Hello, my name is Cliff Bolton. Welcome to my site about vehicle insurance. I wanted to learn all I could about insurance before I started driving to go into the decision-making process with ease. Once I started exploring the insurance industry, however, I could not stop reading. I learned all I needed to know to obtain car insurance and much, much more. I created this site to share this knowledge with my readers. I hope to help others tackle this important decision without worry. Please feel free to drop by daily to learn new information about this important topic. Thank you for visiting my site.
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When you receive an auto insurance quote, the price of the policy will be based upon several factors, including your driving record, history of insurance claims, credit score, and the coverage options you have chosen to add to your policy. In order to ensure that the quote you received is for a policy that truly meets your insurance needs, you will need to have a working knowledge of exactly what protection each coverage option offers. Continue reading to discover more about each of the different coverage options you can choose to include in your policy.
Liability Property Damage and Personal Injury
Liability auto insurance is broken into the two subcategories of property damage and personal injury. Currently, every state in the United States requires drivers to carry both types of liability coverage. However, the amount of liability insurance required by law can vary from one state to the next. The purpose of this coverage option is to ensure that if you cause an accident with another driver, this other driver will be able to collect compensation for any resulting property damage and medical bills.
Collision
Collision coverage is designed to protect you from out-of-pocket expenses if you are involved in a single-car accident, or are the at-fault driver in an accident with another vehicle. This type of coverage will pay out up to the value of your vehicle at the time of an accident minus the amount of your deductible. In many cases, you will find that lenders require you to carry this type of insurance in addition to liability insurance if your vehicle is still currently being financed.
Comprehensive
Comprehensive coverage goes hand in hand with collision coverage in the fact that this coverage option is designed to protect you from out-of-pocket expenses. The difference is that while collision coverage provides financial protection in the event of an accident, comprehensive coverage provides financial protection in the event that your vehicle is damaged in virtually any type of incident other than an accident. For example, if your vehicle is damaged as the result of severe weather, it is your comprehensive coverage that will take care of having this damage repaired.
Uninsured Motorist
If the at-fault driver in your accident does not have insurance, your only legal recourse is to try and recover damages from this individual via a civil lawsuit. This process can be time-consuming, and may not result in you actually recovering any compensation. Uninsured motorist coverage provides an alternative solution by allowing you to file a claim for damages with your own auto insurance company in this situation.
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