loya casualty insuranceFred Loya Casualty Company started to provide insurance policies in 1975 in El Paso, Texas. With about 40 years of experiences, the company still, however, maintains most of its traditional culture yet blends it with some modernizations, for example, online payment, and online quotes.

Casualty Insurance

Some people may think that casualty insurance is about life, health, and property, but this is not correct. Insurance policies are divided into three categories including Life, Fire-Marine, and Casualty. Those divisions are quite unclear because insurance companies also use different underwriting that may cause coverage overlapping. Since 1946, Casualty Insurance category has been used as a blanket term for the liability except marine, medical care, and some physical property.

Nowadays, the most common examples of casualty insurance are homeowners and auto insurance. It is the foremost reason that the term “full auto coverage” means the minimum liability insurance required by states’ regulations. Most types of coverage which cannot be under casualty insurance category and it will be optional, for examples collision and comprehensive.

Liability coverage means that the insurance company will provide financial protection for everything you might be sued for; especially in the case of auto insurance. It is limited to injuries and damages suffered by another person caused by an accident in which you are at fault.

Liability and Casualty Coverage

Loya Casualty Insurance Company offers more than just the liability, but also casualty coverage. Some types of coverage provided by the company are as follows:

• Liability Coverage: it covers injuries and damages sustained by another person involved in the accident. Apart from this, other types of coverage can be categorized as a casualty.
• PIP: it covers injuries, lost wages, and even medical expenses for you, NOT the other person involved in the accident.
• Collision: Collision coverage covers vehicle damages following an accident.
• Medical Payment: because PIP handles many things, it is good to have another coverage specially purchased for medical cost.

Other than the mentioned coverage, Loya Casualty Insurance Company also offers DRP (Direct Repair Program) which gives lifetime warranty of covered repair and rental arrangements whether or not you purchase rental reimbursement coverage. Additional coverage includes but not limited to:

• Rental Reimbursement Coverage

If your car is rendered inoperable after an accident, Loya Casualty Insurance also provides rental reimbursement coverage. It pays for rental of another vehicle, but the policy applies only if your vehicle is inoperable as a result of a collision.

It does not cover other causes of car damages for examples electrical breakdown, mechanical malfunction, freezing, and all tear and wear issues. The maximum coverage is $25 a day up to $250 in total for a 12 months period. Also to rental reimbursement, you will also get $100 for the towing cost.

Rental Reimbursement coverage should not be confused with Transportation Expense coverage. Although either of them pays for rental of another vehicle, the latter applies in the event of auto theft. In such case, the company provides a maximum of $10 a day up to $300 for your transportation expense.

• Comprehensive

For other-than-collision causes of vehicle damages, Loya Casualty Insurance covers for repair and original replacement parts or equipment. The company will pay more than the deductible you have. There is at least ten insurance perils covered by Comprehensive including:

1. Missiles or falling objects
2. Fire 7. Vandalism
3. Theft or larceny
4. Earthquake or Explosion
5. Windstorm
6. Flood, water, or hail
8. Civil commotion or riot
9. Contact with animals including bird
10. Breakage of glass

Especially for breakage of Glass, you can choose to consider it a loss by collision, even when the actual cause is not a collision.

Non-Standard Coverage

Loya Casualty Insurance is, in fact, one of the leading insurance providers of non-standard coverage in Texas. Based on the company policy, its agents are required to settle physical damage within 24 hours, and it does also provide legal defense above the policy limits if necessary.

Non-standard auto insurance refers to insurance coverage used by drivers with worse than the average driving record. Due to their circumstances, it is nearly impossible for them to get the regular or standard coverage from any insurer. They are considered high-risk drivers and, therefore, insurance providers are reluctant to provide coverage.

The term “high-risk” is often used in describing drivers with DUI conviction and a bad credit score, but there are other variables put into the account. For examples age (teenage or elderly drivers), home address (high rate of criminal activity in the neighborhood), past insurance policy violation, some serious accidents, etc. Since they do not meet the criteria to be as “safe-consumer” category, non-standard coverage is provided. It is usually more expensive, but it gives at least the chance to drive legally on the road without any other violation.

States Regulation

Every state has its rules concerning auto insurance. Some of them even have “no-fault” statute, meaning insurance companies will have to pay for liability for the insured. Loya Casualty Insurance Company has its branch offices in many states in the country, and it makes sure that your policy complies with your state’s regulation.