How to keep your auto insurance premium low ?

When it comes to your auto insurance a few different things can make it go up. Some of the most common are tickets, and accidents. We can’t always prevent an accident; however, you can do many things to prevent a ticket. If you have a tendency to speed, set cruise control if it is available in your car. Make sure everyone is wearing a seat belt. Make the rule of no open containers in your car. If someone might be tempted put alcohol in the trunk out of sight.

Another thing could be the type of coverage you have that can make your premium higher. If you have full coverage you’re going to pay more. If you don’t need full coverage, change it to liability coverage. That way you are still covered but it won’t be so expensive.

One big thing when having a high premium is if you have a new driver. Speak with your auto insurance agent, and they may suggest that you put them as an occasional driver on one of your cars depending on how often they will be driving and this will help the cost stay low. Also keeping their insurance on your account will help keep their out of pocket costs down.

Auto insurance bills can be high for numbers of reasons. One may be points against your license. You can get points against your license for several things, make sure that you are aware of what they are and how to prevent that from happening to you. Running a stopped school bus is a huge one.

Some of the things the insurance carrier might consider that can affect your premium additional to what I already mention would be the type of car you currently drive, the location of the driving, your driving record and your credit history.

When wanting to lower your premium you can see about coverage on multiple vehicles at once, ask about a discount for good students, you can also see about reducing your average driving. This can lower the premium as well if you don’t use the car as often by carpooling to work and so forth.

If you’re considering buying a new car speak with your auto insurance agent first so your premium don’t go up. They might have suggestions like buying a used car so all you would need is liability instead of full coverage. If you are going to be making payments you have to have full coverage on the car. If you were to purchase one that was used and don’t have to make payments you can get away with just the liability on the car.

Depending on your deductible you may also have to pay a higher premium each month. Requesting a higher deductible means a lower premium. Also, if you get all the extra coverage not required by the state this will increase your premium as well.

Your age, sex, and marital status can also affect your premium. Statics say that you have a higher risk of getting in an accident when you’re under 25, especially the young, single males, so that makes your premium higher.

There is a lot to consider that can alter the amount you pay each month on your car insurance. If you don’t need the extra coverage just don’t get it. Also try to stay away from tickets and accidents. If you know you’re going to do a lot of driving try and seek alternative ways to lower that as well. For the new drivers see about the good student discount, and some states provide classes that can help keep your cost down.

Health insurance could also be a factor for some insurance policies and this could make your rate higher. If you have a possibility of something happening behind the wheel the insurance provider may not give you some discounts.

The biggest thing about your premium could be just who you go through to get the insurance. You might find it cheaper to go through someone out of state instead of local to your area. Just do your research and see what is best for you when it comes to keeping your premium low each month.

Posted in Auto Insurance

7 myths and facts about Life insurance you must know

People buy life insurance for an assurance that the beneficiaries will obtain financing sufficient for their living standard when the policy holder passes away. The beneficiaries refer to the individuals designated to receive the money coming from life insurance policies after death. It is called as the death benefit.
Aside from these concepts, there are still other things to know which are the facts and myths about life insurance. Many people tend to have different understanding or interpretation of particular information. This time, you are going to learn about life insurance myths and facts.

Myth 1: You do not need life insurance since you are just a stay-at-home parent.
This is not true because stay-at-home parents are typically working hard for their family. They do all the cleaning, cooking and laundry. If they die unexpectedly, it will be hard for their spouse to pay somebody else to do the same services for their family.

Myth 2: All people should buy life insurance.
It is tricky but this is false information. You do not need this insurance when your asset value pays off your debts, covers funeral expenses including the costs of estate settlement. It may be true in theory, however, it is not the case for many people.

Myth 3: Only breadwinners can avail life insurance.
It is actually one of the most common mistakes. For single and young, life insurance pay outs involve cost of estate settlement, funeral expense, and unpaid medical bills that might be left behind. For those who are married with no children, their partner will rely on the joint income in order to pay for the debt and maintain the living standards that they are accustomed to.

Myth 4: Investing money is better than paying life insurance premiums monthly.
The life insurance policy pays out the entire benefit amount right away, even though you only pay premiums for one year. Thus, when unexpected things happen and you passed away, you know that your family will be safe and worry free from great financial priorities.

Myth 5: You do not have to think about your life insurance policy after buying one.
Other people commit this wrong perception about buying life insurance policies. The benefit amount of the life insurance has been computed based on the liabilities and assets during the time you bought the cover. The circumstances change while other changes affect the cover amount needed. Some of the situations in which it applies are marriage, divorce, and birth of your child. Thus, you should review the policy every six to twelve months or every time such changes take place.

