

Homeowner’s Insurance

Homeowner’s insurance can be tricky. There are many scenarios that may cause an insurance claim to be filed. Determining if your policy will help cover losses can be hard and working with your personal Insurance Agent is best.

Medical Bills and Disability Claims

Let’s say you hired a roofer to perform repairs at your home. The roofer falls and gets injured. Is this covered under your homeowner’s insurance or is the roofer responsible for his own expenses? In general, homeowner’s insurance will cover the expenses of anyone injured on your property, even contract workers, like the roofer. One of the few times your homeowner’s insurance policy may not cover an insurance claim is if you were negligent or careless. With that said, the roofer should also carry General Liability insurance as well as a Worker’s Compensation policy. These will cover expenses related to any damage the roofer may have done and any injuries they experience while roofing your house. So, when hiring a roofer, or any contractor, always make sure to obtain a copy of their General Liability and Worker’s Compensation policies.

Property Damage

So your neighbor’s tree fell into your yard, causing damage to your garden shed and fence. Who is the responsible party? More often than not, if it’s in your yard, it’s your responsibility. In this case, you would file an insurance claim with your homeowner’s policy, not your neighbor’s. This may be different if the tree had root damage or other conditions that caused it to be a risk and your neighbor was aware of this and chose to do nothing about it.

Subrogation

What happens when it’s not immediately clear who is at fault or what insurance company should pay for what? Insurance companies have a process called subrogation. This allows for you to file a claim with your insurance company so that you can get back to normal – get your vehicle repaired, cover medical expenses, remove a tree, etc. Your insurance company will then request reimbursement from the insurance company of the at-fault party. This is something that happens behind the scenes and is not a process you are typically involved in, other than providing any requested information.

How to Proceed

If you’ve been involved in a car accident, had someone get injured on your property, had a neighbor’s tree fall in your yard, or any of the other numerous circumstances that could cause insurance companies to get involved, the best thing you can do is to contact your Insurance Agent. Your Insurance Agent is knowledgeable and is there to guide you in the right direction.

If you are in the process of obtaining insurance, be sure to contact us for a quote. We can make sure that all of your questions are answered and that you get the insurance that best fits your individual circumstances. We are here to help.

Your Guide to Insurance on Electric Cars in Wisconsin

June 18, 2021 By Larry Goebel

Electric cars are trending. If you’re thinking about getting one, you might be worried about the range and the prevalence of charging stations, but there are other things to consider, as well. Every car needs to be insured, and that includes electric vehicles. Here’s what you need to know about insurance on electric cars in Wisconsin.

The Future of the Electric Car

Electric cars are getting a lot of support right now.

In 2020, Governor Newsom announced that California would be phasing out gasoline-powered cars in favor of electric vehicles. By 2035, all new cars and passenger trucks sold in California will be zero-emission vehicles. Governor Newsom says, “This is the most impactful step our state can take to fight climate change.”

President Biden has also proven to be a supporter of electric vehicles. According to Car and Driver, Biden’s American Jobs Plan includes $174 billion dedicated to promoting electric vehicles and EV charging stations.

Do Insurance Companies Cover Electric Vehicles?

Before you buy an electric vehicle, it’s smart to make sure you’ll have the resources you need. In addition to scouting out the electric vehicle charging stations in your area, it makes sense to think about insurance coverage for electric cars.

The good news is that most insurance companies that insure cars in Wisconsin also insure electric cars. Finding coverage for electric versions of vehicles should not be a problem.

The Cost of Owning and Insuring Electric Cars

Electric cars are seen as expensive – for good reason. The National Resources Defense Council says that the average sticker price for an electric vehicle is about $19,000 higher than the average sticker price for a gas-powered car.

Because electric cars are expensive to own – and expensive to repair – the cost of insuring electric cars can also be expensive. According to Self, annual car insurance premiums for electric vehicles cost an average of $442 more compared to car insurance premiums for gasoline-fueled cars.

The takeaway? It’s more expensive to insure an electric car, so when purchasing an electric car, take Wisconsin insurance costs into account.

But it’s not all bad news. People who own electric cars catch a break when it comes to fuel costs. The National Resources Defense Council says the exact savings will depend on a number of factors, including the cost of gas and electricity in your area. In Washington, you can expect to save $14,480 on energy costs over a 15-year period.

Even better, the cost of electric vehicles is expected to drop in coming years as batteries become cheaper. According to Fast Company, the price of electric vehicles has fallen by 89% in the last decade. In a few more years, electric vehicles might cost the same as gasoline-powered vehicles.

What Type of Car Insurance Coverage Does Your EV Need?

