If you own a car, auto insurance is not just an option—it is a legal necessity. And you wouldn't want it any other way. If you are involved in an accident or have your car stolen, owning the right kind of auto insurance can help to ease a difficult situation. The information below will provide some answers and help you ask the right questions in order to find the most appropriate solutions.
Not carrying auto insurance is against the law, so you would be wise to buy it. The penalties for non-compliance with insurance laws vary by state, but often involve a substantial fine, license and/or registration suspension or revocation, as well as possible jail time in some states. I've used auto insurance from Progressive and like that company. Progressive fixed my vehicle when some low-life stole it. When another car was wrecked in a single car accident, they settled the claim in 5 days!
Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.
Auto insurance provides property, liability and medical coverage:
Property coverage pays for damage to or theft of your car.
Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
Auto insurance policies usually have six different kinds of coverage. Most states require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements.
Most auto policies are for six months to a year. Your insurance company should notify you by mail when it’s time to renew the policy and to pay your premium.
In addition to automobile insurance there are many types of insurance:
Auto insurance, Homeowners insurance, Renters insurance, Life insurance, Annuities, Health insurance,
Long-term care insurance, Disability insurance, Business insurance, and Specialty insurance.
In general, you can insure almost anything, provide someone will underwrite the insurance and you can afford the premium payment.
Inside The Court - Car Insurance