Plymouth Rock Assurance Review

Founded in 1982, Plymouth Rock Assurance provides a selection of property insurance and bodily injury insurance products to customers across the states of New York, New Jersey, Pennsylvania, Massachusetts, Connecticut, New Hampshire.

In this Plymouth Rock Assurance review, we’ll compare this provider to other regional and national insurance carriers, helping you find the best insurance policy for your needs.

Plymouth Rock Car Insurance Coverage

Plymouth Rock Assurance offers a host of car insurance coverage options, allowing you to meet the minimum requirements in your state and go above and beyond those requirements when needed,

Bodily Injury Coverage: Limited to a fixed amount of money per person and per accident, bodily injury insurance covers the harm done to other people in an accident. It is designed to help them with their medical bills and other payments resulting from an accident.

Property Damage Coverage: Also fixed to a specific sum, property damage insurance is designed to cover the other driver’s vehicle in an accident, as well as other property that you damage.

Collision Coverage: A type of insurance that covers you for damages done to your own car. With collision insurance, you will be covered regardless of who caused the accident and you’ll also get cover if the accident involves an obstacle (tree, guardrail, wall, fence) as opposed to another vehicle. You will not, however, be covered if you hit a deer. One of the quirks of this coverage option is that you’re only covered for animal collisions if you swerve and hit a wall/tree.

Comprehensive Coverage: With comprehensive coverage, you’re generally covered for the things that collision insurance can’t reach. It covers deer collisions and other accidents involving animal strikes and it also covers damage caused by weather and vandalism.

Personal Injury Protection (PIP): This coverage option works like bodily injury coverage, only instead of protecting the other driver and their passengers, it protects you, covering you for lost wages and medical bills.

Medical Payments: A type of insurance specifically designed to cover your medical bills. Unlike PIP, medical payments coverage will not give you money lost as a result of missed work.

Underinsured/Uninsured Motorist Coverage: When the other driver’s insurance cannot cover your claims, either because they don’t have enough or they don’t have any, uninsured/underinsured motorist insurance will step in.

Plymouth Rock Assurance Auto Insurance Features

Plymouth Rock Assurance has three different levels of auto insurance: Plus, Preferred, and Premier.  There are different coverage options available at each of these levels and you can upgrade if you feel that those options will serve you well.

Some of the features offered at these different levels, along with the additional coverage offered to all policyholders, include:

  • Door to Door Valet Claim Service: Plymouth Rock auto insurance customers can arrange for their cars to be picked up from their homes and taken to a nearby repair shop. Once it has been fixed, it will be returned at a time that is convenient to the policyholder.
  • Guaranteed Repairs: If performed at a listed repair shop, all repairs will be guaranteed by Plymouth Rock.
  • Comprehensive Claim Forgiveness: Plymouth Rock promises that your insurance premiums will not increase just because you make a claim about a stolen or weather-damaged vehicle.
  • Get Home Safe: If, for whatever reason, you don’t feel safe to drive home, Plymouth Rock will cover your taxi ride. This can happen one time per year as part of most Plymouth Rock car insurance policies.
  • Glass Coverage: Plymouth Rock offers several coverage options and policy features related to windshield repair and glass repair. This includes a $100 glass deductible and a waived glass deductible repair.
  • New Car Replacement: If you have a new car that gets totaled within a specific timeframe, Plymouth Rock will replace it completely.
  • Crashbusters: Plymouth Rock will send a Crashbusters team to your location at your request. They will assess the damage done to your vehicle and can help you to file a claim.
  • Pet Injury: In the event that your pet gets injured during a car accident, some Plymouth Rock policyholders can claim a small portion of the vet fees. After all, your dog or cat needs cover too!
  • Roadside Assistance: With the Plymouth Rock roadside assistance program, you’ll be covered for some of the services charged on broken down vehicles at the roadside, including towing, tire changes, fuel delivery, and more. 
  • Key Replacement: Lost your key? With the right cover from Plymouth Rock, you can get a replacement set.

Plymouth Rock Car Insurance Discounts

Plymouth Rock discounts differ from state to state and from user to user. The biggest of these are multi-policy discounts, which are offered when you purchase multiple policies, and prepay discounts, which are offered when you pay your insurance premiums upfront. 

