What Do You Mean My Auto Insurance Policy Doesnt Cover This!! -

Home
>
Insurance
>
What Do You Mean My Auto Insurance Policy Doesnt Cover This!!

What Do You Mean My Auto Insurance Policy Doesnt Cover This!!

Auto insurance is an agreement between you and your insurance company where you arrange to pay a premium in an exchange for the peace of mind that your insurance agency will pay for vehicle related financial losses during the duration of the policy. You need auto insurance because you are liable by law to pay for losses you cause to others in the event of an automobile accident. Purchasing auto insurance is the surest way to guarantee you will be able to fulfill your end of the bargain. In some states it is required that you have minimum forms of insurance in order to drive. You also must have insurance in order to finance a car.

One of the first questions you will be asked when obtaining automobile insurance is how much of the covered loss or deductible do you want to be your responsibility? You may choose between $100, $250, $500, or $1,000. The higher your deductible the lower your premium however you must keep in mind that the deductible is the amount you must pay before your insurance will assist you. If you cannot afford to pay the first $1,000 of the covered loss you may want to consider how much you can afford and choose a lower deductible.

Your insurance coverage is broken down into each purpose you would need to be covered for. One of the most common coverages include liability which pays out when the insured driver is legally responsible for bodily injuries and property damage they cause to others. Bodily injury damages cover medical expenses, pain and suffering, lost wages and other special damages. Property damage includes damaged property and loss of use. Liability also pays legal defense expenses. Each state has a set minimum amount of coverage you must carry but you may opt for higher amounts.

Personal injury protection pays medical expenses for covered individuals despite who is at fault for the accident. It also covers rehab, lost wages, replacement of services and funeral expenses. Medical payment coverage pays medical and funeral expenses regardless of fault when the causes of these requirements are due to an automobile accident. Collision coverage pays for damage to an insured vehicle caused by collision with another vehicle or object. Your deductible will apply to collision coverage.

Comprehensive coverage pays for loss of or damage to an insured vehicle unless is damaged or lost as the result of a collision. Comprehensive would cover losses due to theft, fire, wind, hail, flood, vandalism or impact with an animal. Your deductible will apply to comprehensive coverage.

Uninsured motorist pays for loss or damage caused by another driver who does not have liability insurance. Underinsured motorist coverage pays when the insured driver is injured in an automobile accident caused by a driver who has an inadequate amount of liability insurance. Rental reimbursement pays rental vehicle costs when your vehicle is put out of commission as the result of an automobile accident. Daily monetary limits may apply. Emergency roadside assistance coverage pays towing expenses when your vehicle breaks down. Distance limits may apply.

Your policy will generally cover you, your spouse children and other family members who reside in your residence as well as anyone else who has permission to drive your covered automobile.

Timothy Gorman is a successful Webmaster and publisher of Best-Free-Insurance-Quotes.com. He provides more insurance information and offers free money saving home, life, health and auto insurance quotes that you can research in your pajamas on his website.

In The News:

Bigger waists mean thinner wallets as Ala. approves insurance ...
Newsday, NY - 2 hours ago
The state has given its 37527 employees a year to start getting fit — or they'll pay $25 a month for insurance that otherwise is free. ...

ABC News
Sanjaya appears in Nationwide Insurance commercial
The Associated Press - 13 hours ago
COLUMBUS, Ohio (AP) — Former "American Idol" contestant Sanjaya Malakar is pitching Nationwide Insurance. He's in a new ad that's part of the company's ...
Sanjaya Malakar goes from "American Idol" to insurance commercial The TV Guy
Sanjaya of 'American Idol' reappears in Nationwide insurance ... Minneapolis Star Tribune
Sanjaya appears in Nationwide Insurance commercial Seattle Times
all 262 news articles

Insurance Australia Posts Loss on UK Writedowns (Update2)
Bloomberg - 46 minutes ago
22 (Bloomberg) -- Insurance Australia Group Ltd., which rejected a takeover offer this year, turned to a loss in the second half as new Chief Executive ...
QBE profit falls 7% LIVENEWS.com.au
QBE shopping for acquisitions NEWS.com.au
QBE confirms full year profit margin Sydney Morning Herald
The Age - Bloombergall 72 news articles

SafeAuto Insurance Company Announces Tire Safety Check Event
MarketWatch - 5 hours ago
That's why SafeAuto Insurance Company is teaming up to help Columbus drivers 'play it safe.'" SafeAuto offers drivers five essential tips to maintaining ...

Earthtimes (press release)
FDIC Restructuring Some IndyMac Loans
Washington Post, United States - 12 hours ago
Throwing a lifeline to distressed homeowners, the Federal Deposit Insurance Corp. will offer delinquent IndyMac borrowers new mortgages with interest rates ...
FDIC to Restructure IndyMac Loans TheStreet.com
IndyMac borrowers to get relief CNNMoney.com
The Problem with Problem Banks CounterPunch
El Defensor Chieftain - Bizjournals.comall 353 news articles

Americans Across the Country Would Pay Billions if Congress Passes ...
Insurance News Net (press release), PA - 6 hours ago
The new economic study reports that these massive new taxpayer burdens would be imposed by Congress despite the fact that private insurance and reinsurance ...

Insurance gap leads some elderly to forgo medicine
KTIV, IA - 9 hours ago
After that, insurance kicks in again. The study looked at eight categories of drugs. On average, 15% of those hitting the coverage gap stopped their ...

FinancialAdvice.co.uk
Car dealers fined over insurance
BBC News, UK - 11 hours ago
Five motor dealerships have been fined by the Financial Services Authority (FSA) for mis-selling payment protection insurance (PPI). ...
FSA Continues Battle Against PPI FinancialAdvice.co.uk
FSA fines motor retailers £175000 for PPI failings FT Adviser
Car retailers fined for PPI failings ifaonline.co.uk
Bloomberg - MSN Money UKall 32 news articles

First Insurance lowers rates Pacific Business News (Honolulu)
Bizjournals.com, NC - 27 minutes ago
First Insurance Company of Hawaii Ltd. said it has lowered its rates for homeowners, personal auto and personal umbrella insurance by an average of 8.5 ...

High insurance loading despite IRDA directive
Times of India, India - 5 hours ago
How effective is the Insurance Regulatory and Development Authority (IRDA) directive over loading (increase) of premium during health insurance policy ...

insurance - Google News