Insurance
you have three basic setups:
1.)liability
2.)comprehensive
3.)full
I'll do my best to break them down, but I don't know all the facts so take it and do a google search just to be sure, but Im PRETTY sure this is how it works.
liability-The most basic and cheap way for insurance. Basically it covers you if you have CAUSE an accident. It will not cover YOUR stuff, only the person you hit, and their med. bills. It may cover yours, but this is where I suggest googling, or contact an insurance agent.
for comprehensive/full I found this:
Collision Insurance
Collision insurance coverage pays for damage caused to your vehicle in an automobile accident, when you are "at fault". A standard collision automobile insurance policy will pay for any repairs up to the fair market value of your car.
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It is important to remember that this value can be significantly lower than the cost of replacing your vehicle (or your loan balance.) If your car is financed or leased, you will need gap insurance to reimburse you for the difference between what you owe and what the car is worth.
Collision coverage usually also comes with an insurance deductible. It's the amount of money you pay toward repairs before your collision insurance kicks in. The higher the deductible you're willing to pay, the less the collision policy will cost.
Collision insurance coverage is not required by law in any state. However, if you're driving a car purchased from a dealership or financed through a lender, you may be required by the dealership or lender to carry collision insurance. (And just to be sure, you should get gap insurance.)
Comprehensive Automobile Insurance
Comprehensive is very similar to collision insurance, the main difference being that comprehensive covers damage caused to your vehicle caused by any unknown party or "act of God".
Vandalism, flood, hurricane, theft, and fire are all events usually covered by comprehensive automobile insurance. (But make sure to read your comprehensive insurance policy for exact coverage details.)
Like collision automobile insurance, comprehensive coverage will pay up to the fair market value of your car (less your insurance deductible.) And although it's not legally required by any state, you will probably need it if your car is financed.
Hot tip: Your collision and comprehensive automobile insurance policies are two places where it can be pretty easy to cut costs. Read our guide to choosing car insurance for money saving strategies!
pulled from http://www.autoinsuranceindepth.com/optional-coverages.html
1.)liability
2.)comprehensive
3.)full
I'll do my best to break them down, but I don't know all the facts so take it and do a google search just to be sure, but Im PRETTY sure this is how it works.
liability-The most basic and cheap way for insurance. Basically it covers you if you have CAUSE an accident. It will not cover YOUR stuff, only the person you hit, and their med. bills. It may cover yours, but this is where I suggest googling, or contact an insurance agent.
for comprehensive/full I found this:
Collision Insurance
Collision insurance coverage pays for damage caused to your vehicle in an automobile accident, when you are "at fault". A standard collision automobile insurance policy will pay for any repairs up to the fair market value of your car.
Sidebar
It is important to remember that this value can be significantly lower than the cost of replacing your vehicle (or your loan balance.) If your car is financed or leased, you will need gap insurance to reimburse you for the difference between what you owe and what the car is worth.
Collision coverage usually also comes with an insurance deductible. It's the amount of money you pay toward repairs before your collision insurance kicks in. The higher the deductible you're willing to pay, the less the collision policy will cost.
Collision insurance coverage is not required by law in any state. However, if you're driving a car purchased from a dealership or financed through a lender, you may be required by the dealership or lender to carry collision insurance. (And just to be sure, you should get gap insurance.)
Comprehensive Automobile Insurance
Comprehensive is very similar to collision insurance, the main difference being that comprehensive covers damage caused to your vehicle caused by any unknown party or "act of God".
Vandalism, flood, hurricane, theft, and fire are all events usually covered by comprehensive automobile insurance. (But make sure to read your comprehensive insurance policy for exact coverage details.)
Like collision automobile insurance, comprehensive coverage will pay up to the fair market value of your car (less your insurance deductible.) And although it's not legally required by any state, you will probably need it if your car is financed.
Hot tip: Your collision and comprehensive automobile insurance policies are two places where it can be pretty easy to cut costs. Read our guide to choosing car insurance for money saving strategies!
pulled from http://www.autoinsuranceindepth.com/optional-coverages.html
posted by Dave at 9:52 AM
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