Car Insurance is an essential coverage everyone should consider. However, as is often the case when it comes to insurance, getting your bearings in the world of Car Insurance can be challenging even for experienced drivers.
That’s why we have gathered in this post all the essential facts you need to understand in order to find the Car Insurance coverage that best fit your needs. Read on to learn more!
Do I Need Car Insurance?
The short answer is Yes, you do need Car Insurance. Most states require Auto Insurance. Driving without insurance can put you in jail or it may be a reason to have your license revoked. Therefore, it’s very important to understand at least the most basic terms and the different types of Auto Insurance coverage available.
What Coverage Should I Choose?
Since every state has minimum Car Insurance Requirements, that should be your basic guideline. Once you have this information, you can decide to increase the limits of your insurance.
- Bodily Injury Liability
This coverage applies to injuries you, or the family members listed in your policy, cause to others. It also covers you when you drive other people’s cars with their permission.
- Personal Injury Protection (PIP)
This component of Auto Insurance covers medical expenses for the treatment of injuries to the driver and passenger of the policyholder’s car. PIP may vary from state to state and it may cover other expenses such as lost wages and rehabilitation costs.
Collision coverage applies to damage caused by a collision with another car or object such as a guardrail, tree or fence. It also covers damaged caused as a consequence of flipping over.
This coverage will reimburse you in case of lose due to theft or damage caused by a collision with something other than another a car or object. While states don’t require comprehensive coverage, some lenders ask borrowers to carry this type of insurance until a loan is paid off.
- Guaranteed Asset Protection (GAP)
If your car is totaled or stolen, the insurance company will reimburse you the market value of your car. However, since cars depreciate rapidly, this amount may be significantly lower than the amount you still owe a financial institution. This type of coverage helps you cover that difference.
How Can I Lower my Car Insurance Premium?
There are some smart strategies you can keep in mind if you want to lower your Car Insurance premium. For example, you can take a defensive driving course, or ask for a higher deductible. There are also some categories of drivers that are entitled to discounts, like retirees or students.
Learn More About Car Insurance
Now that you have the basics you need to understand Car Insurance, you can continue to explore this interesting topic with these posts from our blog:
- Use these four tips to save on Car Insurance
- Learn more about the factors that affect your Car Insurance Premium
- An essential collision insurance glossary.
- Discover other types of insurance for vehicles: Motorcycle Insurance and RV Insurance.
Contact the Insurance Experts at Delgado’s Insurance
Whether it’s Car Insurance, Motorcycle Insurance, Life Insurance or Commercial Insurance, at Delgado’s Insurance we are committed to helping you find a policy customized to your individual unique needs.
We have locations in Riverside, California, and Bloomington, California. Contact us today by telephone (951-361-0084, 909-421-9003), email or through our social media accounts to get a free quote and learn more about our Life Insurance options. Our agents will be more than happy to assist you so you can find the coverage that makes the most sense to you.