May 2, 2013
by admin •
Home Insurance
There are more cars hitting the road each year. As this number goes up, the chances of a car accident will also go up.
The difference between a small aggravation and large obstacle can be the car insurance you have purchased. But why do you need to own insurance and just how much should you purchase? Car accidents can result in many different expenses, which your insurance can pay for based on the type of coverage you have purchased.
Car insurance is mandated by state law. Electing to drive without owning insurance could mean you have to repair or replace a stolen or damaged vehicle and pay the cost of all the damage for which you might be responsible. Liability: Pays for the expenses you are responsible for in a car accident, including injury and property damage. If you are in legal trouble, this type of insurance will pay for your defense and court costs.
Recommended, higher levels of liability insurance can be purchased that take care of more than the lower, state-mandated insurance. Personal Injury Protection: This 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 cover lost wages, service replacement and funeral costs. The minimum amount of personal injury protection is usually set by the state. Medical Payments: Medical payment coverage can be purchased in non-no-fault states; it pays despite who carries responsibility for an accident. It pays for all insured person’s necessary medical and funeral expenses for bodily injury from a crash. Collision: Pays for damages to your vehicle caused by a collision. Comprehensive: Cover your vehicle from damages from other sources when you buy this type of coverage. This can include protection from burglary, vandalism, and fire or flood 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 kind of insurance protects you against drivers without enough insurance coverage.
Other types of car insurance, such as emergency road service, can also be purchased. Your car insurance payments vary by company and will depend on multiple factors, including: *Your desired coverage *Your vehicle’s make and model * Whether or not you have been in an accident * Your age, gender and marital status * Where you live Many people consider car insurance to be a necessary evil, but it can rescue your finances. Evaluate your needs, research your options, and with the help of your insurance agency, make the decision that best suits you. Home Insurance Catoosa