|
|
Understanding Your Auto InsuranceBy Tom McKnight
Reading auto insurance policies can be like trying to decipher advanced calculus. It's really not that difficult if you understand a few basic terms. Collision, Comprehensive, Bodily Injury Liability and Property Injury Liability are the main terms you need to fully understand.
You'll appreciate Collision Coverage in the event you need repairs or replacements if your vehicle collides with another vehicle or property. The higher the deductible you elect, the lower your premiums will cost you. If you're at fault for something, well of course it would still be an accident, as I doubt you'd plan to run into that guard rail, but how much would you be able to afford to pay out of pocket for repairs? $250? $500? $1,000? Just like medical insurance, you'd have to pay that deductible amount first and then the insurance company would pay for the remaining charges for the repair.
Another term to become intimately familiar with is Comprehensive Coverage. This is the coverage that pays for damage caused from falling objects, fire, certain natural disasters, theft and vandalism. Deductibles work the same way as with Collision; the more out of pocket costs to you, the less your insurance premium.
In addition to knowing how much Collision and Comprehensive coverage you have, you'll want to know about your liability coverage. Let's say you rear-end another driver. Or your foot slips off the brake onto the gas pedal and you plow down a mailbox. Your liability coverage will kick in and pay for the damages that you caused with your insured vehicle. You liability coverage will, or could, include bodily injury (people) and property damage.
You don't want to go without Bodily Injury Coverage. If you were at fault in an accident and others involved needed to go to the hospital and/or lost wages from missing work, those costs would come out of your pocket if you are not insured with Bodily Injury Coverage. It doesn't take a genius to know how quickly those amounts can add up. This type of coverage can also help you in the event the other party takes legal action against you. Many states require you to carry Bodily Injury Coverage.
The other part of liability includes Property Damage coverage. Can you imagine how much it might cost should you accidentally drive into the side of someone's home? You wouldn't want to be caught without property damage insurance should you need to pay for repairs to another vehicle, building or anything else you might hit. As with Bodily Injury coverage, Property Damage coverage also helps protect you in the event of a related lawsuit.
Every policy will have its limits and various degrees of coverage. It's important that you understand the basics of what you are paying for and why it is necessary. No one plans for an accident, be prepared!
|
Steer Straight uses bumper stickers to try to improve teen driving (The MetroWest Daily News)
To help reduce car crashes involving teens, Sudbury's Deborah Smith and Wellesley?s Anne London have launched Steer Straight Inc., a Wellesley-based teen driver protection safety program utilizing bumper stickers to get its message across.
Summit MRDD expenses scrutinized (Akron Beacon Journal)
When Summit County Board of MRDD Superintendent Thomas Armstrong takes his 2001 Land Rover Discovery II into the shop for repairs, county residents pick up part of the tab.
Gas prices first on list of worries (Altoona Mirror)
Dan and Karen Peck moved back to Pennsylvania when they got tired of spending money on gas to travel from South Carolina to visit their parents. They arrived in Houtzdale permanently in March. ''They're coming down now, but I expect them to go right back up,'' Dan Peck said last month about gas prices. ''Maybe a little higher.
(AFX UK Focus) 2008-09-04 16:00 TFN NEWS BRIEFING: Banking and insurance highlights to 15:45 BST (Interactive Investor)
2008-09-04 15:14:50 ECB toughens collateral rules for accessing liquidity
Chevy Rock & Roll 400 starting lineup (Fox Sports)
ActiveReports Document @page{size: 8.5in 11in;margin-top:0.1in;margin-left:0.3in;margin-right:0.3in;margin-bottom:0.1in;} Starting Line Up by Row Richmond International Raceway Provided by NASCAR Statistics - Fri, September 05, 2008 @ 07:46 PM Eastern Speed Time 02:04:04 09/06/97 Date Driver Dale Jarrett Track Race Record: Chevy Rock & Roll 400 1 18 Kyle Busch M&M's Toyota Row 1: 2 99 ...
Ragan - Ford interview 2008-09-02 (Motorsport.com)
Heading into Richmond, David Ragan, driver of the No. 6 AAA Insurance Ford, is in 13th place in the NASCAR Sprint Cup standings, just 17 points out of the final transfer spot with just one race remaining before the start of the Chase.
Reaction To Sting Impact Promo, Possible Return, Nash Speaks On Konnan Lawsuit & Racism In Professional Wrestling (Lords of Pain)
-- Sting's promo on Impact last week was actually originally slated to be a heel promo. However, Sting nixed practically everything scripted that would make him come across as a heel. His reasoning is that he wasn't feeling some of the lines he was supposed to say.