Myth 6: My kids need life insurance
Life insurance is meant to financially help the dependents( including children, spouse, parents etc) of the deceased. And since generally children do not earn, it’s generally recommended to insure parents with life and disability insurance.

Myth 7: Invest three-to-four times your income in life insurance
This is another myth that many people believe in. Please be aware that you can withdraw at max five percent per year from the life insurance proceeds, as per Life and Health Foundation of America. This amount may not be enough for your dependents ones.


When it comes to the number of beneficiaries to designate, you may include one or more. Make sure that you can successfully divide your money especially when you got more than one. Try to select a contingent or secondary beneficiary to get the money just in case your primary beneficiaries passed away before you. Keep in mind that life insurance is not all about investment. It is about paying the guaranteed benefit of death.

Posted in Life Insurance

Life insurance basics

Life insurance has been providing a tool designated for risk management which is about dealing with the possible risks of losing of life. It handles the uncertainties of a party by means of transferring a certain risk (death) into the other party (insurer). This offers restoration of a great economic loss by an insured individual including the dependents.

Life insurance has been derived from some basic principles applicable to all kinds of insurance. Most Americans reported that they did not buy life insurance due to the reason that they got other financial concerns at the moment.

In today’s era, it has become very important to purchase life insurance in order to guarantee your family’s survival after your death. It greatly helps your dependents financially; for example, with the basic things like paying off mortgage, education fees etc. after you are gone.

Life insurance can be used in the following situations:

  • Creating an estate
  • Securing a credit line
  • Providing a death benefit
  • Paying estate taxes
  • Funding a buy-sell agreement
  • Giving to charity
  • Equalizing an inheritance
  • Providing income to the survivors
  • Guaranteeing future insurability
  • Providing benefits to employees
  • Protecting the business from financial loss
  • Paying funeral as well as last expenses
  • Supplementing retirement, college and even other expenses
  • Paying debts and mortgages

There are actually four major types of US life insurance and here they are:

  • Term Life – This life insurance does not have cash value and with coverage need of temporary period of time of 10 to 30 years.

  • Whole Life – its coverage needs is lifetime with guaranteed cash value and fixed premium flexibility.

  • Guarantee Universal Life – In this type of insurance, the interest crediting is set by the insurance company and it has an up to lifetime coverage needs and flexible premium flexibility. It has a guaranteed death benefit of lifetime coverage or it is “dialled down” to all coverage lengths.

  • Index Universal Life – It has also flexible premium and up to lifetime coverage needs. The interest crediting rate may be linked into the index percentage change.

Depending upon your financial condition and needs, you may decide to avail one of the aforementioned life insurances.  Once you have finalized the type of life insurance you want to go with you can search and compare  the best life insurance quotes here.

Generally, following are the steps involved in availing the life insurance of your choice:

1> Decide upon the type of life insurance you want avail

2> Search for the life insurance providers who offer the best life insurance ratefor your situation.

3> Schedule the medical tests with the provider; this generally involves checking your blood pressure and cholesterol apart from the other things. Try to schedule it early in the morning to get the best results.

By simply understanding the basics of US life insurance, the process of availing one is smooth and efficient.

Posted in Life Insurance

Everything you need to know about Renters Insurance

Some people prefer to rent an apartment and other property because they think apartment renting is more accessible and convenient that owning a residential or commercial property. There are also some people who are renting their property because they are still saving to buy and own their property.

So, if you are renting your property, it is important that you understand renters home insurance. Understanding well all the things about renter’s home insurance can help you acquire relevant information about renting a property. Tenants need to ensure that the property that they are renting properties under renter’s home insurance. Renter’s home insurance is indeed an important insurance policy that can empower that will benefit both tenants and owners. To get renter’s home insurance can give sense of protection and assurance.

What is Renters Home Insurance?
Renter’s home insurance is a type of renting insurance policy. It is a type of renting home insurance that can provide great benefits to all home owners who renting their properties. Renter’s home insurance does not cover coverage about dwelling. It includes liability renter’s home insurance. All the personal properties of tenants are covered of renter’s home insurance against vandalism, burglary and fire. Owner of the building are required to insure it but they do not have full responsibility to tenant’s personal belongings and properties.

