Financial Security and Your Home Insurance Coverage
- 10 31, 2022
- |Insurance Brokers
- No Comments
There are more cars hitting the road each year. With so many vehicles on the road, accidents will happen. The difference between a little aggravation and large pain can be automobile insurance. So how do you know what insurance you need and how much to purchase? Car accidents can lead to a variety of different expenses, which your car insurance can pay for based on the insurance policy you own. By not owning insurance, you run the risk of having to pay the total cost of any harm you cause others or of repairing or replacing your vehicle if it is damaged or stolen. Liability: This kind of insurance coverage will pay for the damage that you have caused. These damages can include bodily injury, and property damage. It can also cover your defense and court costs if you are sued. State laws usually require minimum amounts of liability insurance, but larger amounts can be purchased and are very beneficial. Personal Injury Protection: This is required in some states and is optional in others. It pays you or your passengers for medical treatment resulting from a crash, regardless of who may have been at fault, and is often called no-fault coverage. This insurance can also cover lost earnings, service replacement and funeral costs. The minimum amount of this insurance is usually set by local government. Medical Payments: This type of coverage is available in non-no-fault states and will pay regardless of who is responsible for an accident. It pays for an insured person's reasonable medical and funeral expenses for bodily injury from an accident. Collision: Pays for damages to your vehicle caused by a collision. Comprehensive: This kind of insurance takes care of all non-collision damages. This may include weather damage, vandalism, and robbery. Uninsured Motorist: Pays for repair and replacement costs when an insured person is injured in a crash caused by another person who does not have liability insurance or by a hit-and-run driver. Under-Insured Motorist: Pays for collision expenses when an insured person is injured in a crash caused by another person who does not have the right amount of insurance to cover the total amount of the damages. Other types of coverage, including car rental, are also available. Your auto insurance payments vary by company and will depend on several factors, such as: *Your selected coverage *Your vehicle's make and model * Your driving record * Your age, sex and marital status * The place where you live Don't wait around to buy auto insurance; you should never be on the road without it. Evaluate your needs, research your options, and with the help of your insurance agent, make the decision that fits you best. State Farm Clermont