Information About Automotive Insurance
There are many types of auto insurance cover, although the majority of the population probably think that insurance is just insurance, with little or no difference, besides the cost. Without decent information about automotive insurance, you may well find out too late, that you are in fact not covered as well as you thought.
Personal Cost.
If you are one of those people believing that you are the safest person on the road and, therefore need only the least insurance coverage available, you have missed the point.
You could be side-swiped by some drunk, traveling at far in excess of the speed limit. Or, some idiot chatting on their cell phone. Pick any dumb act on the road, these are your fellow drivers. Your driving record, accident free as it may be, will not protect you from fools.
Vehicle insurance cover at its most basic, is a legal requirement. This does not mean that you are going to be covered for every contingency you may be involved in.
If you have no insurance, even the most basic, you will probably find yourself incurring the cost of any medical needs of any third parties involved in the incident.
Your vehicle insurance cover should depend on your financial situation, as in, as much as you can afford. The basic insurance cover for cars can vary depend on where you live.
Let us imagine that you have just run into a parked car, do you know whether or not the minimum legal insurance covers you for this? Remembering that this legal minimum can differ from state to state and country.
Types of Auto Insurance Cover Categories
Vehicle insurance coverage basics usually available.
No-fault law.
Provided you have the basic minimum motor insurance required, you are covered if you are in an incident whether or not you are at fault. Personal injury coverage for your medical expenses for the first 'X' amount of dollars is determined by your insurance company.
Medical Only.
Medical covers medical costs to you and any passengers in your car suffering injury.
Bodily Injury Liability.
Bodily Injury Liability comes into play when there is injury or a death to any persons, inside or outside of a vehicle, with a vehicle you are the owner of. Apart from hospital and medical costs, rehabilitation, long term care, including but not limited to loss of income, are also covered.
Property Damage Liability.
This insurance covers you if you cause damage to someone's property other than your own, with your vehicle. Said property may be in the form of any type of vehicle, any part of a house or the property within it, such as fences, fountains, etc. Property Damage Liability and Bodily Injury Liability are usually combined, depending on your country.
Full Coverage.
This is a comprehensive auto insurance, where you are covered for practically all contingencies.
Uninsured Motorist.
Uninsured Motorist covers injuries to you and any passengers in your car, when the other motorist in the incident is at fault but does not have insurance or, lacks sufficient motor insurance coverage.
Too little auto insurance may ultimately be a nasty surprise in the final accounting of an accident. Therefore the insurance you get should be more about what you can comfortable afford, rather than the least amount you can get away with.
Knowing a little more than the norm about motor insurance, in the event of some vehicle incident, will at the very least save you from any nasty surprises in the final accounting. Any additional information about automotive insurance, can only do you a service.
This article is not, nor does it pretend to be a legal document. This article is presented to give any reader an opportunity of understanding the Types of Auto Insurance Cover to a greater level than they may hold at this time.