Who needs Renters Home Insurance ?
Renter’s home insurance is an important requirement so that you can lease or rent a certain property. Most of landlords prefer to have tenants with renter’s home insurance. Tenants must acquire renter’s home insurance because some property owners require their tenants to get and hold renter’s home insurance. If a tenant destroys or damages the property, other tenants and property owners can regain back total amount of the property that they lost through the renter’s home insurance of perpetrator. Landlords of properties require their tenants to hold renter’s home insurance because renter’s home insurance informs property tenants that property owners do not have liability for their personal properties. Renter’s home insurance is good for both tenants and owners.

What does it cover?
It is important that tenants and landlords understand well coverage of renter’s home insurance. Coverage of renter’s home insurance may vary in accordance to your renter’s home insurance policy and agreement. In general, there are three types of renter’s home insurance coverage such as personal property, personal liability and loss of use. It is very important if renter’s home insurance holder follows all the guidelines and policy so that when he or she will claim renter’s home insurance benefits.

Is it worth it buying Renters Home Insurance?
To buy renter’s home insurance is a smart choice that tenants must have so that in case of some incidents that caused destruction to property, tenant, other property tenants and landlords can acquire sense of assurance that they can regain back total cost of lost properties. Renter’s home insurance is beneficial for both landlords and tenants. So, if you are a tenant, you must get renter’s home insurance. If you are a property owner who allows property leasing, it is important that you require your tenants to get renter’s home insurance.

Posted in Home Insurance

Home insurance basics

What is US home insurance?
Home Insurance is a brand of property insurance that allows for home owner or dwellers to secure the property and the content of the property against a list of disaster or loss that might arise. This insurance covers for damages caused by natural disaster, fire, water, accident etc. here in the United State, it is a common occurrence for home buyers borrow money in the form of a mortgage loan, and the mortgage lender often requires that the buyer purchases homeowner’s insurance as a condition of the loan, in order to protect the bank if the home is destroyed. Generally, home insurance coverage financially protects your home in case something were to happen to it

The benefits of the home insurance
The basics of the benefits of having your home secured is the peace of mind that comes with it. The frantic fear and panicking that accompany an accident or loss of personal belongings can be laid to rest with ease. Like every other insurance package the benefits are always visible to all eyes. The benefits include but not limited to your accessibility of mortgage for your home to finance other pending financial needs. Home owner insurance will cut back on the level of stress that you have to deal with when it comes to the condition of your home. Your insurer will also come to your aid in liability arising from your home. Your homeowner’s insurance will also cover any personal property that is damaged.

Types of home insurance
Choosing the right home insurance plan will not be a difficult thing to do if you understand that there are different type of home insurance. The varied types of home insurance has characteristic feature that distinguishes them and so is the complexity of its cover. The Home insurance type ranges from the very basic home owner insurance plan which covers for dwelling and personal property against damages and theft. However, this type of home insurance is characterize with limited cover while the Basic Older Home Coverage plan covers actual cash values or repairs in rebuilding cost and personal property where in this is designed for older house or so called historical house. It is a comprehensive cover. In between the basic cover(limited cover) to the Basic older home cover(comprehensive plan) there are varied degree of characterization and cover limit. You might want to ask your insurer for the type of home insurance they offer and the limit of each plan.

Who needs home insurance?
You need a home Insurance as long as you live off the street. The only genuine excuse for not catching in on the very many benefits of home insurance is to claim to be a destitute. You can file for home insurance even if you do not own the house you live. All you need do is talk the terms with your landlord and get secured. If you are a home owner (i.e. a landlord), getting insured is almost mandatory, especially if you hope to get mortgage for the house in the future

How to buy home insurance and file a claim for home insurance
It is quite obvious that the first consideration in getting your insurance might be to consider the quote in different term. However, one error that might end up to cost you more than bargain is to consider the price of the coverage alone. This have often lead to a disastrous experience with must home owners trying to insure their house. This is so because it has been found that the cheapest quote is not necessary the best quote.
The first crucial step toward buying home insurance is to ensure the legitimacy of the insurer.

Contact the local regulatory body in your area to authenticate the legal operation of the insurance company before signing up with them. You also need to consider the terms and conditions applied. At insurance2buy.com you can find the topmost renowned home insurance providers without any hassles.

More so, you need to be clear on the deductibles, the initial premium coverage and the special exclusions. When other things are equal, then the price of the quote is the final decider.

Filing your claim will definitely be an easy aspect of all you need to do as regards your home insurance cover, provided you are meticulous while choosing the insurer. The logical step will be a make a detailed documentation of the damaged or loss item. You might sometimes need a police witness to confirm the claim, but not all insurance company are bothered with this as they have their team of investigator that will verify your claims as when due.

