The Different Types of Auto Insurance

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Automobile insurance is expensive and costly to have for your family. But in this world where anything could happen when you're driving, be it your fault or not, insurance is a necessity. But sometimes it can be confusing what types of insurance are out there and how much coverage you and your family will need. What is personal property liability? Do you need comprehensive coverage and personal injury protection insurance? Insurance requirements can differ drastically or insignificantly in each state.

Here are the different types of coverage:

These types of insurance are usually optional in each state and will result in a costlier insurance premium. Most insurance that is optional is put in place as a safe guard for the other possibly uninsured party.

Collision coverage: Collision coverage pays for all the repairs and costs associated with an automobile accident that involves another vehicle or object even if the insurance holder is at fault.



Comprehensive Insurance: Is, well, more comprehensive coverage. This type of insurance will protect the holder if the car has been stolen, struck by natural causes, or damaged illegally.



Bodily injury and personal property insurance is a necessity in every U.S. State.



Personal Injury Protection: insurance policy that, in case of a car accident, pays for medical expenses associated with said car accident. It will cover the insurance holder, passengers, and pedestrians. PIP is required in Michigan, Massachusetts, Maryland, North Dakota, Oregon, Utah, New Jersey, New York, Minnesota, Florida, Hawaii, Kansas, Kentucky, Delaware, and Colorado. PIP is always a good thing to consider since it will cover most medical bills, lost wages, and other expenses even if you were at fault in the accident. When deciding if you need PIP coverage you should look at your health insurance policy in case the coverage overlaps itself. Also consider your driving habits. If you carry passengers in your vehicle on a daily basis, perhaps it's better to have PIP. Check with your state and keep in mind your health and habits when buying insurance that is right for you.



For More Information

If you have been injured in an auto accident in New Jersey, consider talking with a personal injury attorney to protect your rights and assist you in recovering the highest compensation. To learn more about what to do if you are involved in a car accident, please visit the website of the New Jersey personal injury lawyers of Levinson Axelrod today.

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