Your auto policy could have any or all of these coverages:
This first group of coverages are the Liability and Medical coverages. Each of them has a separate limit. The insurance company will not pay more than the limits shown on your policy’s declaration page for any or all of the following coverages.
- Bodily Injury Liability (BI): In general, this coverage pays for the medical bills, loss of wages, pain and suffering and death benefits of another person you injure or kill with your auto.
- Property Damage Liability (PD): PD basically fixes the things you break with your car. It could be someone else’s car or a house.
- Uninsured Motorists (UM): Protects you and the individuals in your car when someone else hits you and they they don’t have any BI liability coverage.
- Under Insured Motorists (UIM): Protects you and the passengers in your car when the driver of the other car is responsible for the accident and they have LESS insurance than you do. Then your insurance company pays the difference between the amount of coverage the other person had and your UIM limits.
- Medical: This pays for the medical bills of people in your car.
The next group of coverages are the physical damage coverages for your car. The maximum amount the insurance company will pay for your car is often the actual cash value or current market value of your car. Some insurance companies offer a replacement cost endorsement for newer cars. Each coverage has a deductible associated with it. The deductible is the portion of the claim you will pay if you have an accident. See the blog post How High should my Deductible Be for more information.
- Collision: Pays for damages to your car when you collide with another car, building, pot hole, telephone pole etc. This also applies when another car hits you. Having a collision loss does establish whether you are At Fault in the accident. That is another issue.
- Comprehensive: This coverage applies when your accident is caused by something other than collision. Examples might include hitting an animal, hail damage, broken windshield, someone steals your car etc.
Some of the Optional coverages:
- Towing
- Rental Car
- Glass Coverage
- Theft of Electronic Components
- Trailers
These discussions are for general information only. The policy language, definitions, endorsements etc. in your particular policy may differ.
Contact Us today to get a Quote or to Start a Discussion
Call us at 419-874-8055 or
Email us at rhamilton@fireflyagency.com or
Contact us by filling out the Contact Form below.
Comments are closed