Car insurance is one of life’s necessary services to have. If you have an accident and find yourself without car insurance that can be a financial devastation to handle. When you have coverage, it protects us from these hardships that could ruin us. So if an unexpected accident happens and we have sufficient coverage, the premiums that we have been paying over the years, will finally pay off. There are different kinds of coverage when it comes to car insurance.
1. Bodily Injury. This is required by most states to carry. It’s the minimum amount that is required by law. If there is an accident and the injured parties exceed the amount that your policy covers, you will have to shall out the rest.
2. Underinsured/Uninsured Motorist. This is when the party that is at fault has no insurance or not enough coverage to substantially pay for your injuries, this can be added on to theirs.
3. Med Pay. This insurance covers certain amounts of medical bills when an accident occurs. If you don’t have health insurance, this is very important to have.
4. Rental Car. If your car has been in an accident, this covers for a rental car. This is great, if your car is still being repaired, you have a car to get back and forth with.
5. Towing. This pays for the towing of your car if it breaks down.
It’s always best if your budget allows to have full coverage if possible. Many people have had minimum, been in an accident, and then realized how expensive it is for repair bills. Always research and find out what is the best car insurance policy for you. There are many reputable companies out there, which can give you the full coverage and be affordable.