It is a part of our everyday life but, until it comes time to pay the bill each month, we rarely give it a thought. Car Insurance, however, is an essential part of our everyday lives. It is a complicated and potentially dangerous world to drive in–without insurance, that potential for danger is greatly intensified. For instance, if you are in an accident in your car but do not have insurance, you are up to the proverbial creek without the proverbial paddle.
But what is car insurance? Well, according to Allstate Insurance (one of the leading providers of insurance in the world), car insurance is a way to “protect the people and things that are important to you.” Allstate also breaks down what insurance does for you:
- Safeguard your investment in your automobile
- Pay for medical expenses in case of an accident
- Provide financial protection from lawsuits
- Cover losses caused by uninsured or underinsured drivers
- Pay for damage due to theft, vandalism or natural disasters
When looking into what coverage to buy, consider your specific needs and research the different kinds of coverage and their meanings:
Liability Coverage: protects you from damages to others if you are at fault.
Medical Payments Coverage: if bodily injury occurs, this can provide you with reasonable medical assistance.
Underinsured/Uninsured Motorists Coverage: protects you from damage caused by drivers who don’t have auto insurance or don’t carry enough auto insurance to pay for damages.
Personal Injury Protection: provides coverage for an insured person for certain reasonable and necessary expenses
Collision Coverage: helps pay to repair or replace your insured car. Comprehensive Coverage: helps pay for covered damages to your insured car resulting from a peril other than a collision: theft, flood, fire, or any other problem.
Once you decide on what coverage you need, you can purchase insurance; please, do not think you don’t need it–it is a foolish way of thinking. Even if you have never had an accident, that does not mean that everyone else on the road shares your clean record. You need to protect yourself and others. Research the insurance and then get some!