Car Insurance Pricing Plans

If you happen to own a car in the US, then it is unquestionably necessary – if not downright beneficial – for you to have auto insurance. After all, accident costs can really add up. And it makes good financial sense to protect yourself against the possibility that something might go wrong with your car and leave you needing extensive repairs or worse, bills totaling thousands of dollars. Car insurance pricing plans cover a variety of scenarios when your vehicle gets damaged or stolen and are designed for different scenarios such as having an individual policy through your employer or being on a commercial auto policy group plan with the company's liability coverage extended. This article takes a look at the five different coverage options when buying insurance.

For example, if you have car insurance and your car is damaged or broken into, but the items stolen are not covered under your policy, then you will need to file a claim with your insurance company. It's important to understand that there are many factors that go into determining how much you pay for auto insurance such as age, driving records, model of car owned and even credit score. Additional fees can be added depending on the company's policy and the state in which you live.

The life insurance rate comparison tool helps consumers like you gain an idea of how much car insurance costs in their area and compare policies with different companies to find the best deal possible.

1. Comprehensive Coverage:

Coverage that is designed to take care of damage (physical damage) or theft of contents. This usually covers all damages to the vehicle and its contents up to $100,000 no matter who caused the damage or when it occurred. Comprehensive coverage usually includes theft coverage but not necessarily collision coverage.

2. Collision Coverage:

Coverage that is designed to take care of the cost of repairing your vehicle in the case of an accident. This usually covers for physical damage caused by a collision with another car, object or both up to $100,000. Collision coverage does not include theft or comprehensive coverage.

3. Property Damage Liability:

Protects you from financial loss resulting from damage done to another person's property when you are at fault in an accident. For example, if you say a plastic garbage bin and cause it to topple on your neighbor's fence causing it to collapse, your insurance company will help pay for the damaged fence. It also covers damage done to other driver's vehicles when involved in an accident.

4. Medical Payments (Med Pay):

Helps pay for the medical expenses of any person that is injured in an accident regardless of who was at fault. In case you and several passengers are injured in an accident, this coverage will help pay for all medical expenses and can even include funeral coverages if necessary. These benefits usually come with a $1,000 deductible up to $5,000 maximum coverage per person insured under your policy.

5. Uninsured/Underinsured Motorist Coverage:

This will help you pay the cost of repairs when you are hit by a car but the other driver doesn't have insurance or the amount of their insurance is not enough to cover your entire amount of damage according to your policy. It also helps cover your medical expenses.

For example, if you have a $500 deductible, then you will have to pay for the first $500 in repairs out of pocket before your insurance company covers the rest of your expenses.

Above is a list of common car insurance coverage options that are available on the market today. Here are some factors in figuring out which ones to buy:

Your car is brand new and you want to protect it against theft and physical damage.

Your car is old and you want to protect it against theft and physical damage.

You want collision insurance coverage with your personal auto policy to protect your car. You drive a newer vehicle with a higher and more expensive deductible than an old car with a lower deductible.

You drive an older vehicle, but your personal auto policy doesn't offer collision insurance coverage.

You drive an older vehicle, but your personal auto policy offers collision insurance coverage.

You don't own the car outright, but you are paying for the insurance out of pocket (premiums through monthly payments).

You're a rider on a commercial auto policy group plan with the company's liability coverage extended.

You are looking to get the cheapest car insurance coverage.

Source: http://www.autoinsurancecomparison.org/Auto_Insurance_Plans.html

Follow this website to learn more about car insurance plans, their costs and benefits, different companies and their policies and much more. Visit http://www.autoinsurancecomparison.org/Auto_Insurance_Plans.html for a comprehensive list of car insurance plans.

And it makes good financial sense to protect yourself against the possibility that something might go wrong with your car and leave you needing extensive repairs or worse, bills totaling thousands of dollars.

Keywords: Car Insurance Plans, Car Insurance Coverage, Auto Insurance Options, Auto Insurance Policy

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Conclusion

Every day we are confronted with a whole range of issues that confront us, and the amount of decisions we have to make is simply astonishing. Sometimes it can be difficult to pull out all the information that is needed to make the best decision. This is where online resources such as this one come in handy. With all the information available here, you're sure to get a bang for your buck!

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