What are the different types of auto insurance coverage?
Car insurance protects you against financial loss if you have an accident or your car is stolen. A car insurance policy can include several different types of coverages:
* Bodily injury liability, which pays for injuries that you cause someone else.
* Property damage liability coverage, which pays for damage that you cause to someone else's property.
* Medical coverage, which pays the cost of treating your injuries, or those of your passengers, after an accident.
* Collision coverage, which pays for damage to your car caused by flipping over or colliding with another car or an object.
* Comprehensive coverage, which pays you if your car is stolen or damaged by something other than a collision.
* Uninsured and underinsured motorist coverage, which pays if you're hit by a driver who doesn?t have enough insurance.
* Towing and rental coverage, which pays if you have a breakdown and need to have your vehicle towed and if you need to rent a vehicle while yours is being repaired.
How much insurance do I need?
Most states have minimum insurance requirements for liability insurance. You can check your state's department of insurance website to find out what the minimum requirements are for your state. Note, though, that you may want to buy higher limits of coverage.
Collision or comprehensive coverage is not required by state law, but if you're buying a new car your lender may require it.
How do I find the best rate on car insurance?
To save time and money when you shop for car insurance, go to an insurance comparison website where you can compare quotes from multiple insurance companies. As an added benefit, the best insurance comparison websites have insurance professionals on hand to answer your car insurance questions. (See link below.)
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