Financial Security and Your Home Insurance Policy
- 5 31, 2017
- |Auto Insurance
- No Comments
There are more drivers on the road every year. With so many vehicles on the road, crashes will happen. The difference between a small aggravation and large pain can be the car insurance you own. But why is insurance required by law and just how much should you get? Required coverage varies by state/province but typically includes the following: Liability: This kind of insurance coverage will pay for the damage that you are responsible for. These damages might include personal injury, and property damage. Bodily injury damages include medical fees, and lost wages. Property damage includes damaged property and loss of use of property. It can also cover your defense and court costs if you are sued. State laws typically mandate minimum amounts of liability insurance, but larger amounts are available and usually recommended. Personal Injury Protection: Personal injury protection pays for the medical treatment for you or other people in your car, regardless of who was responsible for the collision. It is required in some states and optional in others. It can also pay for lost wages, service replacement and funeral costs. State government typically sets minimum amounts. Medical Payments: This coverage is available in states that are not considered no-fault; it pays despite who carries responsibility for an accident. This insurance will pay for an insured person's necessary medical or funeral expenses for bodily injury from an accident. Collision: This pays for damage to your car caused by a collision. Comprehensive: Protect your car from all non-collision damages by purchasing this type of insurance. This may include protection from robbery, vandalism, and fire or flood damage. Uninsured Motorist: This pays for damages when someone with insurance is in a crash caused by a driver who does not have liability coverage. Under-Insured Motorist: Many drivers have liability insurance that can't pay for all the expenses they are responsible for. Under-insured motorist coverage covers you in accidents involving those drivers. Other kinds of coverage, like car rental, can also be purchased. Your car insurance payments vary by company and will depend on multiple factors, including: *Your selected coverage *Your vehicle's make and model * Whether or not you have been in an accident * Your age, sex and marital status * Where you live Many drivers think they can get by without auto insurance, but it is honestly something you don't want to live without. Review your needs, research your options, and with the guidance of your insurance agent, make the decision that fits you best. Auto Insurance Clermont