How well you get the best out of your home insurance depends on how best you use this information at your disposal

Posted in Home Insurance

Health insurance options for low-income families

Health insurance is primarily designed to protect you and your family against possible risk of sickness and injuries. When you get health insurance, your health insurance provider agrees to either cover your total medical fee or pay a certain portion from your total medical fee. It is very important that every family acquire health insurance, so that they can receive financial assistance when they need to undergo a certain medical service.

If you are one of those people in America who cannot afford to get health insurance, you must not lose hope because there are still some ways on how you can get health insurance. There are many cheap yet effective health insurances in the United States that you can take full advantage of. With this, families with low income can still get health insurance.

Health insurance options for families in U.S with low income are listed below:

Consolidated Omnibus Budget Reconciliation Act (COBRA) can help many families with low income gain access to different health insurance options. COBRA can help many people continue their pending health insurance plan. COBRA is indeed a good health insurance option for those people who undergo certain medical service and treatments. However, before you get health insurance through COBRA, you need to understand that this health insurance option is not the cheapest option that families with low income can obtain.

If you are a regular employee of a certain company, then you do not need to look more for cheap health insurance because you are covered with Employee’s compensation program. If you acquire work-related injury and sickness, your employer must help you pay your medical service and treatment because you are under employee’s compensation program.

Families with low income can also avail Medicaid. Medicaid is indeed a cheap health insurance option. Medicaid is an effective health insurance provider that you can rely on in times of sickness and injuries. It is also a health insurance option for people with low income. All states in United States set requirements to identify those families in the country that can avail Medicaid. Many states in U.S continually add health insurance options for families with low income. Please be aware that the coverage provided as a part of Medicaid varies from state to state. Certain services must be offered by all state Medicaid programs, including laboratory tests and X-rays, inpatient hospital stays etc while others are optional. For example, it’s mandatory that all states provide dental coverage to the children and it is optional for adults. Now as a part of the health care reform law, more people can avail Medicaid services. With this reform, people who make 133 percent of the federal poverty level will qualify for the Medicaid. Although, remember that not all physicians accept patients with Medicaid due to low reimbursement for the services.

The Children’s Health Insurance Program (CHIP) is another government-backed insurance option that families with low income can avail for their children who are under age 19. Again the services offered under this option varies from state to state.

Medicare is also one of the best health insurance options for families with low income. The government provides Medicare so that families who cannot afford to get expensive health insurance can still have the opportunity to get effective health insurance option that they can afford. Social Security Administration administers and regulates Medicare. Seniors citizen in United States of America are qualified to apply for Medicare.

Families with low income can also avail short-term health insurance coverage. This health insurance option is perfect to those people who are about to start a job. It is also a good health insurance option for people who need enough time to decide about their family health and individual insurance.

Low income families who are fairly healthy can also avail private insurance options with high deductibles and low premiums wherein the insured agrees to bear most cost when the services are actually availed.

Families with low income can still acquire medical assistance through different health insurance options that suit their family income. You can claim your health insurance benefits in times of sickness and injuries.

Posted in Health Insurance

Health insurance basics

Health insurance industry is one of the most active industries around the world. Health insurance coverage provides you with the necessary financial assistance when you need medical treatment, by charging some premium.

Health insurances are in demand because many people are getting more conscious about their health and wellness. To get a health insurance is indeed a smart choice that you can make. Getting a health insurance is important, so when time comes that you or your family members get sick, you can acquire financial assistance from your health insurance provider.

Health insurance is an effective way to protect your family from the high cost of different medical services that you and your family might need during health emergency situations such as injury and sickness. To get health insurance is just like getting an auto insurance. You need to select a suitable plan that will meet your needs.

It is important that you understand well all the things about your health insurance. Your health insurance covers some policies that you need to understand, so that you can effectively and properly use your health insurance.

For your guidance, here are a few more things that you need to understand about your health insurance:

Health insurance plans are generally broken into two main types namely : managed care plans and indemnity plans.

Managed care plans ( e.g. HMO ), are the most widely used health care plans in America. This plan basically consists of a network of health care providers who provide their services at a discounted rate provided the participant use only the network. Under this plan, the insured has to follow certain predefined guidelines in order to avail the medical services. For example, one needs to have a primary care physical who provides the basic care and refers to the specialist if needed.

