Post : Car Insurance - Basics Info You Should Know !!
Title : Car Insurance - Basics Info You Should Know !!
Car Insurance - Basics Info You Should Know !!
Car Insurance
Car insurance is one of those things that nobody wants but which is unfortunately a necessity. Insurance adds significantly to the cost of driving and it is an expense that most of us could do without. Unfortunately accidents do happen and when they do you will be glad that you have the right car insurance. Understanding the basics of car insurance can help to make sure that you have the right kind of coverage.
The car insurance that everybody is familiar with is liability insurance. This is the coverage that you are required by law to have. This is to protect other people in the event that you cause an accident. Liability insurance will make sure that they get compensated for any injuries you cause or any damage you do to their property. The amount of liability insurance that you need is going to depend on your personal situation, the biggest factor being how much money you have. There is a minimum amount of coverage that you are required to have, the actual amount will depend on where you live, but if you have a high income or a lot of assets you are almost certainly going to want to have more. You can be certain that if you have assets or a high income you will be sued for more than the minimum insurance will cover. If this happens the money will come out of your own pocket if you don't have enough insurance.
The other major type of car insurance is comprehensive insurance, this will cover you for any damage that occurs to your car. That means you are covered in the event that you get into an accident or if your car is stolen or vandalized or if it is damaged by nature with something like hail. Generally whether or not you get this kind of coverage is up to you but if you took out a loan to buy your car the lender may require you to have comprehensive coverage. It is also possible to collision insurance which will only cover you for damage to your car in an accident, for the money you save you might as well get comprehensive coverage and be protected against any damage.
There are a couple of other types of insurance that can be added to your car insurance, the first is personal injury protection. This is to cover you should you be seriously injured in an accident to make sure that you can get the care you need. Depending on where you live this may or may not be required. The other thing you might want to consider is uninsured driver coverage. This will cover your expenses if somebody else causes an accident in which you get hurt and they don't have the liability insurance they are supposed. Unfortunately there are a lot of people who try to get away with driving without insurance so it is a good idea to have uninsured driver coverage.
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