AUTO INSURANCE
Driving is a privilege, but it comes with a price tag. There's the cost of the vehicle itself, maintenance, repairs, fuel and auto insurance. Many states require you to carry a basic, minimum level of auto insurance. It's a way of sharing the risks of driving. You pay premiums to an insurance company for coverage. In return, your coverage will protect you against most financial losses that might otherwise be staggering.
Why Do I Need Auto Insurance?
Auto insurance is more than a matter of insuring your vehicle for loss or repairs after an accident. It is a financial safety net that can help you offset the cost of:
- Bodily injuries to yourself or others
- Lost wages due to injury
- Benefits to survivors when an accident results in death
- Lawsuits brought against you as the result of an accident
- Repairs made to your car due to damage caused in an accident
Important decisions about your automobile insurance:
- How much coverage do you really need?
- How much liability insurance?
- Is there any way to save money on auto insurance?
First, you'll need to know just what kinds of coverages are available. Many states require a basic liability coverage, but you must decide how much additional insurance you need. You select a package of insurance from standard types of coverage - a package that will protect you, your family, your vehicle and your assets.
Your particular package could include:
- Bodily Injury Liability
- Property Damage Liability
- Collision Coverage
- Comprehensive Coverage
- Medical Payments Coverage
- Uninsured/Underinsured Motorist Protection