Car insurance is a tricky subject. There are so many things to assume. There are many types of coverage to look at that must be understood before making a policy hold. The following will justify the different types of auto insurance that are available and what would be the best policy to fit your needs.
Auto insurance is meant to prevent you from financial ruin in the event of an accident. It protects you if you and your property are injured and it will protect you if you injure someone else and their property. It is not a guarantee against a lawsuit. It is not a green light to drive recklessly.
Price-The price for your policy is based on a number of factors.
• Age, sex, marital status, location, type of vehicle and age of vehicle and amount of driving time all calculate into the cost of the plan.
• The number of coverage plans selected for the policy.
• The coverage amounts and deductibles chosen.
Bodily injury liability coverage- This coverage pays for injuries or death that result from an accident in which you are at fault.
• Often this coverage will be combined with Property damage liability coverage.
• When purchasing this coverage you will select a dollar amount of coverage. This is the maximum amount that will be paid for injuries.
• Anything that is not paid for by the insurance becomes the at fault party’s responsibility to take care of.
• Many states require this coverage.
• This is the basic minimum requirement. States will mandate the dollar amount of coverage you have to have.
Property damage liability coverage- This coverage pays for damages that result from an accident in which are at fault and have damaged another person’s property.
• Often this coverage will be combined with Bodily injury liability coverage.
• When purchasing this coverage you will select a dollar amount of coverage. This is the maximum amount that will be paid for damage.
• Anything that is not paid for by the insurance becomes the at fault party’s responsibility to take care of.
• Many states require this type of coverage.
• This is the basic minimum requirement. States will mandate the dollar amount of coverage you have to have.
Medical Payments, no-fault or personal injury coverage- This coverage pays for medical expenses of the driver and passengers in your vehicle in the event of an accident regardless of who is at fault.
• When purchasing this coverage you will select a dollar amount of coverage.
• It is sometimes combined with Uninsured Motorist Coverage.
• This coverage will pay for the injuries of your drivers and yourself.
• Any injury expense that is not covered by this insurance will become the party’s at fault responsibility.
Uninsured Motorist Coverage- This type of coverage pays for your injuries and some property in specific circumstances after being in an accident with an uninsured driver or involved in a hit-and-run driver.
• When purchasing this coverage you will assume a dollar amount of coverage.
• It is sometimes combined with Medical Payments, no-fault or personal injury coverage.
• This coverage will pay for the injuries of your drivers and yourself.
• Any injury expense that is not covered by this insurance will become the party’s at fault responsibility.
Underinsured Motorist Coverage- This type of coverage pays for your injuries and some property in specific circumstances after being in an accident in which the driver at fault’s insurance is insufficient to cover the cost of the damages.
Comprehensive coverage- This type of coverage pays for afflict to your car or property in the event of theft, vandalism, flood, fire, hail, and other types of things.
• For this type of coverage you select a deductible. This deductible is the amount that you will pay prior to the insurance paying for damages.
• This coverage is specific for acts of theft, vandalism and naturally caused damage to your car such as caused by wind, water, hail, etc.
• This coverage will add cost to your policy. However if your vehicle is stolen or vandalized or damaged from a weather related event it will really pay for itself.
Collision Coverage- This type of coverage pays for damage to your vehicle in the event of an accident or collision regardless of fault.
• You will choose a deductible. This is the amount of money you will pay prior to the insurance company paying.
• This insurance will pay whether the accident was against a pole or was a five car pileup.
• This insurance plan will add cost to your policy but it will guarantee that your car is repaired regardless of who is at fault.
PIP-Personal Injury Protection-This type of coverage pays for the insured driver’s medical expenses regardless of fault so long as the injuries are related to an auto accident.
• This insurance ensures that the injured party gets the medical attention needed and the bills are paid timely regardless of fault.
Rental Reimbursement- This type of coverage will pay for a rental car in the event that the insured’s car is damaged due to an accident. There is likely a daily allowance for a rental car.
• This is used when your vehicle is in the shop for repairs or if your vehicle is totaled. A rental will be given to you for a certain amount of days or up to a certain dollar amount. This will protect you from being stranded without a vehicle because of a collision.
Resources
http://www.geico.com/information/aboutinsurance/auto/
http://auto.progressive.com/progressive-car-insurance/auto-coverages.aspx
Filed under Aaa Auto Insurance by on Feb 17th, 2011. Comment. 
I recently received a mail from MetLife Insurance. It had information about why insurance companies racks up the impress of your insurance even though you’ve been with them for years. MetLife is sure that they can beat any competition with their benefits and prices. So I thought to myself, “Why not call? It’s worth the try.”
So I grabbed my cellphone and dialed the number given. I waited a couple of minutes until someone was able to assist me. She sounded very nice and seemed like she’s willing to help. I’ve had my share of bad experiences with insurance companies so this actually was a great start for me. So I started giving her all the information she needed to write a quote. After that she started discussing all the benefits MerLife offers.
New car replacement for a totaled vehicle. Their standard insurance policies automatically has this. It means that if you total a car within a year or the first 15,000 miles, whichever comes first, they will give you the full replacement cost with no depreciation. That means that they will not charge with the exhaust of the tires, bakes, batteries, transmission, etc. I work for an insurance company and this isn’t one of the benefits that we offer. So that is such a mammoth deal for me.
Free glass repairs. They will repair or waive your deductible of your windshield is chipped or cracked.
Guaranteed Repair Shops. Just like most insurance companies, they work with repair shops where they can guarantee the work done on the vehicle. Of course, it’s up to you if you want your car repaired at that shop.
There are other great benefits that she told me about but these three appealed to me more than the other ones.
After it was all said and done, she had their underwriter write up a quote for me. I waited about ten minutes on the phone, which wasn’t so bad. When she came back she told me that the it was $700+ for six months. That’s almost half of what what I’m paying for with my current insurance policy with Allstate! Of course, I immediately signed up for this.
I haven’t filed a claim since I signed up with them so I really don’t know anything about their claims department. But all in all, my experience with MetLife was great! The insurance is very cheap and everyone I have spoken with is very helpful.
Check them out and I’m sure that you won’t regret it.
Filed under Aaa Auto Insurance by on Jan 20th, 2011. Comment.
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Filed under Aaa Auto Insurance by on Nov 5th, 2010. Comment.
