Financial Security and Your Home Insurance Policy

You will see more and more cars on the road every year. This can lead to a higher possibility of a collision. Car insurance can make the difference between a minor setback and a large trial. How can you decide what insurance you require and how to buy it? Insurance requirements will differ by state/province, but usually include the following: Liability: This type of insurance will pay for the damage that you are responsible for. These damages can include bodily injury, and property damage. Bodily injury damages include medical expenses, and lost wages. Property damage can refer to damaged property or loss of use of property. If you are sued, this type of insurance will pay for your court costs. Local laws usually mandate standard amounts, but larger amounts are available and usually recommended. Personal Injury Protection: Personal injury insurance is mandated 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 may also pay for lost wages, replacement of services and funeral costs. The minimum amount of this insurance is usually set by local government. Medical Payments: Medical payment coverage can be purchased in states that are not considered no-fault and will pay no matter who is responsible for the accident. If you buy this type of coverage, you will receive coverage for all types of medical or funeral costs. Collision: This pays for damage to your vehicle caused by a collision. Comprehensive: Cover your vehicle from all non-collision damages when you buy this type of insurance. This includes protection from burglary, vandalism, and weather damage. Uninsured Motorist: If you are hit by an uninsured driver or a hit-and-run driver, this type of insurance will make sure you are covered. Under-Insured Motorist: Just like uninsured coverage, this type of insurance protects you against people driving without enough insurance protection. Emergency road service, car rental, and other types of coverage can also be purchased. What you pay for auto insurance varies based on the company and will depend on multiple factors, including: *Your selected coverage *Your vehicle's make and model * Whether or not you have been in an accident * Your age, sex and marital status * The place where you live Many people consider auto insurance to be a necessary evil, but it can rescue your finances. Review your needs, research your options, and with the guidance of your insurance agent, choose the option that fits you best. Car Insurance Groveland