Other available discounts include:

  • Paperless Filing: Go paperless and do your bit for the environment while helping to reduce waste and saving a few cents in the process.
  • Membership Organization Discounts: Make big savings when you are a member of specific organizations.
  • Senior Discount: Drivers above a certain age can apply.
  • Good Student Discount: Offered to young drivers who obtain at least a B average.
  • Safety Features and Anti-Theft Devices: If your car contains key features like trackers, alarms, airbags, seatbelts, and anti-lock brakes, these discounts will be available to you.
  • Driver Training: Complete driver training courses to prove your skills, show your commitment, and make some savings.
  • Low Mileage: Drive less and you could pay less.

Other Plymouth Rock Insurance Products

In addition to car insurance, the Plymouth Rock Assurance Corporation offers a wealth of insurance products. These are also confined to a very small part of the United States and include:

Home Insurance

Plymouth Rock offers comprehensive insurance quotes for all homeowners. These policies will cover you for the breakdown of key appliances, loss of personal items, identity theft protection, and even protection against hacks and cybercrime.

You can apply for Plymouth Rock home insurance directly if you live in New Jersey, New York, New Hampshire, Pennsylvania, and Connecticut.

Renters Insurance

Renters insurance will cover you for personal losses in the home, as well as providing liability protection for anyone who gets injured in your home. Plymouth Rock renters insurance is available in the same states as Plymouth Rock home insurance.

Life Insurance

Plymouth Rock life insurance policies are only available in the state of New Jersey. Both term life insurance and variable life insurance policies are available, of which term life is arguably the better choice.

Policyholders can opt for a term of between 10 and 30 years, with the insurance premiums and payouts dependent on your age, health, medical history, and other key factors.

Umbrella Insurance

An umbrella insurance policy essentially increases your liability limits, going the extra mile to protect you. It is a supplemental insurance policy, designed to be added onto car insurance or homeowners insurance and to protect you and your family in the event that a claim is made against you.

Plymouth Rock Customer Satisfaction and Claims Satisfaction

Plymouth Rock has good ratings from customers and experts. It has an A- rating from AM Best, which isn’t the highest possible rating but is a great effort from a relatively small company (when compared to giants like GEICO and State Farm).

The insurance claims process is quick and easy, and while there are a number of bad reviews and complaints out there, Plymouth Rock seems committed to remedying these as quickly and completely as possible.

Furthermore, if you have a bad experience with Plymouth Rock, make your discontent clear and they will make a donation to a charity of your choice. This proves that Plymouth Rock is committed to keeping customers happy and willing to do whatever it takes.

Bottom Line: Car Insurance in New England

Plymouth Rock is a very highly-rated insurance company offering a selection of products directly and through insurance agents. It has accident forgiveness and claims forgiveness; offers a multitude of ways to pay your premiums, and the support team is available around the clock. 

If you reside in one of the states where Plymouth Rock operates, visit PlymouthRock.com, get a quote, and start comparing. If not, don’t worry, as there are many other great insurance company reviews to check out, including The General, Progressive, and Esurance.

Plymouth Rock Assurance Review is a post from Pocket Your Dollars.

Source: pocketyourdollars.com

What Is Gap Insurance, and What Does It Cover?

Woman about to drive off in a carWhen purchasing or leasing a new car, you have several insurance coverage options. When selecting coverage, you will likely know if you want to have collision coverage or not, but will you know what gap insurance and whether to select that option? If you are driving your owned vehicle or a leased one, and it is totaled, your collision coverage insurance will cover your vehicle’s cash value. The coverage will help you to purchase a another car. However, what if you owe more on your car than it’s worth? That is where gap insurance comes in. Here’s what you need to know about this type of coverage.

What is Gap Insurance?

Gap insurance protects you from not having enough money to pay off your car loan or lease if its value has depreciated, and you owe more on your car than it is worth. It is optional insurance coverage and is used in addition to collision or comprehensive coverage. It helps you pay off an auto loan if a car has been totaled or stolen, and you owe more than its worth. Gap insurance might also be known as loan or lease gap coverage, and it is only available if you are the first owner or leaseholder on a new vehicle.

Some lenders require individuals to have gap insurance. In addition to collision and comprehensive coverage, gap insurance helps prevent owners and leasers from owing money on a car that no longer exists and protects lenders from not getting paid by a person in financial distress.

