Valley Business Connections

Financial Security and Your Insurance Policy

We see more cars on the road every year. As this number goes up, the possibility of accidents also goes up. Automobile insurance can make the difference between a small setback and a major trial. How can you decide what type of insurance you require and how to buy it? Coverage requirements will differ by state/province, but usually include the following: Liability: Personal injury and property damage that you have caused will be covered under liability insurance. Bodily injury damages can include medical expenses, lost wages, and pain and suffering. Property damage includes car repair costs or loss of property use. It also covers your defense and court costs if you are sued. State laws usually require minimum amounts, but larger amounts can be purchased and are extremely helpful. Personal Injury Protection: This type of insurance pays for hospital bills and other medical treatment for you and other people in your car, regardless of who was at fault in the accident. It is commonly called no-fault coverage. The minimum amount of personal injury protection is typically set by local government. Medical Payments: Medical payment coverage is available in non-no-fault states and will pay no matter who is responsible for the accident. If this type of coverage is bought, the insured person will receive coverage for necessary medical and funeral expenses. Collision: Damages resulting from a collision will be covered under this kind of insurance. Comprehensive: This kind of insurance protection covers any damages not caused by a collision. This may include hail damage, vandalism, and theft. Uninsured Motorist: If you are hit by a driver without insurance or a hit-and-run driver, this type of insurance coverage will make sure you are covered. Under-Insured Motorist: Just like uninsured coverage, this kind of insurance covers you from people driving without enough insurance coverage. Other types of car insurance, such as emergency road service, are also available. Your car insurance payments vary by company and will depend on multiple factors, such as: *Your desired coverage *Your vehicle's make and model * Whether or not you have been in an accident * Your age, gender and marital status * Where you live Many people think of car insurance as a necessary evil, but it can rescue your finances. Review your needs, do your research , and with the help of your insurance agent, choose the option that fits you best. Car Insurance Quotes Clermont

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