| |
| |
|
|
Insurance Information |
|
What Is Meant By Automobile Insurance Standard Coverage?
Automobile insurance standard coverage is the basic amount of insurance coverage that is required by law in order for an individual to legally operate a motorized vehicle. You can simply it even further with the blanket statement as being the mandatory amount of auto insurance coverage a driver must possess. The most important part of anyone's car insurance policy is the liability coverage. This coverage protects the consumer against the cost of damages and injury that is a direct result of that same consumer if they are the cause of a vehicular accident. For instance if you're driving down the road and accidentally run into another person's car this insurance coverage will pay for the damages that result due to the accident. The liability coverage is further broken down into two subsections. The first is bodily injury liability. This covers and personal injury inflicted by yourself upon others during a car accident. The second subsection is property damage liability. As you may have guessed this is your insurance protection against any damage you cause to another individuals property, usually their car. Although coverage amounts can vary it is generally suggested that a good baseline of automobile insurance standard coverage should be 100/300/100. This can be read as $100,000 worth of bodily injury caused to another person, $300,000 towards bodily injuries for everyone involved and $100,000 for property damage. With rising medical costs and outrageous car prices this would be the absolute minimum insurance protection I would personally carry in my automobile insurance standard coverage. However, each state is different and you will need to check to see what their car insurance laws constitute as a minimum coverage amount. If you are in a financial crunch and need a way to save money on your insurance policy try to avoid retaining only the minimum amount of coverage required by your state. Instead try raising your deductible amount (the amount you pay first in the event of an accident before your insurance company kicks in with its payment). You will find that by raising the amount $500 or $750 will significantly lower the monthly costs of your automobile insurance standard coverage. Two other policies that exist include the medical payments insurance which provides for the immediate treatment of injuries sustained during an auto accident. Anyone riding in your vehicle to include yourself is covered, regardless of who is at fault for the accident. The second policy is commonly known as PIP or personal injury protection, is similar to medical payments coverage, but usually provides broader coverage. Many PIP policies provide compensation for lost wages, funeral expenses, and pain and suffering. Again you will need to check with your state insurance laws for further clarification if you are required to have this additional coverage. Finally as a safety measure against law breaking individuals who illegally drive without insurance there is uninsured motorist insurance when the other driver has no liability coverage and underinsured motorist coverage which pays for the cost of your injuries that exceed the other driver's coverage maximum. As before with the PIP coverage you will need to make sure whether or not your particular state requires these forms of coverage as part of their automobile insurance standard coverage. Timothy Gorman is a successful webmaster and publisher of Best-Free-Insurance-Quotes.com. He provides more insurance information and offers discount home, life and auto insurance that you can research in your pajamas on his website. Other websites operated by Tim Cellular-Phone-Solutions.com - Free information and resources regarding cell phones and cell phone plans. Military-Loans-Online.com - Which provides free money saving loan quotes on your entire loan needs to include home equity loan information.
MORE RESOURCES:
Insurance - Google News |
|
|
|
RELATED ARTICLES
Vehicle Insurance Online is a Convenient Way to Get Insurance Cheap Online comparison shopping is a convenient way to get cheap insurance for your auto. For the last few years, insurance companies have been dropping their premiums annually because of lower accident rates and increased competition. Know Your Own Worth: A Practical Insight Into Covering Up Almost anything can be insured these days: breasts, legs, your goldfish, your mental health, physical health, your own life, your child's life. You can insure against the bad weather, good weather, political events?. Life Insurance Settlement A new financial tool is now available for senior citizens. Life Insurance Settlements are quickly becoming a way for seniors to receive money from an under performing or costly life insurance policy. Sleep-At-Night Coverage With A Private Health Insurance ( Affordable Health Insurance ) Health Insurance: a sense of dissatisfactionThe three C's, customization, consumerization and customer-satisfaction, seem to be at the core of the business mantra for every service provider. The health insurance provider industry is no exception to this rule. New Concepts in Car Insurance - Pay as You Drive You can pay as you talk with a cell phone plan, so why not pay as you drive auto insurance? It sounds like a good idea; but