Your electric vehicle can benefit from the same basic coverage types as gasoline-fueled vehicles.

Liability insurance covers losses to third parties. Coverage is available for both bodily injury liability and property damage liability.
Collision and comprehensive insurance covers losses to your own car. Collision insurance provides coverage for collisions or crashes, while comprehensive insurance provides coverage for other types of losses, such as theft, vandalism, storm damage, and animals.
Uninsured motorist coverage covers losses that you may experience if you are hit by an uninsured driver. You can also purchase underinsured motorist coverage in case you are hit by a driver with insufficient insurance limits.
Gap insurance covers the difference between the value of your vehicle and the amount you owe in the case of a total loss. Because vehicles depreciate quickly, this coverage can be a smart investment on new vehicle.

Make sure your charging station is covered, too. If you’ve installed a home charging station for your electric vehicle, talk to your insurance agent to make sure your Wisconsin homeowners insurance covers it adequately.

What Insurance Limits Do You Need for Your EV?

When selecting insurance limits for your electric vehicle, there are three important requirements to consider:

What are the insurance minimums in Wisconsin Each state establishes its own requirements for insurance coverage. In most states, liability insurance is mandated, and drivers must meet the state’s minimum amounts. Some states may also require additional types of insurance coverage, such as personal injury protection (PIP) and uninsured motorist coverage. When you purchase insurance, you will have to enter your location. Your insurance partner should make sure you are meeting your state’s legal requirements.

What does your lender require? If you have an auto loan, your lender will likely have some insurance requirements. You will probably have to maintain adequate amounts of collision and comprehensive insurance. You may also need to list your lender on your insurance policy.

How much coverage do you need to protect your assets? If you cause a crash and the losses exceed your auto insurance limits, you can be on the hook for the difference. Therefore, it can be smart to carry higher limits, especially if you have assets you want to protect, or if your state has especially low minimum requirements. You may also need additional coverage based on your vehicle use. For example, if you use your personal vehicle for commercial purposes, you may need commercial coverage and higher limits.

How to Keep Costs Down for Electric Vehicles

Many people like electric vehicles because of their sustainability – but the situation has to be sustainable for your wallet, as well. Although this might change in the future, right now, it can cost more to insure and own an electric car. If you own an electric vehicle or are thinking of buying one, take the following steps to keep the cost of insurance on electric cars down.

Look for tax rebate programs. You may qualify for tax credits or rebates if you purchase an electric car. The S. Department of Energy has information on federal tax rebates for electric vehicles.
Ask about insurance discounts. Don’t leave money on the table. You may qualify for a number of discounts, such as safe driver discounts. Your electric vehicle may also help you qualify for some insurance discounts.
Keep a clean driving record. Your car isn’t the only thing that impacts your insurance rates. Your driving history also plays a major role. Avoid crashes and claims to keep your insurance rates low.
Consider a usage based insurance (UBI) policy. If you are a consistently safe driver, a usage based insurance program (in which your driving behavior is monitored by your phone) can be a money-saving option.
Ask Goebel Insurance & Financial to shop and compare for you. Insuring an electric car doesn’t have to break the bank. Different insurance companies will give you different rates, so shop around for a good deal. As an independent insurance broker, Goebel Insurance & Financial has connections with many top auto insurers, so we can shop the market on your behalf and help you assess your options.

Why You Need Liability Insurance

June 25, 2020 By Larry Goebel

You can find a lot of interesting data at the Insurance Information Institute. More than that, you can find a lot of useful information at the Insurance Information Institute. If you ever wanted to know how your premiums are determined, if you want any road safety statistics for Fond du Lac, Wisconsin, you can find all the relevant data on this website. But, a lot of that information is subject to change in the very near future.

Easing the Burden

Our changing statistics have a lot to do with the recent financial crunch this country is feeling at the moment. We see the first signs in areas like the stock market and jobs, but the domino effect reaches much farther than that.

For instance: Auto insurance.

We’re already seeing a number of people canceling their policies, so while the Insurance Information Institute suggests that we have just under 15% driving without insurance in Wisconsin, just within the range of the national average, it can be assumed that that number is already a little out of date. People who aren’t canceling their insurance outright may be reducing their coverage, meaning that the underinsured driver rate is rising, as well.

But this may be nothing compared to what we’re going to see in a few months, or a few weeks, or perhaps even by the time you read this.

Because so many people are canceling their policies, or considering doing so, many insurers are doing whatever they can to ease the financial burden. This will ultimately lessen the number of cancellations, but it also means that we’re going to see a big spike very soon all at once. Insurers are offering deferred payments, which may help to keep some people insured, but others may find when those accumulated bills come due, they simply can’t afford it, and they’re going to drop their policy.

