|
|
Understanding Your Auto InsuranceBy Tom McKnight
Reading auto insurance policies can be like trying to decipher advanced calculus. It's really not that difficult if you understand a few basic terms. Collision, Comprehensive, Bodily Injury Liability and Property Injury Liability are the main terms you need to fully understand.
You'll appreciate Collision Coverage in the event you need repairs or replacements if your vehicle collides with another vehicle or property. The higher the deductible you elect, the lower your premiums will cost you. If you're at fault for something, well of course it would still be an accident, as I doubt you'd plan to run into that guard rail, but how much would you be able to afford to pay out of pocket for repairs? $250? $500? $1,000? Just like medical insurance, you'd have to pay that deductible amount first and then the insurance company would pay for the remaining charges for the repair.
Another term to become intimately familiar with is Comprehensive Coverage. This is the coverage that pays for damage caused from falling objects, fire, certain natural disasters, theft and vandalism. Deductibles work the same way as with Collision; the more out of pocket costs to you, the less your insurance premium.
In addition to knowing how much Collision and Comprehensive coverage you have, you'll want to know about your liability coverage. Let's say you rear-end another driver. Or your foot slips off the brake onto the gas pedal and you plow down a mailbox. Your liability coverage will kick in and pay for the damages that you caused with your insured vehicle. You liability coverage will, or could, include bodily injury (people) and property damage.
You don't want to go without Bodily Injury Coverage. If you were at fault in an accident and others involved needed to go to the hospital and/or lost wages from missing work, those costs would come out of your pocket if you are not insured with Bodily Injury Coverage. It doesn't take a genius to know how quickly those amounts can add up. This type of coverage can also help you in the event the other party takes legal action against you. Many states require you to carry Bodily Injury Coverage.
The other part of liability includes Property Damage coverage. Can you imagine how much it might cost should you accidentally drive into the side of someone's home? You wouldn't want to be caught without property damage insurance should you need to pay for repairs to another vehicle, building or anything else you might hit. As with Bodily Injury coverage, Property Damage coverage also helps protect you in the event of a related lawsuit.
Every policy will have its limits and various degrees of coverage. It's important that you understand the basics of what you are paying for and why it is necessary. No one plans for an accident, be prepared!
|
Metro Denver has sixth-least expensive car insurance in the nation
The Denver metropolitan area has the sixth cheapest car insurance in the nation, according to a report released Thursday by insuranceQuotes.com.
Car Insurance Rates Finder for California Agencies Added to National Tool at Insurer Portal Online
Car insurance rates finder is now helping drivers to review California agencies for low prices at the Quotes Pros website at http://quotespros.com/auto-insurance.html . (PRWeb September 12, 2014) Read the full story at http://www.prweb.com/releases/car-insurance-rates/auto-insurance-quotes/prweb12166539.htm
Car Insurance Anaheim CA: Target Up Insurance is Expanding
ANAHEIM, Calif., Sept. 9, 2014 /PRNewswire-iReach/ -- Car Insurance Anaheim CA - Target Up Insurance Services, a leader in Southern California insurance for the best rates and premiums is pleased to announce they are expanding their services to include the Anaheim, Calif., area. Providing the best in car, home and life insurance, Target Up has a solid reputation of working with anyone to get the ...
Detroit Tops U.S. In Car Insurance Costs
Detroit isn't just the car capital of the U.S. ? it's also the king of car-insurance costs. According to insuranceQuotes.com, a subsidiary of finance-info provider Bankrate Insurance, the Motor City and its metropolitan area lay claim to the dubious distinction...
Car Insurance Santa Ana CA: Target Up Insurance Is Expanding
SANTA ANA, Calif., Sept. 10, 2014 /PRNewswire-iReach/ -- Car Insurance Santa Ana CA - After 30 plus years in the insurance business providing excellent coverage at reasonable prices to their customers, Target Up Insurance is pleased to announce their expansion into the Santa Ana area. There are plenty of national chains and insurance companies already in the Santa Ana region, but Target Up is ...
Car Insurance Yorba Linda CA: Target Up Insurance is Expanding
YORBA LINDA, Calif., Sept. 10, 2014 /PRNewswire-iReach/ -- Car Insurance Yorba Linda CA - Car insurance is not something many consider on a regular basis, and when it is time to start thinking, many just go with the first major company they find on the television or online. This is a shame, particularly because Target Up Insurance, a company with over 30 years of service in the Southern ...
On vacation? Turn your car into cash
Car-sharing companies can help you earn some extra dough while you're away, if you don't mind a stranger behind your wheel
Car Insurance Ontario CA: Target Up Insurance is Expanding
ONTARIO, Calif., Sept. 4, 2014 /PRNewswire-iReach/ -- Car Insurance Ontario CA - Car insurance is a necessity in California. While many may argue they do not need insurance because they are safe drivers, car insurance is not to protect them. Car insurance protects the consumer from other drivers. Those who live in Ontario, Calif., will be pleased to know that a 30 plus year veteran of the ...
General Car Insurance Quotes for California Drivers Added to National System Online
General car insurance quotes are now displayed to California motorists who use the Quotes Pros website online at http://quotespros.com/auto-insurance.html . (PRWeb September 08, 2014) Read the full story at http://www.prweb.com/releases/general-car-insurance/auto-insurance-finder/prweb12153103.htm
Shift Insurance Survey Reveals the Truth About Car Thefts in California
LAKEWOOD, Calif., Sept. 4, 2014 /PRNewswire/ -- A new survey conducted by Shift Insurance has revealed that while the rate of car thefts in California has fallen, most residents believe theft is on the ...
|
|
Best Sellers from
|
