Auto Insurance

What’s the Difference Between Comprehensive Auto Insurance and Full Coverage?

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If you own a car, car insurance is a necessity. There are many different types of car insurance. Knowing the different types of insurance policies can help you decide which type of policy to get for your vehicle. The professionals at Ed Thompson Insurance Agency servicing Omaha NE can answer your questions about different types of policies to help you make a decision. Here’s what you need to know. 

What Is Comprehensive Auto Insurance?

Comprehensive auto insurance is a type of insurance that covers non-collision events. Examples of the type of events that are covered under comprehensive auto insurance include fire, theft, and vandalism. If you live in an area where traffic is light and collisions are rare, comprehensive auto insurance may make sense for your vehicle. 

What Is Full Coverage Auto Insurance?

Full coverage auto insurance is a type of insurance that combines several different types of policies. Full coverage is the maximum amount of coverage that you can have on your vehicle at one time. Full coverage auto insurance includes collision insurance, comprehensive insurance, and liability. 

Which Insurance Is Right for You?

Sometimes it’s difficult to know what type of insurance is best for your vehicle. When you’re trying to decide what type of insurance policy to choose, it’s important to take into consideration the type of events that are covered as well as the costs. 

Contact Us for Auto Insurance

Many people choose Ed Thompson Insurance Agency servicing Omaha NE because we’re an independent insurance agency that works with many insurance carriers. This allows us to shop around for our customers and find the best policy for them. If you’re having a hard time deciding between comprehensive and full coverage, call today to speak with our insurance professionals. 

 

When Do You Need Classic Car Insurance Versus a Traditional Auto Policy?

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If you’re a car enthusiast or collector, you may be wondering if you need classic car insurance or a traditional auto insurance policy. Understanding what classic car insurance covers is critical to protecting your investment. At Ed Thompson Insurance Agency, we’ll work with you to find a policy that suits your needs and lifestyle, whether you’re a collector or you just enjoy tuning up and riding in your classic car seasonally.

What Standard Auto Insurance Lacks

Traditional auto insurance is not always the way to go for those interested in high-value, classic, and collectible cars. Most often, here’s what standard insurance policies lack:

  • They do not factor in the appreciation of classic cars over time.
  • They may limit coverage for specialty or rare parts.
  • They do not cover specialized repair shops.

When Classic Car Insurance Becomes Necessary

Classic car insurance is necessary if you own a vehicle with a collector or appreciating value. If you want to store your vehicle and you drive it sparingly, you may benefit from classic car insurance. Additionally, if you want to participate in local car shows while ensuring proper coverage for rare or specialty parts, classic auto insurance is critical.

Knowing what classic car insurance has to offer compared to traditional auto insurance is key if you collect or invest in high-value, classic vehicles. Even if you’re only a recreational collector, the right auto insurance can provide protection and peace of mind. To learn more about how classic auto insurance can come in handy for your way of life, contact Ed Thompson Insurance Agency for a quote and consultation.

Do You Need Someone to Explain Gap Insurance?

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If you’re a Nebraska driver, you are required by law to carry auto insurance. Many Nebraska drivers have questions about their auto insurance options. If you are in the Omaha, NE area, our team at Ed Thompson Insurance Agency is here to help. We’ve been working with drivers like you since 2005.

Understanding Gap Insurance

When most people think about auto insurance, they typically focus on liability, comprehensive, and collision coverage. However, if you’re purchasing insurance for a new car, you may want to consider Gap Insurance. GAP stands for Guaranteed Asset Protection. According to Experian, Gap Insurance becomes effective if your car is totaled in an accident. In such cases, the GAP policy pays the difference between what your insurance policy covers for the loss of your vehicle and the remaining balance on your auto loan.

Many car loan companies require you to purchase a GAP policy when financing a vehicle. Receiving money from a GAP policy can be a relief after an accident, ensuring you don’t have an outstanding loan on a totaled car. It also satisfies the loan company, protecting their investment. Even if your dealer doesn’t require GAP insurance, it’s worth considering for added financial security.

Call Us for Your Appointment Today

Understanding all of your auto insurance options is essential. At Ed Thompson Insurance Agency, we have the experience and dedication to help you find the best auto policy for your needs. Drivers in the Omaha, NE area have come to rely on us for excellent customer service. Call us today to schedule an appointment, and let us help you get the insurance coverage you need.

I’m Buying a New Car. Do I Have to Get Car Insurance?

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Car insurance is mandated by law in most states. At Ed Thompson Insurance Agency, serving Omaha, NE, we can assist car owners in obtaining the coverage they need to comply with the law. If you’re not yet a car owner but are planning to buy one soon, here’s what you need to know about car insurance.

Is Car Insurance Required?

