Financial Security and Your Insurance Policy

There are more cars hitting the road every year. As this number increases, the possibility of accidents also increases. The difference between a small aggravation and major pain can be car insurance. So how can you figure out what insurance you need and how much you should buy? Mandated coverage varies by state/province but usually includes the following: Liability: Pays for damages due to personal injury and property damage to others that you are responsible for. It can also cover your legal fees if you are sued. Recommended, higher levels of insurance can be purchased that take care of more than the lower, state-mandated insurance. Personal Injury Protection: Personal injury protection pays for all medical treatment for you or other people in your car, no matter who was responsible for the collision. It is sometimes called no-fault coverage. State law usually sets minimum amounts. Medical Payments: This type of coverage is available in non-no-fault states and will pay no matter who is responsible for the accident. If you purchase this type of coverage, you will receive payment for necessary medical or funeral expenses. Collision: This pays for damage to your car caused by an accident. Comprehensive: This type of insurance protection covers all damages not caused by a collision. This may include weather damage, vandalism, and theft. Uninsured Motorist: This pays for damages when someone with insurance is injured in a crash caused by a driver who does not have liability coverage. Under-Insured Motorist: Similar to uninsured coverage, this type of insurance covers you from people driving without enough insurance protection. Other types of car insurance, like car rental, can also be purchased. What you pay for auto insurance varies by company and will depend on multiple factors, such as: *Your selected coverage *Your vehicle's make and model * Your driving record * Your age, gender and marital status * The place where you live Many people think of auto insurance as a necessary evil, but it can rescue your finances. Review your needs, do your research , and with the guidance of your insurance agent, choose the option that fits you best. Car Insurance Groveland