Auto Insurance

Auto Insurance Policies

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Important Auto Insurance Facts


Would you be able to cover expenses associated with an auto accident? If not, then you should have auto insurance. It can save you from paying huge out of pocket expenses and most states require it. Auto insurance protects drivers and vehicles from financial loss following an accident or theft. Personal injury, property damage and car repair or replacement is often covered by auto insurance. And as mentioned earlier, it is required by law in most states.

You benefit from a policy by knowing you have financial protection in the event of an accident. With car insurance, you won't have to come up with money to replace a car or have one repaired. If someone else hits you, then their liability insurance will help pay for your medical care, even if you have your health insurance.

The main type of car insurance is liability coverage. This is the least amount allowed by law. Liability insurance pays for personal injuries, deaths, and property damage caused by the policyholder. For example, if you accidentally back into a car when leaving a parking lot, liability insurance will pay to repair the car you hit.

The second type of auto insurance is collision coverage. This insurance repairs or replaces your car following an accident. When liability insurance is required by the state, collision is usually optional. However, some banks require customers to have collision insurance as a condition of getting a car loan.

Most states require drivers to carry auto insurance because it is beneficial. Insurance is an extra expense, but it is worth paying for should you ever need it. It is better to have insurance and not need it than to need it and not have it. When drivers are insured, they can spend time after an accident focusing on healing, and fixing their vehicle without worrying about financial problems.



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