Personal auto insurance protects you when you are legally liable for injuries or damage to others including their property. It also applies to your passengers’ injuries and property.
Personal auto insurance policies are comprised of a total of six different kinds of coverage. Most states request you to buy some, but not all, of the following coverages:
- Liability Coverage pays for your legal responsibility to others for bodily injury or property damage.
- Uninsured/Underinsured Motorists Coverage protects the policyholder for his or her injury or damage caused by a negligent party who does not have adequate limits of insurance or any insurance at all.
- Property Coverage pays for damage to or theft of your car.
- Medical Payments Coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
- Personal Injury Protection is no-fault coverage for medical costs, loss of earnings, additional living expenses, and funeral costs for your passengers and pedestrians other than those insured under other policies.
- Additional optional coverages like Towing, Loss of Use and Pet Protection.
Why Do You Need Personal Auto Insurance?
It’s really all about protecting yourself financially – and for the peace of mind that comes with it.
- If you’re in an accident or your car is stolen, it costs money, often a lot of money, to fix or replace it.
- If you or any passengers are injured in an accident, medical costs can be extremely expensive.
- If you or your car is responsible for damage or injury to others, you may be sued to recover damages.
- Not only is having insurance a prudent financial decision, each state requires you to have at least some coverage.
- If you’re financing a car, your lender may also have requirements.
If you or a loved one are in an automobile accident, click here for a great resource you should keep in your car to ensure you have all of the information you need before submitting a claim.
To learn more about personal auto insurance or to speak with one of our agents, give us a call today.