Accidents happen. Imagine a world without car insurance. Each time you take that car out for a spin, you are essentially risking everything. An accident is an inconvenience, and they are costly.
Auto insurance protects your finances from unforeseen astronomical expenses. They protect you and your assets from liability lawsuits. An auto policy that maintains liability coverages with high limits, collision, and comprehensive coverage and medical payments coverage for you and passengers can save you thousands after an accident. State required minimums may not cover the costs of a severe accident, so it is worth considering purchasing higher levels of coverage.
The information below is great to know:
Collision - Optional or additional coverage that reimburses you for damage to your car resulting from a collision with another vehicle or object. It will not, however, compensate you for mechanical failure or normal wear-and-tear on your vehicle but will from potholes.
Property Damage Liability - Coverage that reimburses other people for the damage that you or another driver operating your car causes to another person's vehicle or other property.
Saving time and inconvenience when accidents happen
An insurer's expertise helps with the unpleasant post-accident process, like working with another driver's insure, walking you through the claims process, and getting your claim settled quickly. And, if you get into an accident with an underinsured or uninsured driver, your insurance carrier can help you recover costs through the uninsured motorist coverage.
You never want to experience an accident without having some expert assistance to support you and help you along the way.
Good to know:
Uninsured Motorist Coverage — Reimburses you in accidents caused by an uninsured or underinsured motorist or in the case of a hit-and-run. Underinsured Motorist Coverage does the same. It covers costs when another driver lacks adequate coverage to pay the costs of a severe accident.
We all need Peace of mind
There is a fair share of drivers that have no business driving.
You can be a great driver. But, none of that matters in a matter of seconds in the case of millions of accidents each year. Seconds is all it takes to destroy your entire driving history. Maybe you are arguably the best driver on the planet, which means that all other drivers are worse drivers than you are.
There are many drivers out there, which is why it is essential to have a reliable car insurance policy that protects you from the red-light texter, the reckless driveway-leaver, the make-up-applying cute girl headed to a date, and the person that doesn't realize that mirrors have blind spots.
These drivers are unpredictable. Therefore, unavoidable accidents can happen at any time. Insurance protects you from that scenario.
Car insurance can supplement your health insurance
If you are injured in a car accident and have insufficient health insurance, car insurance can help. Insurance companies offer coverages that cover injuries you sustain as a driver or passenger. Even with health insurance, car insurance can help pay for things your medical coverage might not or cover your medical deductible. It includes care for accident-related injuries, dental work, funeral costs, or extended nursing care during your rehabilitation.
Bodily Injury Liability — It covers costs associated with injuries or death that you or another driver causes while driving your car.
Medical Payments or Personal Injury Protection - Reimbursement for medical expenses for injuries to you or your passengers. It will cover lost wages and other related costs.
It is the law
Breaking the law is no good. Please don't do it. Make sure your car has liability insurance. All states require drivers to maintain a minimum amount of car insurance in the form of liability coverage.
Not having car insurance will result in fines and the suspension of driving privileges. Some states may even impound your ride and suspend your license. A suspended license will throw a wrench into your daily commute.
Do you know about Gap Insurance?
When you lease or finance a vehicle, auto dealers or lenders will require you to purchase collision and comprehensive, which covers the estimated street value of the car. It does not cover the price you paid. New cars depreciate quickly. If your car is stolen or totaled, there could or most likely be a Gap between what is owed on the vehicle and the actual insurance coverage. To cover the Gap, you may want to purchase Gap insurance to cover the difference. But, you must add it to your insurance policy within a few days of buying the car. For leased vehicles, Gap insurance coverage can be rolled into your lease payments.
Other coverages explained:
Comprehensive — Provides coverage against theft and damage caused by an incident other than a collision, such as a flood, fire, hail, vandalism, falling rocks or trees, and other hazards. Let's say anything that happens to your car when it is not moving.
Glass Coverage — Windshield damage is widespread, and some auto policies include a non-deductible glass coverage plan, which also includes side windows, rear windows, and glass sunroofs. Or you can buy supplemental glass coverage.
You might want to know this.
Your auto policy will not provide coverage if you use your car for commercial purposes. If you deliver food or operate a delivery service, you are on your own. Basic auto insurance also does not provide coverage for these activities or to transport others through a ride-sharing service such as Lyft or Uber. A supplemental insurance policy at an additional cost that extends coverage for vehicle owners providing ride-sharing services will need to be purchased.
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