Many people have an insurance policy but do not exactly understand how they are covered or what they will do if they find themselves in the position of needing to utilize their insurance. Here are the basic types of car insurance.
Liability Coverage- This type of coverage covers the damages when you are at fault in an accident and you damage someone else’s car or property.
Liability coverage is often mandated by law, so it is important that you as the driver make certain you have an adequate amount.
Medical Payments- This is also called PIP in some states. Medical payments pay for any injuries to the driver or passengers that occur if an accident occurred while you were driving. Medical payment insurance varies from state to state, so make certain you are covered as expected.
Comprehensive Coverage- This covers anything that may happen to you rcar that is not directly related a collision. This would include things such as theft, fire, hitting an animal, breakage of glass, flood or vandalism.
Collision Coverage- This is the basic coverage type that covers your vehicle if you collide, or run into, something. This covers collisions with other cars as well as if you were to run into a wall, barrier or bridge.
Other Optional coverages- New car replacement, original manufacturer equipment, gap coverage, after market or accessories added to your vehicle, towing and rental reimbursement.
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