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Thursday, August 23, 2012

Auto Insurance


Did you know that auto insurance can provide coverage for property, medical expenses, and liability?


Auto insurance is typically divided into two basic coverage areas: liability and property damage. Auto liability insurance policies contain liability insurance for bodily injury, this coverage pays if you are injured by a hit-and-run driver or a driver who does not have auto insurance.

Property damage coverage may include both collision coverage and comprehensive coverage. In this case, insurers will “total” the car and pay you what the car was worth rather than fixing it. Property coverage pays if your vehicle is damaged or stolen.

Comprehensive coverage pays for damage to your auto from almost all other causes, including fire, vandalism, floods, theft, falling objects and collisions with animals. Types of coverage may include liability, medical payments, uninsured/underinsured motorist, and coverage for damage to your vehicle. 

A full coverage policy may include six types of coverage, or some combination thereof. It pays for damage to someone else’s property caused by your vehicle, whether you are driving it, or someone else is driving it with your permission. Many states have minimum requirement laws for this coverage, but you may want to consider increasing the amount of coverage in your policy to protect your assets in case of litigation.

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3 comments:

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  2. Many declares have lowest need regulations for this protection, but you may want to consider improving the amount of protection in your policy to secure your resources in case of lawsuits.

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