Auto Insurance Basics (Part 1)

Most states require drivers to carry some kind ofby the accident. These damages include the medical
auto insurance before they will issue a carbills and lost wages of the person you injured. The
registration, so it is a policy you cannot avoid if youperson can also sue for pain and suffering if you live
own a car. The lingo of car insurance can bein a state that assesses fault for accidents. If you kill
particularly difficult to understand, but it is worthsomeone, you may also be responsible for the loss
learning if you don't want to pay excessive premiums.of income to the deceased person's family. Most
The first principle of car insurance is that your policystates require that you carry a minimum amount of
covers a specific automobile. That means you are notbodily injury liability coverage-usually between $15,000
covered when driving other cars, such as yourand $25,000. If you own a substantial amount of
cousin's jalopy, unless your policy specifically includesproperty and earn a regular income, obtain far more
them. In addition to potential damage to your carcoverage than the minimum. Because potential
itself or injuries caused by your car, your policy alsoliabilities are enormous, coverage for at least
insures the people who drive or ride in the vehicle.$100,000 per individual you harm and $300,000 for
Mainly, your auto policy covers you and your family.each accident you cause would not be excessive.
However, if you give someone else permission toProperty damage. This liability insurance covers any
drive your car, such as a friend or relative, he or shedamage that you cause to another person's property
also is covered by your policy.by driving negligently. This may include damage to
Your auto insurance is really several kinds ofanother car or other property, such as a fence or a
coverage combined in one policy. The primarytree. Because it is usually less expensive to damage
components of coverage are bodily injury, propertyproperty than to injure people, property liability is
damage, collision, comprehensive, medical payments,cheaper and generally purchased in smaller amounts.
personal injury, and uninsured or underinsuredMost states require a minimum of $5,000 to $25,000
motorist. A brief explanation of each follows.in coverage; however, you should probably obtain at
Bodily injury. If you hit someone with your car andleast $25,000 worth because today's cost of repairing
cause injury or death because you were drivingcars is extremely high.
negligently, you must pay for the damages caused