Explore the Types of Auto Insurance – One Policy Doesn’t Fit All
When it comes to auto insurance, drivers should consider a smorgasbord of possibilities. While one type of auto insurance policy may cover a single aspect, another type protects you from numerous others.
Before sitting down with an agent, understand the types of auto insurance coverage available:
- Collision: when you are at fault in an accident, you need liability to cover the people you’ve hit. However, liability coverage alone won’t cover the damage to your car
- Bodily injury liability (BIL): covers the medical expenses of anyone injured in an accident that you caused. Often bodily injury liability policies are described as the 20/50 or a 100/300 policy – the number on the left is the maximum amount the policy will pay for one person’s injuries and the number on the right is the total amount the policy will pay for all injuries total.
- Property damage liability: if you caused the accident, this policy pays for any damage done to the vehicle
- Uninsured/underinsured motorist coverage: pays for costs in the event you are hit by a motorist who is either uninsured or underinsured
- Comprehensive: coverage if your car is stolen or damaged (not due to an accident)
Although the list may look dizzying, an experienced auto insurance agent can help you cut through the clutter.
How Much Auto Insurance Do You Need?
While no driver wants to be underinsured, no one wants to pay more than they have to either. Auto insurance experts recommend that you make sure you are covered for an equal amount of your total assets (add up the dollar values of your home, car, savings and investments). Additionally all drivers should consider carrying specific types of auto insurance:
- Because you can’t control whether an uninsured or underinsured motorist hits you, consider adding underinsured/uninsured coverage to cover possible costs
- Collision and comprehensive coverage is vital for any vehicle owner particularly considering the cost of vehicles these days
Visit with a friendly auto insurance agent at Nowell Agency for a custom designed policy to meet your specific needs.
Contact the Nowell Agency to customize an auto insurance quote for you or call us at 601-992-4444 today.