f you are in an auto accident – the last thing on your mind
should be money. It is important to know you are covered and what that
coverage includes.
While thinking about wrecking your car probably isn’t the most
pleasant thought, it is important to purchase auto insurance so you
will be compensated for your losses and have funds secured for those
unforeseen events.
The value of auto insurance cannot be stressed enough. If you are
an uninsured driver involved in an accident, you may face thousands –
possibly millions – of dollars in expenses, depending on the severity
of the situation.
So you’ve purchased auto insurance. That’s good. Even more
important, however, is knowing what that auto insurance covers if you
are involved in a wreck or find your automobile broken into.
There are several types of personal auto insurance coverage. While
you are not required to purchase all of the offered coverages, most
states require you buy a few of them. Let’s examine some of the
coverages you might find in your personal auto insurance policy:
The basics of auto insurance include liability, property, medical and under/uninsured motorist coverage.
Liability coverage pays for bodily injury or property damage
claims to those you are legally responsible for. This coverage takes
care of the damage you cause to someone else or his or her property.
Property coverage compensates for damage to or the theft of your
car. Two types of property coverage include collision and
comprehensive.
Medical coverage is responsible for the treatment of injuries to
the driver and passengers of the policyholder’s car. Coverage is
provided regardless of whether the individual is a passenger or struck
as a pedestrian.
Uninsured motorist coverage reimburses you if you are hit by an
uninsured driver. Underinsured motorist coverage provides compensation
if the party at fault does not have adequate coverage to pay for your
entire loss.
These are just a few of the coverages that might be found in your
personal auto insurance policy. Do you know what’s in your policy? If
not, it might be a good idea to take a look and understand the ways
you, your car and your loved ones may or may not be protected.
No comments:
Post a Comment