Most people get excited when buying a brand new car, but not when purchasing auto insurance for their vehicle. Under federal and state transportation laws, car owners are required to get automobile insurance for their vehicles before they are legally allowed to drive. If you just bought a car and you’re still thinking how these policies can help you, here are some facts:
- It can help you pay for unexpected expenses.
- An automobile insurance policy can protect you from liability.
- You can get discounts for getting an auto policy.
- Having car insurance enables you to claim compensation from the liable party.
These are just some of the benefits you can get from purchasing an automobile insurance policy. You may now be getting excited on purchasing insurance, but there is still one thing you need to know – not all policies are beneficial. To give you a larger view of the picture, here are the different automobile policies and their functions:
- It can help you pay for unexpected expenses.
- An automobile insurance policy can protect you from liability.
- You can get discounts for getting an auto policy.
- Having car insurance enables you to claim compensation from the liable party.
These are just some of the benefits you can get from purchasing an automobile insurance policy. You may now be getting excited on purchasing insurance, but there is still one thing you need to know – not all policies are beneficial. To give you a larger view of the picture, here are the different automobile policies and their functions:
- Liability coverage – This is the basic and required form of coverage in the country. If you get into an accident and you were at fault, liability coverage will provide financial assistance in paying for the other party’s expenses.
- Physical coverage – This type of coverage pays for your own damages regardless of fault.
v Collision – This type of physical coverage pays for your repair costs if the cause of the accident was a vehicle collision.
v Comprehensive – This policy will reimburse your repair expenses if the accident was caused by vandalism, weather, etc.
- Uninsured and Underinsured Motorist (UM) coverage – This type of automobile policy will finance your expenses if the party who caused the accident is an uninsured driver.
These are some of the common automobile insurance policies in the market today. Take note of their functions and determine if they can be helpful for your situation or not. Purchasing all of them is not really a practical idea. Aside from paying more premiums, you may not be able to use their benefits at all.
Purchasing automobile insurance is like getting your own car. You should study its functions, conditions, and the benefits it can give you before you choose it. However, having an auto insurance policy does not mean that you can do whatever you want on the road because your vehicle is already covered. If you get into an accident and injured someone, your premiums and rates will certainly go up. To know more information regarding auto accidents, insurance policies and compensation, you can talk to a Los Angeles accident attorney.
The Mesriani Law Group has a wide range of legal resources as we work with the best lawyers and litigators in each state across the United States. We offer a unique attorney directory where you can find a lawyer's location and area of practices. For more information contact Mesriani Law Group at 310-826-6300 or visit the main office at 12400 Wilshire Blvd. Suite 810 Los Angeles CA 90025.
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