Farmers National Bank branches, ATMs, and online and mobile banking services remain fully operational throughout the government shutdown.
Your deposits remain fully protected by FDIC insurance, which is not affected by a shutdown.
Auto insurance can seem overwhelming at first, so let's break it down.
Auto insurance is a contract between you and an insurance company. You pay a premium and in return, the insurer helps you cover the costs if you are involved in an accident or if your vehicle is stolen or causes damage to someone else.
Car Insurance Overview
Liability Coverage
- An essential safeguard that protects you from the unexpected financial burdens that can arise from injuries you may inadvertently cause to others.
Property Damage Liability Coverage
- Designed to protect you financially in the event that you accidentally cause damage to someone else's property, such as their vehicle.
Collision Coverage
- Vital component of auto insurance that ensures you're financially protected in the event of an accident, whether you collide with another vehicle or an object, regardless of fault. This coverage steps in to pay for the repairs to your car, bringing you peace of mind.
Comprehensive Coverage
- Designed to protect you from non-collision incidents, including theft, fire, vandalism, hail damage, or even those unfortunate run-ins with wildlife.
Uninsured/Underinsured Motorists Coverage
- Protects you in the unfortunate event that you are involved in an accident with someone who lacks insurance or has insufficient coverage.
Factors Affecting Your Rate
- Your driving record
- Vehicle type
- Location
- Age, gender and marital status
- Credit history
- Choosing deductibles and liability limits
Premiums Continuing to Rise
Several factors have been contributing to the rise in premiums:
- Inflation and higher repair costs—vehicle repair costs have rose over 13% over the past 2 years so insurance companies pay more per claim
- Increase in accidents and risky driving—traffic fatalities rose over 10% since 2020 indicating more serious crashes
- More frequent claims—like theft and hail damage also raises insurer’s risk
- A rise in lawsuits and attorney involvement means insurance companies pay more in legal costs and settlements
For more information on Insurance, please contact Farmers National Insurance.
Insurance products are not deposits of Farmers National Bank and are not protected by the FDIC. They are not guaranteed by Farmers National Bank and may be subject to risk. Any insurance required as a condition of an extension of credit by Farmers National Bank need not be purchased from Farmers National Insurance LLC or Bowers Group, and may be purchased from an agent or an insurance company of the customer's choice. Farmers National Insurance LLC and Bowers Group are subsidiaries of Farmers National Bank. Business conducted with Farmers National Insurance LLC and/or Bowers Group is separate and distinct from any business conducted with Farmers National Bank.
