Insurance Coverage You Should Look for Your Car

Buying a new car today means a person will have to invest at least $20,000 at a time or near about $300 to $500 per month with a convenient car loan. However, in order to get rid of such high expense, many people try to keep their old car for a longer period.

There is no doubt that insurance is one of the most indispensable aspects of a vehicle and if you have been using a car for a longer period of time, then you should conduct a research on the available coverage your car insurance company is providing to you. It is true that the coverage provided by the insurance company will be determined by what kind of car you own, your financial situation and the state you are residing in, but the number of coverage starts to reduce as your car gets older with time. So, what are the insurance coverage plans that you should check out?

Medical Payment Coverage

The facility provided by an insurance company will bear the entire medical cost of the passengers if the car meets with an accident regardless who is responsible for the accident. However, one of the most advantageous features of the medical payment coverage is that there will be no deducted or co-pays.

You will have to pay near about $3,000 for a crash-related emergency visit and your medical insurance may bear a part of the total cost, but you will have to ensure that you will not have to spend money from your pocket during such emergency. Thus, make sure your medical payment coverage provide all such facilities.

Liability Coverage

The insurance facility will protect you financially even when the accident has occurred at your fault. A major accident can damage your car totally and the repairing cost can climb from $20,000 to $30,000 while at the same time the accident can damage other cars too.

However, before conducting a review on liability coverage of your insurance, you should know that the general guidance for coverage amount for an average family is near about 100/300/100, meaning $100,000 will be provided for every injured person, $300,000 per accident and $100,000 for property damage.

Collision and Comprehensive

This type of insurance will cover all the damages to your car caused by collision or any other non-accidental reasons. However, the insurance coverage can cost you some 10% of the total price of your vehicle if it is not financed or leased. This will definitely be a big amount if you fall in the category of middle-income family.   If you want to exclude the coverage, make sure that you have enough money in your emergency fund.

Roadside Assistance

If you have an old car, then you will have to be ready for its maintenance and repair charges. When your car gets older, then you will have to get your vehicle towed and this is where your roadside assistance works. Many car insurance providers are offering roadside assistance for the older cars. However, before approaching to a mechanic for towing your old car, ask your insurance providing if they are offering such facility or not.

However, the cost for the insurance coverage will be a bit higher since it deals with older cars that are very vulnerable to breakdown and frequent repairing. Thus, ask the insurance company to provide the roadside assistance facility if you want to drive the car smoothly for the long term.

Thus, while buying insurance for your car, never consider it as an expense, because this title expense can offer you big benefits in an emergency.

 

from http://monalisaofblogging.com/insurance-coverage-you-should-look-for-your-car