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Types of Auto Insurance Available
Most people donít fully understand why they need to carry auto insurance. But it is to protect yourself, your family and your vehicle. It is for these same reasons that the law also requires you to have auto insurance coverage on all vehicles you own and operate. Each state has different auto insurance requirements, for instance the state of FL requires you to carry at least the minimum requirements which is property damage at ten thousand dollars and personal injury protection at ten thousand dollars. Make sure you know and understand what your state insurance requirements are.
There are several types of auto insurance policies to choose from that will depend on the coverage you want and the coverage you can afford. But where do you start? It can all be very confusing at first but we are going to help you understand auto insurance policy basics to make your decision easier.
First, do you have enough auto insurance coverage in case of an accident? By law you have the minim required coverage, however there is another insurance coverage that is important, bodily injury. Bodily injury coverage is not required in all states. Bodily injury would cover you in the event you are at fault in the accident and the person in the other vehicle has injuries exceeding their own personal injury coverage on their policy. If you do not carry this coverage the injured party involved has the right to sue and the state can place financial responsibility on your vehicle report, which you then have to carry for three years. The financial responsibility is called an SR22.
Uninsured motorist is another insurance coverage type you may want to have. Uninsured motoristís coverage covers you if the other party was at fault and you were injured in the accident exceeding your personal injury coverage on your policy and the driver that caused the accident doesnít have bodily injury coverage. This coverage can be used to cover the difference in your injuries exceeding your coverage.
Comprehensive and Collision are two more important types of insurance coverage you may want to consider. Comprehensive coverage covers your vehicle in the event of theft, vandalism, natural disasters and the like minus your auto insurance policy deductible. Collision coverage covers physical damage to your vehicle, if you should be at fault of an accident, minus your policy deductible. Your insurance company would pay the cash value of your vehicle. Most vehicles that are financed require you to carry comprehensive and collision coverage by the financing institution.
There are more options available to you, the list goes on but it all comes down to what you can afford and what you want. Keep in mind your life and your family are the most important and having the proper insurance coverage should be one of your main priorities. Use the internet to help you learn more about insurance requirements in your state. It is much easier to read and then ask questions and it allows you to pick a company you think will fit your needs with the least amount of hassle!
About the Author: Brooke, the owner of Get Car Insurance Now specializes in Auto Insurance and Car Insurance Quotes to help you save money and keep you, your car and your family safe on the road. Visit us today!