subject: Car Insurance for Beginners [print this page] Car Insurance for Beginners Car Insurance for Beginners
Teenagers seem all too anxious to assume driving responsibility without having a clue as to what that responsibility will actually include. They see the freedom to come and go as they please, driving with the windows down and the stereo blasting, and cool spinning rims and tinted windows.
What they don't see is car insurance. It's not until young drivers find themselves on their own and buying their first car that they realize they may not know the first thing about finding an independent insurance company and getting signed up for a policy. In fact, young drivers may be hesitant to even get adequate coverage feeling it's more an expense than a protection. And this is where beginning car owners can go desperately wrong. So why is car insurance so important anyway? Let's start by taking a look at the basic elements of a car insurance policy found with any independent insurance company.
Car insurance policies will cover any combination of the following categories:
Property damage or medical bills for someone else (a third party)
Medical payments for you (the insured)
Repair bills for you (the insured)
The most common form of car insurance is a liability insurance, or third-party insurance. Just as the name suggests, this kind of policy provides compensation to a third party if you are involved in an accident and are found to be at fault. Like any kind of insurance, your policy will have a specific dollar amount with which it will cover the property damage or medical bills. As you look at different policies offered by independent insurance companies, you will want to think about how much coverage these policies provide in comparison to what you are paying.
A more comprehensive type of car insurance is called "full coverage." Don't be fooled into thinking that a policy entitled "full coverage" means you really are totally and completely covered. "Full coverage" also refers to a policy of various elements, albeit one with more coverage than that provided simply by a liability policy. With full coverage you are also guaranteed coverage on medical bills and property damage done to yourself regardless of who lies at fault in the case of an auto collision. Other types of coverage may insure your vehicle against damage done in situations other than an accident. For example, fire, theft, vandalism, or damage caused by weather would be included.
When choosing a policy that is best for you, look closely at the amount of the deductible or other coverage limits. Then imagine yourself in a real situation and needing that coverage. How much are you willing or able to pay out-of-pocket? Is your car, yourself, your passengers, and other cars, drivers and passengers covered? Ask yourself how much would be enough and then look for an independent insurance company that can give you that coverage at the best price and make sure you have all the coverage you might need.
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