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Car Insurance - Got Yours?
By Michael Rohrer
If you are a driver, car insurance is required. No ifs, ands, or buts.
Most of us feel the cost of insurance is high. Some people will pay regular premiums for years and never need to use their car insurance. Others may have had to file a claim at some time. Whichever one you may be, don't you feel safer knowing you are protected if an accident occurs?
How many times have you been driving and seen what appears to be a simple fender-bender? Nothing is simple. Even a slight bump from the rear can cause whiplash, and damage to the car that you can't see. Many of us have seen much more serious accidents.
Think what it would be like to have to take care of all the repairs and medical bills without automobile insurance.
Consider some statistics that might make all of us more comfortable with the automobile insurance we pay - an estimated 6,420,000 automobiles were involved in collisions in the US in a recent year and the cost of these accidents has exceeded 230 billion dollars.
Considering there are about 290 million people in the US those accidents cost almost $800.00 per person, per year. Those figures are staggering. I, personally, was shocked at the cost.
How can we protect ourselves? A major way is automobile insurance. There are many kinds of car insurance policies. Here are a few basics:
Liability: This type of automobile insurance is required in all states. It pays for the other person's injuries and property if an accident is determined to be your fault.
Property Damage Liability: This is an automobile insurance requirement in all states.
In the event that you damage another person's property, like run through their hedge, or as I once saw a driver lose control of the car, ran down the sidewalk, taking out a couple of small trees, then hit a street sign and the side of a building. No one was hurt, but it certainly took more than that $800.00 we talked about earlier to fix what was knocked down, not including the vehicle.
Bodily Injury Liability: Automobile insurance of this kind pays for others injuries. A word of caution: Check with your agent to make sure you have adequate coverage for this, because anyone involved in the accident that is injured will need to have their medical bills paid.
If you do not carry enough
of this kind of automobile insurance, and the maximum is reached, then they could sue you for your personal property.
Comprehensive: If you are driving down the road and a rock hits your windshield and cracks it you are covered if you have comprehensive automobile insurance. Comprehensive automobile insurance covers if the damage is not caused by an accident.
This could include hailstones, if your car gets broken into, or like what happened to mine one time: it caught on fire while it was just sitting in the driveway, warming up one morning. Comprehensive was a life-saver, financially, for us.
Comprehensive automobile insurance often is combined with collision coverage.
Collision: Collision automobile insurance covers your car.
If you are making payments to a bank, finance company, credit union or other institution for your vehicle, most will require you to carry this type of automobile insurance. This is a protection for them as well as you. If the car is involved in an accident and is totaled, they get paid off and you no longer owe them for a car you don't have.
Generally, if a person carries collision coverage, the other kinds of insurance are also covered, as well as, personal injury protection (PIP). PIP covers yours and other's medical expenses in the event of an accident.
This is just an overview of car insurance coverage. Each state has its own specific requirements.
If you have a car, the best thing you can do for you and your family is have automobile insurance protection that meets, and maybe even exceeds, your needs in the event of an accident.
A quick way to check and compare car insurance quotes is online. Many companies offer free quotes from several different companies so it is easy to compare them. |
