Liability VS. Collision insurance
While you understand that you must legally carry auto insurance, you may have unfortunately chosen to drive without it. Even good drivers are required to be covered whether they are likely to be involved in an accident or not. Here we’ll explain the different elements that make up an auto insurance policy so you can select the appropriate one for you.
Liability insurance covers any claims that result from an accident in which bodily damage or property damage occurs. Liability insurance usually covers bodily injury, property damage, and uninsured drivers from another party. If you are at fault and someone is hurt, or private property is damaged, liability insurance pays for any resulting medical expenses, lost work time, or repairs to property. If you are not at fault but the other driver is uninsured, liability insurance will pay for any injury or damage you yourself suffer.
Liability car insurance and collision car insurance are completely different. Fixing our car was not mentioned in the above description. It does not mean our car is not covered under an insurance policy. You need not pay out of your own pocket if you have collision car insurance. If there is a collision with another object the repairs are carried out by the collision car insurance. The coverage isn’t for people who run over poor defenceless animals. The cracked headlight can be fixed by comprehensive car insurance.
When purchasing car insurance you should consider taking the largest deductible that you can afford. This amount will be deducted by your insurance company if you file a claim for damage but this can lower your monthly premium considerably. You will need to have collision insurance if you are making loan payments on your vehicle, own a fairly new vehicle or you are leasing. If you have an older vehicle and can afford to replace it you may choose not to carry collision insurance.
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