How Much Car Insurance Coverage Does one Car Need
It is a requirement by the law that every vehicle on the road should have insurance. It is true that every state in America has a minimum that you should buy however there are some states that do not need one to have auto insurance. It is essential to note that auto insurance has a number of policies that cover you in their own unique way. To get the right amount for the policies, you can request for a personal auto quote from your insurance agent. Keep reading to learn more about different types of policies.
The first policy is liability insurance. It is also referred to as third party insurance and it will cover you when you hurt someone or damage their property. The money will be given to the third party to cover for hospital bills, any legal fees, and settlements. The other thing is that it is subdivided into two that is property damage liability and bodily damage liability. Remember that liability insurance does not cover for people inside your car.
The second one is personal injury protection. This will cover all the medical expenses incurred after an accident whether you were at fault or not. Apart from that, it also covers the medical bill of anyone who was in your car by the time of the accident. It is also referred to as no-fault insurance.
Apart from that, we have collision insurance. Collision insurance will protect your car from any damages from the accident regardless of who was at fault. You find that at times the at-fault insurance takes a long time to repair the damaged cars or replace them and if you have your own safety net then you will be bothered by them.
Besides, there is also uninsured or underinsured motorist coverage. Have you ever asked yourself what happens when you involved in an accident with a car that has no insurance policy. One good thing with this policy is that it will fully cover and compensate you when you get hit by an uninsured or underinsured driver. Which will cater for your medical bills, lost wages, and more depending on the insurance company. It is essential to note that with health insurance cover and collision, this policy is not mandatory.
Apart from that, we have comprehensive insurance. Remember that not all the damages to your car can be as a result of accident or collision. Have you witnessed people losing their cars to vandalism. The good news is that comprehensive insurance will protect your car against non-accident damages such as theft, vandalism or weather damage.