Auto insurance provides protection for cars, vans, SUVs and pickups. Coverage can be extended to include trailers, campers and fish houses. Auto policies protect the insured against injuries or property damage caused to another in an accident.
Physical damage protection, known as comprehensive and collision coverage, will insure your vehicle in an accident or from loss due to hail, wind or fire damage. Insureds may experience savings when purchasing physical damage coverage with higher deductibles (the share of the loss you pay out of pocket in the case of an insurance claim). While insurance coverages vary by state, most will provide some initial funds to cover your medical expenses and lost wages due to an auto accident.
Liability insurance protects the insured against the allegation of injury, damage of someone’s property who is not an insured or the insured’s immediate family. This usually includes investigation of the allegation and defense of the insured. Liability policies do include the medical payments to others for minor injuries on your property.
This insurance can be used as a liability umbrella coverage. General liability insurance is purchased in increments of one million as a very affordable way to provide good protection.
Business auto insurance protects the vehicles that a business owns or rents. This policy also provides coverage for vehicles that are in the business’ custody – think your car while at the repair or body shop.
Business auto coverage is also needed when there are no vehicles owned by the business and car travel is necessary for work. When employees use their personal vehicles for business use, both the business owner and the employee will benefit from business auto insurance. The need includes simple mileage such as to get mail, bank deposit and meetings. Business auto coverage can be obtained by hired or non-owned auto coverage.
Classic vehicles, antiques or collector vehicles should be covered by a classic car specialty company. This coverage will allow much better insurance for your pride and joy! These insurance policies also include protection for classic car clubs, classic tractor clubs and collections.
Coverage for Your Toys
Additional insurance policies are available to cover your toys such as watercraft, RVs, motorcycles, ATVs, UTVs, snowmobiles and golf carts. The general rule to follow is to have liability insurance for any vehicle with a vehicle identification number (VIN) or is licensed.