Car Insurance Prepares You for the Unexpected
Traffic accidents are common, from fender-benders to highway crashes. In fact, over 10 million accidents occur on U.S. streets each year. The key is to be prepared so that the costs involved in recovering from an accident are not devastating to your finances.
Independent insurance brokers handle the concerns of drivers every day, answering questions like “How much car insurance do I need?” and “How do I choose my auto insurance deductible?”
The Cost of Car Accidents in the U.S.
- Automobile traffic accidents cost $299.5 billion annually in the U.S.
- Crashes cost $61,600 on average
- A critically injured person can accumulate $1 million in medical expenses
- Legal defense alone can cause devastating financial hardship, even if it turns out you are not found to be at fault. For this reason, it is important to think carefully about the coverage you may need in the event of an accident. If you buy car insurance online without professional advice, you may not be fully covered.
How to Find Fast, Accurate Insurance Quotes
When you’re looking for insurance quotes, it’s important to look for coverage that makes sense for your concerns and budget. An independent agent can help you get fast quotes that are tailored to your needs. You can also get answers to your questions about how much insurance is best for you, what discounts you can get and what you can do to keep your costs low.
Independent insurance agents offer many important benefits:
- Your local agent understands the factors that make up a quality car insurance policy and the requirements in your state.
- Independent agents partner with multiple carriers to find the best personal auto insurance coverage for you at affordable rates.
- Your agent will help you find car insurance tailored to your needs, not to a formula that describes what the average driver should have.
- Review Options from Multiple Auto Insurance Companies
When you work with an independent agent, you are not stuck with one insurance company and only the solutions that company provides. Instead you will have a range of choices from top insurance companies.
Your independent agent will assess your needs based on factors such as the number of drivers in your family and their ages. Your agent will also look at bundling multiple vehicles together, or combining your home and auto policies under one insurance company, so that you can get the best value for your dollar.
Your agent can help you review several policy choices, coverage limits, deductibles and pricing and choose the best fit for you.
Is Auto Insurance Coverage Required?
Drivers in every state are required to have auto liability insurance, such as personal injury protection.
Car insurance liability requirements vary by state, and include a minimum amount for bodily injury costs per person and per accident as well as a minimum for property damage liability. If you cause an accident, liability coverage pays those costs, up to the limits set for your policy.
In addition to required liability coverage, you may also want collision coverage to protect your investment in your vehicle. And depending upon your specific needs and risks, you may also want comprehensive coverage – now known as “other than collision.” Together, collision and comprehensive can provide protection for everything from accidents to theft and vandalism.
What Does Car Insurance Cover?
There are three primary types of insurance coverage:
- Liability insurance: Covers the costs associated with injuries and property damage you are responsible for if you cause an accident.
- Collision: Covers the costs to repair or replace your damaged or destroyed vehicle after an accident.
- Comprehensive: Formally known as “other than collision,” this portion of your policy covers damage to your vehicle from causes such as auto theft and weather damage.
There are also several different types of coverage which may be available to you, including:
Medical payments: Covers the costs of injuries for you and others in your vehicle after an accident, regardless of who was at fault.
Personal injury protection: Similar to medical payments coverage, PIP coverage can pay your medical costs after an accident, regardless of fault. But PIP offers expanded coverage that includes coverage for lost wages.
Rental reimbursement: Pays a certain amount daily for a replacement vehicle if yours is in the shop for repairs.
Towing and roadside service: Provides emergency roadside assistance and towing to help you get your vehicle back on the road or to a shop for repair.
As you consider your policy needs, it is important to keep the coverage limits in mind. The costs of a severe crash can quickly exceed the limits. If that occurs, you will have to pay for costs out of your own pocket.