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Cheap Car Insurance

Car insurance has two major components: collision and liability. Collision coverage pays for damage to your car when your car hits, or is hit by, another vehicle or other object. To keep your premiums low, select as large a deductible as you feel comfortable paying out of pocket. For older cars, consider dropping this coverage, since coverage is normally limited to the cash value of your car. For example, if the 6 month premium for the collision piece of your automobile insurance totals more than the book value of your car it most likely makes logic not to purchase it.

1. Bodily injury liability provides safety if you injure or kill someone while operating your car. It also provides for a legal refutation if another party in the accident files a case against you. In the event of a serious accident, you want enough insurance to cover a assessment against you in a lawsuit, without threatening your personal assets. Bodily injury liability covers injury to people, not your vehicle. Therefore it’s a good idea to have the same level of coverage for all of your cars.

2. Property damage liability protects you if your car insurance amends someone else property. It also provides you with legal defense if another party files a lawsuit against you. It is a good idea to leverage enough of this insurance to cover the amount of damage your car might do to another vehicle or object.There are other subsets of auto insurance that vary from state to state.

3. Uninsured motorist’s coverage pays for your injuries caused by an uninsured driver or, in some states, a hit-and-run driver, in a crash that is not your blame. In some states there is also uninsured motorist reporting for damage to your vehicle. Given the large number of uninsured motorists, this is very crucial coverage to have, even in states with no-fault insurance.Medical Payments insurance is extra auto insurance that will specifically cover your medical bills that may not be covered by the other guys insurance or if you or your passengers are injured in a no fault accident. Personal Injury Protection (PIP) is similar to Medical Payments and is demanded in many states that don’t involve uninsured motorist insurance.

This entry was posted on Tuesday, May 11th, 2010 at 6:08 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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