2 Types Of Insurance Coverage You Should Always Carry
It is very important that you always carry auto insurance. Auto insurance is an important part of protecting yourself, so it is vital that you always have a policy that is comprehensive and is easy to access. Although most people feel it is important to save money on their policy, it is also very important that you have enough protection. Here are some things you auto insurance policy should include.
1. Comprehensive Coverage
There are many different types of coverage you can get, and there are even some that may be required by law in your state. Collision coverage, which is the coverage that will pay for your car or the other person's car if you are in an accident, is usually the bare minimum and is required in most places. So you should always expect to see that kind of coverage. However a policy that has comprehensive coverage is just as important. This is the coverage that protects your car if anything happens to it that wasn't caused by a collision. For example, if the car is vandalized, you would access comprehensive coverage; if the car was out in a hail storm and the hail damaged part of it, you couldn't get it fixed unless you carry comprehensive coverage. This is why it is so important to always have comprehensive policies.
2. Liability Coverage
Liability coverage is one of the most important types of coverage you can get because it is so pertinent! Lawsuits happen every day for car crashes. In fact, that is one of the more common reasons that people file a personal injury lawsuit is for a car crash. When you have liability coverage it means that the insurance company helps you pay out if you are found liable or responsible in the case of a lawsuit.
Think about how much money goes into lawsuits, and think about how much money you would have to come up with, should you be sued. It could break you financially and cause your entire financial security to crumble. Instead of putting yourself at that kind of risk, just make sure that you always carry liability coverage.
As you can see even though you may be tempted to save money in the short run by opting out of these types of coverage, you could actually hurt yourself and your finances worse if you don't have proper coverage on your car. This is why you should always have these types of coverage funded by insurance agencies.