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What is Auto Insurance?

Auto insurance is required in almost every state throughout the country, making it important to research different policies before settling on one. No matter which plan you pick, the insurance will act as an agreement between your insurance company and yourself if there is an accident. 

The best way to look at auto insurance is to dive into what packages appeal to you most. Like many other personal insurances, auto allows you to choose which coverages you want to pay for and which you do not. A few options you can choose include collision coverage, comprehensive coverage, roadside service, transportation expenses, new auto security, better vehicle replacement, med pay, and auto plus bundle. You can take a more in-depth look at these optional coverages after the benefits section below.

The Benefits of Personal Insurance

It is safe to say that auto insurance is by far one of the most important insurance policies a person can carry. With more than 6 million car accidents happening each year in the United States, the chances of you or your loved ones needing car insurance are much higher than many people realize. Those who decide to forgo the insurance and end up in an accident typically see average property damage costs of $9,000. For the unlucky ones that have disabling injuries, the costs could reach as high as $80,000.

With an auto insurance policy, your finances will be protected from any unexpected expenses incurred by an accident. Some policies will also provide an extra layer of protection from liability lawsuits that could save you thousands of dollars in the long run.

Collision Coverage

As an elected coverage option, the collision coverage provides protection if you are found responsible for damaging your vehicle while operating it. If there is damage to the vehicle, a deductible will need to be paid by the policyholder, which can range from $250 to $1,000. After the deductible, the insurance company will pay the remainder of the bill to have the vehicle repaired.

Comprehensive Coverage

One of the biggest causes of accidents on the road occurs from things outside of the driver’s control. The comprehensive coverage is an option to add to your auto insurance to help protect from these unexpected occurrences. Under this coverage, the owner would be insured for instances such as hail damage, hitting an animal, or damage from falling debris.

Roadside Service

For individuals who always find themselves on the go, the roadside service coverage provides coverage when you get a flat tire or find yourself stranded on the highway and need help with your vehicle.

Transportation Expenses

One of the worst things about an accident that requires your vehicle to be in the shop is the inability to travel. With this coverage, you will be given a rental car until yours is properly fixed.

New Auto Security

Not as common as other coverages, the new auto security coverage is a specific product for individuals who have recently bought a brand-new car from a dealer. With this policy, the driver can receive a new similar model vehicle if their current automobile is totaled in an accident.

Better Vehicle Replacement

Much like the new auto security plan, the better vehicle replacement coverage will allow you to obtain a vehicle of the same model as your current one, with 15% fewer miles if your current car is totaled.

Med Pay

The med pay coverage gives a little peace of mind to policyholders. It helps pay medical bills, ambulance rides, and death benefits regardless of who caused the accident.

Auto Plus Bundle

The auto plus bundle is a great way to package coverage into one plan at a low price that will allow you to get diminishing deductibles over time.

To find out more about auto insurance, talk with one of our agents. Give us a call at (920) 349-9700 and get a free quote.