Car insurance can be an essential part of your financial security. It provides financial protection if your vehicle is damaged, stolen, or you’re at fault for an accident. Learn about the basics of coverage and cost to ensure you get a policy that suits your needs and budget. Having this knowledge will save you time, money, and frustration down the road.
Comprehensive coverage is one of the most critical aspects of vehicle insurance Easton, MA. This insurance covers damage from theft, natural disasters, and other events beyond your control. For example, if you swerve to avoid a falling tree branch, you would likely need comprehensive insurance to cover the damages. On the other hand, if you are involved in an accident and your car is damaged due to the impact, collision insurance will cover the costs associated with the accident. If you live in an area where weather-related events like hurricanes, tornadoes, and earthquakes are every day, comprehensive insurance is a wise investment. However, about a fourth of drivers nationwide choose to skip this coverage.
Liability insurance is required by law in almost all states and protects you from claims for injuries or property damage that occur during an accident you cause. It also covers medical bills and loss of income for people you injure. Each state sets its minimum liability coverage requirements, usually expressed as three numbers. Bodily injury insurance is typically listed as a per-person limit, while a per-accident limit generally represents property damage liability. Drivers may consider buying higher liability limits than their state’s minimums. That’s especially important if you have a lot of assets or a large household.
Collision coverage pays for damage to your car when you’re in an accident. It’s often optional but can be required by lenders or banks who finance your vehicle. If you have collision coverage, your insurance company will pay to repair or replace your vehicle. They may also pay the actual cash value of your car if it’s deemed a total loss. Moreover, collision coverage can help you avoid paying for repairs exceeding your deductible. The deductible is a set amount that is subtracted from the amount of your claim payout. The higher the deductible, the lower your premium. However, if you choose a high deductible, you’ll have to pay more out-of-pocket to claim.
Uninsured Motorist Coverage
Uninsured motorist (UM) coverage protects you against the high costs of being involved in an accident with a driver who does not have car insurance. According to the Insurance Information Institute, nearly one in eight drivers on our roads do not have liability car insurance. That means you could be left with thousands of dollars in medical bills or car repairs if you’re in an accident with an uninsured driver. This type of coverage is required in many states, but you can also purchase it independently if you want extra protection for your car and family.UM/UIM coverage is a valuable option besides your standard auto insurance policy. UM/UIM can cover bodily injury, property damage, and medical payments for you and your passengers. It is a valuable and affordable way to protect yourself and your loved ones after an accident.