Auto insurance is an agreement between you and your insurance company where you arrange to pay a premium in an exchange for the peace of mind that your insurance agency will pay for vehicle related financial losses during the duration of the policy. You need auto insurance because you are liable by law to pay for losses you cause to others in the event of an automobile accident. Purchasing auto insurance is the surest way to guarantee you will be able to fulfill your end of the bargain. In some states it is required that you have minimum forms of insurance in order to drive. You also must have insurance in order to finance a car.
One of the first questions you will be asked when obtaining automobile insurance is how much of the covered loss or deductible do you want to be your responsibility? You may choose between $100, $250, $500, or $1,000. The higher your deductible the lower your premium however you must keep in mind that the deductible is the amount you must pay before your insurance will assist you. If you cannot afford to pay the first $1,000 of the covered loss you may want to consider how much you can afford and choose a lower deductible.
Your insurance coverage is broken down into each purpose you would need to be covered for. One of the most common coverages include liability which pays out when the insured driver is legally responsible for bodily injuries and property damage they cause to others. Bodily injury damages cover medical expenses, pain and suffering, lost wages and other special damages. Property damage includes damaged property and loss of use. Liability also pays legal defense expenses. Each state has a set minimum amount of coverage you must carry but you may opt for higher amounts.
Personal injury protection pays medical expenses for covered individuals despite who is at fault for the accident. It also covers rehab, lost wages, replacement of services and funeral expenses. Medical payment coverage pays medical and funeral expenses regardless of fault when the causes of these requirements are due to an automobile accident. Collision coverage pays for damage to an insured vehicle caused by collision with another vehicle or object. Your deductible will apply to collision coverage.
Comprehensive coverage pays for loss of or damage to an insured vehicle unless is damaged or lost as the result of a collision. Comprehensive would cover losses due to theft, fire, wind, hail, flood, vandalism or impact with an animal. Your deductible will apply to comprehensive coverage.
Uninsured motorist pays for loss or damage caused by another driver who does not have liability insurance. Underinsured motorist coverage pays when the insured driver is injured in an automobile accident caused by a driver who has an inadequate amount of liability insurance. Rental reimbursement pays rental vehicle costs when your vehicle is put out of commission as the result of an automobile accident. Daily monetary limits may apply. Emergency roadside assistance coverage pays towing expenses when your vehicle breaks down. Distance limits may apply.
Your policy will generally cover you, your spouse children and other family members who reside in your residence as well as anyone else who has permission to drive your covered automobile.
Timothy Gorman is a successful Webmaster and publisher of Best-Free-Insurance-Quotes.com. He provides more insurance information and offers free money saving home, life, health and auto insurance quotes that you can research in your pajamas on his website.
The Health Savings Account (HSA) is a tool to help... Read More
Global warming may have been lurking on our horizon for... Read More
The biggest single investment most people make in their lifetime... Read More
The changing healthcare and health insurance landscape in the United... Read More
There are times when you'll find yourself temporarily without health... Read More
Several national rating institutions rate insurance companies. Do coverages, rates,... Read More
It's very easy to find California truck insurance on the... Read More
Health insurance providers are going online to find new customers.... Read More
Here is a useful guide to Home Insurance. Home insurance... Read More
Health insurance is a kind of protection that provides payment... Read More
Cheap term life insurance is easier to get than most... Read More
Life insurance is something we often take out to protect... Read More
Business Owners Policies for the Self-EmployedWho needs a business owner's... Read More
Life insurance is a personal insurance plan designed to pay... Read More
If you rent an apartment or house, you might consider... Read More
Health insurance plans have changed dramatically over the past ten... Read More
They say everything is bigger and better in Texas, and... Read More
Risk ManagementAlternate Risk Transfer is a fancy way of saying... Read More
It is now possible to thoroughly research and buy health... Read More
Most people with health insurance, especially employer paid health insurance,... Read More
A "Life Settlement" is a lump sum settlement paid to... Read More
Getting your business up and running is exciting, challenging and... Read More
California high risk truck insuranceIf your are in need of... Read More
Many people purchase insurance thinking I want full coverage and... Read More
Do You Own A Life Insurance Policy That You No... Read More
The Health Savings Account (HSA) is a great tool that... Read More
My wife and I recently purchased a new home in... Read More
There is always a chance that there is a better... Read More
If you are looking for auto insurance in texas, you... Read More
Americans shopping for their own healthcare insurance can substantially cut... Read More
Why Private Medical Insurance Is Becoming So PopularRecent research indicates... Read More
Home Insurance is designed to provide you with financial protection... Read More
If you've been out of school for a couple of... Read More
When I was a lad, some 25 years ago, the... Read More
Insurance policies provide financial protection in a broad range of... Read More
Life insurance in the UK is becoming more and more... Read More
What is a deductible? A deductible is the amount you... Read More
Before the internet, you picked a neighborhood car insurance agent,... Read More
What is auto insurance? Auto insurance (or car insurance, motor... Read More
Why Private Medical Insurance Is Becoming So PopularRecent research indicates... Read More
If you've read any of the books or articles by... Read More
When deciding on the appropriate amount of homeowner's insurance coverage... Read More
Several key changes are necessary to get control of the... Read More
For once finances seem to be going in favour of... Read More
With a life insurance settlement, seniors now have the ability... Read More
My wife and I recently purchased a new home in... Read More
Are you looking to buy a life insurance policy? Well,... Read More
There are DOZENS of insurance claim possibilities which will increase... Read More
The biggest single investment most people make in their lifetime... Read More
The value of a personal injury claim has a direct... Read More
Claims management and administration software systems enable insurance claims adjusters,... Read More
Cheap insurance? Auto insurance, life insurance, health insurance, liability insurance... Read More
An automobile accident can be a terrifying event for anyone,... Read More
When obtaining renter's insurance it is important to put serious... Read More
A Bed and Breakfast, often referred to as a B&B,... Read More
There are many options available for life insurance, and for... Read More
Auto insurance rates can be quite expensive. If you are... Read More
Following a few simple tips and taking these measures will... Read More
As we go through life our needs change. A Young... Read More
The Health Savings Account (HSA) is becoming well-known as an... Read More
The topic of insurance is not sexy by any means.... Read More
Trying to save money wherever you can is important to... Read More
When you originally purchased your auto insurance policy, you purchased... Read More
Family health insurance plans typically need to offer more coverage... Read More
If you are in the market to purchase your own... Read More
Following on from the tube train and bus bomb attacks... Read More
Insurance |