Insurance and You

home insurance Waterloo IA Every year, more cars and drivers hit the highways. With so many vehicles on the road, accidents can happen. Automobile insurance can make the difference between a minor setback and a major trial. How can you determine what insurance you need and how you can buy it? Insurance requirements vary by state/province, but typically include the following: Liability: It pays for damages due to bodily injury and damage to property that you have caused. Damages from bodily injury include medical expenses, and lost wages. Property damage includes car repair costs and loss of property use. It can also cover your defense and court costs if you are sued. Recommended, higher levels of liability insurance are available that take care of more than the lower, state-mandated varieties. Personal Injury Protection: Personal injury protection pays for hospital bills and other medical treatment for you or your passengers, no matter who was at fault in the collision. It is commonly referred to as no-fault coverage. It may also pay for lost earnings, service replacement and funeral expenses. The minimum amount of this insurance is typically set by the state. Medical Payments: Medical payment coverage can be purchased in states that are not considered no-fault and will pay regardless of who is responsible for an accident. This insurance will pay for all insured person’s reasonable and necessary medical or funeral expenses for bodily injury from an accident. Collision: Pays for damages to your car caused by a collision. Comprehensive: This kind of insurance covers any non-collision damages. This may include weather damage, vandalism, and theft. Uninsured Motorist: Many drivers are ignoring the law by driving without purchasing the right amount of insurance. This insurance will cover you if you are in an accident with one of these irresponsible drivers. Under-Insured Motorist: Pays for collision expenses when a driver with insurance is in an accident caused by another person who does not have enough liability insurance to pay for the total amount of the damages. Emergency road service, car rental, and other types of car insurance can also be purchased. Your car insurance payments vary by company and will depend on several factors, including: *Your selected coverage *Your vehicle’s make and model * Whether or not you have been in an accident * Your age, gender and marital status * The place where you live Many people think they can get by without car insurance, but it is honestly something you don’t want to live without. Review your needs, research your options, and with the guidance of your insurance agent, choose the option that best suits you.