what-are-the-5-types-of-car-insurance. Or
5 major types of car insurance.
hey guys some insurance type for you. this is gonna be a really simple one, we're going to talk about the three main categories of insurance.
there's five technically, I'll do a three.
what insurance is what you need the whole nine yards go ahead and check that out otherwise if you like this if you got an informative please share it Follow like all, that fun stuff comment if you have questions.
so there's three pieces to insurance so there's1. coverage for you.
2. coverage for other people.
3. coverage for your car.
we're talking about Auto the coverage for
you is our coverage for other people is
liability. so if you crash into somebody's car, it's what you are liable for you're. liable to pay for their damages, so it'll cover property damage. it'll cover their car if you hit their house hit their mailbox. it's gonna cover that repair or replacement part of that liability is bodily injury and what bodily injury is pretty simple. you've
injured somebody so they're medically hurt, now in some states most states this is gonna be completely.
the same there are like nine or ten different states that have like personal injury protection so that's something a little bit separate.
if you want to learn more about the personal
injury protection and then what it does for
you so for the majority of the states this is going to be bodily injury typically about ten years ago even today a little bit the most common liability limit was a hundred three hundred is what they called it and what that meant was a hundred thousand per person, three hundred thousand per accident. so if I hit your car you're injured your buddy in the in the passenger seat is injured and so my insurance is gonna cover one hundred thousand per person in your car. up to three hundred thousand total.
now the issue is there's been a lot of
lawsuits in the past expenses went up
doctor bills are higher. you spend one
night in a medical facility you
could be 120 thousand dollar bill
depending on what they're doing. so the
most common today that I personally get
with our agency is 250, 500. if you injure
somebody it's gonna cover two hundred
and fifty thousand each person up to
five hundred thousand per accident.typically that's enough in most cases to protect somebody and a lot of people don't realize that the cost of the 250, 500 versus the 100, 300 is so minor.
I mean it's just it's almost pennies so it's always better to look at that as an option that's the first coverage.
so the second piece is coverage for you so if you hit me and I'm hurt, now I've got coverage for me and my family and friends like that typically. your liability won't cover the people in your car because you're just covering anything. you're liable for well what if they're liable they're usually going to have enough coverage hopefully to cover your medical in your family's medical if they don't there's a couple pieces to this there's med pay which is a common piece we can add personal medical to each person.
so if I had three people in my car and I said I want a five thousand med pay then that means every person gets up to five thousand per person so no matter what that cover just kicks in then there's uninsured motorist. so if someone hits you and they have no insurance. they're uninsured those people are driving illegally they hit you they take off they have no insurance you never see them again that's uninsured motorist and that'll typically be the same thing as your liability so you can pick 50 100 100 300 through 250 500. so typically you would match it so we would do at 250 500 so each person in my car gets 250 a person up to a total of 500,000 then there's underinsured motorist.
so if I feel like my medical could be more expensive and I want to protect me more I could say okay if they carry less than what I want to carry then mine's going to cover difference that way I'd have to deal with lawsuits and have to go after the guy I'll let all the insurance companies take care of it. so I'm gonna take the underinsured motorist and means they're underinsured compared to mine and I'm going to carry those higher covered or they might have 100 300 and I carry the under underinsured motorist you I am they call it at 250 500 when that maxes out that 100,000 per person mine kicks in up to 250 and when there's maxes out at 300 thousand per accident mine maxes out at 500 thousand per accident
so I'm definitely covered there most states that's really inexpensive to get so definitely worth it to look at Florida and all those higher risk states where there's a lot of uninsured motorists. if you're gonna pay an extra premium so that's a big big cost there you just have to ask him find out what the differences are honestly I'd say out of all of the policies. I write probably 95 to 98 percent of our policies all have those coverages the 250 500 they've got the uninsured and underinsured motorist then that's coverage for you and then there's coverage for your vehicle.
now here's where people say there's five different coverages because they separate the Med pay and they got liability and they got all that other stuff and then there's your car there's two pieces comprehensive and collision comprehensive is where most cases
the car is not moving anything out of your control whether damage you hit an animal you can't control the animal right you hit them someone vandalizes your car someone steals your car that's comprehensive in most cases cost wise. it's not expensive to carry so having a low deductible there isn't gonna cost you an arm and a leg most commonly most people do $100 deductible.
some people do zero I personally like the hundred because it kind of makes me think about the claim if I'm gonna file it or it also covers me if I have like glass damage or a windshield at least that kind of responsible. so I'm gonna I'm gonna have a small portion of that bill than I'm gonna pay then there's collision so collision is just exactly what it sounds like that's collision so when someone says I want full coverage. they're telling you they want all three of these coverages they want the coverage for you covered you and your family coverage for other people and they want coverage for the vehicle that's full coverage.
so now the collision portion most people do about a $500 deductible that means if I'm in an accident and it's my fault that I'm going to pay $500 towards that deductible they're gonna cover whatever the rest of the value of my car is some people who want to save extra money will do a larger deductible. so they'll do $1,000 deductible keep in mind if you have an accident you have to come up with that thousand dollars before you get your car back so will they start the repairs absolutely nine times out of ten.
your car's gonna go straight to the body shop they're gonna start working on it and then when you go to pick it up then you're gonna pay that thousand deductible. sometimes you can kind of make a deal with the the mechanical shop where they might cut down some of your deductible that's even a benefit otherwise what I typically do if I have an accident unless you have a specific mechanic that you want to work with, I just ask the insurance company where best is because nine times out of ten they usually just make it quicker.
I'm not worried about it cuz it's completely covered and that is the three parts of insurance I hope this text was informative. if you comment it is good.
Thanks. So these was some type of
what-are-the-5-types-of-car-insurance. Or
5 major types of car insurance.
Moe read what is meaning of insurence
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