Indemnity plans (a.k.a. fee for service plans ) gives full freedom to choose your health care provider and visit pretty much any doctor or hospital of your choice without any referrals. Under this plan, you can get the medical care from your desired doctors without needing you to first select the primary care physician.

While selecting your health care provider you need to check how much co-payment or deductible does your health insurance requires to you to pay while availing the medical services. You also need to check if pre-authorizations are needed when you want to avail certain types of medical services or visit desired hospital facility.You also need to monitor and check your pre-existing health conditions. You need to update your health insurance every six month so that you can also update your health insurance plan.

Most health plans will require you to pay fixed amount every month as a premium.

Deductible refers to the health insurance payment that you pay each year before your health insurance company starts paying your covered medical services.

Copay refers to the fee that you pay when you receive other services or when you see your attending physician.

Out-of-pocket-maximum refers to the total health care expenses that you way during the whole duration of your health insurance plan.

Basic health and medical insurance is perfect for those people who cannot afford to avail expensive health insurance. Health insurances are considered as additional medical protection that you can acquire.

Almost 69% of Americans prefer to get at least basic health insurance. It’s really important to get at least the basic health insurance so that you can effectively acquire excellent additional medical protection for you and your family members when health issues like sickness and injuries happen.

To get best health insurance rates, please visit www.insurance2buy.com.

Posted in Health Insurance

HMO – how does it work ?

One of most popular managed care health insurances that you can get is the Health Maintenance Organization a.k.a HMO. As a part of HMO plans, the doctors, health care facilities contract with the insurance company in order to provide the medical treatment to their customers at a discounted price.HMO members must follow guidelines and orders set by Health Maintenance Organization so that they can claim their health benefits easily.

How Health Maintenance Organization or HMO works?

HMO plans requires the members to pay a monthly premium. HMO plans generally does not require you to have a coinsurance with the HMO plans.The HMO network size varies from area to area and it’s very important to check the list of providers while selecting the HMO plan. While HMO plans are generally considered to be the most affordable plans, they are also considered as the restrictive form of health care insurances.

If you are a HMO member, you need to select a primary care doctor or physician upfront. You are free to choose your own physician as long as your physician is in a network connected with Health Maintenance Organization. If you do not want choose your primary care physician, HMO will assign a primary care physician to you. A primary care physician is usually a family practitioner who will be your basic care doctor. If you are not comfortable with your primary care physician you can change him or her anytime.

Your primary care physician will be the one who will decide types of care that you need to get. He or she will decide if and when you need to visit a specialist and get a certain medical service. You need to get the referral of your primary care physician in order to visit a specialist doctor.

You must get medical services and equipment only from HMO-in network providers. Health Maintenance Organization will help you obtain list of health care services providers and medical equipment providers who are under their network. HMO-in network providers cover different health care service that you need such as medical services of pharmacies, specialists, doctors, therapists, x-ray facilities and many more. Make sure that you will get health care services and equipment only from HMO-in network providers because if you get services from out-of-network, HMO will not pay it and you are required to pay it without asking financial assistance from HMO.

Exceptions about Getting your Primary Care Physician
You are allowed to get out-of network service provider during emergency situations that assigned in-network primary care physician cannot attend to you.
There is no HMO-in network provider who specializes to your medical needs.
You can continue your medical treatment under an out- network provider if you are in the middle of treatment when you become a member of Health Maintenance Organization and if you cannot cancel your treatment with your physician.

You can get the best quotes for your medical insurance needs at www.insurance2buy.com

Posted in Health Insurance

A guide to buying auto insurance.

Finding and choosing the right auto insurance is very time consuming and such a hassle. But, it is something that everyone has to have if they drive a vehicle- or else there’s a hefty fine and possibly a tow you’ll have to pay for. So, I am here to tell you the easiest route to go when buying insurance.

First find out the state’s auto insurance requirements by visiting the following Insurance Information Institute (III) website. The requirements can vary from state to state as insurance is regulated by each state.

After that you must ask yourself a few questions. How much insurance premium can you afford ? How much coverage are you looking for? Are there any other benefits such as road side assistance included with your auto insurance? Do you want to pay a full six months, or make monthly payments? Write the answers down and do not sway from them, they will try to convince you that you need more coverage or need extra benefits that you do not need, their job is to get the most money out of you as possible. It also helps to know your current driving history as it has the most impact on your insurance premium. You could get the copy of your driving record through the DMV website.

Next, decide upon how do want to optimize your deductibles. Generally, if your goal is to keep the insurance premium low, then you will need pay higher deductibles. Go through the different types of auto insurance coverage by visiting this page, and see if you really need all of them. For example, if you are driving really old car then it may be enough to just buy liability insurance in order to keep your insurance premium low.

