|
|
|
|
|
|
|
|
|
|
|
Most people only think that insurance is something they need so they can get their registration and tag so they can drive. It is something that they need because their license will be suspended if they don't get it. It's just a bother to some because people think "I don't get into accidents, I am a careful driver."
Often times people will call for insurance and say give me the cheapest insurance or give me only what is required. Many people don't even know what this insurance coverage this is. A lot of people only really become aware of what coverage they have when they need it, like when they need to make a claim.
When you run into that stopped car or have someone sideswipe your car in a parking lot while you are shopping, suddenly having only the coverage is required by law may not be the best thing to have. You should always have as much insurance as you can afford to carry. Having too little is never good and if you have insurance you cannot afford is not any better. A policy that is cancelled due to non-payment does you no good at all.
Lets take a look at the state I am familiar with - Florida. Florida is a no-fault state. What does this mean? Well, if you have the proper state required coverage you will be protected by the no-fault law. If you are in an accident whether you are at fault or not at fault you will go through your own personal injury coverage for your medical expenses for the first $10,000. If you do not have at lease state minimum insurance then you will not be protected and may be subject to paying for the injuries of the other people you hurt in the accident.
There are many types of coverage to purchase and meet your insurance needs. Every coverage has a purpose and all are good to get.
Florida state minimum insurance is Personal Injury Protection and Property Damage. Personal Injury Protection or P.I.P. covers your medical, hospital and funeral expenses up to its limits. It also covers others in your vehicle and pedestrians struck by your car. You are covered for up to $10,000. There also may be a deductible. This can be 0, 250, 500 or 1000 deductible. A $1000 deductible being the minimum in Florida.
Property Damage liability covers if your vehicle damages another person's property. This could be their car, house, motorcycle, etc. Limits for this are $10,000, $25,000 or $50,000. The Minimum in Florida is $10,000.
Another valuable coverage is Bodily Injury Liability. Bodily Injury covers other people's injury or death that you are responsible for up to the limits you purchase. This is not required by Florida for state minimum insurance, but it would satisfy another law called the Financial Responsibility law. This law states that if you are not financially responsible at the time of and at fault accident where someone gets injured or property damage occurs, your license may be suspended. At this point you may be able to get your license back by filing an Sr-22. This form shows to the state you are now carrying Bodily Injury Coverage and are now financially responsible. Usually you must carry this for 3 years with no lapses in coverage.
Another common insurance people ask for is Full Coverage. This is not an insurance coverage and means a different thing with every company you call. Most people only know that their car dealer or bank wants Full Coverage so they ask for it. Comprehensive and Collision is what these companies are looking for. Collision covers repairs when your vehicle hits or is hit by another vehicle. If it is destroyed it will also pay up to the book value of the vehicle at the time of a loss. Comprehensive covers for loss caused by other circumstances other than a collision. Some examples are theft, flood, fire or animal damage. This will also cover total losses up to the book value of the vehicle.
Other types of coverage available are medical and Uninsured Motorist. Medical covers medical costs to you and your passengers injured in an accident. Uninsured Motorist covers injuries to you and your passengers when the other person in the accident is at fault but does not have insurance or does not have enough insurance.
These are just some of the basics about the insurance there is more detailed information about each coverage at the Learning Center at http://www.carinsurance.com. But this information should give you a good idea about what type of coverage you might need to research more or be ready to purchase. Knowing the basics is your first step on making smart purchasing decisions!
Visit http://www.carinsurance.com for Automobile Insurance
James Diaz is a representative of CarInsurance.com. You can visit CarInsurance.com at http://www.carinsurance.com or contact them at 1-877-327-8728.
CarInsurance.com's online insurance marketplace gives an opportunity to consumers and to insurance companies. We offer the ability to shop for car insurance online.
Consumers can receive quotes from many insurance companies, in some states you are able to purchase your insurance instantly, online. You don't have to drive your car to buy car insurance. Buy online... anytime!
The biggest single investment most people make in their lifetime... Read More
The Health Savings Account (HSA) is a tool to help... Read More
As a young, healthy college student, it might be tempting... Read More
Whether you are self-employed or a small business owner, finding... Read More
Finding insurance quotes for California auto is now pretty easy.... Read More
Having even a teeny-tiny car accident can be one of... Read More
Long-term care insurance policies have a variety of features and... Read More
As a property owner it is essential to protect yourself... Read More
Cheap term life insurance is easier to get than most... Read More
When you are looking for an automobile insurance quote, the... Read More
Health insurance is a kind of protection that provides payment... Read More
Risk ManagementAlternate Risk Transfer is a fancy way of saying... Read More
As more and more individuals working at home with or... Read More
When obtaining renter's insurance it is important to put serious... Read More
Which type of policy is best for you, term or... Read More
Your friendly, neighborhood life insurance agent is most likely to... Read More
Although car insurance is compulsory, it's not necessary to pay... Read More
Before attempting to find the best homeowners insurance coverage you... Read More
To get the cheapest possible quote for your car insurance,... Read More
Whole life insurance quotes the most expensive kind of policies... Read More
An automobile accident can be a terrifying event for anyone,... Read More
As we go through life our needs change. A Young... Read More
Life insurance is a type of protection that can be... Read More
Renter's insurance is protection intended for anyone who rents an... Read More
In the early 1980's Medicare started using a system called... Read More
I have written many articles about the hard surety bond... Read More
Here's some "Inside-Info" you must know so you won't be... Read More
The issue at hand is the use of a consumer's... Read More
An auto insurance claim adjuster works for the insurance company... Read More
The Health Savings Account (HSA) is an amazing tool to... Read More
Do you like to spend all day being sitting around?... Read More
Most people don't realize that there are 7 different homeowners... Read More
Health insurance is a kind of protection that provides payment... Read More
Family health insurance plans typically need to offer more coverage... Read More
With Nursing home Cost's running $4,000 to $6,000 a month... Read More
If you're self-employed and facing high health insurance bills, there... Read More
Health Insurance For Seniors On The NetWhen a good friend... Read More
A Bed and Breakfast, often referred to as a B&B,... Read More
With the soaring rise in claims to insurers from their... Read More
Though popular among today's aging Baby Boomers and members of... Read More
When deciding on the appropriate amount of homeowner's insurance coverage... Read More
By searching online for life insurance, you can get a... Read More
Life insurance quoteThank goodness John took his life insurance quote... Read More
Life insurance in the UK is becoming more and more... Read More
It has become increasingly difficult to get young driver car... Read More
As many of us expect, the New Year will bring... Read More
More than 150 insurance companies offer thousands of life insurance... Read More
The Life Settlement market is all about providing due access... Read More
As more and more individuals working at home with or... Read More
Did you know? One year of disability can wipe out... Read More
Insurance |