AUTO INSURANCE COVERAGE - HOW MUCH DO YOU NEED?
Bits of Advice for Smart, Young Adults
INTRODUCTION
If you are buying car insurance for the first time or are willing to renew your current policy, you may be wondering how much auto insurance you need. Keep reading below to find out what you need to know about auto insurance.
HOW MUCH INSURANCE IS REQUIRED?
If you ever go wrong in an accident and injure the driver or passenger of the vehicle you collided with, the damages and costs can quickly increase. This will easily exceed the minimum coverage requirement of the PLPD
Insurance that covers damage and injury to other people and t heir property is known as PLPD
Public Liability and Property Damage
$200,000 is t he lowest legal limit of PLPD insurance one can carry
Most insurance professionals recommend a minimum of $1,000,000 in liability or higher limit
CHOOSING AN INSURANCE DEPENDS ON SEVERAL FACTORS INCLUDING Whether you own or lease your vehicle How much your vehicle is worth Damages that you are willing to cover outside the pocket
WHAT INSURANCE IS RECOMMENDED?
COLLISION
AND
COMPREHENSIVE ARE THE TWO MOST COMMON TYPES OF OPTIONAL AUTO INSURANCE
COLLISION Collision coverage will pay for repairs and damages It will also cover the repair costs or replacement
COMPREHENSIVE Cover damages to your car that were not a result of a collision Cover damage caused by extreme weather like an earthquake or hailstorm
COMMON AUTO INSURANCE CLAIMS
The most commonly filed auto insurance claims are for: Theft of vehicle Collision with another vehicle Collision with animals Hail damage vandalism
It is always helpful knowing the facts about auto insurance services before rate shopping Understanding the legal requirements for car insurance, > what insurance has .. . . . ......... recommended > what the most common claims is
CONCLUSION
Help to decide on how much coverage is really needed