Next, you have to find the companies, obviously. There’s a few ways to do this, one, you could go online and search for auto insurance companies and come up with hundreds of results, or you could ask friends, family, and neighbors who they get their insurance is through and if they would recommend them. However you choose to pick out the companies, is up to you, but I recommend finding at least three companies to compare. For best auto insurance quotes you may visit this page. Here you can get quotes from the topmost renowned auto insurance companies. While getting quotes, it really helps to keep following information handy : the name, sex, age, address of all the drivers, vehicle registration document, average yearly mileage etc.

Sometimes, it does help to directly talk to the auto insurance agent and understand the various discounts you could avail. For example, sometime it does bring the insurance premium down if you combine your auto insurance with life or rental insurance. Another popular one is getting a discount for insuring more than one vehicle. If you are a student with an average of 3.0 or above you could also qualify for a discount. Paying a full six months saves you a little bit of money as well as having an automatic withdraw from a checking account every month. Every representative you talk to will try and persuade you to buy their insurance, but, you must be strong and not give in until you have done enough research.

After you have obtained all the quotes, coverage details, and benefits from all the companies you narrowed your search down to, you have to basically make a pros and cons list. What company will offer you the most coverage for the lowest price? How much coverage do you need or want? Do any of your friends or family members have one of these insurances that they claim to love? Finally, after considering all of your options and comparing all the insurance companies you must come to a conclusion and go with the best choice you have made.

Buying auto insurance can be overwhelming at times, so staying calm and not stressing yourself out over picking the right auto insurance is the key to this experience. If over time you feel as though you did not choose the right insurance, no worries, you can always find a new company and cancel your policy.

Posted in Auto Insurance

Auto insurance basics

You now have to have insurance on your vehicle in order for it to be on the road legally. Some states may have different laws so always be sure to check the laws within the state that you live in. Why do you need to keep insurance on your vehicle? Besides the fact that it is the law, it covers you and any damage that you may do and the damage that you might have done to someone else or their property.  Let’s take  a look  to the breakdown of your insurance policy and what each part means and cover. Again, any questions or concerns check with your local law enforcement or you can check with your local auto insurance agent that you have your policy with.

1. Comprehensive – This term we hear a lot when someone is talking about auto insurance. This term refers to coverage in the event that your vehicle is stolen or damaged in ways that did not involve a wreck. The bank will usually require you to have this if you have an auto loan for your vehicle.

2. Collision- This is another term that you hear often when discussing auto insurance. This will cover any damages that may occur if you hit another vehicle with yours or you hit an object. This is also another one that if you have an auto loan through your local bank, they may require that you carry this type of coverage as well.

3. Uninsured/Underinsured Motorist (UM/UIM) – This is a two part and is not required in most states. You will be asked to sign a waiver in most states if you decide not to select to have this coverage stating that you are opting not to have this on your auto insurance. This will cover you in two ways; this can cover any medical or any other expenses that may occur during an altercation of vehicles. Or if the motorist involved (other party) in the accident you are in does not have enough insurance or an adequate amount of insurance, this will cover the balance of what is needed to cover the remainder of the cost of the expenses, damages.

4. Medical Payments Coverage (MED Pay or MPC) – This is a simple coverage and does not have to be taken when putting your auto policy together for your vehicle. What this does is covers any medical expense that you are any passengers that are with you at the time of the accident occurs. It does not matter which party is at fault, it will cover you either way.

5. Bodily Injury Liability (BI) - This is required by law, but the amount that is required for you to carry on your auto insurance policy can vary depending on state law and what they require. This protects you if you are in an accident to where other parties are involved and they are either hurt or if someone within the other party has been killed. Of course, the higher the amount the more that would be covered for this type of expense. The minimum requirement that you can carry is 100/300 which breaks down to and means that $100.000.00 will be covered per person and $300,000.00 will be covered per occurrence.

6. Property Damage- This is another one of where in most states is optional to carry on your auto insurance policy, but if you make the decision to carry would be very beneficial as well. This will cover you in the event that you happen to do any damage to someone else’s property with your vehicle. Examples would be hitting a parked vehicle, fence, building or anything that was on their property at the time of when the accident occurred that you hit. If you decide to select this when building your auto insurance policy, the more that you carry, the better chances that what you have done damage to will be covered, so that there are no out of pocket expense.

Posted in Auto Insurance