Are you in the market for a new car or just looking to switch auto insurance to save money? Before you rush off and make a quick decision take the time to read this helpful article to understand the coverage of a policy.
For most new cars you will want and probably be required to carry comprehensive insurance. Comprehensive insurance covers repairs to your vehicle in the event of an accident, but also will insure you if your car was stolen. This is by far the best insurance you can have as it will also cover you if you were in an accident which was caused by the other party.
Collision usually will only insure damages to your car or the other party's car as a result of an accident.
Usually for older cars that do not have much value you can get by with liability coverage. Liability coverage will typically only cover the other party's repairs for the damage of their car.
What is a deductible? Well the deductible is the amount of money you would be required to pay out of pocket before your insurance company will cover any damages. For example, if the damages only resulted in $500 of repairs and your deductible was $1,000 then your insurance company would deny the claim as you would be responsible to pay for the repairs on your own.
Just knowing this little bit of valued information can help you when discussing your policy and hopefully help you save money.
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