No one wants to be victims of property damage resulting from rioting, and fortunately, auto insurance companies already have provisions for this risk in their coverage options. In fact, there is no need to purchase separate riot, vandalism and civil commotion coverage; if you have comprehensive auto insurance, you most likely have this coverage.
Uninsured and underinsured motorist coverage is used when you are hit by a driver that has insufficient coverage or no coverage at all. This optional coverage helps to compensate you for damages, up to your policy limit.
Renter’s insurance covers your personal property. If your property is damaged due to a covered peril such as a fire or theft, then you are compensated for your loss up to your policy limits. There are a variety of risks and events covered by renters insurance.
Gap insurance is optional auto insurance coverage that covers the difference between the actual cash value (ACV) and the amount owed on the loan of your car if your car is totaled or stolen. Standard auto insurance covers the current depreciated value of your car.
If all you have is a standard salvage title, it can be extremely difficult to get insurance since the car is not deemed legal to drive. It’s recommended that you first get the rebuilt title then work on getting some level of auto insurance coverage.
If you own a unique, sports, or exotic car, your driving habits are probably considerably different than most drivers. It makes sense, therefore, that your auto insurance coverage should be different as well. Your auto insurance company uses a vehicle’s make, model, horsepower, size, weight and number of cylinders to classify it as a sports or exotic car.
Umbrella insurance is a special type of insurance coverage that protects you from lawsuits and claims that go beyond the limits or scope of your other liability insurance. It protects your assets and your financial outlook by extending the liability coverage on your homeowners, renters, auto or boat insurance when your limits are exhausted.
Many people don’t recognize the value of life insurance and health insurance until they actually use it and may even think they can work around high medical or funeral expenses.
For many, auto insurance is a significant monthly expense. In some cases, you may be tempted to get rid of the payment entirely by foregoing auto insurance coverage. However, doing so can have some serious negative consequences.
Your auto insurance needs are unique, and your policy should be also. Knowing the right questions to ask your auto insurance agent as you’re building a policy can help ensure that you get great coverage at a great price.