Car Insurance 101

Demystifying coverage

Car Insurance 101

Demystifying coverage

What Is Car Insurance?

Car insurance is coverage that customers buy to protect themselves and their cars against the hazards that can occur as a consequence of owning and driving a car. The specific terms and monetary value of an insurer’s car insurance policies vary from state to state in accordance with state regulations and what coverage options are offered by the insurance company and ultimately what’s chosen by the policyholder.

How Does Car Insurance Work?

Most car insurance companies in the United States are traditional stock companies that determine policy rates based on broad demographic and driving patterns. In other words, filed rates often translate into better drivers tending to subsidize worse drivers.

Noblr Is Different

Bucking industry norms, Noblr uses technology to reward its members’ good behind-the-wheel habits with highly accurate, competitive rates tailored to the policyholder’s real-world driving. Noblr operates through a reciprocal exchange business model, which is a capital efficient model that gives policyholders a voice in the direction of the company.

Do I Need Car Insurance To Drive?

Yes. The majority of states have minimum car insurance requirements. You can check your state’s car insurance requirements
via its DMV website.

Noblr is currently available in Colorado, Texas, Ohio, Arizona, and New Mexico as approved by each state’s respective Division of Insurance. We are coming to other states soon.

How Do I Get Car Insurance?

At Noblr, getting started is easy. Get started by getting a quote online. If you meet our basic eligibility requirements and like your quote, you can buy a policy right away. For an even more accurate quote, you can download the Noblr app on iOS or Android and take an obligation-free 7-day test drive first. After your test drive, you can see your potential savings, purchase a Noblr policy, have Noblr coverage, and see meaningful savings based on how you actually drive.

What Do Car Insurance Policies Cover?

Noblr offers a variety of standard coverage options, including the following. Coverage limits, deductibles, policy terms and conditions, and certain exclusions may apply, however, so please read your insurance policy for details.

Roadside Assistance

Every Noblr policy comes with roadside assistance.

Help is on the way if:

  • You need a tow
  • You have a flat tire
  • You run out of gas
  • Your battery needs a jump
  • You’ve locked your keys in your car

Physical Damage Coverage – Collision & Comprehensive

Collision coverage pays for repairs to your car if it runs into something, or if something runs into it — if someone hits you when you’re driving home from work, if you roll your car, etc. Comprehensive coverage (a.k.a. “Comp”) pays for repairs to your car if something happens to it when it’s just minding its own business. Theft, vandalism, hail, fire, those pesky tree limbs in a storm, animal strikes— Comp has your back in those situations.

Normal wear and tear to your car such as mechanical failure or road damage to your tires is not covered.

Your “deductible” is the amount you have to pay towards the damage amount before coverage kicks in. Let’s say you have a $500 deductible. If a tree falls on your car and the repairs cost $3,000, then Noblr deducts $500 and pays $2,500.

PS: If you pay a car loan or lease your car, then your lender/lessor most likely requires you to buy Collision & Comp coverage.

Bodily Injury And Property Damage

Most states require drivers to have Bodily Injury and Property Damage coverages, as they help ensure that you can treat other people right if you’re at fault for an accident.

Bodily Injury coverage, or “BI”, kicks in if you’re in an accident and found to be at fault for injuring another person. BI can cover the medical costs and lost wages for someone else’s injuries and may pay for your legal defense if you’re sued for these damages. Subject to your policy’s limit of liability.

Property Damage, or “PD,” covers you when you’re the responsible party for damage to someone else’s property in an accident. Examples of this kind of property include peoples’ cars, telephone poles, guard rails, etc. PD pays for the costs to repair that damage. Subject to your policy’s limit of liability.

The limits you see when you choose your coverage refer to the highest amount paid per person or the most paid for a single covered incident.

Uninsured Motorist

Uninsured Motorist, or “UM” coverage, has you covered if someone else drives without enough insurance. It pays for your medical bills if a driver who hits you doesn’t have any or enough car insurance. Your UM limits are the highest amount of costs covered per person and per incident.

Medical Payments Or Personal Injury Protection

“Med Pay” coverage pays for your medical bills in the event of an accident regardless of who is at fault. If you’re injured in an accident, this coverage can be used to pay your health insurance deductible or coinsurance payment.

Ready more about coverages.

How Are Car Insurance Prices Determined?

Car insurance companies determine prices in a variety of ways that range from boring to baffling. Noblr believes in a fairer, more transparent process.

At Noblr, your premium consists of two parts: fixed & variable. The fixed rate is the basic premium you pay for insurance and is consistent month-to-month. The variable rate changes each month based on how, where, how much, and when you’re actually driving, giving you the ability to lower your own rates each month, depending on your driving.

Why Won’t Some Car Insurance Companies Cover Me?

We can’t speak for everyone but as with all kinds of insurance, many factors play into Noblr coverage eligibility, including your level of experience and driving record.

Some reasons why Noblr may not offer to sell you a policy include if:

  • You have been convicted for a DUI or DWI
  • You have too many accidents, claims, and/or traffic violations on your driving record
  • You have missed too many payments
  • You have submitted a fraudulent claim

Ready to see how much you can save by driving responsibly with Noblr? Get a quote now.

Get a quote today to see how much you could save.

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