Financial Security and Your Insurance Policy

The number of cars and drivers on the road increases each year. As this number increases, the possibility of accidents also increases. If you get in a car accident, the car insurance you have can make a big difference in what happens next. How can you decide what insurance you require and how to buy it? Coverage requirements will differ by state/province, but typically include the following: Liability: It pays for expenses due to personal injury and damage to property that you have caused. Damages from bodily injury can include medical expenses, and lost wages. Property damage can refer to damaged property and loss of property use. It also covers your defense and court costs if you are sued. Recommended, more comprehensive levels of insurance can be purchased that take care of more than the stripped-down, state-mandated varieties. Personal Injury Protection: This type of insurance pays for hospital bills and other medical treatment for you and your passengers, regardless of who was responsible for the collision. It is mandated in some states and optional in others. This insurance can also pay for lost earnings, service replacement and funeral expenses. The minimum amount of this insurance is typically set by the state. Medical Payments: Medical payment coverage is available in non-no-fault states; it will pay despite who carries responsibility for a crash. All necessary medical or funeral expenses will be paid for under this insurance policy. Collision: This pays for damages to your vehicle caused by an accident. Comprehensive: Protect your vehicle from damages from other sources by purchasing this type of coverage. This includes protection from burglary, vandalism, and fire or flood damage. Uninsured Motorist: Thousands of drivers are breaking the law by driving a car without owning the proper amount of insurance. This type of coverage will cover you if you are in an accident with one of these drivers. Under-Insured Motorist: Many drivers have liability insurance that might not be able to pay for all the expenses they are supposed to take care of. Under-insured motorist coverage protects you in accidents involving those drivers. Emergency road service, car rental, and other varieties of coverage can also be purchased. What you pay for car insurance varies by company and will depend on multiple factors, including: *Your desired coverage *Your vehicle's make and model * Your driving record * Your age, sex and marital status * Where you live Many people think of car insurance as a necessary evil, but it can rescue your finances. Evaluate your needs, do your research , and with the guidance of your insurance agent, choose the option that best suits you. Car Insurance Groveland