When you are shopping for an auto insurance policy, do you know what sort of coverage you need? In many states, you are required to carry at least a minimum amount of insurance on your vehicle. The minimum coverage may not be enough to protect you if there is an accident or an unforeseen event, such as theft or an act of vandalism. It’s important for consumers to understand the coverage their policy provides so they can make good choices as far as the amount and type of coverage they need.
Types Of Coverage Available
Your policy will include some, if not all, of the following types of insurance coverage:
Liability Coverage: This is the type of coverage that pays for the injuries and/or damage to property suffered by another person in an accident where you are at fault. The coverage for injuries includes the person’s pain and suffering, along with medical expenses and reimbursement for lost wages if they are unable to work. You will probably be required to carry a certain minimum amount of liability coverage under state law; however, you can always choose to buy additional coverage.
Comprehensive Coverage: If your vehicle is damaged due to an act of vandalism, fire, flood, rain, or hail, then your comprehensive coverage will provide the protection you need. This part of the policy also insures you if your car is stolen.
Collision Coverage: If you are involved in an accident or strike an object with your vehicle, your collision coverage pays to repair your vehicle.
Uninsured/Uninsured Motorist Coverage: This type of protection is important: if your vehicle is damaged by another driver who isn’t covered by insurance or who does not have enough insurance coverage to pay to for repairs, then your insurance company will cover the cost (up to the policy limit).
Other Types Of Coverage
Depending on where you live, you may also be required to carry Personal Injury Protection (PIP) insurance. As an insured driver, PIP covers you for the cost of medical expenses incurred as the result of an accident. You are covered whether you were at fault for the accident or not.
Learn more about auto insurance policy provisions today. The insurance quote tool sitting at the top of this page will help you get started. Go ahead and click on it right now.
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Finding an auto insurance company is not difficult, but finding the right auto insurance company can be challengling. Policy provisions vary from company to company, as do premium rates. When you are considering which auto insurance company to get coverage from, it pays to do some research to make sure that the company is a reputable one. You also want to ensure that your company has the assets to pay out a large claim, if that becomes necessary…
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