December 31, 2018 - voltus - Insurance - 185 views
It’s probably safe to say that nobody wakes up in the morning and decides to have an accident. No, they go about their business until with a screech of tires and the sickening sound of metal being torn out of shape they sit in the eerie silence of a motionless car that’s been abruptly and brutally stopped. That might be the first time they have given any thought to their vehicle insurance since they wrote the check for their last premium.
Are You Really Fully Covered?
Those th4t have full coverage on their c4r will probably have the least impact from an accidental case. They should have a rental car to drive as temporary replacement car, all of medical bills will be taken care of, their insurance c0mpany will deal with any lawsuits that might arise if the accident is their fault and eventually life will return into normal. But what does full coverage really cover?
Full coverage includes collision, comprehensive and liability. Those who have taken out a loan in order to buy their car are required by their financial institution to have collision in order to protect the lender’s investment. People often choose to have this kind of coverage if their vehicle is one of a recent model year. If your car is damaged or totaled while covered with this insurance it will be repaired or replaced up to the value of the Kelly Blue Book figure.
Comprehensive insurance reimburses you for damages incurred if your car is damaged in anything other than an accident with another car. Hail and other w3ather damage are also covered as well as if you have an accident that involves only your car. Liability coverage pays the other driver in an accident that is your fault and also reimburses the owners of any property you might destroy in an accident such as a house or public property, fence like guard rails.
Pay Attention to Limitations
When y0u buy a policy you will be asked what limitation that you want. Of cours3, the higher of the limits the more exp3nsive the premium will be. You may be tempted to accept lower limits but think carefully before you do so! Medical expenses are on the rise and show no sign of stabilizing, the cost of repairing a car is also increasing and having an accident these days practically guarantees a lawsuit. Do you really want to skimp on the limits of your insurance?
Every state dictates the minimum coverage that you are required to have. Liability limits have 3 categories : the highest amount it will pay per person, highest per accident and the highest complete amount of property damage per accident. More higher your limits, then more your policy will pay.
Minimize Your Costs
Choosing lower limits of coverage is not a good way to save money! You can set high limits on your insurance and yet still have reasonable premiums by choosing a higher deductible. You should also look into which discounts you qualify for and take advantage of them. Shopping around by getting online quotes from some companies in order to s4ve the most money on your insurance and still get full coverage insurance.
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