The Facts About Auto Insurance
You need auto insurance to protect yourself, your assets and the occupants of your car in the event of an accident. Car insurance protects you financially by providing payment for damage or injury caused by an auto accident in which you are involved. The injuries related to an auto accident can be devastating and the costs of medical care, repair or replacement of your vehicle, and other expenses can be very high indeed.
When you buy insurance for yourself, you are also protecting other drivers against any injuries that may occur in an accident where you are at-fault. You can buy auto insurance from a number of companies. Each company has its own underwriting standards and rates for each specific type of policy and limits on the amount they will pay for damages. We want to make sure you find the right fit at the right cost to ensure you’re covered with everything you need in the event that you need to submit an auto claim!
Types of Coverage
- Collision- provides protection against damages to your car in the event of a collision or other accidents, such as running into objects.
- Comprehensive- will protect your car from anything not caused by a collision (such as theft, fire, animal collisions or vandalism).
- Liability- pays for car and property damage caused by an accident where you are at fault. Liability is often required by law, so make sure to get the right amount of this type of insurance.
- Medical payment coverage - provides for any injuries for the driver or passengers that occur if an accident occurs while driving. Medical payment coverage varies from state to state, so be sure you have the protection you need.
As you can see, there are a lot of factors that need to be considered when shopping for vehicle insurance. There is no “one size fits all” when it comes time for buying or renewing your insurance policy. By shopping around you can make sure that your insurance will be competitive and affordable.
Collision coverage can include damage to your car from an accident that you cause with another vehicle, running into a stationary object (like a mailbox), and a rollover. It can also cover getting hit by a driver without enough insurance to cover all of the damage. For example, if a driver only has the minimum state-required coverage, it may not be enough to cover a totaled vehicle. In this instance, your collision insurance could help cover the extra costs. Collision coverage does not include any damage from weather, theft, falling objects, vandalism, or anything else that comprehensive coverage includes. This type of insurance is optional (but it will be required if you have a lease or loan on your vehicle).
Comprehensive coverage can help to repair or replace your car when it is damaged from weather, theft, vandalism, falling objects, damage from animals, fire, etc. This type of protection does not include any type of collision with other vehicles or objects. There is a deductible but you can choose the amount when you set up your policy. This type of insurance is optional (but it will be required if you have a lease or loan on your vehicle).
In most states, the minimum amount of auto liability coverage is set by state law and is required. There are two parts of liability coverage:
- Bodily injury liability - if you cause an accident, bodily injury liability helps pay for costs related to another person's injuries that you cause by an accident. This type of liability insurance covers the vehicle so the policyholder and family members listed under the policy or anyone driving the vehicle with permission are covered.
- Property damage liability - can help pay for damage you cause to another person's property, including their vehicle, home, business, or other personal property) while driving. This can include the costs of fixing the other person's vehicle, repairing damage to objects (like fences, mailboxes, buildings, etc.), court fees, and more.
Medical Payment Coverage
Medical payment coverage, also known as medical expense coverage or "med pay", is an optional part of an auto insurance policy that can help pay for medical bills for you or your injured passengers when someone is hurt in a car accident. It does not matter who was at fault. Med pay could help cover health insurance deductibles, visits to the doctor or hospital, x-rays, surgery, ambulance fees, or anything else related to medical treatment as a result of a car accident.
How to Find the Best Car Insurance Company
Now that you understand a bit more about the different types of auto insurance available, you are probably ready to find the right policy for you. The best way to do this is to work with an independent agency that will allow you to compare insurance quotes online. By doing this, you can be rest assured you are getting the best deal as well as getting the personal attention you need.
What you need is an independent agent who will look out for your best interest and provide exceptional customer service, while making sure that you save the most money, get all your available discounts, and of course, find the right car insurance for your needs.
Other Car Insurance Perks to Help You Save Money
- Roadside assistance- Some policies include assistance that is just a phone call away if you find yourself in immediate need of a tow or vehicle repairs.
- Good driver insurance discounts- You may be eligible for a policy discount if you’ve not had any claims within a certain period of time or if you have an exceptional driving record. Be sure to ask about these potential savings when you research to find the right coverage.
Purchasing auto insurance is a critical part of protecting yourself and your family. As you consider the different types of coverage, it can be helpful to work with an independent insurance agent in order to find the best plan for you. The right coverage will depend on many factors such as age, driving record, credit history, vehicle type and value - so don’t make this decision alone!