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!
Are you a safe driver? IMS' car can tell you
Intelligent Mechatronic Systems (IMS) has built a connected car experience focused on safer, smarter and greener driving. CHICAGO, Sept. 2, 2014 /PRNewswire/ - Intelligent Mechatronic Systems (IMS) is ...
Comparenow.com Explains Why Switching Auto Insurance Companies Can Be a Lucrative Consumer Choice
The longer a customer is with an auto insurance company, the more they may be paying for their policy. Comparenow.com explains why and offers an easy way to save money on car insurance. (PRWeb August 19, 2014) Read the full story at http://www.prweb.com/releases/2014/08/prweb12103651.htm
Doctor running for lieutenant governor swears by 'direct primary care' model
TOPEKA ? Wichita physician Josh Umbehr has never understood the traditional model of health care reimbursement ? the one in which doctors and hospitals fill out pages of forms to bill a patient's insurance company for everything from a $3 test to a $30,000 surgery.
41% spend 15 minutes picking health plans
Forty-one percent of those surveyed said the spent 15 minutes or less researching their health insurance plan in 2013, USA Today reports.
Auto Owners Insurance Prices by Zip Code Added to National Database at Insurer Portal
Auto owners insurance prices are now found by zip code through the Quotes Pros database at http://quotespros.com/auto-insurance.html . (PRWeb September 05, 2014) Read the full story at http://www.prweb.com/releases/auto-owners-insurance/car-insurance-comparison/prweb12148996.htm
New Program from Liberty Mutual Insurance Play Positive? Renews Spirit of Sportsmanship in Youth Sports
BOSTON, Sept. 8, 2014 /PRNewswire/ -- With schools back in session and fall sports practices across the country underway, Liberty Mutual Insurance looks to shine a new light on the importance of sportsmanship in youth sports. Liberty Mutual today introduces the Play Positive? Pledge, an opportunity for youth sports teams and organizations to earn $2,500 for pledging their commitment to ...
Car Insurance Quotes for California Motorists Now Delivered Online at Auto Insurer Website
Car insurance quotes are now obtained online by California drivers using the system at the Quotes Pros website. State agencies can be sorted by price at http://quotespros.com/auto-insurance.html . (PRWeb August 20, 2014) Read the full story at http://www.prweb.com/releases/car-insurance-quotes/auto-insurance-california/prweb12109490.htm
Kasey Kahne wins in wild finish at Atlanta after Tony Stewart struggles
HAMPTON, Ga. ? Kasey Kahne is no longer chasing a spot in NASCAR's 10-race championship playoff.
L?olivier Assurances Selects Guidewire Products for Underwriting, Policy Administration, Claims Management, and Billing
Guidewire Software, Inc. , a provider of software products to Property/Casualty insurers, today announced that L?olivier Assurances, the French subsidiary of Admi
800+ Global Insurance Telematics Leaders Unite in Chicago Today to Rewrite the UBI Rule Book as Insurers Re-brand to ...
Telematics Update: Today, 800+ automakers, insurers, auto agents and telematics execs including Allstate, Progressive, Liberty Mutual, Farmers Insurance and Ford have united at Insurance Telematics USA 2014 to discuss how to position UBI as a mainstream product by delivering undisputable value to consumers. (PRWeb September 03, 2014) Read the full story at http://www.prweb.com/releases/2014/09 ...