You probably know that all automobile insurance is not designed equally. When you choose an insurance package, you might not be receiving the coverage you think you’re paying for. As you read over your documents, look for these keywords that indicate different types of coverage:
- Bodily Injury Liability – This type of coverage ensures that your policy handles any injury claims made against you. Typically, this type of coverage also covers legal costs associated with injuries and even death.
- Comprehensive Insurance – If your car is involved in an incident that is not a car accident, comprehensive insurance will cover the physical damage. This means you have protection in case of a fire, flood, or bad storm.
- Uninsured Motorist Protection – In many cases, the person causing an accident is either uninsured or drives away without leaving behind insurance information. This is important, especially considering that a large portion of drivers on the road actually lack auto coverage.
- Underinsured Driver Protection – In some cases, the other driver involved in the accident does have insurance but does not have enough to totally cover the damages. That’s where this coverage comes in.
- Property Damage Liability – This coverage ensures that any damage to property caused by your car is covered. This type of insurance is a requirement throughout most of the United States.
- Collision Coverage – This type of insurance is available to cover your car up to its full value according to the book. If you rent or lease a car, collision coverage is typically a requirement.
Rob Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953.