Auto insurance, like most insurance, can vary greatly by not only the insurance company, but also by state insurance laws. Let’s take a look at some very basic types of auto insurance coverage.
Basic Auto Insurance Coverage
Bodily Injury Liability
Bodily injury liability coverage in an auto insurance policy will pay the cost of medical expenses and the loss of income for someone who is injured in an auto accident where you are found to be at fault. This coverage may also pay the cost of legal defense if you should be sued as a result of an at fault accident involving injury or death.
Medical Payments
Regardless of who caused the accident, medical payments coverage will help reimburse expenses like hospital expenses, lost wages, or funderal expenses for you or your passengers.
Property Damage Liability
If you are found to be at fault in an auto accident, property damage liability coverage will pay for repair or replacement of someone else’s property.
Collision Coverage
Collision insurance coverage will repair or replace your vehicle if it should become damaged in a collision or rollover.
Comprehensive Coverage
Comprehensive insurance coverage pays for damages to your vehicle not caused by collision. Comprehensive coverage may include theft, fire, or glass breakage.
Uninsured/Underinsured Motorist Coverage
Uninsured motorist coverage in an auto insurance policy normally includes “Uninsured Motorist Bodily Injury Liability (UMBI)” and “Uninsured Motorist Property Damage (UMPD)”. If you should be involved in an accident caused by an uninsured motorist or a hit-and-run driver, this coverage will provide the same protection for you and your vehicle as stated above under “Bodily Injury Liability” and “Property Damage”.
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February 1, 2008
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