Car Insurance

Car Insurance

Car insurance is meant to help policyholders recover injury expenses and damages related to various incidents. The point of insurance is not to ensure you always come out of an incident with a financial gain, rather insurance is there to minimize any financial hardships.

The whole concept of Youi Car Insurance is to transfer risk. When you pay a car insurance company your monthly, bi-annual, or yearly premium they take over much of the risk that is involved with potential incidents.

Why Should You Get Car Insurance?

It doesn’t matter how good of a driver you are, things can happen. Every time you get behind the wheel of your car, you are taking a risk. Many forget that they are placing their trust in everyone else that is on the road with them.

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At any time there is a mistake made and an accident occurs, you are taking a financial risk. Even if the accident is not your fault, it doesn’t mean you are always off of the hook for payment. Underinsured or uninsured drivers can leave you paying for your medical expenses and repairs for the damage to your vehicle.

When you are at fault, you will be responsible for the damages to the other person’s car and injuries they incurred. Your insurance company is there to take on that financial burden so you don’t have to.

Depending on what type of insurance policy you decide to get, you may be responsible for paying for your own medical expenses and to fix damages on your car. This is why paying attention to the type of insurance policy that you agree to is so important.

Types of Car Insurance Policies

There are various forms of coverage that you can get from your auto insurance company. It’s important to realize what each form of coverage entails so that you can best match your needs with the right policy for you.

The three main forms of insurance are liability, collision, and comprehensive. There are other add-on coverages, such as rental reimbursement and roadside assistance, which you can opt for as well.

Liability – This is the lowest level of coverage you can have. It covers any damage or injuries that other drivers incur due to your driving.

Collision – This covers both yours and the other person’s vehicle during a collision if it was deemed your fault. You will still need to pay a deductible before your coverage kicks in.

Comprehensive – This insurance policy covers a whole slew of incidents that could occur to your car, other than just a collision. For example, a tree falling on your car. You will also be responsible for paying a deductible under this plan.

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