5 Important Facts You Should Know About Auto Insurance in Louisiana Driving is a privilege, not a right. Anyone that owns or operates a vehicle on public roads needs to understand the risks involved and take steps to protect themselves if something goes wrong. Auto insurance is one of the primary ways to do that, as it helps you recover from financial loss after an accident. But what kind of auto insurance do you need in Louisiana and how much coverage do you need? It depends on your individual circumstances. There are different types of auto insurance policies with varying degrees of coverage. You'll want to understand which ones will best suit your needs.
Auto Insurance Basics If you are like most people, you don’t read the fine print. You just want to know the bottom line. Like many people, you probably don’t have a clue what auto insurance is all about. The best way to begin understanding auto insurance is to know the different components of a standard policy. Premium - The amount of money you pay for your monthly insurance coverage. Deductible - The amount you pay out-of-pocket for each claim you file. Your deductible will vary according to your insurance company and policy type. Coverage - The types of risks that an insurance company is willing to cover for you. Liability - The amount of money you agree to pay other people if you cause an accident.