Can I Used My Insurance Auto Rental for Car Repairs
The Ins and Outs of Auto Insurance
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Auto insurance is a legal requirement in most states, except for places like Virginia where you can pay a fee to the state rather than take out an insurance premium. As with all forms of insurance, there are lots of options available. It can get quite complex when you're taking out insurance for the first time. Do you need collision coverage or comprehensive coverage? Should you just take liability coverage? Then there are other types of insurance like uninsured and underinsured motorist coverage, medical payment coverage and personal injury protection that make the market for auto insurance even more complex.
Liability Coverage
Liability coverage is mandatory in most parts of America. In most states, drivers are obliged to have liability insurance because it protects against them against the legal costs attached to injuries sustained by other people in an accident and damage to other vehicles and property while driving. Typically this coverage includes protection against expenses that you're liable for such as a person's medical bills, and it also covers property damage. You chose the coverage limits, although the minimum amount is governed by each state.
Comprehensive Cover
Comprehensive coverage provides you with cover against fire, theft, natural disasters, and vandalism. Your vehicle can be repaired under this form of insurance or you could get a replacement vehicle up to the same market value as your car at the time of the accident. You need to pay a deductible before you're reimbursed. This type of coverage isn't mandatory but if you're financing a car or leasing a vehicle, the lender might insist that you're covered by comprehensive insurance.
Collision Coverage
You'll need collision coverage if you want to cover your vehicle for accidental damage. Whether you hit a fence or another vehicle, this type of insurance may help repair your car. If not, you might get a replacement car up to the market value of your old car. As with comprehensive coverage, you'll need to pay a deductible before your car is fixed or a replacement vehicle is handed over. This is normally an optional insurance which those with low-value cars decide not to take out because the deductible is often a high percentage of the car's overall value.
Uninsured and Underinsured Motorist Coverage
If you're involved in an accident that wasn't your fault with an uninsured driver, you'll be glad you took out uninsured motorist coverage. Similarly, if you have an accident with a motorist whose liabilities are too low, having an underinsured motorist policy will get you back on the road again. You'll guarantee cover for your medical bills and any property damage by taking out uninsured motorist insurance. If you don't have that insurance, you could try and sue the uninsured driver but drivers without insurance tend to be in that position because they have no money for a policy.
Medical Payment Coverage
This insurance offers cover for your medical bills and dental work after you've been involved in an accident no matter whether you were at fault or not. Some medical payment policies pay for funeral expenses and injuries sustained by passengers in the car. If you're hit by a car when you're cycling or walking, your medical bills will also be covered. You'll need to read the small print or talk to your insurer to find out what cover you'll be getting with medical payment insurance.
Cost of Coverage
All of these insurance policies take details like your driving record, your claims history, your age and sex and your marital status into account when the underwriter draws up the quote. You'll get a lower premium by increasing the deductible on all of these insurance plans but make sure you have enough money to pay it before signing up to a policy. In general, medical payments coverage is the cheapest of the policies covered here and comprehensive coverage is the most expensive.
Can I Used My Insurance Auto Rental for Car Repairs
Source: https://www.life123.com/article/the-ins-and-outs-of-auto-insurance?utm_content=params%3Ao%3D740009%26ad%3DdirN%26qo%3DserpIndex