miércoles, 28 de diciembre de 2016

What is Car Insurance?

In GUARDIAN INSURANCE AGENCY we want to start, explaining you the definition of car insurance:

Car Insurance is an agreement between you and a company in which you pay them a set monthly amount and in return the company promises to pay for possible future damage, loss or injury. 

In auto insurance instead of you having to pay for the damages from a wreck or act of nature, your insurance company does. They take on your risk, your monthly payment goes into a big account with a lot of other premiums, and when a wreck happens and the money is needed, the company can then pull out to cover the request. 

Components of a Car Insurance Policy:

Liability Coverage

Drivers are legally required to purchase at least the minimum amount of liability coverage set by state law, auto liability coverage is mandatory in most states. Liability coverage has two components:

-Bodily injury liability may help pay for costs related to another person's injuries if you cause an accident.

-Property damage liability may help pay for damage you cause to another person's property while driving.

Uninsured and Underinsured Motorist Coverage

If you're hit by a driver who doesn't have insurance, uninsured motorist coverage may help pay for your medical bills or, in some states, repairs to your vehicle. If you're hit by an underinsured driver, their liability limits aren't enough to cover your resulting medical bills. That's where underinsured motorist coverage may help. Uninsured and underinsured motorist coverage is required in some states and optional in other states.

Comprehensive Coverage

Comprehensive may help cover damage to your car from things like theft, fire, natural disasters or vandalism. If your car is damaged by a covered peril, comprehensive coverage may help pay to repair or replace your vehicle (up to the vehicle's market value). This coverage has a deductible, which is the amount you'll pay out of pocket before your insurer reimburses you for a covered claim. Comprehensive is typically an optional coverage, but your lender may require it if you're leasing or paying off your vehicle.

Collision Coverage

If you're involved in an accident with another vehicle, or if you hit an object such as a fence, collision coverage may help. This coverage may help pay to repair or replace your car (up to its market value) after you pay your deductible toward a covered claim. Collision coverage is typically optional. It may be required, however, by your vehicle's leaseholder or lender.

Medical Payments Coverage

If you, your passengers or family members who are driving the insured vehicle are injured in an accident, medical payments coverage may help pay for costs associated with the injuries. Coverage may help pay for hospital visits, surgery, X-rays and more. Medical payments coverage is required in some states and optional in others.

Personal Injury Protection

Personal injury protection, or PIP, is only available in some states. Like medical payments coverage, PIP may help pay for your medical expenses after an accident. In addition, PIP may also help cover other expenses incurred because of your injuries, for example, child care expenses or lost income. Personal injury protection is required in some states and optional in other states where it's available.

In GUARDIAN INSURANCE AGENCY located in Fairburn, Lagrange and Norcross we have the best car insuranse for you!

For more Information contact us: (706) 884-5006 or (770) 969-5666

Please visit us: www.go-guardian.com

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