When I got my kids a dog, I had no idea that it could affect my homeowners insurance. I happened to run into my insurance agent in the store when I was buying dog food and he asked me what kind of dog we had. When I told him, he said I should stop in the office the next day. I had no idea that things like this could affect premiums, so I started asking what else could do it as well. I created this site to help others understand some of the finer points of homeowners insurance and what they should think about to manage their rates.
When requesting an auto insurance quote, you will be presented with a wide variety of coverage options. Deciding to accept or decline each of these different options will not only impact the cost of your policy but will also have a significant impact on how much protection you have in the event of an accident. Consequently, it is important for you to understand exactly what type of coverage each of these options offers so that you can choose the coverage options that are right for you.
Liability And Bodily Injury Coverage
Liability car insurance is designed to cover the cost of any property damage that you cause while operating your vehicle. This coverage option is typically bundled with bodily injury coverage which will cover the cost of any injuries that you cause while operating your vehicle. This coverage does not cover damage done to your own vehicle or any injuries that you or your passengers suffer.
The need to carry liability and bodily injury coverage is mandated by law. However, you do have the option of choosing exactly how much coverage you wish to purchase as long as your policy meets the minimum requirements mandated by state law. Oftentimes you will find that you are able to increase your coverage limits without having a major impact on your monthly payments. This is important since higher coverage limits will help to protect you from any out-of-pocket expenses that may result from having inadequate coverage.
Comprehensive And Collision Coverage
Comprehensive and collision car insurance picks up where liability protection leaves off by offering coverage for your vehicle, yourself, and your passengers. In the event you cause an accident, collision coverage will offer financial protection up to the value of your vehicle. Comprehensive coverage also offers financial protection against damages caused by perils such as severe weather, vandalism, and theft.
If your vehicle is currently being financed or leased, you will likely be required to carry comprehensive and collision coverage as a condition of your contract. If you own your vehicle outright, this type of coverage is optional. The current value of your vehicle and your ability to repair or replace it without the help of insurance coverage will play a major role in whether or not you can benefit from purchasing this type of coverage.
Uninsured And Underinsured Motorist Coverage
Unfortunately, there are a lot of drivers on the road who either do not have any car insurance or who may have an inadequate amount of insurance to cover the value of your vehicle. If you are involved in an accident with one of these drivers, you could find yourself paying for damages or medical bills out of your own pocket. Uninsured and underinsured motorist coverage protects you from these out-of-pocket expenses by allowing you to file a claim with your own insurance company even if the other driver was at fault for causing your accident.
For more information on car insurance, contact a professional near you.
Share24 February 2022
