sachiparkeryx: Cheap Car Insurance Coverage Amount

Monday, January 9, 2012

Cheap Car Insurance Coverage Amount | Teen Auto Insurance Quote

Monday, January 9th, 2012 at ?

Teen auto insurance

?I want?cheap car insurance ?but how much coverage do I need to get??

Cheap Car Insurance Coverage Amount

Most states require a minimum amount of liability coverage. But the legal requirement may not be enough. Collision and injury losses can cost more than the minimum coverage mandated. If you are held responsible for a collision and injury you may have to pay the difference if the costs are more than what the insurance covers. That could ruin you financially.

A common recommendation is that you have bodily injury liability protection of $100,000 per person and $300,000 per accident. This amount should cover most eventualities but keep in mind this is the maximum amount the insurance company will pay out.

If for some reason the losses are higher than that you may be expected to pay the extra, if you have it. Therefore, if your net worth is more than $300,000 you should consider extra liability insurance. You could increase the car insurance policy amount, but check for a less expensive way by getting a separate ?umbrella? liability policy. An umbrella liability insurance policy covers other circumstances in addition to car incidents and is cheap: typically $200 ? $300 per year for $1,000,000 coverage. It kicks in when your underlying insurance is maxed out. If you buy umbrella liability insurance from the same company as your car and homeowners insurance there may be an additional discount but be sure to shop around for the best buy.

In addition to bodily injury insurance, you may need to buy property damage coverage, meaning damage to your vehicle, other vehicles, and maybe other objects.

Collision property damage coverage pays for the damage to our car. The amount of coverage is determined by the vehicle you drive and the profile of the vehicle?s typical driver. A new Corvette is more expensive to insure than an old Buick Roadmaster because of the cost of parts, the likely way they are driven, and the residual value. The amount of coverage is determined by the insurance company accordingly. If you have a low value car, or one that is seldom used, you could decide to not have collision insurance.

Comprehensive property damage coverage adds protection from damage to your vehicle not occurring in a collision, and some additional features. The amount of coverage is again determined by the insurance company according to the vehicle model.

One choice you do have control of is the deductible. This is the amount you pay before insurance pays. Deductibles are typically $500 ? $1500. The higher your deductible the lower your cheap car insurance.

Teen auto insurance

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Filed under: Cheap teen auto insurance

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