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What Type Of Auto Insurance Fits Your Needs?

By November 15, 2017August 14th, 2021Insurance

An auto insurance policy can protect you from multiple risks on the road. However, auto insurance is not one-size-fits-all. Your driving habits, your budget and the value of your vehicle will all help determine which coverage options you should choose.

Let’s take a closer look at factors to consider when customizing your auto insurance coverage.

What Other Drivers Have

Most drivers must carry liability insurance, as required by law. As such, most insurance policies provide this basic protection.

The Insurance Information Institute says that 78 percent of drivers with insurance buy comprehensive coverage. They add this option to the required liability insurance coverage. Also, about 73 percent of U.S. insured drivers buy collision insurance.

Still, it’s only worthwhile to purchase this coverage if it works for you.

Liability Insurance

Liability insurance is necessary for most drivers. It can help protect you in the event your actions behind the wheel harm other drivers or their property. Basic, state-required levels are restrictive, though. A single car accident can cause thousands of dollars in losses. So, the minimum required coverage might not provide enough protection.

The Car’s Value

Comprehensive insurance can reimburse you if something other than an accident damages it. Comprehensive coverage can make you whole if a fire, vandal or storm causes damage to your vehicle. If you’re carrying a loan on your vehicle, the lender will require likely comprehensive coverage. Owners of valuable or hard-to-replace vehicles also benefit from this coverage.

Collision Risks

Collision coverage is also beneficial. This helps to cover damage to your car for collisions you cause on the road – whether you strike another vehicle, a person or an object. Non-depreciated vehicles and vehicles financed with a loan need this coverage.

Medical Payments Coverage

This type of policy offers protection for the medical costs stemming from a covered accident. This helps you and your passengers can afford to repay any medical debt from the incident.

Uninsured and Underinsured Protections

Many drivers benefit from underinsured and uninsured driver auto insurance. This helps cover any losses you might incur if another driver does not have enough liability insurance.

Update your auto insurance to reflect your specific risks. It often makes sense to invest in a wide range of coverage to minimize all your risks. This will help you protect the value of your car. It can also protect you from financially crippling bills in the aftermath of an accident.

Emerge Insurance Agency is your source for auto insurance coverage. Contact us today to learn more about the coverage options we offer.