02:57
zahid
Everybody knows that auto insurance is legally required before you operate a vehicle. What everybody doesn't know is all the different kinds of coverages that are available. Some of them are required and some are optional. Let's take a look at some of them.
Liability is the first kind and it involves both property damage and bodily injury. Property damage is very self explanatory as it is just what it sounds like it is. You are protected by having to pay for any property damage that you inflict in an accident. This includes other vehicles, homes, telephone poles, etc. Bodily injury will cover any medical costs or lawsuits from the result of an accident in which you are at fault. This is a good one to have as hospital bills can get very expensive.
Collision coverage will protect your car in the event of an accident. This coverage requires having a deductible in which you will pay first before your insurance covers the rest. This coverage is optional once your vehicle is paid off. A lot of people will keep it although with an older car it sometimes makes sense to drop it.
Comprehensive coverage will cover your vehicle when there is no accident involved. Things such as fire, water damage, or having a tree fall on your vehicle are all cases that comprehensive is involved. This too has a deductible.
These are the main types of auto insurance coverages that are available to you. There are many more optional ones to consider and you should always ask your insurance agent to explain all of them to you.
Liability is the first kind and it involves both property damage and bodily injury. Property damage is very self explanatory as it is just what it sounds like it is. You are protected by having to pay for any property damage that you inflict in an accident. This includes other vehicles, homes, telephone poles, etc. Bodily injury will cover any medical costs or lawsuits from the result of an accident in which you are at fault. This is a good one to have as hospital bills can get very expensive.
Collision coverage will protect your car in the event of an accident. This coverage requires having a deductible in which you will pay first before your insurance covers the rest. This coverage is optional once your vehicle is paid off. A lot of people will keep it although with an older car it sometimes makes sense to drop it.
Comprehensive coverage will cover your vehicle when there is no accident involved. Things such as fire, water damage, or having a tree fall on your vehicle are all cases that comprehensive is involved. This too has a deductible.
These are the main types of auto insurance coverages that are available to you. There are many more optional ones to consider and you should always ask your insurance agent to explain all of them to you.
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