Types Of Auto Insurance Policies You Need To Check
When considering auto insurance, there are several types of policies that provide different levels of coverage. It’s important to understand each one to ensure you’re adequately protected. First Choice Agency provides auto insurance in Queens, NY, Brooklyn, Farmingdale, Amityville, Massapequa, Ozone Park and surrounding areas. These are the most common types of auto insurance policies:
- Liability Coverage
Liability insurance is typically required by law and covers damages you may cause to other people or property in an accident. It’s split into two parts:
Bodily Injury Liability: Covers medical expenses, lost wages, and legal fees if someone is injured in an accident where you’re at fault.
Property Damage Liability: Covers damage to another person’s property, such as their vehicle or home, in an accident where you’re at fault.
- Collision Coverage
This policy pays for damages to your vehicle resulting from a collision with another car or object, regardless of who is at fault. It’s particularly useful if your car is newer or more expensive to repair.
- Comprehensive Coverage
Comprehensive insurance covers damages caused by events other than a collision, like theft, vandalism, fire, flood, or falling objects. It’s a valuable option if you live in an area prone to natural disasters or have a high-value car.
- Personal Injury Protection (PIP)
PIP covers medical expenses for you and your passengers after an accident, regardless of who is at fault. It may also cover lost wages and funeral expenses. PIP is required in some states and optional in others.
- Uninsured/Underinsured Motorist Coverage
This policy covers you if you’re hit by a driver who has no insurance or insufficient coverage. It helps pay for medical expenses, vehicle repairs, and lost wages.
- Gap Insurance
Gap insurance covers the difference between what your car is worth and what you owe on your loan if your car is totaled or stolen. This is important for drivers with financed vehicles.
Ensuring you have the right coverage can protect your finances and provide peace of mind.
Would you like to discuss? Please give us a call, or email us!