Types of Auto Insurance Coverage
Understanding what different types of auto insurance coverage mean
and knowing which types and levels are required is essential for low
cost insurance that meets Your needs.
- Standard Liability Insurance Coverage
- Bodily Injury Liability
- Property Damage Liability
- Collision Insurance
- Comprehensive Insurance
- Medical Payments Coverage (Med-Pay)
- Personal Injury Protection (PIP)
- Uninsured Motorist Coverage
- Underinsured Motorist Coverage
- Endorsement Coverage
- Daily Car Rental Reimbursement
- Towing and Labor
- Auto Replacement
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Or Basic liability coverage is required in almost all states, and
is the most important type of coverage. It's made up of two policies:
Bodily Injury Liability - protects you from claims made against
you which you are obligated to pay if you cause bodily injury to person
in a crash. The costs of injuries, medical treatment, suffering and
lost wages may be significant, so You may consider carrying more than
Property Damage Liability - covers You for
the amount of property damage You've caused in a crash.
Liability insurance minimums are usually stipulated as three numbers
such as, 20/40/15.
What does it mean?
- First number : amount limiting payments to a single person
- Second number : maximum payment for all injured persons
- Third number : property damage liability maximum for one
Covers damages to your vehicle by collision with another vehicle or
fixed objects, regardless of who is at fault. This type of insurance
is optional (except if Your vehicle is financed). Dropping collision
coverage for old car is an option if You want to save on auto insurance.
Another optional insurance that covers damage to Your vehicle for anything
else: fire, weather, natural disasters, vandalism, auto-theft, e.t.c.
If You're not dropping comprehensive coverage in order to lower auto
insurance, consider picking higher deductibles.
Medical Payments Coverage
Covers medical expenses from your crash injuries and covered persons
in your car, no matter who was at fault. Read our Affordable
auto insurance tips to learn how to save on this and other types
Personal Injury Protection
Or No Fault insurance. Pays for medical and rehabilitative
expenses, compensation for loss of services, funeral expenses and replacement
services incurred by you, members of your family, passengers in your
vehicle, and pedestrians injured by your vehicle as a result of an accident,
regardless of who was at fault for the accident.
Basically, You file a claim to your insurer, You don't go for another
driverinvolved in an accident.
No fault insurance is available in DC, FL, HI, KS, KY, Mass, MI, MN,
NJ, NY, ND, PA and UT. Check auto
insurance law requirements for all states.
Uninsured Motorist Coverage
Protects You from uninsured drivers. It pays damages for bodily injury
or death caused by an uninsured or hit-and-run driver who is legally
responsible for the accident.
This type of insurance combined with Underinsured Motorist Coverage
is important and we recommend You allways add those two as a part of
Your policy! There are many drivers without auto insurance coverage,
and if one of them causes accident, without Uninsured/Underinsured Motorist
Coverage You will not be reimbursed.
(Required or not available in some
Pays damages if You are injured in an accident caused by insured driver
whose liability insurance limit is insufficient to cover the losses
Very similar to Uninsured motorist coverage insurance.
Set of many small optional coverages, such as:
Towing and Labor Coverage - pays Your expense
ups to have your vehicle towed or for roadside labor to repair your
auto if it's disabled on the road.
Daily Car Rental Reimbursement - covers expenses
that you may incur following an auto accident. While your car is being
repaired, You may need to rent a vehicle, and you'll get flat sum to
cover it at some companies.
Auto Replacement - guarantees Your car will
be fully repaired (or even replaced) even if these costs exceed it's
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