Auto
Auto insurance can be a very complicated and confusing matter. There are often many questions about what the different insurance coverage options available and needed to make sure you are properly covered. Many people have an insurance policy but do not fully understand how they are covered or what they will do if they find themselves in the position of needing to utilize their insurance. Here are a few of the basic types of auto insurance coverage options available and how they apply to your policy.
- Collision Coverage – This is the basic insurance type that covers your vehicle if you collide into something. This covers collisions with other cars as well as if you were to run into a wall, barrier or bridge.
- Comprehensive Coverage – This covers anything that may happen to your car that is not directly related to a collision. This would include things such as theft, fire, hitting a deer or vandalism.
- Liability Coverage – This type of coverage covers the damages when you are at fault in an accident and you damage someone else’s car or property. Liability coverage is often mandated by law, so it is important that you as the driver make certain you have an adequate amount.
- Medical Payments – This is also called PIP in some states. Medical payments pay for any injuries to the driver or passengers that occur if an accident occurred while you were driving. Medical payment insurance varies from state to state, so make certain you are covered as expected.
There are several other options available depending on your auto insurance carrier and what helps give you peace of mind. Many lenders also require certain and specific insurance coverage on a vehicle. In order to avoid your lender from charging you for force-placed insurance make sure to let your agent know that you have a loan on your vehicle.
Now that you understand a bit more about the different types of auto insurance available, you are probably ready to find the right coverage for you. Contact us today so that we may help you with your coverage analysis!