Are You Done With Paying Comprehensive and Collision Insurance?

auto service callIn this economic climate we are all looking for ways to skim back, trim the fat, however dropping your collision/comprehensive coverage may be a costly decision.

We use our cars for the dreaded carpool, family vacations, to drive mommy dearest to her Doctor’s appointments, as well as to move your son back home for the second time. Lastly, you have just paid his tuition fees for the Fall Semester and this seems to be good time to scale back on expenses. You know you’re a safe driver! And you no longer are required to carry comprehensive and collision coverage, so why not drop it?

In the meantime your vehicle is damaged beyond repair. The other driver is at fault but doesn’t have adequate insurance or any insurance at all to replace your vehicle or the other two parked cars he/she has hit. You will now incur the costs of purchasing a new car.

For example: If at the time of loss, coverage was still in place, your 2010 vehicle valued at $11,000 was subject to a $1,000 deductible; and you and the carrier agree on a settlement of $9,000. A check for $8,000 would surely come in handy.

The average cost for a moderately priced sedan is between $25,000-$30,000. Finance agreements typically last for 4 years. A general rule of thumb would be to drop the coverage for average vehicles after 10 years. Antique or Classic automobiles would be an exception as their value often appreciates.

You can reference http://www.nadaguides.com for estimates of all types of vehicles. This type of information will help you make an informed decision as to whether or not you should keep Comprehensive and Collision coverage in place.

- Lavette Wright

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Spence-Chapin has had the pleasure of working with the wonderful John Petschauer, Inc. for 15+ years. They have always provided excellent service to us–with great knowledge, expertise, and patience — even in the most challenging situations. There has not been one time when they have not been immediately accessible to us, even at a moment’s notice. We thank them for their work and celebrate their 60th anniversary, while looking forward to working with them for another 60 years and beyond!
Spence-Chapin
I have been with Petschauer Insurance for over twenty five years. The staff is knowledgeable and professional. Petschauer writes both my personal and commercial insurance and they provide excellent counseling. I truly trust the firm and their staff. Thank you.
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Excellence in customer service and it’s a one stop shop for all my insurance needs.
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I have worked with various individuals at Petschauer and have found each to be responsive, courteous, and thoughtful. Each year, the contact for my auto policy proactively seeks new bids and has consistently saved me money on my policy.
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My family and I are long time personal and business clients of Petschauer Insurance. We sincerely appreciate your responsiveness and the quality of service that Petschauer provides. We have recommended your company to others because of our satisfaction with your service. We look forward to doing business with you for years to come.
Greg Weiss
Petschauer is great. I never had a problem.  They always call me back. Fabulous employees who are always willing to help.
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My company has called on Petschauer Insurance for many years for its insurance needs: liability, liquor, auto, etc. Working with Erwin and his team has been a pleasure from beginning to present. They are quick to answer any question and provide sound advice. I have always felt that my and our needs are important to them, in theory and practice. They go the extra mile, and we continue to be well served.
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From the first time I spoke with Lori Halloran at Petschauer Insurance, I knew she was a special person. She is a woman that conducts herself professionally, with compassion and full knowledge of all types of insurance Petschauer has to offer. While speaking with her, as she explained and answered all of my questions, I felt like I was speaking with family…which is another way to describe this company. She has a way of making very confusing decisions so simple and easy to understand. I even added another insurance policy to my two renewal policies because of her. My last renewals could have been processed via mail but I really wanted to take the time to drive and meet this wonderful woman face to face. She greeted me with this huge beautiful smile, which matched her personality perfectly. So, I just had to go back another time just to say “Hi” and bring her flowers in appreciation for all her help and also celebrate a new friendship. The Petschauer “Family” has been there for me since my first policy when I was 19 years old, and now I’m a “senior”. I’ve been with them forever and don’t plan on going anywhere else. Thank you Lori for your dedication and to the rest of the Petschauer staff.
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