Broad form insurance is a simple, very limited coverage that is required here in the Tacoma, Washington area. Here we will cover everything you need to know about broad form insurance. This is an important read, and we suggest that you give us a call even after reading because you want to understand the gaps in your coverage when getting broad form insurance.
What is Broad Form Insurance?
Broad form insurance only covers the driver. Broad Form insurance is popular for executives and employees who are driving a company car, or the company is offering to pay for the insurance on only that driver. The insurance is specifically for one person, and one person only. If anyone else drives your car, they aren’t covered. The circumstances don’t matter at all. If they are driving, they aren’t covered. The driver is the only one with insurance. This isn’t a policy for those with a family or spouse, who may need to drive the car. Also, if another driver crashes into your car, broad form insurance doesn’t cover the damage to your car. You do have coverage for the damage to the other car. You also aren’t covered if you have injuries.
What Are The Gaps In Broad Form Insurance For Tacoma, Washington?
Washington is one of the few states that even allow something as sheer as broad form insurance. Its not allowed in all states. Here are the gaps you will encounter with a Broad Form insurance policy in Tacoma, Washington. It is really important that you read through these.
- Broad form auto insurance policies provide no comprehensive or collision coverage. You have no coverage for your own injuries or damages to your own vehicle.
- You may not actually save money. If you get into an accident and are sued for damages, your personal assets will be at risk. Buying a full-coverage policy will probably save you money in the long run, because you will have coverage for a wide variety of situations.
- You may not have coverage while driving other automobiles or vehicles, such as motorcycles, ATVs, and commercial trucks.
What you need in Tacoma for broad form insurance:
Deciding if you need broad form auto insurance requires asking yourself a few questions. First, decide what you actually need coverage for. You aren’t going to want broad form insurance if you plan on driving a motorcycle. If you don’t drive much, are a single person and you only have one car, then a broad form insurance plan may be the perfect option for you to get the coverage you need without having to pay for anything extra.
The key to broad form insurance is to understand that you are working with a policy that is super limited. There isn’t much coverage, and its the bare minimum required in Washington State. Keep in mind that there are those rare incidents where you may wish you had more coverage. That’s where we can help you.
Please give us a call at (253) 273-7064 to learn more and ask us some questions. We are happy to go over it with you to ensure you are making the right decision.