Of course, this is not recommended. If need be, a driver may want to consider reducing their coverage, but driving without insurance is never worth the risk. Unfortunately, it’s a risk that many people are willing to take, and that creates a whole new risk that the rest off us need to manage.

85%

Up until now, Wisconsin drivers could assume a roughly 85% chance that the other driver in an accident is going to be carrying insurance. It’s the law, and it’s not too hard for most of us to get good coverage at a reasonable rate. We buy insurance with this in mind. We carry uninsured and underinsured insurance, but if we’re going to beef up our policies, we probably spend that extra money on some other area of insurance. Unfortunately, that 85% rate of insured drivers is going to go down by quite a bit, and sooner than we might think.

It is difficult to determine precisely to what degree our uninsured motorist rate will rise in the state of Wisconsin, but it’s not going to stay under 15% for very much longer.

When buying insurance, we need to consider what the risks are. In the past, uninsured and underinsured motorists have been a moderate risk, but not nearly as severe as they are about to be in the coming months.

If you are looking to expand your insurance, or if you just have a few questions you’d like answered, get in touch with us at GOEBEL Insurance, and let’s see what we can do to keep you safe out on the streets and highways of Fond du Lac, Wisconsin.

Driving Without Insurance – Who Pays?

September 11, 2019 By Larry Goebel

Car in an accident

It’s stressful enough to get into a car accident. But what if the other driver has no insurance?

Or worse, what if you’re involved in a hit-and-run — left on the side of the road with injuries sustained by an accident that wasn’t your fault, yet with no one to blame? If it’s someone who’s not even from Fond du Lac or the surrounding area, you’ll likely never see them or their vehicle again.

Defending Yourself Against Uninsured Drivers

In most cases involving an accident where the other driver is at-fault, you’d file a claim with their insurance company. Compensation would be provided via the other driver’s liability insurance — a mandatory type of insurance that all Wisconsin drivers must have.

But when the at-fault driver has no insurance (which is actually illegal) or fails to stop at all after the accident (also illegal), you are the one who has to foot the bill. You’ll have to pay for any injuries you or your passengers incur and any repairs to your vehicle.

Unless … you have uninsured motorist coverage.

How Uninsured Motorist (UM) Coverage Works

About one in seven Wisconsin drivers is driving without insurance.

As you can see, this doesn’t put them at risk as much as it puts you at risk.

You’ve read the required minimums on auto insurance for your state. You’ve spoken with an agent and signed up for a plan. You pay your premiums.

If you get into a collision that’s your fault, your insurance plan is ideally going to have an adequate amount of liability coverage to pay for the other driver’s medical expenses and property damage.

Uninsured motorist coverage or UM coverage protects you from drivers who aren’t as responsible as you are and don’t have any insurance or enough insurance. Concerning possible injuries that may ensue after a collision that wasn’t your fault, there are two types of UM coverage that will protect you:

#1 – Uninsured motorist bodily injury coverage (UM coverage or UMBI coverage)

#2 – Underinsured motorist bodily injury coverage (UIM coverage or UIMBI coverage)

Together, these two coverage types are often referred to as UM/UIM coverage.

What’s the Difference Between a Driver Who’s “Uninsured” and One Who’s “Underinsured”

Simply put:

An “uninsured” driver or motorist is on the road illegally because they have zero insurance.
An “underinsured” driver or motorist is legal to drive, but they don’t have good insurance. Often, they only have what’s absolutely required in their state.

Therefore:

UMBI coverage for uninsured drivers pays for your medical expenses (including lost wages, pain, and suffering, etc.) when the at-fault drive is completely uninsured.
UIMBI coverage for underinsured drivers pays for your medical expenses (including lost wages, pain, and suffering, etc.) above and beyond the at-fault driver’s minimal limits.

As a Wisconsin resident, you are required to have UMBI (UM) coverage. UIMBI (UIM) coverage is only recommended, not mandatory.

Taking Care of Property Damage After a Collision With an Uninsured Driver

In Wisconsin, the UM coverage that takes care of property damage (UMPD coverage) is not offered. It’s only available in some states. What you can do to protect yourself from uninsured motorists who cause damage to your car is to purchase collision insurance.

Of course, collision insurance is an optional type of coverage. So, if it’s not a policy you carry, you may end up turning to civil legal action in order to recoup compensation from uninsured drivers who hit you.

If you have questions about UM and UIM insurance, our experienced and friendly auto insurance agents at GOEBEL Insurance & Financial have the answers. Give us a call or stop into our office today to learn more.