Financial Security and Your Insurance Policy
The amount of cars on the road increases each and every year. As this number increases, the possibility of accidents also increases. If you get in a car accident, the auto insurance you own can make a big difference in how much you have to pay. But why do you need to own insurance and just how much should you purchase? Car accidents can result in a variety of different expenses, which can all be paid for based on the insurance policy you own. Every state and province mandates auto insurance by law. By not purchasing insurance, you risk having to pay the total price of any harm or injury you cause others or to repair or replace your vehicle if it is damaged or stolen. Liability: Personal injury and property damage that you are responsible for will be covered under this type of insurance. If you are in legal trouble, this type of insurance will pay for your legal fees. Recommended, more comprehensive levels of insurance are available that take care of more than the lower, state-mandated insurance. 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. It can also pay for lost wages, service replacement and funeral costs. Local law usually sets minimum amounts. Medical Payments: Medical payment coverage is available in non-no-fault states; it will pay regardless of who carries responsibility for an accident. This insurance will pay for all insured person's reasonable medical or funeral expenses for bodily injury from a crash. Collision: Damages that occur from a collision will be paid for under this kind of car insurance. Comprehensive: This kind of insurance covers any non-collision damages. This may include hail damage, vandalism, and burglary. Uninsured Motorist: If you are in an accident with an uninsured driver or a hit-and-run driver, this type of insurance will make sure you are covered. Under-Insured Motorist: There are other drivers who have liability insurance that might not be able to pay for all the expenses they are responsible for. Under-insured motorist coverage covers you from those drivers. Emergency road service, car rental, and other types of car insurance can also be purchased. What you pay for auto insurance varies by company and will depend on several factors, including: * What coverage you choose * The make and model of the vehicle you drive * Whether or not you have been in an accident * Your age, gender and marital status * Where you live Some people think they can get by without auto insurance, but it is truly something you don't want to live without. Review your needs, research your options, and with the help of your insurance agency, choose the option that fits you best. Car Insurance Groveland