Financial Security and Your Insurance Coverage

The number of drivers on the road increases each and every year. As this number goes up, the chances of a car collision will also increase. If you get in a car accident, the car insurance you have can make a large difference in what happens next. So how can you figure out which type of insurance you need and how much to buy? Mandated coverage varies based on the state/province but usually includes the following: Liability: Personal injury and property damage that you are responsible for will be covered under this type of insurance. Damages from bodily injury include medical expenses, lost wages, and pain and suffering. Property damage can refer to car repair costs or loss of property use. It also covers your legal fees if you are sued. Recommended, higher levels of insurance are available that take care of more than the lower, state-mandated varieties. Personal Injury Protection: Personal injury protection pays for the medical treatment for you and other people in your car, no matter who was responsible for the collision. It is mandated in some states and optional in others. This insurance can also cover lost wages, replacement of services and funeral expenses. The minimum amount of this insurance is usually set by local government. Medical Payments: Medical payment coverage is available in states that are not considered no-fault and will pay no matter who is responsible for the accident. All necessary medical or funeral expenses will be covered under this type of policy. Collision: Pays for damages to your vehicle caused by a collision. Comprehensive: This applies if your vehicle is stolen or damaged by causes other than a collision, including fire, wind, hail, flood or vandalism. Uninsured Motorist: If you are in an accident with a driver without insurance, this type of insurance will make sure you are covered. Under-Insured Motorist: Pays for collision expenses when a driver with insurance is injured in an accident caused by a driver who does not have the right amount of insurance to cover the full amount of the damages. Other kinds of coverage, such as car rental, are also available. Insurance Clermont