infact, most states requires it by law.
when u buy car insurance, u are buying what is called a policy . auto insurances policies are actualy a package of diferent types of insurance coverage. ur policy is based on a variety of facters including what kind of car u drive as well as what kind of insurance u want.
the first stap in understanding an auto insurances policies is to learn companies ofer.
some of this coverage may be requires by ur state and some of the coverage may be optional.
Liabillity - this coverage pays for accidental bodily injury and property damages to others.
state laws determined how much liability coverage u must purchase but u can always get more coverage than ur state required.
injury damages include medical expensive, pain and suffering and lost wages. property damage includes damaged property & automobiles. this coverage also pays defense and court costs.
medical coverage- pays medical expenses regardless of fault when the expenses are caused by an auto accident.
comprehensive- the types of damages comprehensive insurance covers include loss caused by fire,wind , hail, flood, vandalism or theft. this coverage pays for loss or damages to the insured vehicle that doesn't occur in an auto accident.
PIP- this coverage pays medical expenses for the insured driver, regardless of fault, for treatment due to an auto acident .
personal injury protection (PIP) is requires in some states.
rental reimbursement - this types of coverage will pay for a rental car if ur car is damaged due to an auto acident.often this coverage has a daily alowance for a rental car.
underinsured motorist- pays ur car's damages when an auto accident is caused by a driver who doesnot have liabilities insurances.
coliision- this coverage pays for damages to ur vehicle caused by colision with another vehicle or object.
it's good to keep in mind that, just because ur state may not require extensive insurance, extraa coverage may be worth the expenses. many insurances policies combine a number of these types of coverage.
after all, no one wants to be stuck with thousands of dollars worth of in chosing the insurances u want for ur car is to know the laws in ur state.
the this will tell u the minimum insurances u need for ur car.
1 comments:
Out of all the coverage option that you have discussed above which of them should be rated on the top as managing up all of them will result in an expensive auto insurance policy that will be hard to afford. Also what is the minimum level of coverage so that an individual can decide according to all these criteria.
corporate insurance
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