Auto Insurance Info
If you own and/or operate a motor vehicle, you need car insurance. The level of coverage you choose varies depending on state law, whether you have a loan from a lender and, of course, personal preference.
Automobile insurance is a variation of property and casualty coverage. Contingent upon the level of coverage you obtain, it will cover you for damages resulting from accidents that are caused by you to other vehicles and property, any damage to your own car and the all-important liability coverage for any injuries for which you might be responsible in an accident.
Basically, car insurance is for anyone who drives. It is not really relevant if own an automobile or not, for in all states it is required that all drivers have some level of coverage. If you were to operate another person’s car, it is your policy that covers you, not the other auto owner’s insurance.
Should you find yourself involved in some kind of accident, fender bender or a greater event that causes damage or injury, the first thing to do (after gathering the other driver’s pertinent information and taking photos for evidentiary purposes) is to file a claim with your insurance provider. An adjuster will then come out to evaluate the damage and, if you are properly covered, he or she will then determine the appropriate compensation. You could very well receive payment for any repair costs or, if your car is damaged beyond repair or “totaled,” you will most likely be issued a check for the insurer-assessed value of your vehicle. If your car is damaged by another individual, often it is incumbent upon you to deal with the other insurance company.
There are a few different kinds of auto insurance coverage and not all drivers will need to have full coverage of every type. The entry level coverage, which is what is mandated for drivers in virtually all states, is liability. This is the coverage that pays for damages caused by you to others in an accident. Collision is the kind of overage that compensates for damages to your own vehicle in a collision that will not be covered by other driver’s policy. Comprehensive coverage pays out for damage to your car resulting from non-vehicular events, such as extreme weather, theft, vandalism, etc. Other kinds of coverage that drivers might opt for include uninsured/underinsured motorist and personal injury protection.
The big plus in having good automobile insurance is that you will be protected in case you cause damage or injury to another on the road. If you also purchase collision and comprehensive, your own car is fully covered and this, also, means invaluable peace of mind.