Financial Security and Your Insurance Policy

There are more cars and drivers on the road each year. This could lead to a higher possibility of a collision. If you get in a car wreck, the car insurance you own can make a large difference in how much you have to pay. So how do you know what insurance you need and how much to buy? Car accidents can lead to a variety of different expenses, which can all be paid for based on the insurance policy you have purchased. Without insurance, you risk having to pay the total price of any harm or injury you cause others. Liability: Pays for the expenses you are responsible for in a car accident, including property damage and injury. It also covers your defense and court costs if you are sued. Recommended, more comprehensive levels of liability insurance are available that take care of more than the stripped-down, state-mandated varieties. Personal Injury Protection: This is mandated in some states and is optional in others. It pays you or your passengers for medical treatment resulting from a crash, regardless of who may have been at fault, and is often called no-fault coverage. It may also cover lost wages, replacement of services and funeral costs. Local government typically sets minimum amounts. Medical Payments: This type of coverage can be purchased in states that are not considered no-fault and will pay regardless of who is responsible for an accident. All reasonable medical or funeral expenses will be paid for under this type of policy. Collision: Pays for damage to your car caused by an accident. Comprehensive: Protect your car from damages from other sources when you buy this type of coverage. This can include protection from robbery, vandalism, and fire or flood damage. Uninsured Motorist: Too many drivers are breaking the law by driving a car without having the proper amount of auto insurance. This insurance will protect you if one of these irresponsible drivers hit you. Under-Insured Motorist: There are other drivers who have liability insurance that can't cover all the expenses they are responsible for. This type of insurance covers you from those drivers. Other policies, such as car rental and emergency road service, are also available. What you pay for auto insurance varies by company and will depend on multiple factors, such as: * What coverage you select * The make and model of the car you own * Your driving record * Your age, gender and marital status * Where you live Many people think of auto insurance as a necessary evil, but it can rescue your finances. Review your needs, research your options, and with the guidance of your insurance agent, make the decision that best suits you. Car Insurance Groveland