Insurance Marketplace, Inc Blog
Like business insurance, car insurance is also important to help cover expenses for car owners when unfortunate events like accidents happen. Car insurance is required in almost every state, and there are many advantages to purchasing car insurance.
How much should one spend on car insurance?
Different car insurance coverages have to be considered to determine how much money should be allocated for car insurance. In doing so, potential clients would know what kind of car insurance coverage they would need and what would be worth the money. These different car insurance coverage types are:
Liability Car Insurance
This type of car insurance coverage is responsible for any expenses - vehicle damages or hospital bills of another party when accidents happen. This coverage can also protect a potential client from lawsuits when another party decides to sue.
Uninsured Motorist Coverage
This type of car insurance coverage is for drivers who do not have liability car insurance. Uninsured motorist coverage and underinsured motorist coverage can pay for a driver’s medical bills and funeral expenses just in case.
Collision and Comprehensive Insurance
Collision insurance covers repair bills for accidents that occur involving crashing into another car or to certain objects. Comprehensive insurance helps pay for a potential client’s car when it is stolen. It also helps pay for repair bills when the vehicle is involved in accidents because of fires, floods, and theft.
Personal Injury Protection
This type of coverage is required in most states, and it is responsible for paying the medical bills of passengers regardless of who caused the accident. PIP covers the following:
Medical Payments Coverage
Otherwise known as “Medpay,” this also covers medical expenses regardless of who caused the accident. This type of coverage is not, however, available in every state.
Smart Ways to Cost-cut Car Insurance
Some tips can help potential clients maximize their money and arrive at the right car insurance plan.
At Insurance Marketplace Inc., we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (541) 779-0177 or Click Here to request a free quote.