So many people struggle with understanding insurance coverage. Either because they don't ask or because their agent doesn't bring it up. Also, let's be frank sometimes it seems like this stuff is written in hieroglyphics! That is why I decided that each week I am going to answer a common question I've had.
I'll start out by talking a little bit about auto insurance, and at any time you can chime in with additional questions for me to answer. Let's get started!
Your auto insurance basically covers three things. It covers other people, you and your family, and your vehicle. I'll start with "Other People." For your Bodily Injury (Liability) coverage, if you cause an accident and people are hurt, you could be held legally liable for medical costs for EVERYONE involved. Liability coverage can help shield you from losing your home, your savings and investments, or having your wages garnished to pay for the injured party's medical costs, loss of income and pain and suffering. The other part of "Other People" coverage is Property Damage coverage. Property Damage covers you if you cause an accident and damage another person's car or their property, you could be held liable for repair or replacement costs. Today the average price for a new car is approximately $31,000. That's just an average car and not a luxury vehicle.
There is the first installment! That wasn't so bad, was it??? If you have questions about this information or any other questions concerning your insurance coverage feel free to e-mail me any time at: email@example.com