Did You Know That....?
Did you know that the term "full coverage" has no universal meaning among insurance agents and/or insurance companies?
The term "full coverage" can mean whatever the insurance agent or company wants it to mean. Most individuals think that when an agent or company uses the term "full coverage" that it is universal coverage provided by any insurance company when in actuality there is no such thing. It is important to know and understand the various types of coverage you can obtain on your automobile insurance so you can create an insurance policy specifically tailored to you and your family's needs and protection.
Over the next couple of weeks, we will break down each coverage available through most automobile insurance companies to give you a better understanding of how to create an insurance policy that best suits your needs and protects you if you or your loved ones should be involved in an automobile accident.
The following is a list and brief description of the various coverages you can have on your automobile insurance policy:
•1. Liability (Bodily Injury) - This coverage is applied when you are responsible for an automobile accident and another party is injured.
•2. Liability (Property Damage) - This coverage is applied when you are responsible for an automobile accident and another party's property is damaged.
•3. Uninsured Motorist (Bodily Injury and Property Damage) - This coverage is applied to pay you when another party is responsible for an automobile accident but does not have liability coverage and you are injured and/or your vehicle is damaged. You can recover your own damages if you are injured by an uninsured motorist driver.
•4. Underinsured Motorist (Bodily Injury) - This coverage is applied when another party is responsible for an automobile accident but does not have sufficient liability coverage due to the serious injuries you sustained in the accident.
•5. Medical Payments - This coverage is applied when you are injured in an automobile accident which pays you and every passenger in your vehicle for medical expenses up to a certain amount of money (the limit) within one (1) year from the date of the accident.
•6. Comprehensive - This coverage pays for damage is caused to your vehicle as result of some other incident other than an automobile accident.
•7. Collision - This coverage pays when there is damage to your vehicle as a result of an automobile accident.
•8. Rental/Tow - This coverage is applied when your vehicle has been damaged in an automobile accident which allows you to have your vehicle towed and provides you with a rental vehicle.
Next, we will go more into the bodily injury coverage as part of your liability coverage on an automobile insurance policy.
Did You Know That....? (Full Coverage)
April 15, 2010
Did you know that the term "full coverage" has no universal meaning among insurance agents and/or insurance companies?
The term "full coverage" can mean whatever the insurance agent or company wants it to mean. Most individuals think that when an agent or company uses the term "full coverage" that it is universal coverage provided by any insurance company when in actuality there is no such thing. It is important to know and understand the various types of coverage you can obtain on your automobile insurance so you can create an insurance policy specifically tailored to you and your family's needs and protection.
Over the next couple of weeks, we will break down each coverage available through most automobile insurance companies to give you a better understanding of how to create an insurance policy that best suits your needs and protects you if you or your loved ones should be involved in an automobile accident.
The following is a list and brief description of the various coverages you can have on your automobile insurance policy:
?1. Liability (Bodily Injury) - This coverage is applied when you are responsible for an automobile accident and another party is injured.
?2. Liability (Property Damage) - This coverage is applied when you are responsible for an automobile accident and another party's property is damaged.
?3. Uninsured Motorist (Bodily Injury and Property Damage) - This coverage is applied to pay you when another party is responsible for an automobile accident but does not have liability coverage and you are injured and/or your vehicle is damaged. You can recover your own damages if you are injured by an uninsured motorist driver.
?4. Underinsured Motorist (Bodily Injury) - This coverage is applied when another party is responsible for an automobile accident but does not have sufficient liability coverage due to the serious injuries you sustained in the accident.
?5. Medical Payments - This coverage is applied when you are injured in an automobile accident which pays you and every passenger in your vehicle for medical expenses up to a certain amount of money (the limit) within one (1) year from the date of the accident.
?6. Comprehensive - This coverage pays for damage is caused to your vehicle as result of some other incident other than an automobile accident.
?7. Collision - This coverage pays when there is damage to your vehicle as a result of an automobile accident.
?8. Rental/Tow - This coverage is applied when your vehicle has been damaged in an automobile accident which allows you to have your vehicle towed and provides you with a rental vehicle.
Next, we will go more into the bodily injury coverage as part of your liability coverage on an automobile insurance policy.
Topics
Did You Know That....?
Did You Know That....? (Comprehensive)
Did You Know That....? (Liability - Bodily Injury)
Did You Know That....? (Medical Payments
Did You Know That....? (Underinsured Motorist)
Did You Know That....? (Uninsured Motorist - BI & PD)
Did You Know That...? (Liability - Property Damage)
What to Do in An Auto Accident (Photos)
What to Do in An Auto Accident (Witnesses)
What to Do in An Auto Accident (Witnesses)
Recent Updates
June 03, 2010
What to Do in An Auto Accident (Photos)
May 24, 2010
What to Do in An Auto Accident (Witnesses)
May 06, 2010
Did You Know That....? (Collision)
May 06, 2010
Did You Know That....? (Comprehensive)
April 28, 2010
Did You Know That....? (Medical Payments