How Gap Insurance Works

Car crushed by a fallen tree

If you buy or lease a new car, you may owe more on the vehicle than it is worth because of depreciation. For example, let’s say you purchase a new car for $35,000. However, a year later, the car has depreciated and is only worth $25,000, and you owe $30,000 on it. Then, you total the car. Comprehensive insurance coverage would give you $25,000, but you would still owe $5,000 on the vehicle. Gap insurance would cover the $5,000 still owed.

Without gap insurance, you would have had to pay $5,000 out-of-pocket to settle the auto loan. With gap insurance, you did not have to pay anything out of pocket and were likely to purchase a new car with financing.

What Gap Insurance Covers

Gap insurance covers several things and is meant to complement collision or comprehensive insurance. Gap insurance covers:

  • Theft. If a car is stolen and unrecovered, gap insurance may cover theft.
  • Negative equity. If there is a gap between a car’s value and the amount a person owes, gap insurance will cover the difference if a car is totaled.

Gap insurance also covers leased cars. When you drive a new, leased car off the lot, it depreciates. Therefore, the amount you owe on the lease is always more than the car is worth. If you total a leased car, you’re responsible for the fair market value of the vehicle. If you lease, you can purchase gap coverage part way through your lease term, although many dealerships require both comprehensive and collision coverage and strongly recommend gap coverage.

What Gap Insurance Doesn’t Cover

Gap insurance is designed to be complementary, which means that it does not cover everything. Gap insurance does not cover:

  • Repairs. If a car needs repairs, gap insurance will not cover them.
  • Carry-over balance. If a person had a balance on a previous car loan rolled into a new car loan, gap insurance would not cover the rolled-over portion.
  • Rental cars. If a totaled car is in the shop, gap insurance will not cover a rental car’s cost.
  • Extended warranties. If a person chose to add an extended warranty to an auto loan, gap insurance would not cover any extended warranty payments.
  • Deductibles. If someone leases a car, their insurance deductibles are not usually covered by gap insurance. Some policies have a deductible option, so it is wise to check with a provider before signing a gap insurance policy.

Reasons to Consider Gap Insurance

There are several situations you should consider gap insurance. The first is if you made less than a 20% down payment on a vehicle. If you make less than a 20% down payment, it is likely that you do not have cash reserves to cover them in case of an emergency and that they will be “upside down” on the car payments.

Additionally, if an auto loan term is 60 months or longer, a person should consider gap insurance to ensure that he or she is not stuck with car payments if the vehicle is totaled.

Finally, if you’re leasing a car, you should consider gap insurance. Although many contracts require it, the vehicle costs more than it’s worth in almost every situation when you lease.

Is a Gap Insurance Worth It?

Gap insurance keeps the amount that a person owes after buying a car from increasing in case of an emergency. Therefore, if someone does not have debt on his car, there’s no need for gap insurance. Additionally, if a person owes less on his car than it is worth, there’s also no need for gap insurance. Finally, if a person does owe more on a vehicle than it is worth, he may still choose to put the money that would be spent on gap insurance every month toward the principal of his auto loan.

If a person owes more on his car than it is worth and would be financially debilitated by having to pay the remainder of his car payments if his vehicle was totaled or stolen, then gap insurance might be a saving grace.

If the extra cost of gap insurance strains your budget then consider ways to keep your vehicle insurance costs down without skipping gap insurance.

The Takeaway

"ARE YOU COVERED" written on a highway

Gap insurance covers the amount that a person would still owe on a vehicle after it is stolen or totaled, and after comprehensive insurance pays out. It prevents people from continuing to owe on a car that no longer exists. While it doesn’t make sense for everyone to purchase gap insurance, it is often smart for people who have expensive vehicles that are worth far more than a person owes. It is also something to consider when you are leasing a vehicle.

Tips for Reducing Insurance Costs

  • If you need a little additional help weighing your insurance options, you might want to consider working with an expert. Finding the right financial advisor that fits your needs can be simple. SmartAsset’s free tool will match you with financial advisors in your area in five minutes. If you’re ready to learn about local advisors to help you achieve your financial goals, get started now.
  • You may want to consider all the insurance options available that are suitable for your unique situation. By doing so, you save money. A free comprehensive budget calculator can help you understand which option is best.

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Source: smartasset.com