Should You Only Get The Minimum Amount of Car Insurance?

KODE IKLAN YANG DIPARSE

KODE IKLAN YANG DIPARSE

Should You Only Get The Minimum Amount of Car Insurance?

There are many questions that people ask themselves about car insurance, and one is whether or not it is OK to carry just the minimum amount of insurance on a car. When you think about insurance, you have to remember that the reason that you have it is for the protection of the car as well as to protect those that ride in your car. There are minimum insurance requirements in every state, but you need to carefully consider whether those minimums are sufficient for your needs.

Liability coverage takes care of the needs of the other person and their car if you are the party that caused an accident. If you only have the minimum coverage and the car that was damaged is extremely expensive, your insurance may not cover the full amount and you will have to find a way to come up with the additional money. The same is true if there is more than one car involved in an accident that you caused. The upper limits of minimum car insurance may not be enough to cover all the costs of damage that may be incurred.

Property damage liability coverage can cover damage done by your vehicle to another vehicle or to property. This includes things like a store front if you accidentally hit the accelerator instead of the brake as you are parking and ram your car into the front of a store. It could be a cattle fence that your car slides into on icy winter roads. Either way, you want to have enough car insurance to cover the costs of these types of accidents.

Because many people only get the minimum amount of car insurance, many states require you to get underinsured motorist coverage and uninsured motorist coverage. This type of insurance helps to cover you in the case the other driver who caused the accident does not have enough insurance to pay all of the costs of damage to your vehicle or bodily injury. This type of car insurance covers not only you as the driver, but all of the passengers in your car whether they are related to you or not. If this type of insurance is not required in your state, you may still want to include it in your policy so that you know that you and your family will be taken care of properly in the case of an accident.

Collision insurance covers your car's damage when it hits something or is hit by something. Comprehensive insurance applies to anything that is not a collision, such as fire, theft or other natural causes. Both of these types have a deductible amount that you must pay before the insurance kicks in, and the lower your deductible is, the higher your premiums will be. This insurance is discretionary and is usually not required unless you have an auto loan from a bank. Then certain amounts of these types of insurance will be required.

As you can see, there may be times when having only the minimum amount of car insurance is acceptable, but there are other times when it more important to have adequate insurance than to have a lower premium.

KODE IKLAN YANG DIPARSE

Tweet