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Month: February 2016

A Look At A Basic Auto Insurance Policy

A Look At A Basic Auto Insurance Policy

There are six types of auto insurance policies that you can purchase, all with its own individual price to protect you in a specific area. This post will discuss all of the types of coverage so that you can easily select an auto insurance policy that matches your needs.

A Look At A Basic Auto Insurance Policy

Bodily injury liability covers the injuries that you or any other policyholders cause to someone else while driving. It also protects you in the event that you are driving someone else’s car when you get in the accident, as long as you have permission to drive from the owner of the vehicle. Purchasing a policy with a high bodily injury liability amount will protect your personal assets in the event that you cause some costly damage. Gordon & Doner suggest that at a minimum you’ll want to have this coverage.

Personal Injury Protection protects you and the other passengers in your vehicle when you get in an accident. It can cover lost wages, medical expenses, and even funeral costs.
Property Damage Liability covers you in the event that you do damage to someone else’s property. It protects you when you do damage to other peoples structures include vehicles, fences, and buildings.
Collision coverage pays for damage to your vehicle so that it can be replaced or repaired. It doesn’t matter whether you are at fault or not for the accident, as you’ll be paid either way after the deductible is removed from the cost of repairing your car. When you aren’t at fault for an accident, the insurance company will try to take money from the other driver’s insurance company and if successful, the deductible will be reimbursed to you.
Comprehensive coverage takes care of the cost of replacing your vehicle if it is damaged in anything other than a collision. This includes damage done because of theft, natural disaster, vandalism, or contact with animals. Comprehensive coverage also takes care of your windshield replacements if the glass is cracked or shattered.
Uninsured Motorist Coverage protects you in the event that the damage done to your vehicle caused by another driver exceeds the value of the at fault driver’s insurance policy. In the event that you are victim of a hit-and-run, you’ll also be reimbursed for the replacement price or damage done to your vehicle.

Rental Car Insurance – What You Need to Know

Rental Car Insurance – What You Need to Know

Renting a car in the past used to be possible only at select transportation facilities such as train stations and airports. Now drivers can pick up a car from location usually just blocks away from their home with the introduction of peer-to-peer car services, where people can share vehicles with one another. All of these new options mean that it’s becoming important for people who frequently rent cars to have rental car insurance.

Rental Car Insurance

How do you know if your insurance protects you while you’re driving a rental car? You have to look closely at the insurance agreement; otherwise you can be taking a significant risk. Also check out the rental/sharing agreement, as it will probably outline the exact type of coverage you need in order to protect yourself while in an accident using a rental car. Make sure that you give a call to your insurance company to ask whether your policy includes rental car insurance, and consider getting additional services such as collision and comprehensive coverage to protect your assets if your rental vehicle is damaged in a car accident or even stolen.

Once you’ve completed that phone call, give your credit card company a call as well. Many credit cards offer you a level of insurance benefits that vary greatly by the type of card you have. Some credit card providers offer limited coverage, while others may already protect you in full when you are involved in a rental car accident. That’s not to say that you should not also have regular car insurance, as credit card benefits should be secondary to the coverage that you already own.

There are also different types of coverage that you can sign up for from traditional car rental companies, and even with car sharing rental insurance companies. Make sure that you read all of the terms for each type of coverage, especially if you’re going with peer-to-peer insurance, because this type of insurance is not standardized, so you want to know exactly what you’re protected from.

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