Insure Your Future

Insure Your Future

Auto Insurance – Why You Can't Afford To Go Without Car Insurance

by Sue Palmer

If you own a car, you need auto insurance. It is that simple. Unfortunately, it isn't enough to simply have car insurance. You need to make sure you have the right kind of coverage to meet your needs. These are a few basics about auto insurance that will help you make better-informed choices when buying insurance protection for your vehicle.

Liability-Only Auto Insurance

If your car is paid for and you owe no money to a bank or other lender on your vehicle, you may elect to purchase liability-only insurance. This coverage offers protection if you are in an accident and cause damage to someone else's vehicle, property, or person (bodily injuries). It does not provide any protection for your vehicle and will not pay for any damage or repair to your vehicle, nor will it pay for injuries you sustain in the accident. It costs considerably less than other types of insurance but places the costs of recovering from an accident and repairing your vehicle squarely on your shoulders.

Comprehensive and Collision Coverage

These are two different types of auto insurance protections. Collision insurance offers protection against damage from your vehicle sustained in a collision with other cars, objects, etc. Comprehensive coverage protects against non-collision damage to your vehicle caused by things like theft, vandalism, and acts of nature. Both are required if you owe money to a lender for your vehicle. However, because automobiles depreciate, or lose value, so quickly, you may need what is called gap insurance to provide further protection in a total loss so that you do not find yourself owing money on a vehicle that is beyond repair.

Non-Insured Driver Insurance

While most U.S. states have laws in place that require vehicle owners to purchase auto insurance, there remain many who do not. Suppose you are in an accident involving another vehicle that is not insured. In that case, you could find yourself paying for the damage these vehicles cause to your body, property, and vehicle out-of-pocket if you do not have this important auto insurance protection.

Ultimately, auto insurance protects you from financial devastation in the aftermath of an auto accident. Accidents are disturbing enough without facing financial disaster as a result. The right insurance protection can be a lifeline in the days and weeks following an accident. Work with a trusted insurance agent to determine the right types of auto insurance protection for your needs and to ensure you have the right amount of coverage for your comfort zone as well.

For more information on auto insurance, contact a professional near you.


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Insure Your Future

Purchasing insurance — the right insurance — is one of the smartest things you will ever do. While there are definitely differences between homeowners, car, life, and health insurance policies, they all serve the same purpose when it comes down to it. Insurance protects you against financial ruin should a tragedy happen in your life. In the case of homeowners insurance, that tragedy could be a fire or a flood. In the case of life insurance, that tragedy would be your death. The more you learn about insurance, the better the decisions you'll make when purchasing it. So dive into the articles here, and start reading.