Types of Car Insurance – Good to go insurance company

types of car insuranceMany people shopping for car insurance only think of liability coverage or comprehensive. The reality is, there are several types of car insurance choices you can get, depending on your own particular needs or circumstances. If you are getting ready to buy an auto policy, take a few minutes to inform briefly yourself of the options that are available to you, as well as the pros and cons.

Liability Coverage

Liability is probably the most common type of automobile coverage. At its core, liability insurance will pay for repair damages you cause to the other party’s vehicle, as well as medical costs associated with an accident you were determined to be at-fault for. The main reason it is purchased more than any other type is the price. The cheapest auto insurance you can buy is liability only, with minimal amounts of coverage.

Most states mandate liability insurance for anyone who operates a motor vehicle. Some states like Florida have really low limits while other states like Texas have increased their legal liability minimums in recent years. It is important to know that if you get this basic coverage, you may be putting yourself at risk if you only carry the state minimum amounts of coverage.

For example, if you get into an accident that causes $100,000 in medical bills to the other party. But you only carry a $50,000 liability policy for healing, you could be held liable for the balance and sued in court. Buying only liability insurance makes sense if you are on a super tight budget and have limited personal assets. Many people who have old cars they don’t drive much also get this coverage. Get a free quote today and compare the lowest rates in your area.

Collision Coverage

The next level of enhanced auto insurance is “collision”. Whereas a liability, the policy will not cover repairs to your car after you caused an accident, collision coverage will guarantee repairs will be made to your car, even if you are at-fault. If you have invested a lot of money in your vehicle, then you should protect yourself financially by getting more coverage.

Having collision insurance will give you the funds to fix you car after a crash and give you greater peace of mind when you are driving. With this type of automobile coverage, you will also be reimbursed (or the lienholder) if the vehicle is totaled, as a result of an accident. If you are leasing or financing your car. This type of ins will be mandated.

Comprehensive Coverage

Think of comprehensive insurance as protection against anything that could happen to your car not resulting from a vehicular accident. Comprehensive coverage includes thousands of possible scenarios like a fire, hail, animal jumping onto your windshield, flooding, graffiti and so much more.

If you live in a high crime area and you have an expensive car, then you should seriously think about adding this type of coverage. Most comprehensive policies cover auto thefts, but always make sure you read your policy in full, to ensure you are adequately covered.

A simple way to lower the premiums on this coverage is to get a higher comprehensive deductible of $1,000. People on a tight budget who need full coverage but have limited funds can find instant savings by getting the highest deductible available.

If you have a car that is worth $7,000 or less, it might not be financially smart to get this added coverage. It is not worth to add the coverage because you will be paying for costly policy on a car that is depreciating by the day and not worth much in the first place.

Uninsured Motorist Coverage

Today, almost 15% of drivers on the road are not covered at all. In some areas of California, it’s estimated that 1 in 4 vehicles are not insured. This bad news means that if one of these uninsured drivers recklessly hits your car, you are out of luck, unless you carry this type of coverage. Uninsured motorist will protect you when another driver causes an accident and has no insurance.

This insurance is also a sort of safety net when the other party who caused the crash has limited insurance that does not sufficiently pay for the damages you sustained. This type of policy will “kick-in” after the other drivers coverage amounts have been exceeded. For the ultimate protection, uninsured auto insurance is great to have. The only drawback is, of course, the added expense.

Shop now for the cheapest types of car insurance online. The quote only takes about five minutes to fill out, and most customers report savings of $500 or more. Qualify for instant online discounts and save even more. Get started today and get the best coverage at very affordable rates.