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Auto Insurance

Your auto insurance may be the most important insurance you carry. Most of us drive everyday, which means on a daily basis you could potentially be at risk of needing your insurance. Because of this we feel it is so important to make sure you understand the coverage your auto insurance policy provides. Most of us just think about the obvious, which is Collision insurance. But what if your seriously injured or you hurt someone else? Has anyone explained the repercussions, should you have to sue someone else or if you were to be sued?

The only state that does not require Auto Insurance to operate a motor vehicle on its roadways, is New Hampshire. Every other state requires some sort of Liability coverage in order to License and register a vehicle for road use. The level of coverage does vary greatly from state to state so it is important to know what your state of residence requires.

Those with a vehicle that has a loan or lease will also require Physical Damage coverage (Comprehensive and Collision) with most leases also having requirements on the minimum Bodily Injury Liability limits.

There are 6 Essential Parts of an auto insurance policy

  • Bodily Injury Liability Insurance
  • Uninsured/Under Insured Motorist Protection
  • Medical Payments or Personal Injury Protection Insurance
  • Property Damage Liability
  • Comprehensive or Other than Collision Insurance
  • Collision Insurance

Want to learn more about your risk and how these coverages are meant to mitigate your financial risk? contact us now

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