Many young and inexperienced drivers may want to buy the basic liabilities car insurance and get behind the steering wheel. Some others may not realize the importance of insuring their car properly. And those people may only buy third party cover because it is legally required. wouldn’t it be better to buy proper protection if you have to buy insurance anyway? This is an important subject and will be explained in detail below.
Liabilities policies only pays for damages and injuries suffered by third parties. This part of a cover protects you from claims made against you. You are on your own for your own damages if you buy liabilities only coverage. There are a lot of things that can happen to your automobile and require repairs. You may even lose it completely when it is beyond repair or stolen.
By including Collision and Comprehensive Coverage you make sure that you are protected for many damages. Collision pays for the crash related damages and comprehensive pays for any other damages that may come to your auto. These policies are normally sold together and include deductibles to be paid by policyholders.
When you are getting a loan your lender would insist that you have these covers as well as GAP insurance. Gap pays for the gap between the market value and outstanding loan figure. They obviously want to make sure that their security is well protected with a full coverage. Otherwise, how would they get their money if something happens to the car?
Knowing there are far too many uninsured vehicles on the roads in the USA you would want to buy Uninsured Motorist Coverage as well. This would pay your damages if one of them hits your car and relieve you from the pain of chasing the person in courts. The actual cost of this addition is not really much and it may be compulsory in some states anyway.
Normally, you would have rental reimbursement cover as well with a full coverage packages. What this means is that you can rent a car when yours is being repaired. The insurer would pay the rental costs when the vehicle has suffered an insured loss. There may be certain limitations that stop you from going and renting a Bentley when your Fiat is being repaired.
As you probably know you don’t have to buy anything more than basic state required liabilities cover to be able to drive a car. So, why would you want to pay a lot of money and get these extras? The answer is simple, it is either you who pays for the damages or the insurance company, if they ever happen. You are selling your unknown risks to the carriers for a set amount called premium.
Actually, most motorists don’t even think about it and go for the full coverage packages. They are sold by most companies and made to be attractive and reasonably priced. Without insurance you cannot take pleasure in driving knowing that anything can happen round the bend and it is all money to get it fixed.