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Articles
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| Understanding Your Auto Insurance |
plugnprofit writes, "Reading auto insurance policies can be like trying to
decipher advanced calculus. It's really not that
difficult if you understand a few basic terms.
Collision, Comprehensive, Bodily Injury Liability and
Property Injury Liability are the main terms you need
to fully understand.
"
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Reading auto insurance policies can be like trying to
decipher advanced calculus. It's really not that
difficult if you understand a few basic terms.
Collision, Comprehensive, Bodily Injury Liability and
Property Injury Liability are the main terms you need
to fully understand.
You'll appreciate Collision Coverage in the event you
need repairs or replacements if your vehicle collides
with another vehicle or property. The higher the
deductible you elect, the lower your premiums will cost
you. If you're at fault for something, well of course
it would still be an accident, as I doubt you'd plan to
run into that guard rail, but how much would you be
able to afford to pay out of pocket for repairs? $250?
$500? $1,000? Just like medical insurance, you'd have
to pay that deductible amount first and then the
insurance company would pay for the remaining charges
for the repair.
Another term to become intimately familiar with is
Comprehensive Coverage. This is the coverage that pays
for damage caused from falling objects, fire, certain
natural disasters, theft and vandalism. Deductibles
work the same way as with Collision; the more out of
pocket costs to you, the less your insurance premium.
In addition to knowing how much Collision and
Comprehensive coverage you have, you'll want to know
about your liability coverage. Let's say you rear-end
another driver. Or your foot slips off the brake onto
the gas pedal and you plow down a mailbox. Your
liability coverage will kick in and pay for the damages
that you caused with your insured vehicle. You
liability coverage will, or could, include bodily
injury (people) and property damage.
You don't want to go without Bodily Injury Coverage.
If you were at fault in an accident and others involved
needed to go to the hospital and/or lost wages from
missing work, those costs would come out of your pocket
if you are not insured with Bodily Injury Coverage. It
doesn't take a genius to know how quickly those amounts
can add up. This type of coverage can also help you in
the event the other party takes legal action against
you. Many states require you to carry Bodily Injury
Coverage.
The other part of liability includes Property Damage
coverage. Can you imagine how much it might cost should you accidentally drive into the side of someone's home? You wouldn't want to be caught without property damage insurance should you need to pay for repairs to another vehicle, building or anything else you might hit. As with Bodily Injury coverage, Property Damage coverage also helps protect you in the event of a related
lawsuit.
Every policy will have its limits and various degrees
of coverage. It's important that you understand the
basics of what you are paying for and why it is
necessary. No one plans for an accident, be
prepared!
Ed Johnson
About The Author:
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Not long ago, I didn't know ANYTHING about Internet marketing... However, within just 2 weeks, I launched my own website AND learned how to profit from an opt-in list, pull in sales with ezines, make money with Google Adwords and setup my own BLOG! Here's how: http://www.PlugInProfitSite.com/main-10172
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Posted on Oct 23, 2005 15:35pm.
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