Comp or Collision?

For over three decades Lott & Gaylor has serviced the auto insurance needs of Fort Myers, Cape Coral, Naples and all of Southwest Florida. Our insurance company’s offer sound coverage at a price that will fit any budget and the our agents have the know-how to match your needs with them. Not only do we offer great auto insurance coverage, when it comes to service – we will raise the bar for every other insurance transaction you will ever have.

Personal Auto insurance typically has two parts. The first is the liability section of the policy. It covers your financial responsibility for injuring others and is usually required by most states (including Florida).

The second part covers the car itself: comprehensive coverage reimburses losses from fire, theft or other perils; collision coverage pays to repair losses caused by an accident. Often this coverage is mandated by leasing companies or banks. There are also ancillary medical, car rental and other coverages which vary by state. Additionally you should ask your agent about uninsured and under-insured motorist coverage. Uninsured motorist (UM) coverage pays for your medical bills if an uninsured driver hits your car or if you’re involved in a hit and run.

Additionally there are important coverages like Medical payments (called MedPay), Personal Injury Protection (called PIP) and no-fault. Be sure to ask your Lott & Gaylor representative how these coverages affect your policy and how one would respond int the event of  a claim.

Utilizing high deductibles on the physical damage coverages can help reduce premiums. If you carry umbrella insurance, you must be sure that you carry the required amount of basic liability insurance to avoid a gap in coverage for a serious accident.

Quick, no hassle and convenient online quoting with multiple insurance carriers will ensure you get the best coverage for your insurance dollar. Call, email or quote your vehicle insurance online – no matter how you contact us – you will be glad you did.

Unlike liability coverage, collision coverage pays to repair your own vehicle in the event of an accident. Your car is usually considered “totaled” when the repair costs exceed a certain threshold of the car’s value, such as 65%. At that point, the insurance company will tow away the car to the salvage yard and offer you the actual cash value of your car. To keep cost’s down some insured’s choose to lower their premium costs by raising their collision deductible. Keep in mind however, that you’d be responsible for paying that high deductible out of your pocket.

Comprehensive coverage pays for damage to your auto for just about everything that isn’t caused by a collision. That includes theft, fire, vandalism, natural disasters and collisions with animals. Additionally, comprehensive coverage also pays for cracked windshields to be replaced with no deductible. Ask your Lott & Gaylor representative about comprehensive and collision specifics and how this valuable coverage can benefit you.

  • Like many other forms of insurance, there is a wide array of extras that you can add to your auto insurance policy. Ask your Lott & Gaylor representative for details.
  • Towing
  • Rental Reimbursement
  • Roadside Assistance
  • Stacked Liability
  • Gap Coverage

Just remember that making a claim for any of them, like towing, goes down as a claim on your record.