Month: April 2018

There are many types of auto insurance available today. Deciding what kind you need can be a little overwhelming.

How do you know what type, or types, of coverage you need?  Do you know what types of insurance are required in Ball Ground, GA? Once you know the answers to these questions, you’ll also want to look for ways to save money while still maintaining the appropriate coverage for your auto as required by law.

Five Type of Auto Insurance

Here are the five types of auto coverage available to you.

1.  Liability Insurance

Liability insurance is a type of auto insurance that will cover you if you are in an accident that is determined to be your fault. 

This type of insurance covers the costs of repairs to the property that was damaged during the accident, as well as the medical bills for any injuries that were caused by the accident.  Your state will typically have a minimum requirement for the amount of liability insurance that you must have.

However, when it comes to liability insurance, it is advisable to have more than the minimum required. The extra coverage offers you the protection you need if you are ever at fault in an accident. This extra coverage could keep you from having to pay out of pocket.

2. Collision Coverage

Another type of auto insurance is collision. Collision coverage pays for repairs to your car if you are in an accident. If the car is totaled, collision coverage will actually give you the value of your car, so you can purchase another vehicle. If you have a newer model, this coverage can be extremely valuable.

Lien holders often require this type of coverage. 

3. Comprehensive Coverage

Comprehensive coverage will cover your car if something happens to it that is unrelated to an auto accident. This can include things like weather damage and theft.

4. Personal Injury Protection

Another type of auto insurance that you hear a lot about is PIP. This is ‘Personal Injury Protection’. 

Personal injury protection is definitely a ‘must have’ when it comes to auto insurance.  Since the costs of an auto accident can add up quickly, you want to make sure you are protected.  With PIP coverage, medical bills and partial wages lost (both yours and any passengers) will be covered, no matter which party is at fault. 

In Minnesota, the minimums for PIP are $30,000 per covered person, $60,000 per accident in liability coverage.

5. Uninsured or Underinsured Motorist Protection

Finally, you can add uninsured or underinsured motorist protection to your current policy.  While it is the law to have auto insurance, not everyone follows the rules. If you get into an accident with someone who has no insurance, uninsured motorist coverage will protect you. 

Additionally, the coverage requirements in some states are very low; if you were to get into an accident with an ‘underinsured’ motorist, this coverage would protect you, as well.

This means if you get into an accident, and the other party does not have the insurance to pay for the damage, you will be covered. 

This is typically a very inexpensive type of coverage and should definitely be added to your policy. It can save you a great deal of time, money and stress. 

Have questions about car insurance? Contact The Sanford Group in Ball Ground, GA today.