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Auto Insurance

Auto insurance is a contract between a vehicle owner and an insurance company in which the vehicle owner is protected against financial loss due to an accident or other event. The vehicle owner must pay a monthly premium to receive coverage, and the insurance policy defines the types of losses that are covered. Auto policies are typically renewed every six months to a year.

There are six different types of coverage:

• Property damage – This coverage pays for the damage or theft of your vehicle, as well as damages to another person’s property.
• Collision – This pays for damages resulting from your vehicle hitting another vehicle, or an object, like a tree.
• Comprehensive – This provides umbrella coverage for a variety of damages that collision doesn’t cover.
• Bodily injury liability – This pays the medical bills of other people who are injured in an accident caused by you. This also covers your legal responsibility for injuries and property damage.
• Medical – This pays the medical bills of you and your passengers. It also pays for any rehabilitation services, funeral expenses, and it may pay for lost wages.
• Uninsured or underinsured motorist – You receive reimbursement if the other driver doesn’t have insurance, or doesn’t carry enough insurance to cover your expenses.

Drivers are not required to carry all six types of coverage, but most states require drivers to have at least bodily injury liability coverage. In states that do not require bodily injury liability coverage, they require drivers to have enough assets to pay claims if they are the cause of an accident. Also, lenders may require drivers to have collision and comprehensive auto insurance coverage in order to get approved for a loan.

Considering all the accidents which occur every year on our roadways, having good auto insurance is a must. Speak with one of our auto insurance experts today to obtain a no-obligation quote that will give you peace of mind every day.






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