Types of Auto Insurance Coverage

Life is to short… yes it’s true. We don’t have any idea when will the Creator take the life He given us. We don’t know when the unfortunate events, such as accidents, would strike. Accidents, particularly road accidents, happen in different states almost everyday. Here are the different types of auto insurance coverage that is right for you and your family.

You must carry auto insurance to protect yourself and your car. For those same reasons, the government also requires you to have car insurance.

In the state of Florida, there are minimum requirements that they require you to carry – the property damage and personal injury protection. Property damage covers another person’s vehicle if you are at fault in an accident. Personal injury protection covers 80% of medical expenses and 60% of loss wages as well as up to a five thousand dollar death benefit for you and your relatives that reside with you, minus the deductible if it applies. This coverage would protect you in case there is any damage to other vehicles and gives you medical coverage for yourself.

You can select from the different type of auto insurance coverage. Well it depends on what you want to be covered and what you can afford. Besides the minimum requirement coverage previously mentioned, there is another type of coverage that is very important, bodily injury.

The state of Florida doesn’t require you to have bodily injury coverage until you get into an accident. This would cover you if you were at fault in an accident and the person in the other vehicle suffered injuries exceeding their personal injury coverage. The other party has the right to see and the state may place a financial responsibility on you motor vehicle report that would last for 3 years, if you did not have this coverage. That financial responsibility is called SR22.

Another coverage is the uninsured motorist. It covers you if the other party was at fault and you were injured exceeding personal injury coverage and they didn’t have bodily injury coverage. You may see this kind of coverage to cover the difference of your injuries.

The two more important types of coverage that you might want to consider are the comprehensive coverage and the collision coverage.

Comprehensive coverage would cover your vehicle in the event of fire, theft, vandalism, hail storm damage or any natural causes minus the deductible you agreed upon purchasing your insurance. On the other hand, the physical damage to your vehicle, if you were at fault in the accident, minus the deductible, would be covered by the collision coverage. The insurance company would pay the actual cash value of your vehicle. Comprehensive and collision coverage are possibly required by your lending institution if your vehicle is financed.

Extra medical payment coverage can also be provided if you are interested. There are many types of coverage to choose from. With the help of the web, you have a vast amount of knowledge at your fingertips to help you choose the best coverage for you and your lifestyle.

All types of coverage are important, but it still depends on what you can afford. But then, having an insurance must be one of your main priorities, knowing that your life and your family are much more important than anything else.