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Financial Security and Your Home Insurance Coverage

Every year, more cars travel America's roads. This could lead to a higher possibility of a collision for you and your family. If you get in a car wreck, the car insurance you have can make a big difference in how much you have to pay. So how do you know what insurance you need and how much you should buy? Car crashes can result in a variety of different expenses, which can all be paid for based on the type of coverage you own. Automobile insurance is mandated by law in all states and provinces. Making the decision to drive without owning insurance could mean you have to repair or replace a stolen or damaged vehicle and pay the cost of any damage that you may have caused. Liability: This kind of insurance can pay for the damage that you have caused. These damages might include bodily injury, and property damage. Damages from bodily injury can include medical fees, lost wages, and pain and suffering. Property damage includes damaged property and loss of property use. If you are sued, this type of insurance will pay for your court costs. State laws usually require standard amounts, but larger amounts can be purchased and are extremely helpful. Personal Injury Protection: This is mandated in some states and is optional in others. It pays you or your passengers for medical treatment resulting from a crash, regardless of who may have been at fault, and is often called no-fault coverage. State law usually sets minimum amounts. Medical Payments: This coverage is available in non-no-fault states; it will pay despite who may have been at fault. If this type of coverage has been purchased, the insured person will receive payment for all types of medical and funeral expenses. Collision: Damages resulting from a collision will be paid for under this kind of insurance. Comprehensive: This kind of insurance protection covers all non-collision damages. This may include weather damage, vandalism, and theft. Uninsured Motorist: If you are hit by an uninsured driver, this type of insurance will make sure you are covered. Under-Insured Motorist: This pays for collision expenses when a driver with insurance is injured in a crash caused by another person who does not have the right amount of insurance to pay for the full amount of the damages. Other kinds of car insurance, like emergency road service and car rental, are also available. Car Insurance Groveland