What are the Types of Auto Insurance Coverage?
Liability Coverage
Liability coverage includes coverage for both bodily injury and property damage. Most states require this basic form of coverage. In other words, if you cause an accident, hurt someone or damage someone else's property, it can pay for covered damages and to defend you in the event of a lawsuit.
Comprehensive Coverage
Comprehensive coverage helps pay for any incurred damage to your vehicle that is not caused by a collision. For example in the event of theft, vandalism, hitting a deer or other type of animal, storms and certain natural disasters fall under this form of coverage .
Personal Injury Protection
Personal injury protection (PIP), also referred to as no-fault insurance policy, is only available in certain states. The policy covers any accrued medical expenses resulting from an accident, and in some cases a portion of lost wages and other damages regardless of who is at fault in an accident.
Collision Coverage
Collision coverage helps pay for any damages to your vehicle if your car hits another car or object, if your car gets hit by another car or if your vehicle rolls over. This coverage is a required policy if your car is being financed or leased.
Uninsured/Underinsured Motorist Coverage
Uninsured/underinsured motorist coverage can help pay for damages and medical costs resulting from an accident caused by someone who has no insurance or an inadequate insurance coverage policy.
Medical Payments Coverage
Medical payments coverage helps to pay for any covered medical expenses for anyone who was injured while in your vehicle at the time of an accident, regardless of who is at fault for the accident.
Deductibles and Limits
Your car insurance deductible is the amount you'll pay out of pocket before your insurance kicks in and covers the rest of the balance. The lower the deductible, the less you'll be required to pay out of pocket if an accident occurs. Selecting a higher deductible may lower your auto insurance premium but you will be required to cover more of the cost in the event of an accident.
Your car insurance coverage limit, also known as the limit of liability, is the most your insurance will pay if you have a claim. Choosing a higher coverage amount provides you additional protection if an accident were to occur.
The available coverage limits may vary by the type of coverage selected and the state you inhabit. It is extremely important for you to select limits that meet your specific and unique needs.
Additional Coverage
Loan/Lease Gap Insurance
Gap insurance – or loan/lease insurance – can help protect you if your vehicle is financed or leased. If your vehicle ends up totaled, this coverage policy may cover the difference between the actual cash value of the vehicle at the time of the accident and the unpaid balance of the loan or lease on the vehicle.
Rental Coverage
Rental reimbursement, otherwise referred to as extended transportation expenses coverage, can cover the cost for a rental car if your car is damaged in a covered accident and your car is out of commission for more than 24 hours.
Roadside Assistance
With Roadside Assistance you can have peace of mind knowing that help is just a phone call away. And best of all - this service costs less than many independent services. Because we know that everyone is different, we offer two levels of coverage, depending on individual needs.
New Car Replacement
New Car Replacement gives you the extra coverage you need. If you total your new car in the first five years, this coverage pays to replace it with a brand new car of the same make and model. Many insurers offer coverage for just the first two or three years.
Accident Forgiveness
Many responsible drivers are concerned about the possible premium impact of an accident or violation down the road. The Responsible Driver package includes accident forgiveness and minor violation forgiveness —two extremely popular features.
Ride Sharing
Available in Colorado and Illinois only, the Limited Ride Sharing coverage endorsement can help protect individuals who drive for transportation network companies. The endorsement provides auto coverage after drivers open a mobile ride sharing app, but before connecting with a passenger.
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