Auto Insurance Definitions To Help You Get The Best Auto Insurance
Coverage For Your Money
If you're shopping for auto insurance, it can get confusing. The
first step is to find out the minimum insurance level you must hold
under your state laws. Unfortunately every state is different! Still,
so that you can understand what the different requirements and options
are all about, here's a list of definitions that are often used
in auto insurance information.
Bodily Injury
We all know that medical expenses in the US can be very high. If
you cause an accident and the other driver is hurt, then bodily
injury insurance will keep you protected. It covers the other driver's
medical expenses, which means there's no need for the other drive
to sue you for medical damages. This type of coverage is very important,
because medical expenses can easily damage your finances beyond
repair.
Property Damage
If you're at fault in an accident, and the other driver's car needs
repairs, then this insurance will cover those costs. Without this
coverage, you would have to find the money to pay for the repairs
out of your own pocket. That mightn't sound too bad, but what if
the car you collide with is an expensive sports car? All of a sudden
you could find yourself having to fork out huge sums of money for
repairs.
Personal Injury
This type of coverage is designed to protect you in any car accident.
It pays some or all of your medical expenses, and also covers your
lost wages while you're unable to work. There are also death benefits
available under some coverage, which can be paid to your relatives.
It covers your medical expenses even if you're found to be at fault.
Uninsured Motorist
Much as we'd like to think that every other driver on the road
is carrying the minimum level of insurance, the reality is that
there's plenty of uninsured drivers out there. This coverage protects
you in an accident that isn't your fault, and where the other drive
doesn't have insurance. It will help you to cover costs of repair
or replacement of your vehicle, and also your medical costs (apart
from the costs covered by your personal injury insurance).
Comprehensive
This can be expensive, but you certainly get peace of mind. It
covers all accident related costs, no matter who is found to be
at fault. It can also be useful in a situation where another driver
is at fault, because generally your insurance company will handle
all the details of the claim on your behalf. So you won't be left
waiting months or even years while you're trying to get costs from
the other driver or his insurance company. It often includes cover
against vandalism, fire, weather related incidents and theft.
Collision
This covers damage to your car if you're found to be at fault in
an accident. If the car is completely destroyed, then you're paid
cash value for the car. If you hold finance against your vehicle,
you will probably find that you need to hold collision damage as
well as coverage for any damage caused by your vehicle.
Now that you understand the different types of auto insurance that
are available, you will find it easier to find the right coverage
for your needs.
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