Nebraska law mandates that all drivers carry proof of financial responsibility when they are driving. For most drivers, this means that they must carry car insurance. If you’re unsure whether you have met the minimum requirement to drive a vehicle in Nebraska, call your insurance agent to find out.

When Should I Get Car Insurance?

If you’re buying a new car, you’ll need car insurance to drive the car off the lot. Your car salesperson may require you to show proof of insurance before you can take ownership of the car. If you’re getting a car loan, you may be required to get a specific type of car insurance, like full coverage. The car loan will not fund unless you can produce proof of the required insurance.

What Kind of Car Insurance Should I Get?

To comply with state laws, the minimum insurance required is liability coverage. If you do not have a car loan, this is the type of insurance you must get. If you have a car loan, your lender may require you to get the maximum amount of insurance coverage available. This helps ensure that you’ll have the resources to repair the car until you’ve paid off the loan.

Do you have questions about what type of insurance is right for you? Call Ed Thompson Insurance Agency, serving Omaha, NE. We’re here to help you get answers to your questions about car insurance. Call today.

What is an SR-22 Form?

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When you own a car, one of your responsibilities will be to purchase auto insurance. There are many different options to choose when buying an auto insurance policy. If you’re in the Omaha, NE, area, we invite you to bring your questions to our Ed Thompson Insurance Agency team. We’ve been providing service for clients in your area since 2001.

Understanding the SR-22 Form

If you live in Nebraska, and your driver’s license is suspended or revoked due to a court action, you must still prove that any vehicles on your property are currently insured. This requirement refers to cars, motorcycles, trucks, or vans. To confirm that you have the required insurance, you must complete an SR-22 form. The SR-22 is the only form the State of Nebraska will accept as proof of insurance.

According to the Nebraska Department of Motor Vehicles, it’s your responsibility to notify your insurance company that you need an SR-22 form. Once you complete the form, it must be mailed or delivered in person to the Nebraska Department of Motor Vehicles. The DMV doesn’t accept photocopies or faxed copies of an SR-22 form. To make the form official, it must be signed by an insurance company official whose signature is authorized by the DMV.

Contact Us Today for Your Appointment

Each member of our team at The Ed Thompson Insurance Agency is dedicated to helping you find the best policy for your needs at an affordable price. Clients who live near Omaha, NE, will find our agents knowledgeable and responsive to their questions. We will review various insurance policies with you to ensure you know all your options. Call us for an appointment today so we can assist you with your insurance needs.

What’s the Difference Between Working With an Auto Insurance Company and an Auto Insurance Broker?

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The world of auto insurance can be confusing, especially when deciding between working directly with an insurance company or a broker. At Ed Thompson Insurance Agency, serving the greater Omaha, NE region, we’re here to clarify these options so you can make an informed choice.

Auto Insurance Companies

When you work directly with an auto insurance company, you purchase a policy from a specific provider. This means you’re limited to the company’s products and rates. While this can simplify the process, as you’re dealing with just one entity, it may not provide the flexibility to compare options from different insurers.

Auto Insurance Brokers

On the other hand, an auto insurance broker acts as an intermediary between you and multiple insurance companies. Brokers can access a wide range of policies and offer personalized advice based on your specific needs and budget. Their goal is to find the best coverage for you, often saving you time and money by comparing different plans.

Which Is Right for You?

Choosing between a company and a broker depends on your preferences. Working directly with an insurance company might be best if you value having a straightforward relationship with a single provider. However, if you prefer a tailored approach with more options, a broker could offer the flexibility and expertise you need.

Let Us Help You Decide

At Ed Thompson Insurance Agency, serving the larger Omaha, NE area, we’re committed to helping you understand your auto insurance choices. Contact us today if you’re leaning towards a direct company or exploring broker options. Our team is ready to guide you through the process and find the perfect solution for your auto insurance needs.

Auto Insurance for Used vs. New Cars

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At Ed Thompson Insurance Agency, we want our Omaha, NE, clients to enjoy the auto insurance they need when needed. This blog covers the difference between necessary coverage for a new car and a used vehicle. While you’ll buy the same policy regardless of your vehicle’s age, the coverage types in the policy vary.

What Stays the Same

Every driver in the state of Nebraska must insure their new or used vehicle with liability coverage that meets the minimum coverage requirements. This includes bodily injury and property damage coverages.

What Differs

When you purchase a new car, your lender may require you to carry full coverage, which includes collision and comprehensive coverage. That ensures that if the auto gets totaled or stolen, your insurance policy will fully cover what you owe the bank for the loan. Once you pay off your loan, you may want to keep the full coverage because you would have to pay for a new vehicle out of pocket without it.

When you own a used vehicle, an insurer typically suggests comparing the cost of collision and comprehensive coverage with the used auto’s replacement value. If you could replace the car for the annual premiums and deductible cost, buying full coverage doesn’t make sense. If a vehicle replacement costs more than the premiums and deductible, then accept the coverage and save money if anything happens to the vehicle.

