Protecting Yourself and Your Car ¨C The Car Insurance Coverage
A neighbor of mine met an accident 3 years ago. His left leg was amputated. One of his companions died on the spot. Two of them were seriously injured. They had a head-on collision with a bigger truck. The other party was found at fault. The one at fault has liability insurance.
If you’re found at fault in an accident, you can be held liable for all damages as a result of the accident. Liability insurance can help shield you from paying for those damages out of pocket.
Car insurance companies offer different coverages. Understanding the coverages gives an insight on what is necessary and what is applicable. One of which is liability insurance coverage.
There are two types of liability coverage — bodily injury and property damage. Bodily injury liability includes medical expenses, pain and suffering, legal defense, court costs, loss of income compensation, funeral expenses, and on-scene emergency aid. Property damage liability includes structural damage to homes and storefronts, vehicle repair and replacement, and repair and replacement of other stationary objects.
The truck owner was thankful he had his expenses covered by the insurance. Otherwise, with three claimants in tow, he could have gone broke. My neighbor has a mini computer shop now. He got it from his accident claims.
Other coverages include Medical Payments / Personal Injury Protection. This covers medical expenses up to policy limits for anyone injured while in your vehicle, regardless of who is at fault.
Another one is Uninsured / Underinsured Motorists. If you’re in an accident caused by someone who doesn’t have car insurance, or not enough, this covers you and other passengers in your vehicle, up to your policy limits.Uninsured/underinsured motorist coverage is especially important, considering the benefits it offers and the number of uninsured drivers on the road, particularly during this period of economic hardship.
Collision and Comprehensive
You¡¯re covered under collision if your car rolls over, hit by another car, or hits another car or object. Comprehensive coverage protects your car if it is stolen or damaged by something other than collision, such as fire, vandalism, earthquake or other fortuitous events.
Car insurance may come in pretty handy when an accident happens. Coverage may vary, so take a moment to find out what coverage is required where you live. Decide what premiums and coverage you need and do a car insurance comparison. A good decision when it comes to insurance is worth the investment.