Financial Security and Your Insurance Policy
You will see more and more cars on the road each year. This could lead to an increased likelihood of a collision. If you get in a car accident, the car insurance you own can make a big difference in the experience you have. But why is insurance necessary and just how much do you need? Your car insurance may be able to pay for car crash expenses ranging from car repairs to legal fees. By not purchasing insurance, you run the risk of having to pay the full price of any harm you cause others or of repairing or replacing your car if it is damaged or stolen. Liability: Liability pays for the expenses you are responsible for in a car collision, including property damage and injury. It also covers your legal fees if you are sued. State laws usually require standard amounts, but larger amounts are available and very beneficial. Personal Injury Protection: This type of insurance pays for the medical treatment for you or other people in your car, regardless of who was responsible for the accident. It is mandated in some states and optional in others. It can also cover lost earnings, replacement of services and funeral expenses. The minimum amount of this insurance is usually set by the state. Medical Payments: Medical payment coverage can be purchased in non-no-fault states; it pays regardless of who carries responsibility for an accident. If this policy has been bought, the insured person will receive coverage for reasonable medical or funeral expenses. Collision: This pays for damage to your car caused by a collision. Comprehensive: This type of insurance covers any damages not caused by a collision. This could include weather damage, vandalism, and theft. Uninsured Motorist: If you are hit by a driver without insurance or a hit-and-run driver, this type of insurance coverage will protect you. Under-Insured Motorist: Similar to uninsured motorist protection, this type of insurance protects you against drivers without sufficient insurance coverage. Other types of coverage, including car rental and emergency road service, are also available. Your car insurance payments vary by company and will depend on multiple factors, including: * Which policies you choose * The make and model of the car you own * Whether or not you have been in an accident * Your age, gender and marital status * The place where you live Don't wait around to buy car insurance; you shouldn't drive a car without it. Evaluate your needs, research your options, and with the help of your insurance agency, choose the option that fits you best. Car Insurance Groveland