Our goal is to show you some available options so you’ll find it easier to determine the most suitable policy for you.
Types Of Car Insurance
Three basic types of car insurance exist, and it’s important to understand the difference between each one.
Comprehensive Coverage
Most drivers have heard about comprehensive coverage because it’s the most common car insurance available. It will cover the cost of any damages to your vehicle that aren’t caused by other drivers. These include situations such as a collision with an animal, vandalism or theft. Natural occurrences such as fires, hail, storms or floods are also covered. Drivers aren’t required to pay a minimum. However, because claimants don’t have to show fault, the cost of this type of insurance is usually high.
Collision Coverage
This type of insurance will cover any damages that occur to your vehicle if you hit another vehicle or any object such as a telephone pole. Drivers can choose how much they wish to pay for collision coverage.
Liability Coverage
Almost every state in the US requires drivers to purchase a minimum amount of liability insurance. The specific amount varies according to the laws where you live so you should contact your insurance provider to inquire. This type of insurance will cover you against any losses you cause to another individual or their property.
Additional Insurance Options
You should talk to your insurance agent about additional options such as special car insurance meant specifically for collectible, vintage or classic cars. Some companies also offer emergency road service and car rental options, in addition to uninsured and underinsured motorist protection. The latter protects you against drivers who have insufficient or no insurance.
Deductible Options
A deductible refers to the specific amount you will have to pay before your insurance provider pays any claim filed against your insurance policy. For example, drivers who submit a claim of $3000 with a $1000 deductible must pay $1000. Their insurance company will then cover the remaining $2000.
You can choose the amount of your deductible, which is usually provided in $500 or $1000 increments. However, you need to be aware that the higher your deductible, the more you will have to pay if you’re involved in an accident.
