Auto insurance is one of the things that you cannot ignore. Unless you do not own your own car you can bet that you will end up having to purchase some sort of auto insurance since the law requires at least liability. If you are leasing a car or buying one you will need to buy full-coverage and this could get tricky if you don’t know what you are looking for. So to help you out we decided to put together the ultimate guide for buying Auto Insurance (personal, not commercial).
When you think about auto insurance what is the first thing that comes to mind?
Although these are all things that you will get with your policy there are many more options you can choose to make sure you are completely covered if you happen to be in an accident or someone breaks into your car. In this guide, we will talk about your options and how each one might weigh on the price of your policy, the cost of deductible and much more.
A vehicle is made up of numerous components like mechanical and electrical things that over time wear and will eventually need repair. Things are not always in your power and you may end up in a situation where you find yourself needing some help. The most you can do as an individual is be prepared for when something like that might happen. When this happens you will want to have what is called “roadside assistance” and every insurance company will offer it to you. Just remember that this is an add-on service and might cost you more money per month.
Personal Injury or Person Liability
While we hope you will never need to use this one it is a good idea to load up your coverage in this area. You want to make sure that if you or your family needs to get medical attention due to an accident involving your vehicle this one will cover your medical bills. This coverage starts at $15,000 per person/$30,000 per occurrence and goes all the way up to $1MIL/$1MIL. The recommended amount is $100,000/$300,000. Just remember the higher the coverage the more your monthly cost will be.
An uninsured driver is way more common than you might think. Did you know that if someone is injured in an accident there is a one in seven chance that the at-fault driver is uninsured? This means that if you opt out of this coverage you may end up losing your car with no way to get reimbursed. This coverage starts at $15,000 per person and $30,000 per occurrence and goes all the way up to $500,000/$500,000. This one will depend on how valuable you think the vehicle is worth.
Property Damage Liability
Pays if you are responsible for damage to another person’s property. If your operation of a covered vehicle results in your being legally responsible for damage to someone else’s property – for example, a car or building – as the result of an accident when you are operating your auto (and certain non-owned vehicles) you may be required to pay for that damage. If the property damages are high, your assets – including your home, savings, and future wages – may be at risk. Property Damage Liability helps protect your assets by paying for the damage to the property. There are a number of common exclusions to this coverage that will be detailed in your policy.
This one pays for vehicle and glass damage due to, among other causes, theft, vandalism, explosion, and fire. You never know when something might happen so it’s safe to say that this one is a must-have for any auto policy. This one is going to be selectable by the deductible that you will pay when something happens. Deductibles can range from $0 all the way up to $2,500. The higher the deductible the less you will pay monthly.
This one pays for damages to your vehicle caused by a collision or when it overturns. Selecting a Collision deductible with a waiver requires you to include Uninsured and Underinsured Motorist coverage on your quote. The Collision Waiver deductible provides that the collision deductible will be paid by your insurance company in the event of a collision with an At-Fault uninsured vehicle.
This one pays toward expenses for a rental car while repairs are being completed as a result of a covered loss. This will especially play a huge help when your car is in the shop getting repairs and you need a car. Instead of having to pay for it out of your pocket your insurance company will pay for a rental. The duration and amount will depend on the plan you choose.
Auto Insurance at Insura
Insura Insurance Agency offers all of these options and our agents will help you pick the right policy that will fit your individual needs.
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