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According to a recent research study, almost 87% of U.S. drivers have some type of car insurance. By having car insurance, one has the peace of mind of knowing that someone will help us in the event of an assault, accident or total loss. It is difficult to imagine the problems that can arise as a result of a car accident, from medical assistance, payments to settlements. Starting from these points one notices the true importance of having insurance that protects situation.
There are five major car insurance types in the United States, and not all are mandatory. Moreover, you may also need to choose the ones available depending on the state you live in and the federal regulations in that particular area. Each insurance policy has specific eligibility, coverage, and costs that you need to know before you choose any one of the policies.
If you purchased a used car, be careful to determine if the car is completely viable and not a lemon. Before getting insurance make sure the vehicle is in good shape to avoid accidents caused by faulty equipment. If you determine you have purchased a car that is not safe, contact a lemon law attorney to know your rights. If everything is good, the following tips will help you understand coverage types and benefits.
This is easily the kind of policy that should be mentioned at the top, as responsible coverage is considered mandatory in most U.S. states. The two subcategories within this policy are damages for property damage and bodily harm. Both of these categories protect you against expenses that occur when you accidentally damage another vehicle or person. It will cover either medical expenses or repair costs if you crash into another vehicle.
While state governments may not enforce this in every area, as it will cover insurance costs, you will probably need to get them based on where you live. The coverage will cover many practical issues including weather damage, flooding, theft, vandalism and will also provide a sum to repair your car in the event of an accident.
Personal Injury Protection
The policy is similar to medical coverage triggered if you are involved in an accident and need medical help. The cost involved for the surgery will be covered by car insurance in the United States, but this particular coverage goes beyond the initial recovery. It incurs additional ongoing medical costs and covers other medical expenses if needed.
Uninsured and Underinsured Coverage
Not all motorists and cars on the road are getting valid car insurance. Although there are many types of car insurance in the United States, there are many who use uninsured coverage that may not be sufficient to cover damage caused physically or to your car. In such cases, the excess medical bills or repair costs will be covered by the insurance company. This insurance is mandatory in some states but not all.
Medical Payments Coverage
Another common type of car insurance in the United States is medical insurance, which covers every additional bill created by the hospital. It includes additional medications, scans, and extended treatment to ensure a complete recovery from the accident.
While the car insurance types in the United States are extensive and may sound intimidating to choose from, get help from professional agents to help you choose the right policy for your needs. Based on your driving records, your location and the types of coverage you need, it’s easy to bundle multiple policies together and pay one consolidated premium monthly, quarterly or annually at your convenience. You can also get a good car insurance deal with Money Expert.