Operating a motor vehicle on the roads of the United States, whether you own or lease that vehicle, comes with a major requirement: auto insurance. In almost every state, drivers must have some form of automobile insurance if they wish to use the roads. As almost every person in a driver’s education course has heard, driving is a privilege and not a right. This means that you must have your state of residence’s minimum requirements for driving insurance if you wish to operate a vehicle. You do not need an exaggerated amount of coverage if you cannot afford it.
There are three ways that auto coverage can be classified and those three ways are protecting others and their property, protecting you and your passengers, and protecting your vehicle. To protect other drivers and their property make sure you have liability auto coverage. This policy will provide those who you hurt in an auto accident with financial reimbursement for repairs to the vehicle, medical bills and legal bills should a lawsuit ensue. This type of coverage is required in almost all 50 states of the country.
When it comes to protecting yourself and the passengers riding in your car, personal injury protection should be acquired. This type of coverage is not required in every state of the country but is required in most of them. Personal injury protection covers the medical expenses you incur from an accident no matter who is at fault. The medical expenses of your family members and the passengers in your vehicle are also covered no matter who is at fault in the accident. This auto insurance is also referred to as ‘no fault’ coverage. Another type of coverage you should consider acquiring is uninsured motorist coverage. This policy protects you when you are involved in an accident with a driver who is uninsured or who has an insufficient policy.
When it comes to protecting your vehicle, make sure you have collision insurance on your auto insurance policy. As you acquire collision insurance, be sure you keep the following in mind: how much your vehicle is valued at, the value of your personal assets, and how well you can pay premiums. In order to acquire better insurance rates make sure you maintain excellent statistics on driving claims, your car meets all safety standards, your years of driving experience, your miles driven, and your distance driving to work.
Auto insurance is such an important part of society today because it protects all those on the road, no matter what type of vehicle they drive. If you have a driver’s license but do not own or lease a vehicle, but instead drive a friend or family member’s car, make sure that vehicle is insured before getting behind the wheel.
Jim Collier Insurance is an independent insurance agent Michigan agency based right here in the state of Michigan that has been providing expert insurance agent in Michigan advice to Michigan families for over a decade.