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Financial Security and Your Insurance Policy

We see more and more drivers on the road every year. As this number goes up, the possibility of accidents also goes up. The difference between a small aggravation and major obstacle can be the car insurance you own. So how can you find out what insurance you need and how much to buy? Insurance requirements will differ by state/province, but usually include the following: Liability: This kind of insurance coverage can pay for the damage that you have caused. These damages can include personal injury, and property damage. Damages from bodily injury include medical fees, and lost wages. Property damage can refer to damaged property or loss of use of property. It also covers your legal fees if you are sued. Recommended, more comprehensive levels of insurance can be purchased that cover more events than the lower, state-mandated insurance. Personal Injury Protection: Personal injury insurance is mandated in some states and is optional in others. Sometimes referred to as no-fault coverage, this pays the medical treatment for you or your passengers regardless of who was at fault. The minimum amount of this insurance is usually set by local government. Medical Payments: Medical payment coverage is available in states that are not considered no-fault and will pay no matter who is responsible for the accident. This insurance will pay for an insured person's reasonable and necessary medical and funeral expenses for bodily injury from an accident. Collision: Damages resulting from a collision will be covered under this kind of insurance. Comprehensive: Cover your vehicle from damages from other sources by purchasing this type of coverage. This may include protection from theft, vandalism, and fire or flood damage. Uninsured Motorist: Pays for damages when someone with insurance is in an accident caused by another person who does not have liability coverage. Under-Insured Motorist: Just like uninsured coverage, this kind of insurance protects you against people driving without sufficient insurance protection. Other types of coverage, like emergency road service, can also be purchased. State Farm Clermont