For a person to drive legally in any state of the country, it is imperative to have a valid auto insurance coverage. This coverage, though a mandate as per the law of every state, has many benefits in store even for us too. It is worth every dollar that you pay in order to avail the car insurance policy. Let us quickly take a look at how we can benefit from the policy.
Bodily Injury Liability- This benefit covers legal costs and any personal injury claims that could be filed against you in the event of an accident, especially if someone has been killed in the accident and you are found to be the guilty party. People have been known to sue in the millions for the death of a family member caused by vehicular manslaughter. This benefit can save you a lot of money and protect your financial stability.
Property damage Liability- This benefit will cover any other legal costs and damage costs associated with the loss of property caused by the accident. This, as well, will save you a lot of money if the accident is deemed to be your doing.
Medical Payments Coverage- This will cover the paying of medical expenses that are caused due to injuries resulting from the accident. This coverage applies even if the person with this type of coverage is injured while in the vehicle of another person.
Uninsured/underinsured motorists- This benefit will protect you in the case that the other person involved in the accident does not have insurance, or only has a small amount of insurance. This is a fear a lot of us face in a collision that the other person is without/lacking sufficient insurance to cover the costs incurred. This coverage will put that fear to rest and give you peace of mind.
Comprehensive coverage- This is a benefit that will cover your vehicle in the case of grand theft auto or in the event of a natural disaster. The auto insurance provider will pay for the vehicle or any damages it may have received.
Collision Coverage- This benefit is just as it sounds. In the event another car hits yours, or if you hit another object or a…person even. It will pay for the damages that occurred or for the vehicle itself if it has been totaled.
You may also have an auto insurance policy which will allow you to get a discount on an anti-theft device so that you can avoid having your car stolen.
You may also be able to join an auto club with your policy. This will come in handy if your blow a tire or your car just breaks down and you lack the mechanical skills or tools to fix it. Instead of waiting for family or friends to come pick you up, you can simply call your auto club and get a lift as well as a tow truck to the garage.
Auto insurance companies also offer a lot of other benefits to auto insurance premium holders. It just depends on how much you are willing to spend and what they have to offer you. In the end, the more insurance and benefits you have, the better. It will safe guard you against mounting medical and lawyer fees and repair bills. A good auto insurance policy will contain a lot of benefits to safe guard your financial stability, after all that is the real reason any of us have auto insurance.