Car accidents do happen, even to the most qualified drivers. An auto insurance policy will help cater for repairs to your car and medical expenses if an accident occurs. Take it as your shield against economic calamity in case you are found at fault for injuries to others or property damage. Car insurance covers harm done to you, your vehicle, other people, and other people’s possessions, caused by your vehicle. The amount of coverage you will require will depend on the value of your vehicle, the number of assets you need to be protected, any other insurance policy that you have, and your state regulations.
Comprehensive physical damage coverage– caters for losses resulting from occurrences other than collision. Examples of such incidents include losses due to fire, animals, or flood. It also pays for repairs or replacement if your car is stolen.
Bodily Injury Liability– protects you if you cause harm or death to an individual while operating your vehicle. It also pays for legal fees in case the other party in the accident decides to file a lawsuit against you.
Collision coverage– pays for damages to your vehicle or replacement of its retail value, despite who is at fault.
Uninsured motorist coverage– caters for injuries resulting from hit and run drivers or uninsured drivers.
Property damage liability– this will cover you in case your vehicle destroys someone else’s property. This insurance will also pay for legal fees in case another party presses charges against you.
Other recommended coverages include glass breakage liability and rental reimbursement and towing insurance.
Most states require all drivers to show their financial responsibility by having car insurance. This means car insurance will help keep you away from the possible suspension of your license, impoundment of your car, hefty fines, and even jail time. On a personal level, car insurance will help cover for damages caused when things get messy on the road. Make sure you get enough coverage because you never know when you will need it the most. It is important to read and understand what your policy covers to be sure that you have the essential protection if damage occurs.
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