What Can Happen If You Don’t Have Auto Insurance?

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When you own a vehicle in Columbia, SC, you also need to have an auto insurance policy in place. It is illegal to drive without the state minimum amounts of coverage on your vehicle. Whether you just got a vehicle and you need to get coverage or your current policy is about to end, you need to make sure you get coverage as soon as possible. If you do not, here at Michael Taylor Agency, we know that the penalties can really cause a problem for you. 

South Carolina is a state that uses AILR which stands for Automobile Insurance Liability Reporting System. With this system, if you were to cancel or let a policy lapse, the insurance provider will immediately notify the DMV of the cancelation. With this new system in place, there is no hiding from the government. The DMV will send a letter, and you will have 20 days to prove that you do have sufficient coverage. If you fail to do so, you face having your license and vehicle registration suspended, and you may lose your right to operate any vehicle. You will also have to pay at least $200 in reinstatement fees to bring all of these things current when you do get adequate insurance coverage. 

As you can see, you want to make sure that you have at least the minimum about of coverage through an auto insurance policy. This is not something that you want to leave to chance. If you do not currently have a policy in place, are not sure if your current policy meets the minimum requirements, or if you are simply looking for a new policy, make sure you contact us at Michael Taylor Agency, serving Columbia, SC, today. We can provide you with a free quote for coverage and can make sure that you have the minimum amount of coverage as soon as possible. 

3 Home Insurance Myths: What is the Truth?

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Do you know what your home insurance policy will protect you from?

Owning a home is perhaps the most significant investment you will have to make in your entire lifetime. However, being a homeowner comes with both pride and security. In this article, we debunk the top three common myths about home insurance

Myth #1: Your Home Insurance Covers Earthquakes and Floods

There is a common myth that standard homeowners insurance protects you against earthquakes and floods, which is false. The truth is that many natural disasters are not covered under your standard policy. This is the reason why specialty earthquake and flood insurance policies are sold differently. These are unique insurance policies that are usually underwritten by a private insurer, such as Michael Taylor Agency in Columbia, SC, and will protect your home and belongings against damages due to floods or earthquakes.

Myth #2: Home Insurance Policies Fully Cover All Injuries that occur in Your Home

This is another misconception on standard home insurance policies. While the truth is that most visitors who come to your home are typically covered by the policy in the event of an accident inside your house, all family members and those who live in the home are not covered by this home insurance policy. Injuries to family members can be covered by separate health insurance policies from Michael Taylor Agency in Columbia, SC.

Myth #3: You May Not Need Home Insurance

Most people tend to believe that home insurance is unnecessary unless it comes from a bank or mortgage holder. However, this is not the case considering both the financial and emotional investment you have put in your home. You never know what might happen hence the need to protect your home. The homeowners’ insurance doesn’t only protect your home, but it also covers your belongings and possessions.

For more questions on what home insurance can and can’t cover, please reach out to our agents in Columbia, SC. We are looking forward to hearing from you!