would pay as you drive auto insurance work for you?The idea behind pay as you drive auto insurance is simple. Basically its this- if you do not drive very much, you will not pay high insurance premiums. Theres No Problem Getting Texas Auto Insurance in Texas Everything is big in Texas and so it is with Texas auto insurance. You will have a tough time driving in Texas if your car is uninsured. An Intro To Auto Insurance Although premiums, policies and prices vary widely, the mandate does not. Automobile insurance is an unavoidable expense of driving. Free Money Saving Auto Insurance Tips Our money saving auto insurance tips were written for one reason - To Save You Money on your next auto insurance policy. Since in most states you are required by law to purchase a minimum amount of liability coverage we've looked for ways to save you money. Auto Owners Insurance - Do You Really Need It? If you think you don't have any need for auto owners insurance, just consider the answer to this question. How would you manage to pay the medical bills of someone who gets hurt in an accident when you are at fault? If you do not have an unending supply of money, then you definitely need auto owners insurance. Accident Factoids Accidents, personal injuries and insurance claims are here to stay. No matter how far into the 21st Century American's elect to drive (unless by the beginning of the 22nd Century we're all zipping around in our own personal space ship) motor vehicle accidents will continue to pile up; with no end in sight!There are more than 200,000,000 licensed drivers in the United States. Do I Need Travel Insurance? In the United States health insurance, unlike many other countries, you can find dozens of Blue Cross Blue Shield plans. Hundreds of regular commercial insurance and so many more health insurance plans like managed-care plans-HMOs, PPOs and PPG's. Converting An Unwanted Life Insurance Policy Into Ca$h Do You Own A Life Insurance Policy That You No longer Need or Want? It is possible that you may be able to can get a CASH settlement in excess of the current cash surrender value by selling your policy in the secondary market to an investor.Reasons To "Sell" A Policy:Family Situations Bankruptcy Estate Reduction Estate Tax Revision Business Was Sold 1035 Exchange Drain On Income Divorce - Separation Death of A Spouse Retirement Declining Health Non-Performing Policy Wealth Planning Work Related ChangesQualifying Types Of Life Insurance:Group Whole Life Term (Convertible) Joint Universal Variable Key Man (business related)Who Is A Qualified Candidate?Mature men and women over age sixty-five years of age who have an existing life insurance policy and whose circumstances have changed since purchasing the policy originally may qualify for a purchase and sale of their policy. What To Do When You Suffer An Injury On The Job? For over 30 years I have been representing injured workers in workers compensation proceedings and there are some basic errors that injured workers make time and time again.First, it is common for injured workers to ignore a serious injury for a day or even for a couple of days. Risk Retention Groups RRG In response to a hard insurance market in the mid 1908's, Congress passed the Liability Risk Retention Act of 1986. The legislation was intended to simplify the regulatory process for affinity groups such as doctors, real estate developers etc, who wanted to find an alternative to the and unavailability high cost of certain types of insurance coverage. Self Employed Health Insurance - Tips For Getting Cheap Health Insurance When Youre Self Employed If you're self-employed and facing high health insurance bills, there are a number of things you can do to make your health insurance premiums cheaper once you find a good health insurance plan. Some involve opting out of certain coverage, others mean increasing the amount you'll pay out of pocket for expenses. 7 Sure-fire Ways of Reducing Your Home Insurance Premium Home security improvement:All insurance companies will happily offer you a discount for burglar alarms and smoke detectors. Homes with fire and burglar alarms that communicate with a third party monitoring company receive a higher discount on their insurance premiums. Discount Auto Insurance - Keep Your Hard-Earned Money Finding discount auto insurance is so easy when you do an online search. There are many insurance companies that do offer this option for many customers who want to search through several different companies to get the best possible quotes. Auto Insurance Basics Most people only think that insurance is something they need so they can get their registration and tag so they can drive. It is something that they need because their license will be suspended if they don't get it. Term Or Whole Life Insurance - Which Is Right For You? One of the most important things you will ever do is to choose a life insurance policy that will provide for your family after you are gone. Choosing the life insurance policy that is right for you and your family can be quite confusing. How to Reduce Home Insurance Premiums Here are some useful tips on how to reduce Home Insurance premiums.Home insurance, also known as Household Insurance is a policy designed to cover your home and if applicable its contents against the possible risks.
|
||||||||||||||||||
