Introduction
Making sure you have the best in car insurance comes down expecting the worst but hoping for the best. Everybody hopes they will never need car insurance but when we do we better hope we have the proper coverage. Trying to save a few bucks a month instead of having peace of mind will come back to haunt you.
Here we will provide you with the most important factors to consider in car insurance.
The Categories
Responsibility: This category is exactly what it sounds like. Who’s responsible, or who’s at fault. If you are at fault this category will cover property damage, missed wages, pain and suffering of the victims, etc. Again, this category only comes into play if you are considered at fault in the particular collision or accident.
Comprehensive: This category covers any loss or damage done that was not the result of any collision or accident. This can include, but is not limited to, fire, flood, vandalism and theft.
Collision: One of the most important categories, this category pays for any damages that were either the result of a collision or accident from another vehicle or object.
Features
Uninsured Motorist: This category covers any damages made by an uninsured motorist who is considered to be at fault. Being without uninsured motorist coverage is very frustrating. Make sure you choose the proper coverage amount under this category. You will be surprised by how many drivers are on the road who aren’t insured though with it being mandatory in almost every state.
Underinsured Motorist: This category picks up where the other motorist insurance stops. It protects you from those motorists who are trying to save a couple bucks by getting the least amount of coverage as possible. Where their policy stops, your policy picks up and covers the remaining amount.
Personal Injury Protection (PIP): Being mandatory in most states, this category covers your medical expenses in accidents that were considered to be at fault in. Not having this and being in a serious accident will potentially cost you hundreds of thousands of dollars. Be sure not to skip out on having this coverage.
Rental Reimbursement: If you need a rental car, due to an accident, your insurance policy will reimburse your costs up to a certain amount per day. If you have the possibility of borrowing another vehicle in the mean time, no need to have this coverage.
Tips and Comments
Make sure you weigh all of your options when choosing the best plan in car insurance for yourself. Even though we are in a depressed economy and we look at ways we can save every dollar we can. Having the right coverage in car insurance is more important than saving that extra 5 or 10 dollars a month.
Also, another important factor to consider is medical costs. Medical costs are rising and depending on the factors of the accident, a minor fender bender can easily turn into a $150,000 claim. And, depending on the types of cars in a collision, these costs can easily turn into $75,000 if imported vehicles are involved. When choosing the best in car insurance make sure you have coverage in all of the categories but, most importantly, make sure you have the proper amount of coverage in those categories.
