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Auto Insurance

Defined as: The contract by which the insurer assumes the risk of any loss the owner or operator of a car may incur through damage to property or persons as the result of an accident. There are many specific forms of automobile insurance, varying not only in the kinds of risk that they cover but also in the legal principles underlying them.

In “plain” English, this means coverage that is carried by someone who is driving a motor vehicle that is involved in an accident that causes property damage or personal injury to someone.

Currently, New Hampshire and Wisconsin do not have “compulsory auto insurance liability laws”. Simply put, this means that these states do not require licensed drivers (and there should not be any other kind of driver) to have some type of auto insurance policy that provides at least minimum coverage. The remaining 48 states do have such insurance laws in effect.

You should check with the state you live in if you have questions concerning whether or not you are required to have auto insurance, and also to determine if you are required to have a certain amount of coverage. If you are required to have a certain amount, you will then need to check to see if there is a minimum amount and maximum amount.

States that do not require motor vehicle insurance coverage may, however, require the operator of a vehicle to post a bond or in some other way show proof that he or she is able to pay for any property damage and/or personal injury that may occur as a result of a traffic accident.

There are different types of auto insurance coverage. These include minimum coverage (also called “legal limit” coverage), liability-only coverage, and full coverage. Getting free auto insurance quotes , serve a great purpose in securing the lowest insurance rates.

Minimum coverage is exactly that. It is the least amount of coverage you are required to carry in a state where it is the law that you must have auto insurance. The dollar amount varies from state to state.

Liability-only coverage usually only pays for repair or replacement of vehicles other than your own that are caused by a motor vehicle accident, and for any medical or legal expenses that may occur as a result of a motor vehicle accident.

Full coverage simply means that everything is covered on any and all vehicles involved in incidents, including the policyholder’s.

Different factors determine insurance coverage rates (also known as premium costs). These may include such things as the primary driver’s age, gender, past driving history, and the amount and type of coverage, just to list a few examples.

Younger drivers (usually those under the age of 25) usually have higher premiums. Furthermore, some car insurance companies may still make a distinction in whether the younger driver is male or female when it comes to rates and coverage.

Past driving history can have a great impact on insurance rates, no matter what the driver’s age or gender. A person who has had few or no accidents, or who has been cited for traffic violations only a few times (if any) during a certain amount of time may very well be offered a better rate than someone who might be considered a “less-than-perfect” driver.

The amount and type of coverage provided by a particular auto insurance policy can also make a difference in how much one pays for car insurance. As mentioned earlier, “legal limit” coverage is usually the cheap auto insurance.

Automobile insurance can be fairly expensive. However, when you consider the alternatives: having to pay out of your own pocket to have your car or someone else’s car fixed, and being responsible for all of a person’s medical bills, then the cost does not seem so high.

And, where medical expenses are concerned, keep in mind that you will be responsible for them both at the time of the accident and afterward, which will include any time that the person must seek treatment for any health problem that was or is remotely caused by the accident, or can be traced back to the accident.

In other words, whatever is wrong with the person in the future would never had happened if he or she had not been injured in the wreck. Also, wreck injuries can aggravate pre-existing conditions—whether or not the person knew it existed.