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!
Nevada lawmakers consider $1.3 billion in tax breaks for electric car maker
Nevada lawmakers on Thursday moved forward a package of bills to provide $1.3 billion in tax breaks and other incentives to Tesla Motors , taking crucial steps toward clinching a deal for the electric car company to build a massive factory in the state. The biggest chunk of the deal, approved by the state senate and set to go to the assembly later in the evening, won support in day two of a ...
Two Losers In Tesla's Big Gigafactory Deal With Nevada
Tesla Motors' breathtaking incentive package with the state of Nevada has been approved with breathtaking speed. Late Thursday night, Nevada Gov. Brian Sandoval signed four bills providing $1.25 billion in incentives for the electric car manufacturer's gigafactory, which will be located outside Reno.
Nevada Governor signs $1.3 billion tax break package for electric car maker Tesla
Nevada Governor Brian Sandoval signed a package of bills on Thursday to provide $1.3 billion in tax breaks and other incentives for Tesla Motors, putting a bow on the deal for the electric car company to build a massive factory in the state. "Nevada has announced to the world - not to the country, but to the world - that we are ready to lead," Sandoval said, to applause. Tesla, founded by ...
Nevada Gives $1.3 Billion Tax Break to Electric Car Maker Tesla
Nevada Governor Brian Sandoval signed a package of bills on Thursday to provide $1.3 billion in tax breaks and other incentives for Tesla Motors, putting a bow on the deal for the electric car... -- Read more on ScientificAmerican.com
Technology Helps To Keep Rate Of Car Thefts Down
David Greene talks with Roger Morris, vice president of the National Insurance Crime Bureau, about the reasons for the dramatic decline in car thefts over the past 20 years.
Tesla Q&A: Tesla's Nevada 'gigafactory' FAQs
SPARKS, Nev. (AP) ? Now that Gov. Brian Sandoval has signed into law a package of incentives for Tesla Motors worth up to $1.3 billion, the electric-car maker is moving ahead with plans to build a $5 billion lithium battery factory expected to open in 2017 and employ 6,500 workers to make cheaper batteries so it can afford to mass market a new line of more affordable vehicles.
It Pays to Be Gray: Senior Driver Discounts
Everyone wants to reduce their auto insurance premiums, right? Well, in 34 states and the District of Columbia getting older can be the ticket to cheaper car insurance. All you have to do is pass an approved driving class that...
Critics in minority as Nevada lawmakers begin mulling $1.3B in tax breaks for Tesla
CARSON CITY, Nev. - Critics say Nevada lawmakers are gambling with taxpayers' money, but they clearly were in the minority Wednesday night as legislators moved forward with an unprecedented package of ...
Nevada Lawmakers Unanimously Approve $1.3 Billion In Tax Breaks For Tesla ?Gigafactory?
An unprecedented package of economic incentives to bring Tesla Motors' $5 billion lithium battery factory to Nevada won unanimous approval from the state Legislature late Thursday and Gov. Brian Sandoval was preparing to quickly sign it into law.
Tesla Q&A: Tesla's Nevada battery 'gigafactory': who, what, when, where, why?
SPARKS, Nev. - Now that Gov. Brian Sandoval has signed into law a package of incentives for Tesla Motors worth up to $1.3 billion, the electric-car maker is moving ahead with plans to build a $5 billion lithium battery factory expected to open in 2017 and employ 6,500 workers to make cheaper