Download - The Spectrum Magazine - Redwood City's Monthly ...

Insurance Tips: Top Reasons to Carry Collision Insurance on Your Vehicle
By Hector Flamenco, Special to The Spectrum
Collision insurance is an important form of auto insurance coverage
that provides a payout when the policyholder’s vehicle is damaged in an
accident. Despite the fact that this essential form of car insurance coverage
offers valuable protection that can save a driver thousands of dollars, many
policyholders opt out of carrying collision insurance.
One of the most important reasons to carry collision insurance is that it
may be required, especially if a vehicle is being purchased through a bank
loan. Banks require collision insurance because it protects their interests;
they’re lien holders, so they need a way to ensure that if a driver’s car is
totaled in an accident, the bank or credit union will still receive the required
funds to pay off the loan. Collision insurance is required by every bank and
credit union that offers auto loans, along with comprehensive insurance
coverage equal to the value of a vehicle. Keeping collision insurance as part
of auto insurance coverage ensures that a driver is keeping up with the terms
of his or her loan agreement, and if a driver doesn’t provide regular proof of
this coverage, the bank has the option to buy the coverage for the driver. This
is usually far more expensive for a driver, as banks don’t look for the best
rates when buying insurance to fulfill the terms of a loan agreement.
Some drivers don’t purchase collision insurance because they drive
infrequently and, as such, they assume that the possibility of a claim is fairly
low. However, most accidents occur within three miles of a driver’s home,
and regardless of the value of a vehicle, collision coverage can save a driver a
tremendous amount of money. A totaled car can stop a driver from getting to
work and earning; a single accident can prevent drivers from making enough
money to get by, leading to a host of financial issues. Liability coverage
isn’t enough. Drivers also sometimes confuse collision coverage with
comprehensive coverage, so they buy only one or the other. Comprehensive
coverage is a separate form of coverage that provides payout when a car is
damaged by something like a falling tree limb or a theft attempt. It’s not the
same as collision insurance, and both forms of coverage are necessary to
keep a vehicle fully protected.
The cost of collision coverage can be high for some drivers, especially
drivers who have made a claim on their auto insurance coverage or drivers
in high-risk groups. Nevertheless, drivers should look into ways to make this
coverage affordable. By checking prices from a few insurance providers and
getting discounts, any driver can afford this essential coverage.
Editor’s note: This article is for general information only and is not a professional
consultation. Always seek specific information from a licensed insurance professional. Hector
Flamenco is an agent with State Farm Insurance. Visit his website at www.flamencoinsurance.com.
Enter
The Spectrum
Trivia Sweepstakes
on Page 29
Senior Activities
The following activities are open to the public during
the month of August at the Veterans Memorial Senior
Center, 1455 Madison Ave., Redwood City.
Friday Movies for Everyone
Every Friday, 1:15 p.m. (unless otherwise announced)
Come to the Veterans Memorial Senior Center in August for a free feature
movie in our state-of-the-art movie theater!
Friday, Aug. 5: “The Lincoln Lawyer”
Friday, Aug. 12: “No Strings Attached”
Friday, Aug. 19: “The Conspirator”
Friday, Aug. 26: “Kung Fu Panda”
SamTrans Mobility Program
Tuesday, Aug. 16
Join the Mobility Ambassadors for a trip to the San Francisco Airport on a
public SamTrans bus. While at the airport, you will visit the International
Terminal, the Airport Museum and the new American Airlines Terminal 2.
Call Donna at 650-369-6650 for information and to sign up. Space is limited.
AARP 746’s Luau Luncheon
Wednesday, Aug. 17
Wear your muumuu or a wild Hawaiian shirt and join the fun. We have
a great meal and entertainment planned. You may even go home with a
pineapple. Call 650-780-7259 for reservations.
Computer Classes for PC Users
We have a selection of computer classes beginning in September. Please
call 650-780-7274 or go online at www.redwoodcity.org/parks/adults50/
computers. Sorry, not for Apple or Mac users.
Adaptive PE Classes
Weekly: Mondays through Fridays
A fitness program for you! Our program is designed for individuals at all
levels of ability, including those with limitations and disabilities. The longterm
goal is to increase the level of function and wellness of all participants.
Come join a great group of people in a great program. Call 650-368-7732 or
visit www.adaptivepevmsc.org for more information.
Save the Date!
Our Annual Italian Dinner
Friday, Oct. 7
This terrific dinner is being held to benefit important programs here at the
Veterans Memorial Senior Center. Watch this space next month for more
information about the night!
To learn more about the Veterans Memorial Senior Center, call 650-780-7270.
Redwood City Parks, Recreation and Community Services Department provides
recreational facilities and activities for all ages and interests, and supplies
building and custodial services for city buildings. Redwood City Parks also
operates the Veterans Memorial Senior Center and the Fair Oaks Community
Center, providing social, educational and cultural activities, as well as information,
referral and counseling services to persons living in Redwood City and neighboring
communities. Redwood City Parks is more than you think! Its website is
located at www.redwoodcity.org/parks.
The Spectrum 21