Financial Security and Your Home Insurance Coverage
- 10 31, 2020
- |Insurance Brokers
- No Comments
The amount of cars and drivers on the road increases each year. With so many vehicles on the road, accidents will happen. If you get in a car accident, the car insurance you have can make a big difference in how much you have to pay. But why do you need to own insurance and just how much should you purchase? Mandated coverage varies based on the state/province but typically includes the following: Liability: This kind of insurance will pay for the damage that you are responsible for. These damages may include bodily injury, and property damage. It can also cover your defense and court costs if you are sued. Recommended, more comprehensive levels of liability insurance can be purchased that take care of more events than the lower, state-mandated insurance. Personal Injury Protection: Personal injury protection pays for hospital bills and other medical treatment for you or your passengers, no matter who was responsible for the collision. It is required in some states and optional in others. The minimum amount of this insurance is typically set by the state. Medical Payments: This type of coverage is available in states that are not considered no-fault and will pay regardless of who is responsible for an accident. If this policy has been purchased, the insured person will receive payment for reasonable medical or funeral costs. Collision: This pays for damages to your car caused by an accident. Comprehensive: Applies if your car is stolen or damaged by causes other than a collision, including fire, wind, hail, flood or vandalism. Uninsured Motorist: Thousands of drivers are ignoring the law by driving a car without having the right amount of car insurance. This insurance will protect you if one of these drivers hit you. Under-Insured Motorist: This pays for collision expenses when a driver with insurance is in an accident caused by another person who does not have enough liability insurance to pay for the total amount of the damages. Other kinds of coverage, like car rental, are also available. State Farm Clermont