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Basic car insurance is legally required across all states, but comprehensive coverage provides financial protection and peace of mind. With the right car insurance in place, you are protected against a wide range of risks, including accidents, theft, vandalism, and other unexpected events that could result in financial loss.
Insider Tip:
Auto insurance rates vary depending on a number of factors, like the type of vehicle you drive, your age, and your driving history. Many people also qualify for discounts based on their student status, driving history, personal affiliation, and more. Speaking to a car insurance expert can help you select the correct coverage with confidence and ensure maximum savings.
Types of Auto Insurance Coverage
Liability Coverage
Liability coverage is required by law in most states. This covers the medical expenses and damage to others if you cause an accident.
Scenario: You accidentally run a stop sign and t-bone someone with your car. In this case, liability coverage would pay to fix their vehicle and any injuries they may have sustained during the accident.
Insider Tip:
Did you know the amounts required by most state laws as minimum liability limits might not be enough to protect you financially? Check your liability limits to ensure you’re protected. Liability coverage is usually shown on your insurance documents as split limits and might show three numbers in a row. For example, 100/300/100. The first two numbers are your bodily injury liability limits and the third number is your property damage liability limit.
Collision Coverage
Collision coverage addresses the cost of repairing or replacing your vehicle after an accident. This coverage is valuable regardless of fault.
Scenario: The car behind you doesn’t stop in time for a red light and smashes into the back of your car. Their insurance isn’t enough to cover all of the damages, so your collision coverage kicks in to cover the rest of the costs.
Comprehensive Coverage (Other than Collision)
Accidents don’t always occur between two vehicles! Comprehensive coverage is for damages caused by theft, vandalism, weather, wild animals, natural disasters, and more.
Scenario: On your way home one night, you accidentally hit a deer that darted in front of your truck. Comprehensive coverage will take care of your dented bumper, hood, and smashed windshield.
Medical Payments Coverage (MedPay)
While liability coverage pays for the medical expenses of the other driver if you are at fault, MedPay will cover the medical expenses for you and the passengers in your vehicle. This coverage kicks in regardless of who is at fault in the accident.
Scenario: You’re on your way to a concert with friends when an SUV runs a red light and hits the passenger side of your car. You’re okay, but your friend suffered a concussion. In this instance, Medical Payments Coverage is for your friend’s medical expenses.
Uninsured or Underinsured Motorist Coverage (UM/UIM)
Getting into an accident with someone who is either uninsured or underinsured is a very real risk. In these cases, having UIM coverage will take care of the medical costs associated with your accident. Many states require car owners to have uninsured or underinsured motorist coverage.
Scenario: As you are turning into the grocery store parking lot, someone rear-ends you. You discover that this person is uninsured. Since you have UM coverage, your insurance will cover the costs of your injury.
Personal Injury Protection (PIP)
Falling under the same umbrella as MedPay and UM/UIM, PIP also covers medical expenses you sustain during an accident if you live in a no-fault state. This coverage often includes lost wages and funeral expenses. In no-fault states, when a policyholder is involved in an accident, that person’s PIP coverage kicks in, regardless of who is at fault.
Scenario: You live in a no-fault state. After an accident where your car was run off of the highway by another vehicle, PIP pays for your medical expenses, in addition to the wages you lost while being in the hospital and on leave from work.
In addition to the types of coverage listed above, you can opt for other optional coverages as well. For example, Rental Reimbursement Coverage is valuable in cases where you may be stuck with a rental vehicle until your car can be fixed. Towing and Labor Coverage is also available, which would take care of the costs associated with towing and fixing your vehicle.
Insider Tip:
Do you have a highly customized vehicle with specialized parts? Talk to an auto insurance professional about Custom Parts & Equipment Coverage. This type of coverage is even available for those who have invested in car enhancements and modifications, protecting you against the financial burden of having to replace those parts in case of an accident.
Why Choose Veterans United Insurance?
Dedicated to offering the best auto insurance options for Veterans and military members, Veterans United Insurance goes beyond standard coverage, offering personalized solutions and exceptional service.
Auto Insurance is important, but it can be complicated to shop. We make sure you are getting the right coverage at competitive rates. Every state has unique auto insurance laws. Veterans United Insurance will ensure that you have proper coverage beyond the minimum required by law.
No one can prevent car accidents from happening, but we can be your safety net.
Contact us today to review your options.
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Don’t hesitate to reach out to one of our insurance agents experienced in serving the unique needs of military families.
Auto Insurance Frequently Asked Questions
In addition to it being illegal to drive in most states without car insurance, having auto insurance safeguards you against substantial costs if an accident occurs. Car insurance can cover damages, replacements, and even medical expenses associated with a car accident.
Driving without car insurance could also result in various consequences, such as fines, fees, and tickets if you get pulled over by an officer. Furthermore, if you are still paying off your car, it is likely your auto loan or financing agreement requires full coverage on the vehicle you’re still paying for.
Is car insurance worth it?
The cost of insurance might seem like an additional expense, but compared to the potential financial devastation resulting from an accident, it’s a wise investment. Auto insurance provides financial protection and assurance, ensuring that you are covered for damages, medical expenses, and liability in the event of road-related unforeseen circumstances.
Want to know more information about the financial protection offered by car insurance? Reach out to us today to chat with an auto insurance professional!
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How does car insurance work when you are not at fault?
Depending on the nature of the accident, it’s a good idea to call either the emergency or non-emergency number to report the accident. Of course, if the accident caused injury to anyone, calling 911 should be the first step to ensure everyone gets the help they need right away.
The reporting officer will document key details about the accident and guide you through the next recommended steps. Make sure to exchange information with the other party, and ensure both of you call your respective insurance companies in a timely manner to report the accident.
If there are disagreements about the details of the accident, the officer who filed the report should be able to provide clarity about the situation. What happens next will depend on your location and the details of the incident. In many states, the at-fault party’s insurance should be the one used to cover all costs associated with the accident. Your insurance may also kick in if the at-fault party’s insurance isn’t sufficient to cover all costs. If you’re in a no-fault state or if the other driver was uninsured or underinsured, your PIP coverage or UM/UIM coverage may be used.
How does car insurance work when you are at fault?
When you’re at fault in a car accident, your insurance covers the damages and liabilities incurred. Your liability coverage typically pays for the other party’s medical expenses, property damage, and legal fees if they file a claim against you.
If there are injuries or damages to your own vehicle, your collision coverage could help cover those costs, but you’ll likely need to pay your deductible first. The insurance company investigates the accident, determining fault and coverage based on evidence and circumstances.
Why does car insurance go up after an accident?
Car insurance might increase after an accident because insurance companies consider those with a propensity for accidents a higher risk. When you’re at fault or involved in a claim, insurers might raise your rates to offset the increased likelihood of future claims, aiming to balance the perceived risk they’re taking by insuring you.
What is gap insurance?
Gap insurance is additional financial coverage you can opt for when signing up for car insurance. It provides coverage regarding the potential gap between what you still owe on your car and the car’s market value.
If your car becomes totaled during a wreck, normal insurance coverage will only pay back the market value of the car. Having gap insurance is a great idea for those who owe more on their car than what the market value is worth.
Does car insurance cover rental cars?
Personal auto insurance plans typically cover rental cars with the same terms and deductibles as your policy.
