Auto Insurance Basics

Is Auto Insurance a Necessity?

Yes! Auto Insurance protects you financially by covering losses or damages to your vehicle due to accidents or theft. Fender benders happen daily, and unfortunately sometimes people are injured. With our current economy, vehicle theft is on the rise. Your auto insurance is there to take care of you in all these situations. Auto Insurance not only covers damages to your car, truck or SUV in the case of an accident or theft, but it also protects the people in the car at the time of the accident.

Also, it is madatory by law in every state to carry at least a minimum amount of liability coverage on your vehicle. Typically your lender will requre proof of insurance before agreeing to your auto loan as well.

Typically, a standard auto insurance policy covers:

Property damage liability - covers any damage your car has on another person's property.
Collision coverage - pays for damages for the value of your car if you hit or you are hit by another vehicle.
Comprehensive physical damage - coverage of damage or loss of non-collision related incidents.
Bodily injury liability - protects against injuries or death while operating your vehicle.
Medical payments - pays medical expenses of the driver and all people involved in the accident.
Uninsured motorists - covers expenses of injuries or damages if your car is struck by another driver that does not have insurance of their own.
Rental reimbursement - covers payment of a rental car while your vehicle is being repaired due to an accident covered by your insurance.

With all standard auto insurance policies, there are various types of coverage options based on what best fits your needs. Each option, however, will have different limits of coverage. RateGenius offers several coverage options - Find out what auto insurance coverage option is best for you.

RateGenius offers competitive insurance pricing from several nationally recognized insurance providers, and will work to find you the best rate possible. Request a free, no-obligation auto insurance quote online or contact one of our insurance team members by calling 866-413-6768 or emailing insurance@rategenius.com.

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