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Auto Insurance

Car Insurance Coverages


Auto insurance is simply a contract between you, the insurer, and the insurer who will cover you against financial loss due to an accident or even theft. In return for your paying a certain premium, the insurer agrees to cover your losses as outlined in your coverage. If you are unfortunate enough to get into an accident, your insurer will take away your car and any medical expenses you may be facing as well. You will then have the responsibility of getting replacement vehicle and medical care at a reasonable price.

If you don’t have auto insurance, you would be wise to invest the money you would normally pay towards this monthly premium in some sort of high deductible savings account and invest that money now. This will protect you in case of an accident. If you are in an accident that someone else caused, the costs can be astronomical and you will be left with no choice but to hand over the cash. The money saved can then be used towards other bills or towards paying off the auto policy. By paying more now for an adequate amount of coverage, you will have peace of mind and a much lower premium in the future.

Bodily Injury:

Bodily injury coverage is designed to protect you in case you are in an accident that isn’t your fault. With bodily injury insurance, you will be covered for all medical bills for other people involved in the accident and for your own medical bills. These include all dental work, prescriptions and eyeglasses. With bodily injury, you will be protected in the case you are found to be the cause of someone else’s injury in an accident.

Collision And Comprehensive Coverage:

Comprehensive coverage is designed to protect you in the event you need to repair or replace your vehicle because it was damaged in a collision. With comprehensive insurance coverage, your insurance company will pay up to $3 million for damages to the car and any medical bills incurred as a result of the collision. However, there is usually a limit on the amount that your insurance company will pay. Your premium will therefore be determined by the amount of coverage you want from your auto insurance policy.

Liability Coverages:

The most common type of vehicle coverage is liability coverages. This will pay for damage to others’ property caused by your auto. There are also several different types of liability coverages, such as bodily injury liability, property damage liability, medical payments, and legal expenses. All of these different types of liability coverages can help to protect you and others in the event you get into an accident.

When you are working with a car insurance coverage agent, you can ask about the different types of coverage available and get an idea of what your insurance policy would cover. You can also request quotes from several different companies online and get multiple quotes to compare the price and benefits of the different policies. When it comes to insurance, it pays to shop around. The more you compare, the more likely you will end up with a low-cost auto insurance plan that meets your needs and provides the coverage you need.