Auto Insurance 101By Chris Tolamalu
Auto insurance, as the term suggests, is insurance that you can purchase for your vehicle (cars, trucks, SUVs, motorcycles, etc.). It provides protection against losses incurred as a result of vehicle accidents. While the product seems simple, there are many different types of auto insurance policies available for purchase. Depending on the policy that you choose, your coverage levels and types will vary. Broadly speaking, these are the types of auto insurance programs on the market today:
Coverage:
• ‘Comprehensive coverage’ (Comp) – This kind of insurance insures your vehicle against the cost of purchasing a new vehicle if it is stolen or destroyed in a fire.
• ‘Collision coverage’ (Coll) – This kind of insurance insures your vehicle against the cost of repairing the vehicle following an accident or the cost of purchasing a new vehicle if it is damaged in an accident beyond economic repair.
Protection:
• Personal Injury Protection (PIP) - This insures against the cost of medical expenses and lost wages related to the use, ownership or maintenance of a motor vehicle. This insurance is mandatory in some U.S. states.
• Medical Payments (MP) - insures against the cost of medical expenses for bodily injury sustained in an accident beyond any expenses that may be covered by PIP.
• Legal liability claims against the driver or owner of the vehicle following the vehicle causing damage or injury to a third party.
While ‘Liability insurance’ covers only legal liability, ‘comprehensive insurance’ covers PIP, MP, as well as legal liability. In the United States, liability insurance covers claims against the policyholder and any other operator of the insured’s vehicle. If, however, any other operators live at the same address, they must specifically be covered on the policy. For rented vehicles, most rental car companies offer insurance to cover damage to the rental vehicle.
While comprehensive insurance covers most aspects of damage which can affect the car itself or the driver, there is one risk associated with buying a new car is not covered even by comprehensive insurance – once the car is bought, there is a sharp decline in its value. During this period (immediately after a car is bought), in which the remaining car payments exceed the value of the vehicle and thus the compensation the insurer will pay for a ‘totaled’ (destroyed, or written-off) vehicle, customers may consider purchasing ‘GAP insurance’. GAP insurance was established in the early 1980's to provide protection to consumers based on buying and market trends.
|
Georgia Man Protests Insurance Company
A man and his wife protest against a car insurance company.
Under Georgia Law, Not All Hot Car Deaths Are Treated Equally
Justin Ross Harris, the Georgia father who left his two year old son to die in a hot car, has been indicted for murder by a grand jury. Harris faces eight criminal counts: malice murder, cruelty to children in the first degree, cruelty to children in the second degree, criminal attempt to commit felony exploitation of children, two counts of felony murder, and two counts of dissemination of ...
Georgia dad charged with murder in toddler's hot car death
Justin Ross Harris indicted on eight counts related to the June death of his 22-month-old son
Dad in hot-car death case indicted on murder, child cruelty charges
Justin Ross Harris, a Georgia man accused of intentionally leaving his toddler in a hot car for seven hours in June and sexting with multiple women as the boy died, was indicted Thursday on eight charges, including murder and child cruelty.
Personal Injury Lawyer Jennifer Gore-Cuthbert, a Guest on Business Radio X's "Atlanta Legal Experts" Show
Jennifer Gore-Cuthbert with The Gore Law Firm, appeared on "Atlanta Legal Experts" to discuss car accidents, diminished value claims, and insurance coverages. (PRWeb September 03, 2014) Read the full story at http://www.prweb.com/releases/2014/09/prweb12135662.htm
Who Pays My Medical Bills After an Accident?
If getting into an automobile accident wasn?t bad enough, you suffered injuries and received medical attention, and now you find out that even though you didn?t cause the accident, you have to pay for your own medical bills. How fair is that? Not fair at all, but unfortunately, it?s usually a reality, at least until [?]
Car insurance rates on the rise in Georgia
Channel 2 Consumer Investigator Jim Strickland has discovered the insurance company that covers one out of every five cars in Georgia will hike rates for the second time in six months. "Well, that's a little worrisome," said State Farm customer Denise Warren. Her SUV is one of the 1.5 million Georgia automobiles covered by the insurance giant. Strickland showed Warren the rate information she ...
Georgia father who left 22-month-old in hot car indicted for murder
A grand jury indicted the Georgia father who allegedly left his son to die in a hot car on murder charges Thursday. read more
Diminished Value of Georgia Reviewed by the Atlanta & Company TV Program on NBC's 11Alive
Review of Diminished Value of Georgia, Atlanta's Leading Car Appraisal Company (PRWeb August 31, 2014) Read the full story at http://www.prweb.com/releases/Diminished-Value-Georgia/tv-review/prweb12134720.htm
Diminished Value of Georgia is Now Hiring Vehicle Valuation Experts and Auto Damage Appraisers in Atlanta
Due to expanding operations in Atlanta, Diminished Value of Georgia, the state's leading car appraisal company is now hiring vehicle valuation experts and auto damage appraisers. (PRWeb August 31, 2014) Read the full story at http://www.prweb.com/releases/Diminished-Value-Georgia/Hiring-Atlanta/prweb12134740.htm
|
