Types of car insurances

by Dominic Ortiz | May 30, 2018 7:07 am

If you want to own a car or any vehicle for that matter, which you want to drive legally on the roads and highways, you need to make sure you have a car insurance. Car insurance policies differ from state to state, therefore before buying a car, truck or motorcycle you will need to contact your State Department of Transport for more information.

In this section, we will enlist the basic types of car insurances which you can acquire, either as a whole or as an addition to your basic policy. Should you need more information on which policy fits the best to your needs contact good to go insurance[1].

Casualty insurance/minimum liability coverage:

This is rather an umbrella term that’s defined differently in each state, but commonly it means a minimum liability coverage that covers property, health insurance, and life insurance. Casualty insurance is also simply referred to as Automobile insurance. It offers basic coverage in the event of an „at fault” accident. The insurance can also be used to cover medical expenses related to an accident. If we talk about compulsory insurance it’s the minimum liability insurance which most drivers need to hold. Good to go insurance is here to help you with your state laws concerning car insurance policies

Combined single limit coverage

This insurance policy is almost equal with the casualty insurance but it more so combines the coverage of property damage and bodily injuries into one policy. This policy is especially useful in accidents when the driver having combined single limit policy can be held at fault.

Split limit liability coverage

This insurance is also similar to combined single limit policy but its coverage can be split into two main categories. Coverage for damage and coverage for injuries. In this insurance also specifies the limits of payments such as minimum payment per person and maximum payment per accident. There are several states which have minimum requirements towards the coverage of damage and injuries. You may need to check the minimum coverage expectations according to your state.

Rental coverage

First of all, you will need to check if your liability coverage actually provides coverage in the case of rental cars.  Good2go auto insurance will be more than happy to assist you with this. Also, car rental companies generally offer their cars with an additional insurance policy.

Full/comprehensive coverage

This is a term that generally means, that an insurance includes liability and collision coverage, however, the package can be offered with different policies and additional services which largely depend on the insurance company and on the state where it’s offered. Many credit companies may require the buyers to have a full coverage insurance on the car which they get a credit for. But this law can also differ according to the credit company and state laws.

Collision: This is a policy that specifically focuses on damages endured in collisions, therefore, it covers the expenses of cars involved in collisions. The collision coverage is also subject to a deductible.

Uninsured motorist coverage:  the most basic coverage for those riding a motorbike. Although not an insurance per se, it can still give some coverage in the case of accidents.

Endnotes:
  1. good to go insurance: http://goodtogoinsurance.net/

Source URL: http://betacash.org/types-of-car-insurances/