What is a lien holder?
The lien holder (or loss payee) is an entity that has a financial interest in the vehicle. In most cases this is the bank or lending institution that has financed the loan on the vehicle.
What coverage do I need if my car is leased?
If your car is leased your leasing company will require you to have collision and comprehensive coverage. This coverage protects the vehicle in the event of a claim and since the leasing company technically owns the car, they will require you to maintain this coverage. Some leasing companies also require higher than minimum liability limits.
What is a “restricted” policy?
A “restricted” policy is an optional endorsement that restricts coverage under your policy to only those individuals who are specifically listed on your policy.
What is a deductible?
A deductible is the portion of the claim that the policyholder must pay before the insurance company pays. The higher the deductible, the lower the cost of the coverage.
What is “liability only” insurance?
“Liability only” typically refers to a minimum coverage level that is required in most states. Liability coverage pays for damages to other people and property caused by you in an accident.
What is “full coverage” insurance?
“Full coverage” is a term that is often used to describe how much automobile insurance coverage someone has on their policy. Although there is really no such thing as “full coverage”, that term is intended to mean that the policy has more than just Liability coverage and includes collision and comprehensive coverage.
Do I need collision and comprehensive coverage?
If you are financing or leasing your vehicle, collision and comprehensive coverage will be required by your financing or leasing company. If you own your vehicle these coverages are optional for you but provide protection for your vehicle in the event of a covered incident. The key things to consider are the value of your vehicle (what the insurance company will pay you in the event of a loss, minus the deductible), and the cost of collision and comprehensive coverage.
Do I need to include all of the drivers/residents of my household?
Yes, all residents of your household age 14 and older (in most states) and any other individuals who regularly operate your vehicle must be either listed as a driver or excluded from coverage.
Can someone else make my down payment for me?
Yes, that is acceptable.
What types of payment options does Murren Insurance Agency?
We accept payments via Credit/Debit cards and electronic checks (not available in all states).
What types of payment plans does Murren Insurance Agency?
In most states we offer monthly payment plans and our quote defaults to the lowest plan we offer.
Can I buy a policy if I have a suspended or revoked driver’s license?
Yes, as long as you have been licensed at some point (e.g., have a driver’s license number) you can purchase a policy with The General.