What are the Main Types of Car Insurance in the U.S.?
The most typical forms of insurance in the US are:
If you cause an accident and are at fault, liability insurance will pay for the other driver's property damage and bodily injuries.
Comprehensive Coverage - guards your car against incidents that don't involve driving, like theft or natural disasters like hail damage.
Collision insurance protects against vehicle collisions and collisions with stationary objects.
Basic liability insurance that offers protection in the event you hurt someone or damage their property is required by the majority of U.S. states. Although each state in America sets its own minimum standards for auto insurance, many adhere to the "25/50/25 limit," which is:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $25,000 property damage liability per accident
Along with the aforementioned varieties, stated amount and agreed/guaranteed value insurance are also available in the United States, however these coverages are often used only in exceptional cases, such as when insuring expensive or modified automobiles.
Consult an insurance expert or get in touch with the Department of Motor Vehicles (DMV) in your state for details on the applicable limits.
Is There a Coverage I Need?
The best insurance for you will rely on a number of variables. Work with a trustworthy insurance broker to help you navigate the intricacies.
Your state's legal restrictions, which change state to state.
Financial risk you are willing to accept should your car experience the above-mentioned problems. Consider comprehensive and collision coverage if you can't or don't want to afford those costs out of pocket.
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