INSURANCE 101

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INSURANCE 101

• What every college student needs to know about
  insurance

Presented April 28, 2009, 2 3 p.m. ET
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Todays Presenters
Toiya Sosa GEICO Public Affairs
Passing this course could save you money!
John Balfour GEICO Event Marketing
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Our information-packed agenda
Insurance terms to know
Types of auto insurance coverage
What youll need to get a quote
What to do if youre in an accident
Renters insurance 411
Insurance discounts for students
Staying safe on the road
Tips for preventing accidents
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A quick insurance quiz

• If you drive a car, do you have to have auto
  insurance?
• What does auto insurance cover?
• What could affect the cost of auto insurance?
• Do you have to pay for your own auto insurance?

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Insurance terms to know
Coverage Protection and benefits provided in an
insurance contract. Condition The portion of
the insurance contract which outlines the duties
and responsibilities of both the insured and
the insurance company. Deductible The portion
of a claim you pay out of pocket. Choosing a
higher deductible will lower your insurance
premium. Limit The maximum amount of protection
purchased by the insured for a specific
coverage. Limits of Liability The amount
specified in your policy up to which the
insurance company will protect
you. Premium The price of the insurance policy
that the insured pays in exchange for insurance
coverage.
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Four Primary Types of Auto Insurance Coverage

• bodily injury - liability coverage
• property damage - liability coverage
• comprehensive - physical damage
  coverage
• collision - physical damage
• coverage

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Bodily Injury Liability Insurance

• Pays damages for bodily injury or death resulting
  from an accident for which you are at fault and
  provides you with a legal defense. This coverage
  is subject to the terms, limits and conditions of
  your policy contract.

Bodily Injury Liability Insurance
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Property Damage Liability Coverage

• Pays for damage to someone else's property
  resulting from an accident for which you are at
  fault and provides you with a legal defense. This
  coverage is subject to the terms, limits and
  conditions of your policy contract.

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Comprehensive Physical Damage Coverage

• Pays for damage to your car from theft,
  vandalism, flood, fire or other covered perils.
  This coverage is subject to the terms, limits and
  conditions of your policy contract.

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Collision Physical Damage Coverage

• Pays for damage to an insured vehicle when it
  hits or is hit by another car or object, or if
  the car overturns. This coverage is subject to
  the terms, limits and conditions of your policy
  contract.

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What youll need to get a quote

• VIN (vehicle identification number) of all
  automobiles that will be quoted
• Drivers license number
• Driving history for 5 years (tickets and
  accidents)
• Current address
• Current insurance policy to match coverage limits

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What to do if youre in an accident

• Pull over to a safe location if possible
• Provide assistance to any injured person and call
  911 if needed
• All drivers must identify themselves to each
  other 
• Write down the names, addresses, phone numbers,
  license plate numbers, and an account of what any
  witness observed
• Document all info on drivers licenses, vehicle
  registrations, vehicle tag numbers, and insurance
  cards
• Call the police to come take an accident report
• If they dont come or are not called you have 10
  days to file a written report at the police
  station.
• Take pictures of all involved vehicles and the
  accident scene
• Be observant of any unusual circumstances
  surrounding the accident scene and take pictures
• Use your cell phone if you dont have a camera
  and even include shots of the other drivers
• Dont sign any release forms or agree to pay for
  any damages

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Renters insurance 411

• What would you do if
• Your apartment burned down?
• A thief broke in to steal your things?
• A guest injured himself in your kitchen?
• The home you're renting suffered water damage?
• Protect your personal property
• Clothing, TV, furniture, iPod, laptop
• Liability coverage gives you financial protection
  if someone is accidentally injured on the rental
  property

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Insurance discounts for students

• Money is often tight for students. With GEICO,
  we can help you save. You could qualify for these
  money saving discounts.
• Good Student Discount - available when you
  maintain a "B" average or better
• Air Bag Discount - for cars equipped with driver
  or passenger side air bags
• Good Driver Discount - if you have not been in an
  accident within the last 5 years
• NSCS membership discount!
• Discounts available in most states.

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Staying safe on the road
Staying safe on the road

• Visit geico.com/auto/safety

GEICO Educational Foundation The GEICO
Educational Foundation promotes traffic and
highway safety and provides related print and
online materials free of charge to everyone,
whether youre a policyholder or not. One of its
primary goals is to deliver information that will
help teen drivers become safe drivers.
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Top 10 tips for preventing accidents

• Develop the right attitude about driving
• Get as much supervised practice driving
• ALWAYS wear your seat belt
• Underage drinking and drug use is illegal
• Limit your passengers
• Limit your night driving
• Keep it slow and safe for starters
• Train for poor weather conditions
• Cell phones are for emergency use only on the
  road
• Drive a safe vehicle

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Q A with your presenters

• John Balfour
• jbalfour_at_geico.com
• Toiya Sosa
• tsosa_at_geico.com

geico.com geico.jobs nscs.org/geico