Contact Ed Thompson Insurance Agency Today

Contact Ed Thompson Insurance Agency today to update your auto insurance. Don’t leave your Omaha, NE, driveway without the appropriate auto coverage.

Three Optional Auto Policy Coverage Types Available in Nebraska

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At Ed Thompson Insurance Agency, we serve Omaha, NE residents with customizable auto insurance that protects their financial security while they drive on city streets and country roads. Nebraska lets its drivers include options in their auto insurance policies that some states don’t offer, and today’s blog introduces our readers to those options.

Nebraska Auto Insurance Options 

Nebraska ranks among the states that allow policyholders to add coverage beyond liability, comprehensive, and collision. These coverage types can help you build a strong full-coverage auto policy. Still, the government allows three optional insurance coverage types to help policyholders round out their auto coverage in our fine state. Consider these options: 

  • Medical Payments/Medical Benefits: This coverage pays for your medical bills regardless of who caused an accident, including single-vehicle accidents.
  • Loan/Lease Payoff, or gap coverage: This pays for your loan or leases if you total your vehicle before paying it off.
  • Rental Car Reimbursement: This reimburses you when you need to rent a vehicle because yours got damaged in an accident. 

Whether you carry the state minimum or full coverage, you qualify to add these three optional coverage types to your policy.

Contact Our Insurance Agency Today 

Call or email Ed Thompson Insurance Agency to create a custom auto insurance policy that protects your financial security and adds convenience to your policy. Don’t leave your Omaha, NE driveway without proper insurance coverage. Let us help you create an auto insurance policy that provides for all your automotive needs. If you moved here from a state that didn’t offer medical payment coverage, grab your chance to enjoy this helpful backup to health insurance.

Auto insurance add-ons to consider

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At Ed Thompson Insurance Agency in Omaha, NE, we take our responsibilities to our customers very seriously. We are independent insurance agents and work for our customers, not for the insurance carriers. This allows us to provide more choices and more opportunities to get the best possible insurance at a great price. 

A basic auto insurance policy is liability coverage that protects other people from you. Most add-ons are about you and your vehicle. 

Collision

Collision coverage pays to repair or replace your vehicle if you are in an accident and are deemed the responsible party. If you lease a vehicle or have a car loan, you will need this coverage. 

Comprehensive

Comprehensive coverage covers your vehicle for a wide variety of hazards. One of the main ones is theft. It also covers you for vandalism, collision with a large animal, and other events that are out of your control. It covers glass, but there is a deductible. 

Full glass coverage

Full glass coverage replaces cracked or damaged glass without having to pay a deductible. 

Gap Coverage

Gap coverage is an important add-on if you have a relatively new vehicle and an auto loan. It pays the difference between what you still owe on your vehicle and the amount the insurance company pays you. 

Roadside service

Roadside service provides care if you have mechanical problems with your vehicle. It can provide a jump start, replace a flat tire, or tow you to a service station. 

Rental car

Rental car coverage is not for a car you rent for vacation but rather a rental car that you need when your vehicle has been damaged or totaled. It will allow you to have something to drive for a few days or weeks. 

Give our office a call at Ed Thompson Insurance Agency in Omaha, NE, to make an appointment to discuss your auto insurance needs. 

When Comprehensive Auto Insurance Makes A Lot of Sense

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One of the types of coverage you can acquire for your automobile is called “comprehensive” insurance. This type of coverage offers reimbursement for damage that results from incidents that don’t involve a collision. At Ed Thompson Insurance Agency in Omaha, NE, we provide auto insurance coverage to protect against expensive losses.

What Is Comprehensive Auto Coverage?

Comprehensive auto coverage involves damage to your vehicle that is not caused by a collision. It covers theft, fire, acts of nature, vandalism, impacts with animals, and falling objects. It is generally required for vehicles that are financed. Older vehicles may not benefit from comprehensive coverage because it only covers up to the cash value of the car minus the deductible amount.

Why Comprehensive Coverage May Be Important For Your Needs

If you live in an area that experiences frequent hailstorms, having comprehensive coverage to help pay for damage can be cost-effective. Similarly, if you live in a rural area where encounters with deer on the road occur on a regular basis, comprehensive insurance can be valuable coverage. You may live in an area where auto theft is a frequent problem, where this coverage can limit your loss. If you live in an area with periodic wildfires, comprehensive coverage can cover losses from fire.

Contact Us Today for Your Auto Insurance Coverage

Insurance coverage is a complex subject, and you may have many questions about your coverage. Our agents can answer your questions, so can be assured you have the coverage you need. We offer a broad range of insurance products for individuals and businesses. Contact Ed Thompson Insurance Agency in Omaha, NE today for a no-obligation quote on auto insurance coverage that’s right for you.