Whether you’re a new or seasoned driver, you probably already know that car insurance is a requirement. However, do you understand the different types of coverages and how you can design your insurance plan to get the most out of your money? Here is some basic information to let you know the types of coverage you should get, non-essential coverage and money-saving tips.
5 Essential Types of Coverage
When obtaining car insurance, an auto insurance agent Orlando will likely offer you a quote based on different types of coverage. There are five coverage plans that you should include in your insurance:
- Bodily injury – most states require this type of liability insurance to cover any medical costs for harm suffered by drivers, passengers or pedestrians.
- Property damage – most states require a minimum $15,000 coverage for property damage; however, most cars cost well-beyond $15,000 so consider increasing this amount to at least $35,000.
- Uninsured motorist – in the unfortunate event that someone who isn’t insured hits you, this type of coverage protects you and your passengers.
- No fault protection – this type of coverage covers additional expenses regardless of who caused the accident.
Additional Types of Coverage
In addition to the essential coverage types listed above, there are other insurance options including collision, comprehensive, medical payments, towing, rental and glass breakage. Each of these options increase the cost of your auto insurance so understand their details and limitations to decide if they’re something you should purchase. For example, if you travel a lot it may be wise to purchase rental insurance.
Everyone wants to save money on their auto insurance. Some of the simple tips to save money are to combine coverage, pay for repairs under $1,000, maintain good credit, drive safely and raise your deductible. Each of these suggestions should help lower your cost.
Car insurance is a must if you plan on driving anywhere in the United States. Understand the types of coverage available and money-saving tips to help decrease your monthly insurance bill.