Everything You Need To Know About Auto Insurance
In most states in the US, auto insurance is required to be carried by all drivers
. There are some exceptions to the rule, but most people will purchase car insurance, either because of laws requiring that they do so, or because of the potential risks involved in being in an accident without it.Many or perhaps even most other countries also require that drivers have coverage. There a few, such as South Africa, that do not have such a requirement. In South Africa's case, the government uses a portion of the fees levied on gasoline to pay for people who are injured in car accidents. In some parts of Australia and in some other areas of the world, coverage is included in driver's license or car registration fees, making it impossible to have a license and not have purchased a policy.
There are different types of coverage included in different plans, and some types of coverage are mandatory while others are not. Liability coverage deals with injuries to third parties caused by the vehicle, and is the mandatory part of a plan. Plans come with fixed amounts of coverage, and the amount is different for bodily injury and property damage. In the US, each state sets its own minimum coverage requirements.
Comprehensive coverage covers the car itself in situations that are not precisely accidents. These include theft and vandalism attempted or managed on the car, and things like fires or hitting an animal. This coverage is optional. Collision coverage has a bit of a confusing name, but basically covers damage to the car that occurs during an accident. This pays out if you get into an accident and your car needs repairs. It is also optional.
Deductibles apply to both comprehensive and collision policies. A deductible is the amount you are responsible for before the company you have your plan through pays out anything. The level of your deductible helps determine how expensive your policy is. Lower deductible plans cost more.
Uninsured motorist coverage is something that not everybody knows about, but which can be important. In an accident where both drivers are insured, the insurance company of the one who is found at fault pays. But if you get into an accident that is not your fault with a driver who doesn't have insurance, you will be paying your own expenses out of pocket unless you have uninsured motorist coverage.
The price of auto insurance is determined based on many different factors such as age, driving history, the cars you own, and how many miles per year you drive. Getting a car insurance quote is easy these days-- all you need to do is fire up the internet. Some company websites even offer an auto insurance quote for themselves and several other competitors at the same time.
Many people drive without adequate coverage and never get into accidents. However, doing this can leave you open to massive liability should you ever get in a wreck that is found to be your fault, and in some places, can result in your license being suspended or revoked. It's always best to have the proper coverage when driving.
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