Atlantans can save $9,129 a year by using mass transit, group says (Atlanta Journal-Constitution)
The average Atlanta household using mass transit saves $9,129 a year by not driving, according to a transit advocacy group.
Tips for how to prepare before a storm and what to do afterward (The Salisbury Post)
Here are some things individuals can do to prepare, be safe and minimize damage when coping with severe weather. The tips come from AAA Carolinas and ...
Eluding suspect charged (The Wenatchee World)
WATERVILLE - A 31-year-old East Wenatchee man has been charged with attempting to elude police in connection with a high-speed pursuit from Rock Island on Aug. 28.
|
Week in Review #36 (2008-09-07)
Technical analysts looking at the major equity market indexes of various countries this weekend must be stunned to see a consistent pattern where pri...
Jimmie Johnson Wins Chevy Rock and Roll 400, 2008 Chase Field Set
Copyright © 2008 Backstretch Motorsports. All Rights Reserved. If you are not reading this in a news reader, the website you are viewing it on is gu...
Chevy Rock & Roll 400 starting lineup
ActiveReports Document @page{size: 8.5in 11in;margin-top:0.1in;margin-left:0.3in;margin-right:0.3in;margin-bottom:0.1in;} Starting Line Up by Row Rich...
Richmond Races and All Track Activities Postponed Till Sunday
Copyright © 2008 Backstretch Motorsports. All Rights Reserved. If you are not reading this in a news reader, the website you are viewing it on is gu...
I Removed Comprehensive and Collision
Ok folks. I decided to make this a purely mathematical decision and ignore my fears and emotions. Right or wrong (or smart or dumb), I decid...
5 Points Automotive Services is a state of the art service center and auto body repair shop!
5 Points Automotive Services is a state of the art service center and auto body repair shop with the latest tools and technologies to repair your veh...
Debt Rattle, September 4 2008: Slaughterhouse Stats
UPDATED 5.00 PM EDT: Wall Street, DJIA, Sep 4 2008, Closing Numbers Ilargi: I thought I?d open today with a look at the New York Stock Exchange. ...
Will Fish go for the stadiums deal?
I remember when Nick Fish ran for Portland City Council in 2004. He had the election won, but after he landed a couple of big endorsements, he got com...
Received letter from car insurance falsely accusing of hit and run accident? Please see details?
Received letter from car insurance falsely accusing of hit and run accident? Please see details? I received a letter from AAA of Southern California...
Gearing up
Keeping one's ordinary life in order when living away from home can get tricky. Today I made sure my AAA membership and my car insurance were in goo...
Martin Connor Used Campaign Funds For A Brand New Car, Parking?
This may be old news, but it was news to me: According to a 2006 Report compiled by the nonprofit Common Cause organization on NY State campaign fund...
This Week in Ford Racing - NASCAR Edition
Heading into Richmond, David Ragan, driver of the No. 6 AAA Insurance Ford, is in 13th place in the NASCAR Sprint Cup standings, just 17 points out o...
Introducing? The Thriftymobile
Now this isn?t the first time I?ve mentioned this behemoth of the frugal motoring world, so I thought that proper introductions were in order. Please...
Johnson Wins by Total Domination of Pepsi 500 Field
Copyright © 2008 Backstretch Motorsports. All Rights Reserved. If you are not reading this in a news reader, the website you are viewing it on is gu...
[Open Thread] 2008 Pepsi 500 at Auto Club Speedway in Fontana, California (August 31, 2008)
[Open Thread] 2008 Pepsi 500 at Auto Club Speedway in Fontana, California (August 31, 2008) by Diecast Dude on Aug 31, 2008 7:58 PM EDT in NASCAR...
I?m Getting Dissapointed - UPDATED - Liberty Mutual Insurance Group - Auto
I?m Getting Dissapointed - UPDATED - Liberty Mutual Insurance Group - Auto Written on 1 September 2008 by admin I?ve been with Liberty Mutual n...
14 Totally Ridiculous Insurance You Probably Don?t Need
You may well be thinking, Gee ?I sure need a lot more insurance that I have now! Well, maybe, you do. And maybe you don?t. According to the National ...
This Information Superhighway Thing Is Getting a Bit Ridiculous
While I was abroad Randall Stross wrote a good piece in the New York Times (here or below the jump), in which I was quoted briefly, about Chrysler?s ...
Johnson Brings Pepsi 500 Pole Position to Hometown Crowd
Copyright © 2008 Backstretch Motorsports. All Rights Reserved. If you are not reading this in a news reader, the website you are viewing it on is gu...
Third consecutive decrease in holiday travel
From AAA: AAA projects a slight decrease in the number of Americans traveling during the Labor Day holiday weekend. Nearly 34.38 million American...
|
|
Best Sellers from
|
