A road car accident is a distressing experience. The most distressing part is when you find yourself short of money to pay for hospital and repair bills. The anxiety of thinking where to find money is reason enough to make sure you always have car accident insurance coverage.
You can choose a comprehensive car insurance policy or a limited coverage policy. However, first, try to know the differences between the two. A comprehensive policy offers liability, personal injury and collision coverage. Liability coverage pays all losses to other people if you caused the accident. These include medical bills, wage loss, and damage to property. Personal injury coverage pays for your own medical expenses and the expenses of the injured passengers of your car. This coverage pays no matter who is at fault. Collision coverage takes care of damages sustained when your car collides with other cars or objects.
A limited car accident insurance coverage policy will not have all three. The liability coverage is mandatory so it can be the main feature of the policy. You can have a choice of adding either the personal injury or collision coverage.
You may think you do not have to worry about medical or repair job bills once you have a comprehensive policy. It all depends on the amount of coverage. If the medical bills exceed the maximum amount stated in the contract, then you pay the excess.
Surely, you can see the advantages of choosing comprehensive car accident insurance coverage. However, there are several things to consider before making the final choice. You must consider premiums.
Two identical car insurance policies can have different premiums. This is because rates are influenced by several factors. Some of these factors include age, gender, driver’s record, car type, driving pattern, and car location.
Insurance companies put a lot of weight on age and with good reason. Records reveal that people 30 years of age and below are more likely to get involved in accidents than those aged above. Women are careful drivers and get involved in accidents fewer times than men. The location and use of the car are risk factors. Cars extensively used have more chances of meeting accidents compared to cars seldom used. Cars parked in areas with high crime rates have good chances of figuring in on accidents.
Even though competition among insurance companies is stiff, which tends to lower premium rates, car accident insurance coverage is still expensive. However, there are ways to lower it to tolerable levels. You can take advantage of various discounts companies offer to entice customers. An agent will know about them.