Do You Know What Your Auto Insurance Really Covers?
If your vehicle is stolen out of your driveway, will your auto insurance have you covered? What if a serious storm rolls through town and your vehicle ends up being crushed by a fallen tree? Perhaps you are simply riding down the street when a pebble jumps up and strikes your windshield, taking a chip out of the glass. Will repairing your auto glass be covered under your current auto insurance policy?
Unfortunately, if you are like many of the drivers on the road today, you may actually find that you are not covered for any of the situations described above. This is because far too many drivers choose to simply purchase the minimum amount of insurance coverage the law requires them to have. The problem with this is that auto insurance laws are not designed to protect you as a vehicle owner. Instead, these laws are designed to protect other drivers in the event you were to damage their vehicle or cause them bodily injury as the result of a car accident. Making sure that you are financially protected is your own personal responsibility and is not covered by the legal requirements that mandate you carry liability and bodily injury coverage. That is why it is so important for you to take the time to really assess your insurance needs before purchasing a policy.
Knowing What Kind Of Coverage You Need
There are many different types of auto insurance coverages that you can choose to purchase. However, the three main types of coverage that you can purchase in addition to your liability coverage are collision, comprehensive, and uninsured/underinsured motorist coverage.
Collision coverage is what covers damage to your vehicle if you damage it in an accident that is not covered by the other driver's liability insurance. Comprehensive coverage is what covers your vehicle if it is damaged in a variety of situations other than being involved in an accident. Finally, uninsured/underinsured motorist coverage is what covers you if you are in a collision with a driver who either doesn't have insurance or doesn't have enough insurance to cover all of the damages.
Determining which of these coverage options you truly need and what coverage limits to select can be a complex process. Working closely with an insurance agent to assess your personal insurance needs can help to make sure you end up with the perfect customized policy for your needs and your budget.
Knowing What Kind Of Coverage You Don't Need
Knowing what kind of coverage you don't need can be just as important as knowing what kind of coverage you do need. After all, you don't want to be stuck paying for any auto insurance coverage that isn't necessary for your personal needs. Take a moment to take stock of what vehicle-related coverage you may have through other products and services so that you can avoid purchasing any duplicate coverage. A good example of this is roadside assistance.
If your vehicle is still under warranty, there is a good chance that this warranty comes with roadside assistance. You may also have this type of coverage through a standalone policy or through one of your major credit cards. If you already have this coverage, there is no need to add it to your auto insurance policy as well.
Contact an auto insurance company near you to learn more.
