Having your own car and being able to get from one place to another is very useful although we are aware of the fact that driving can be dangerous even for people who practices safe driving. Accidents can happen anytime and anywhere and you never know when the accident will include you. Either if it is you fault or someone else’s fault, it is important that you have automobile insurance.
Car insurance covers more than just car accidents. Acts of nature like hailstorm, flash floods, or even a rolling boulder may cause damage to your car which will cost you a lot to fix. That is where car insurance comes in. Car insurance can make repair costs minimal as compared to what it would cost to fix a car without insurance.
A wide variety of insurance is available; you just have to choose what’s best for you. In choosing the ideal car insurance, always consider yourself, your vehicle, and budget. Below are the 7 types of car insurance along with scenarios where these insurances apply.
Liability Insurance
Liability insurance covers you in the event that you are in a car accident covered by your insurance’s policies even if you happen to be the cause of accident. Liability insurance will cover the cost of medicalization from resulting injuries and the costs of repairing all the properties damaged by the accident. This type of car insurance is what the state usually requires for car owners.
Collision Coverage
Collision coverage will only pay for the repairs of your car if and only if the accident is covered by the policies of your car insurance. Collision coverage will look for someone which is usually your insurer to pay for your car repairs unlike in liability coverage wherein you pay for your own repairs. This type of car insurance is not ideal if your car is old.
Comprehensive Insurance
Liability insurance and collision insurance only covers car accidents. Comprehensive insurance covers car accidents and unrelated events like weather damage, vandalism, car theft, and even damage caused by hitting animals. Comprehensive insurance is full coverage insurance that is great to have especially if it fits your budget. Installing anti-theft devices and tracking devices on your automobile will make this insurance more affordable. This insurance is great for people who own luxurious cars and lienholders.
Medical/Personal Injury Protection
This type of insurance is a must have but if you have a good health insurance plan then it’s not likely that medical and personal injury protection will be useful to you. This insurance will cover the medical bills of all the involved in a vehicular accident caused by you.
Uninsured Motorist Protection
This type of insurance helps you cover expenses when the person who is legally responsible for the accident does not have insurance. If that is the case you won’t receive any payment or will receive less than what is due.
No-fault Insurance
This insurance is not available in all areas. It covers injuries and property damage no matter who is responsible for the accident. This insurance is not best for people who own old cars because it is much expensive.
Gap Insurance
This insurance is for people who are on a budget and still making other car payments.
Before you choose insurance, it will be worth it if you check for their prices in your area before you make a final decision. Also, make sure that you are comfortable with the policy of the insurance that you will select.
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