There are several different types of coverage you can get with your car insurance. It is important to understand what these different parts of your insurance will cover.
In addition to New Hampshire and Virginia, liability insurance is required in all 50 states and covers your cost if you are held responsible for an accident and have to pay the victim's costs.
However, this is the absolute minimum insurance you can buy and it consists of both property damage liability and personal injury liability.
When you buy an insurance policy, it covers you for three different limitations according to the above coverage.
These limits are known as the liability limits, which are essentially the maximum liability of the insurer to cover you.
You can find them on the declaration page and they usually look like this (20/40/1
This optional coverage (often called companion insurance) goes beyond basic liability and is usually purchased with collision insurance.
This part of the insurance has its own deductible that can be increased or decreased based on what you can afford.
Types of things covered by comprehensive insurance are:
Having a comprehensive insurance policy will probably be required by any lender or lien right if you decide to rent or buy your car with a loan.
This level of coverage is often required if you rent or finance a vehicle. and pays if your car hits another car or object and you need to repair or replace your car.
Your collision coverage has its own deductible and limitations of liability. As with all insurance policies, the lower the deductible, the higher the premiums.
Collision insurance is optional in all states; however, your lender may require this coverage if you purchase a car with a loan.
If you are involved in a car accident and the wrong person has no insurance, an insurance with an uninsured motorist covers the costs of making you healthy. minimum amount of insurance may not be enough to cover everything.
But with coverage for uninsured or underinsured drivers, it would cover the excess of what you owe.
Personal injury protection
Personal injury (PIP) is also called insurance without fault or medical payment.
In the event of an accident, regardless of who is at fault, this part of the insurance will cover you and your passengers' medical bills.
This part of the coverage is only activated for items that are not covered by your health insurance.
While many states do personal injury protection voluntarily, you may not need it if you have good health insurance. However, you can leave yourself open to more risk.
When you make a claim, you must pay a deductible, which is the amount you must pay before the insurance company starts helping with payments. .
Deductibles vary, but the most common is $ 500. You can also get lower deductible insurance, but the trade-off is that your monthly premiums will rise.
Another option is a higher deductible policy. Even if you have to pay more in your pocket if it happens, your premium will be lower.
The premium is the amount you pay for a car insurance. The amount of the premium varies depending on the supplier and it takes into account the following:
Glass coverage and deductible
Coverage for your glass is probably the most underestimated coverage in my opinion. However, depending on the type of car you have, it can be well worth it.
Recently, our neighborhood was part of some kind of mass vandalism and the windows of one of our cars were completely destroyed.
Cost of replacing both windows $ 3,500 – Our deductible was only $ 50.00 you can imagine if we did not have glass cover on our cars.
It may be wise to add glass cover to your policy to protect yourself from these unexpected expenses and be sure to look for a policy with a separate deductible.