2 Additional Auto Insurance Coverage Policies To Consider

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Avoiding Renter's Regret: Understanding Renter's Insurance Coverage

Moving into my first apartment brought along a whole series of new experiences. I didn't realize that the property insurance my landlord carried wouldn't cover my belongings. I was lucky to find out before anything happened, and I spent a lot of time researching the difference between renter's insurance and the property coverage for landlords. I built this site to share all of the information that I learned, including the insurance coverage best practices I picked up along the way. If you're new to renting and don't have any renter's insurance, I hope the information here helps you to see how it could benefit you and what you need to do to get it.


2 Additional Auto Insurance Coverage Policies To Consider

3 March 2015
 Categories: Insurance, Blog

Purchasing auto insurance can be a bit confusing and time-consuming, mostly because of the many different types of coverage. Two additional coverage types to consider when looking for auto insurance are comprehensive and underinsured motorist.

Comprehensive Coverage

In most cases, basic insurance coverage will protect you in the event that you are involved in an accident. However, if your vehicle is damaged in a way that does not involve another vehicle, basic insurance coverage will not be able to assist you with paying for repairs or a replacement vehicle.

Comprehensive insurance coverage is designed to help you out if your vehicle is damaged in situations that are not related to an auto accident. For example, if your car is vandalized, comprehensive insurance coverage will pay for the repairs you need in order to restore the vehicle to its former condition. If your vehicle is stolen, then comprehensive coverage will ensure that you can replace the vehicle with the same make, model, and year, or its equivalent.

This type of insurance coverage will also help you if your vehicle is damaged due to a natural disaster. For example, if your car is destroyed in a fire or severely damaged by a flood, your insurance company will repair or replace the vehicle if you have comprehensive coverage. Without comprehensive coverage, you would have to find some way to repair or replace the vehicle on your own.

Underinsured Motorist

It is also very important that you consider purchasing underinsured or uninsured motorist coverage in order to protect yourself from those irresponsible people who have chosen to drive without sufficient insurance coverage. This is important because if you are struck by an underinsured motorist, his or her insurance coverage may not be sufficient to pay for your medical and repair bills, which means that you will have to pay for the shortfall yourself.

For example, if an underinsured motorist does $50,000 worth of damages in an accident and only has $20,000 worth of coverage, you will have to pay the remainder yourself. However, if you have underinsured motorist coverage, your insurance company will step in and cover the amount of damages that the underinsured driver's insurance does not.

Speak to an insurance agent, like Colling Insurance Services, Inc, to discuss which types of insurance coverage are right for you. Comprehensive insurance coverage will protect you in the event of non-accident related damage to your vehicle, while underinsured motorist coverage will protect you if you get into an accident with someone who is driving without sufficient insurance coverage.