Sometimes it's what we do; sometimes it's what others do.
Furthermore, unless you live in Wisconsin or New Hampshire, it is a state law and required of you.
Actually it is to your benefit to obtain auto casualty insurance...so it is wise to know what the coverage is all about.
It is just not about acting in accordance with the law, but it also minimizes costly expenses when an accident does occur.
Auto Casualty Insurance - Five Types of Coverage
1. Liability Coverage - In addition to property this covers medical costs when you're at fault in an automobile accident.
2. Collision Coverage - Although this is optional, if the accident is your fault, this coverage will help pay for the repairs of your car. You pay a predetermined deductible, and your insurance company compensates for the rest.
Note: Your insurance company will pay you the car's cash value, if they deem the vehicle is totaled.
3. Comprehensive Coverage - This insurance is optional as well. It would be wise to consider obtaining it as it covers:
4. PIP (Personal Injury Protections) - Personal Injury Protection is optional in some states and a must in others. It covers medical and disability cost, as well as loss of incomes for your and your passengers...regardless of whose fault it is.5. Uninsured Motorist Protection - This protection covers property damage and bodily injury, if the car accident is someone else's fault and they are uninsured.
Seek advice from your local insurance agent as he/she will be knowledgeable in regards to your individual state laws. When talking to your agent, inquire about how to handle a claim, obtain estimates for repairs when damage occurs and time-limitations for filing a claim. Also find out the length of time for receiving payments of processed claims.
After you have digested all the relevant information and purchased the auto casualty insurance policy that is right for you, then you can relax in the knowledge you are prepared for any auto casualty situation that might arise.
Furthermore, unless you live in Wisconsin or New Hampshire, it is a state law and required of you.
Actually it is to your benefit to obtain auto casualty insurance...so it is wise to know what the coverage is all about.
It is just not about acting in accordance with the law, but it also minimizes costly expenses when an accident does occur.
Auto Casualty Insurance - Five Types of Coverage
1. Liability Coverage - In addition to property this covers medical costs when you're at fault in an automobile accident.
2. Collision Coverage - Although this is optional, if the accident is your fault, this coverage will help pay for the repairs of your car. You pay a predetermined deductible, and your insurance company compensates for the rest.
Note: Your insurance company will pay you the car's cash value, if they deem the vehicle is totaled.
3. Comprehensive Coverage - This insurance is optional as well. It would be wise to consider obtaining it as it covers:
- Theft
- Damage Windshields
- Vandalism
- Falling trees
- Fire
- Flood
- "Acts of God" (other unexpected perils.)
4. PIP (Personal Injury Protections) - Personal Injury Protection is optional in some states and a must in others. It covers medical and disability cost, as well as loss of incomes for your and your passengers...regardless of whose fault it is.5. Uninsured Motorist Protection - This protection covers property damage and bodily injury, if the car accident is someone else's fault and they are uninsured.
Seek advice from your local insurance agent as he/she will be knowledgeable in regards to your individual state laws. When talking to your agent, inquire about how to handle a claim, obtain estimates for repairs when damage occurs and time-limitations for filing a claim. Also find out the length of time for receiving payments of processed claims.
After you have digested all the relevant information and purchased the auto casualty insurance policy that is right for you, then you can relax in the knowledge you are prepared for any auto casualty situation that might arise.
0 comments:
Post a Comment