Financial Security and Your Insurance Coverage

There are more drivers on the road each year. With so many vehicles on the road, accidents will happen. The difference between a small bother and major obstacle can be your car insurance. So how can you figure out what insurance you need and how much you should buy? Car accidents can result in a variety of different expenses, which can all be paid for based on the insurance policy you own. Without insurance, you run the risk of having to pay the total cost of any harm you cause others. Liability: It pays for expenses due to bodily injury and property damage to others that you are responsible for. Damages from bodily injury include medical expenses, lost wages, and pain and suffering. Property damage can refer to car repair costs and loss of property use. It also covers your legal fees if you are sued. Recommended, more comprehensive levels of liability insurance are available that cover more than the lower, state-mandated insurance. Personal Injury Protection: Personal injury insurance 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. The minimum amount of this insurance is typically set by local government. Medical Payments: This coverage is available in states that are not considered no-fault; it pays regardless of who carries responsibility for a crash. If you buy this type of coverage, you will receive payment for reasonable medical or funeral costs. Collision: Damages that occur from a car accident will be paid for under this kind of car insurance. Comprehensive: Cover your vehicle from damages from other sources by purchasing this type of coverage. This includes protection from robbery, vandalism, and weather damage. Uninsured Motorist: Pays for repair and replacement costs when someone with insurance is in a crash caused by another person who does not have liability insurance or by a hit-and-run driver. Under-Insured Motorist: Pays for damages when an insured person is in a crash caused by another person who does not have enough liability insurance to pay for the total amount of the damages. Emergency road service, car rental, and other types of coverage can also be purchased. Car Insurance Groveland