What You Need To Know About Car Insurance…
Here is a list of the basics of car insurance and finding auto insurance for your vehicle. Car insurance can be a confusing transaction with so many different kinds on the market. The fact that some types of insurance have deductibles, while others do not adds to the confusion. If people do not understand the differences, they are dependent on insurance agents or brokers to decide what they need.
Auto Insurance in Different States
Most states require drivers to carry liability car insurance , so it is not usually optional. A financial institution with a loan on a vehicle normally requires full coverage insurance on the vehicle until the loan is paid. Liability, collision and comprehensive insurance constitute full coverage. Aside from these two scenarios, insurance for automobiles is optional to protect you.
Car Insurance Agents
While the majority of car insurance agents and brokers are honest, some get a commission on the amount of insurance they sell tempting them to sell you coverage you do not need. A brief breakdown of the most common types of coverage for cars will help you determine your needs. Understanding what car insurance is makes you an informed consumer and that knowledge gets you the best insurance at the best rates.
Liability Insurance vs Collision Insurance
Liability insurance has no deductible and does not cover you, your passengers, or your automobiles . It is to protect the other driver from property damage and bodily harm if you are at fault. Collision insurance covers you, your passengers and your vehicle. It has a deductible you must pay before the insurance company pays anything. The consumer decides the amount of the deductible.
Comprehensive Car Insurance
Comprehensive insurance also has a deductible chosen by the insured and pays for injury or damage caused by almost everything else but a wreck. Uninsured motorist has no deductible and protects people from other drivers that cause an accident, but do not have insurance.
Other types of Car Insurance
Liability, collision, comprehensive and uninsured motorist are the most common types of auto insurance . There are two other types of insurance that are not as common, but many people find that it is worth the cost, which is car rental and emergency road service.
Car rental pays you to rent a car if yours is in the shop because of an accident and has no deductible. It is worth the cost if you have only one vehicle. Emergency road service has no deductible and pays a technician to fix automobiles along side the roadway. If it is not fixable, it pays a tow truck to take the vehicle to the nearest garage or dealership.
Shop around for Basic Car Insurance
When you need to purchase car insurance , it is in your best interest to shop around. The easiest way to do this is use an internet comparison site to narrow down a list of insurance companies that insure cars . You should look for an established company that is financially stable with a high rating in customer satisfaction.
Car Insurance Basics for when you’re in an Accident
If you have an accident, you need a company that responds quickly to assess damage, process claims, and pay claims in a timely manner. Most companies that have a high satisfaction ranking possess these qualities. The responsibility of an insurance company is to help drivers get their cars repaired as fast as possible.
There are many insurance companies to purchase insurance from; however, several stand out above others based on several factors. Insurance companies overall rating takes into consideration how an insurance company performs based on financial stability, service and response, customer satisfaction, available policies, quote options, discounts offered, payment options and cost.
The Basics on the best auto insurance companies
Rankings differ according to the source of information that is used, but generally the top rated auto insurance companies are State Farm, Allstate, Farmers Insurance, Liberty Mutual, Geico, Progressive, American Family Insurance, Nationwide, and the relatively newcomer Esurance.