If you own or drive a car in Raleigh or Cary NC, you are required to have auto insurance coverage, both as protection for yourself and for your family and other drivers. Car insurance, along with motorcycle insurance can pay for the cost of repairs, medical bills of you or your loved ones and other expenses that may arise as a result of an accident or a natural disaster involving your car. The right type of coverage, like what Insurance Doctor covers, will help you avoid paying for losses or damages out-of-pocket and protect your assets in case of a lawsuit.
Different Types of Auto Insurance Coverage
Liability insurance provides coverage for accidents where the driver is determined to be at fault. This type of coverage offers protection to cover cost of repairs in case of damage to property, and cost of medical treatment in case of injuries that result from the accident. Most states impose a minimum requirement for liability insurance, but it is recommended that car owners carry coverage higher than the required limit for extra protection.
Collision coverage will help pay for the cost of repairs in case of an accident. If the car is declared a total wreck, this type of coverage will pay for the value of the vehicle. Collision coverage is best for newer car models and high-value vehicles. Older or low-value cars are usually not worth the extra cost of buying collision coverage.
Personal Injury Protection
Personal injury protection or PIP offers coverage for medical expenses that you and/or your passengers may incur in case you are involved in a covered accident. As a “no-fault” type of coverage, PIP will provide payment regardless of who caused the accident.
Comprehensive coverage is insurance coverage protection for the vehicle in case of a non-accident, such as theft, vandalism, fire, natural disaster or bad weather. Comprehensive coverage can help you pay for the cost of repairs or replacement. While expensive, it can provide much-needed financial support in case of problems that may occur and is especially recommended for drivers and car owners who live or travel in areas where their vehicles are at higher risk of loss or damage.
Uninsured or Underinsured Motorist Protection
Uninsured and underinsured motorist protection is coverage specifically offered to protect drivers from other motorists who either do not have insurance or do not carry sufficient coverage to pay for the cost of loss or damage. This type of coverage can provide protection against medical expenses and lost wages. The driver and passengers will also be given coverage in case of a hit-and-run accident.
Finding Affordable Car Insurance
Depending on certain factors, car insurance premiums can take a big chunk out of your regular budget. Fortunately, there are strategies for finding affordable car insurance. If you haven’t bought a policy yet, or are planning on buying a new one, compare several premium quotes from online sites. Many companies also offer discounts to car owners under certain circumstances. Older drivers (typically those 25 years old or older), for example, can enjoy lower premiums than younger drivers. There are also discounts available for those who have recently installed an anti-theft device and those who have maintained an excellent driving record. Insurance companies also offer lower premiums for new car owners and those who drive low-risk cars. There are also cheaper car insurance policies for drivers who insure multiple cars and other properties with the same company.
Finding the Right Car Insurance Company
An auto insurance company should be able to provide you with sufficient support and protection when and if you need it. To find the best insurance company, make a list of the following:
Your Wants and Needs
Understand what type of coverage you need based on your work, family, lifestyle, and preference. However, be prepared for what comes with your choice. If your main goal is to find cheap car insurance, for example, you may not get enough coverage to protect you when you need it most. Although affordable car insurance is a priority among car owners, consider your needs carefully. Cheap car insurance may seem attractive now but it may end up costing more in the future especially if you have children that you want cared for in the event of an emergency.
Reputation and Financial Capability
Car insurance companies earn their good reputation by doing their job well and delivering on their promises. Ask for referrals from friends and trusted acquaintances, or look for top-rated insurance companies online and take note of their clients’ reviews. Check the company’s background and make sure they have a license to sell insurance in the state where you live. Since insurance companies have to pay their clients in case of damages, they should be financially capable as well. Check their financial standing through online sites such as AM Best and JD Power. The more information you have, the better decision you will make.