Understanding Insurance: Robins Financial Credit Union

Getting a car is a major investment –
an investment you’ll want to protect! A car is always at risk. Whether it’s
just a small fender-bender, which still costs money to fix… or a larger accident, whose repairs could cost
more than the car is even worth! You should know that most lenders
will require you to have car insurance – to protect their investment. Also, almost every state in the US has laws
requiring drivers to have insurance. But when you search for insurance, you’ll see
that there are lots of options out there – so it’s good to know the basics! Collision coverage pays for damage to
your vehicle from an accident. Lenders typically require at least
this coverage until your car is paid off. Personal injury protection covers medical
expenses and lost wages for you or any passengers injured in an accident. Liability insurance covers other people’s vehicle damage or medical bills, if you are responsible for an accident. And comprehensive coverage pays for
damage to the car caused by other events, such as vandalism, hail, or theft. Two other elements of insurance are uninsured motorist coverage, which kicks in if you’re hit
by someone without insurance, and GAP coverage which, is a bit of extra
insurance in case your car is in a total wreck, and you owe more money than the
vehicle is worth. Robin’s Financial always looks
for ways to enhance member service and provide more ways for you to save on insurance. If you’re looking for options, check out the auto insurance provided through Robins Insurance Services. Robin’s Insurance Services comparison shops “A” rated carriers to ensure you receive the best plan for the best price. Just make sure that when you’re comparing
quotes from different companies, you’re comparing apples to apples. Obviously, a plan that is cheaper may have limits
on its coverage, or it may be less comprehensive. So be sure to factor in the cost of
insurance when you plan to buy a car, and take a close look at your policy… Having the right insurance can be a big deal! If you have questions about insurance options, be sure to ask our experts at Robins Financial Credit Union. For more information, call, click,
or visit any of our branch locations.

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