Insurance and What It Means To You
condo insurance Alexandria VA Each year, more cars and drivers hit the highways. With so many vehicles on the road, accidents can happen. If you get in a car wreck, the auto insurance you have can make a big difference in how much you have to pay. So how can you find out what type of car insurance you need and how much to purchase? Required coverage varies by state/province but usually includes the following: Liability: This type of insurance coverage can pay for the damage that you have caused. These damages might include bodily injury, and property damage. Bodily injury damages include medical expenses, lost wages, and pain and suffering. Property damage includes damaged property and loss of use of property. If you are in legal trouble, it also pays your court costs. State laws usually mandate minimum amounts of liability insurance, but higher amounts are available and extremely helpful. Personal Injury Protection: This type of insurance pays for hospital bills and other medical treatment for you or other people in your car, regardless of who was responsible for the crash. It is sometimes referred to as no-fault coverage. It can also cover lost wages, service replacement and funeral expenses. The minimum amount of personal injury protection is usually set by the state. Medical Payments: Medical payment coverage can be purchased in non-no-fault states and will pay regardless of who is responsible for an accident. If this policy is bought, the insured person will receive coverage for necessary medical or funeral expenses. Collision: Pays for damages to your vehicle caused by a collision. Comprehensive: Protect your vehicle from damages from other sources by purchasing this type of insurance. This includes protection from robbery, vandalism, and fire or flood damage. Uninsured Motorist: Thousands of drivers are ignoring the law by driving without having the right amount of auto insurance. This type of coverage will protect you if you are in an accident with one of these drivers. Under-Insured Motorist: Just like uninsured coverage, this type of insurance covers you from people driving without sufficient insurance coverage. Emergency road service, car rental, and other varieties of car insurance can also be purchased. Your auto insurance payments vary by company and will depend on multiple factors, such as: *Your selected coverage *Your vehicle’s make and model * Whether or not you have been in an accident * Your age, gender and marital status * The place where you live Many people consider auto insurance to be a necessary evil, but it can rescue your finances. Review your needs, research your options, and with the help of your insurance agent, choose the option that best suits you.