Matt Domian : I am having a problem understanding what are the coverages for auto insurance policy? If I do not know the coverages how can I compare auto insurance quotes or review auto insurance coverage ?

Response : Matt, this is a very good question. Let me explain the basic coverages and then I will give you an idea as to what to compare. A  basic auto insurance policy is made up of five different kinds of coverage:

1. Bodily Injury Liability
2. Property Damage Liability
3. Medical Payments Coverage or Personal Injury Protection
4. Uninsured & Under insured Motorist Coverage
5. Physical Damage Coverage (Collision and Comprehensive)

Depending on the state where you live, you will find difference as to what is the legally required minimum coverage that you need.

All states require that you have some form of liability insurance when operating a motor vehicle. The basic insurance policy covers Bodily Injury Liability and Property Damage Liability. These coverages provide protection if you are found legally responsible for the injury or death of another person resulting from a car accident. Minimum auto insurance policy coverage amounts vary from state to state.

Medical Payments (or “Med Pay”) is an optional coverage that covers medical expenses for you and your passengers if injured in an accident (regardless of fault). Some states require that you carry Personal Injury Protection (a broader form of Med Pay that may include income replacement and disability benefits). Like Bodily Injury Liability, the amount of Med Pay you can purchase also varies from state to state.

Physical Damage Coverage, which is also optional, includes Collision and Comprehensive coverage. Basically, these two coverages protect your own vehicle from fire, theft (including contents), vandalism, or an upset with another vehicle or object – how much or how little you get depends on the value of what you’ve got.

Uninsured & Underinsured Motorist Coverage protects you and your passengers from people driving around with little or no insurance (or hit-and-run motorists). This coverage is required in many states.

Now let me tell you what to companre- first you will compare the coverages offered by the different companies for the same limits and compare the auto insurance rates and final premium charged by each one of them. Once, you have done this compare the other benefits given by each one of them – any additional coverages or services like road service, any electronic monitoring device for free. Last but not least compare the service reputation of the inusrance company. Many people worry about the stability and economic standing of the insurance company, however, this should not be a concern for the customer since the insurance regulatory bodies take care of this. Review auto insurance coverage and choice the right option for yourself.

Neveda: How does one conduct car insurance comparision?

Response: Compare the pricing of auto insurance by using online quotes from various auto insurance companies. Depending on how the companies calculate the premiums you pay, these prices can vary significantly. They use your vehicle’s make, model and year as well as your driving history and age to determine your cost. These factors can weigh differently on your premium from one company to another. When price shopping, make sure all of the quotes are for the same amount of coverage. Lowering your deductibles will increase your overall costs. Each quote will be different, so pick the one that best suits your needs financially as the coverage should be quoted in the same amounts.

•Bodily Injury, Property-Damage Liability and Personal-Injury Protection:Determine the minimum coverage needed in your state. Bodily injury and property-damage liability are the main types needed for an auto insurance policy, but requirements vary by state. These two coverages protect the other drivers and people involved in an accident. They generally cover the same things regardless of which company, so be wary of their cost and how they affect your overall insurance cost.

Compare personal-injury protection costs. In a no-fault state, this coverage will pay for your hospital bills and funeral costs as well as those of anyone involved in an accident, including pedestrians, regardless of fault. See whether the insurance you are comparing includes money for lost wages so that you can compare each policy on the same level.

Comprehensive and Collision
Add and compare collision and comprehensive coverage pricing. These two coverages are for damage to your vehicle. Each company calculates its cost differently. The standard required deductible for a car that is bank-owned is $500 for each. You will pay the first $500 of each in the case of an accident where your vehicle is damaged or when your vehicle is damaged by weather or occurrences that are not considered accidents. If your vehicle is stolen, your comprehensive coverage will pay for a replacement vehicle minus the $500 deductible.

Review your auto insurance from time to time.

Reader : What are the best liability policy limits? How do I reveiw car insurance coverage to get best auto insurance limits?

Review car insurance coverage for auto insurance limits. Frank New York

This is a very interesting question. When you want to know whether you have the optimum auto insurance limits, you will have to review car insurance coverage and compare auto insurance quotes. These are the two biggest tools that will help you save $, your hard earned money. There are certain liability limits which mandatory limits are fixed by the state.  The minimum limits of New York limits are sometimes together referred to as “$25,000/$50,000/$10,000” or “25/50/10 “. Most of the insurance agents would advise that the minimum policy limits for car insurance liability are not sufficient. The normal rule of the thumb adapted by the agents and insurance professionals for the average driver is 100/300/100. This means that:

• 100,000 per person for bodily injury
• 300,000 per accident for bodily injury
• 100,000 per accident for property damage

When deciding on the limits since the medical treatment cost is fairly same, the last limit of property damage would be best for a person who is not an average driver. Property damage is damage t the other car or landscape. This portion of liability would vary from place to place and depending upon the property damaged.

It is interesting to note that the courts sometimes award very high amounts of liability costs. Please consider carefully your own and your families driving skills and financial stability before deciding on the auto insurance. Review car insurance coverage and compare auto insurance quotes and save money.

Good question. Thanks.

Best wishes.

Kamlesh

Related Blogs

• Japan Power & Auto Bigwigs Link for Quick-Charge Tech
• Consumer Reports Annual Auto Issue: The Good, The Bad, And The …
• Pennsylvania Insurance Department: Auto Policy Premiums Likely …
• Car Insurance Coverage – Consumerism Commentary
• Experiment as a One Car Family
• DIY Car Care Tips For You | Car Care and Protection
• Reducing Abortions by Expanding Health Coverage « The Washington …
• Hoover's Launches New Platform and Nearly Doubles Coverage …
• Erin Andrews Dancing With Dick Vitale Isn't That Impressive …
• Ladies Of March Madness: Kari K. Is The Florida Volleyballer …