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2. After
bodily injury coverage, Property Coverage is probably
the next most important types of coverage in your car
insurance as property damage coverage helps you pay for
damages to another person's property.
3. Liability
insurance
is the foundation of any car insurance policy. If you are at
fault with an accident, your liability insurance will pay for
the bodily injury and property damage caused to others in the
accident.
4. Collision
coverage
helps pay for auto repair or replacement costs if your car
hits another vehicle or object. Unlike, bodily injury
protection or property damage coverage, it is not a type of
liability coverage that helps compensate losses caused by
others. It exists solely to help compensate you.
5. Auto
insurance with Comprehensive coverage is best to
protect you from loss of your auto. When it gets stolen and
the police cannot do much apart from filing complain. Car may
or may not get recovered. If recovered it may stripped down
for parts. Comprehensive coverage helps pay for damage to your
vehicle resulting from falling objects, fire, certain natural
disasters and vandalism.
6.
Personal Injury Protection coverage
is a set of coverage not available in all states. It is often
a required part of your car insurance policy. If you or
another individual is injured in an accident, PIP plans
generally help pay for medical costs, lost wages, and other
expenses. If you and your passengers are already covered by
existing health plans and disability insurance, you may find
this to be a waste.
7.
Uninsured motor coverage
pays for medical expenses, lost wages, and other general
damages when policyholders, authorized drivers, or passengers
are injured in an accident caused by a driver who has no auto
insurance. It may also pay for injuries in hit-and-run
accidents. Covered costs are subjected to the limits as per
policy purchased by you.
8.
Underinsured motorist
bodily injury coverage pays for similar expenses when the
accident is caused by a driver who has insufficient auto
insurance coverage.
9.
Rental reimbursement
coverage pays for a rental vehicle when the insured's vehicle
is out of commission as a result of a loss covered under
comprehensive or collision coverages.
10.
Coverage for towing
and
labor charges in case of a road breakdown is
also common.
11.
Gap
coverage
for your new car will pay the difference between the actual
cash value you receive for the car and the amount left on your
car loan if your vehicle is totaled in an accident.
Thus by
taking a little time to analyze your insurance needs you can
save money and assure yourself that you're getting maximum
value out of your car insurance dollar. Although saving money
on your car purchase is of the utmost importance but right
amount of auto insurance coverage is equally important. |
