Understanding More About Your Auto Insurance Policy

A car insurance policy is made up of a number of components including comprehensive coverage, collision coverage, property damage coverage, liability coverage, uninsured and underinsured motorist coverage, and more. A lot of people aren't fully aware of what their coverage offers. If you have a car insurance policy, after you read this article you will have a better understanding of what you own.

When you have comprehensive coverage your insurance company will pay for repairing your vehicle for a number of different contingencies. A couple of examples will probably give you a pretty good feel for what this coverage will cover you for. For example, if your car catches fire, has been vandalized, or if your windshield has been struck by a flying rock, your comprehensive coverage will pay for the repairs.

And, if your car's been stolen and retrieved, but it's been damaged in the process, this facet of your insurance policy will take care of the repairs.

If you are involved in an accident collision damage coverage will pay for the repair of your vehicle, no matter who's at fault - less whatever deductible you chose when you bought your auto insurance policy.

Now, if you're involved in an accident and it's been determined that you were at fault, your property damage coverage will pay for the property damage that you've caused. The maximum amount of money that your insurance carrier will pay will be determined by whatever limit you had agreed to when you bought your policy. This will usually be between $5,000 and $100,000.

Also, if people in the other car were injured when you were at fault - or if it's been determined that it was a not-at-fault accident - your liability coverage will pay for their medical bills. Once again, the maximum your car insurance company will pay will be determined by whatever limit(s) you purchased. In a lot of states the minimum is $15,000 per individual, or $30,000 if more than one person was injured.

If you buy uninsured and underinsured motorist coverage then your insurance company will pay to repair your vehicle if you don't have comprehensive and collision coverage and you get into an accident that is the other person's fault, and the driver of the other vehicle either doesn't have any car insurance or does not have enough insurance to pay for your damaged property and/or your vehicle. Some states also permit this coverage to be used for your medical bills as well.

If you add uninsured and underinsured motorist coverage you will go a long way towards becoming whole again if such a situation arises.


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