Financial Security and Your Home Insurance Coverage

Each year, more cars and drivers hit the roads. As this number goes up, the chances of a car wreck will also increase. Car insurance can be the difference between a minor setback and a major trial. How can you determine what type of insurance you require and where you should go to buy it? Your car insurance may be able to pay for car crash expenses ranging from car repairs to legal fees. Without insurance, you run the risk of having to pay the full cost of the harm you cause others or of repairing or replacing your vehicle if it is damaged or stolen. Liability: Personal injury and property damage that you are responsible for will be covered under this type of insurance. It also covers your defense and court costs if you are sued. Local laws typically mandate minimum amounts, but higher amounts can be purchased and are very beneficial. Personal Injury Protection: This is mandated in some states and is optional in others. Sometimes referred to as no-fault coverage, this pays the medical treatment for you or your passengers regardless of who was at fault. Local law typically sets minimum amounts. Medical Payments: Medical payment coverage is available in states that are not considered no-fault; it pays regardless of who carries responsibility for an accident. This insurance will pay for an insured person's reasonable medical or funeral expenses for bodily injury from an accident. Collision: Pays for damage to your vehicle caused by an accident. Comprehensive: Applies if your vehicle is stolen or damaged by causes other than an accident, including fire, wind, hail, flood or vandalism. Uninsured Motorist: Pays for damages when an insured person is in a crash caused by another person who does not have insurance. Under-Insured Motorist: Similar to uninsured motorist protection, this type of insurance protects you against drivers without sufficient insurance protection. Other kinds of coverage, like emergency road service and car rental, are also available. Car Insurance Groveland