Why You Need Different Coverage Options
Simply buying South Carolina auto insurancefor the minimum requirement in South Carolina isn’t a good idea. With the rising costs of car parts and the labor costs to put them back together and not even mentioning the medical bills that need to be paid once you get hit by a car or you are the one at fault. If you don’t have the right coverage this could ruin you financially so please make sure you have got this right for your families future. The best way to see what these different kinds of coverage are going to cost you is by getting quotes for each coverage, this way you can compare prices between different companies and coverage’s and see what is the right quote for you. If you need to save money by lowering your insurance bill there are a few options you can take but always make sure if you raise your deductibles that you can pay this if you ever need to file a claim. This article explains different situations and how it affects your coverage and it’s a good way to figure out what you can do to lower the costs of insuring your vehicle in South Carolina.
Why You Need Different Coverage Options
There are many reasons why a driver would need proper car insurance. Some drivers feel it is necessary to have full coverage, while other drivers either can only afford to carry the minimum requirements or simply choose to do that. The goal is to get the type and amount of coverage that will provide protection to the policyholder’s assets but not break the bank. In order to successfully do this, drivers everywhere need to know what types of coverage are available through their car insurance company and through various other carriers. Once they know what is out there, they can make an educated decision on which coverage to purchase.
Different scenarios will involve different coverage types. When a driver is deciding which types to purchase, they should consider different events that could occur and how that driver would ultimately pay for the damages that take place. Sometimes it will be one driver’s fault, and sometimes it will be the other driver’s fault. Even though a driver may feel that they are the best driver on the road and don’t need car insurance, they cannot ever guarantee another driver will not hit them. Often there is the thought, “well, if the other driver hit me then they’ll be paying for my repairs.” While this is in some circumstance true, it’s not always this easy. There is a lot that goes into filing a claim to an insurer and waiting out the process of the insurer paying for the damages or medical bills, especially when it’s the other driver’s insurance company. This waiting game can be enough for some drivers to get their own insurance so repairs are made quickly.
To help drivers choose coverage on their policy, there are a variety of scenarios listed below that can help provoke thoughts on what to expect in certain accident scenes and the coverage it would take for an insurer to pay for the damages. Keep in mind that not every insurer offers all coverage options discussed, so it would be wise to contact them first and find out what the options are.
Scenario #1: A driver has backed out of their parking space and has crashed into the side of your vehicle as you were driving by. Your car has sustained damage, but the other car has not. There are no injuries. It was concluded in the officer’s police report that the other driver was at fault, especially since the witness’s statement includes seeing that driver not look behind her while backing out. This other driver has insurance to cover the cost of repairing your vehicle and the amount it will cost to complete the repairs does not exceed the other driver’s limit. In this instance, you did not need to use your coverage. However, as part of the police report, you are required to show proof of insurance, which will be verified. You will be penalized for not having insurance, even if the accident was not your fault.
Scenario #2: You have hit another driver while driving on the road. Both vehicles are damaged badly and injuries are sustained by both drivers. More serious accidents will require more coverage types. In many states, because the accident was your fault, you will be financially responsible to repair the vehicles and pay for medical bills. Bodily injury liability will cover the medical repairs of the other driver, and property damage liability will cover repairing the other driver’s vehicle. Both of these will only apply up to the amount purchased. To have your own vehicle and medical expenses paid for by the insurer, you will need to have comprehensive and collision and either personal injury protection or medical payment coverage types. The deductible will need to be paid first. By only purchasing the minimum state requirement, personal injury protection (in states where it’s not required) and comprehensive and collision will not be available to the insured and they will be responsible to pay for their own damages and medical expenses out of pocket and not through the insurer.
Scenario #3: Your teenage son went to a party with some friends and when he returned to the parked car, he realizes it has been vandalized badly. Comprehensive and collision coverage will help pay for this type of damage. Once it is proven that it was vandalism (or even theft) the insurer will cover the cost to repair the damage after the deductible has been paid. Comprehensive and collision cover a wide variety of mishaps that occur to the vehicle, from weather related incidents to theft to vandalism to accidents involving deer or other animals. This type is really only worth having if the cash value of the car exceeds the amount of insurance purchased. It would be a waste of money to insure the car with $10,000 of comprehensive and collision if it was only worth $2,000.
Scenario #4: Another motorist hits your car with their car, and they do not have any insurance to pay for the damages. Suing the other driver for the money to repair the vehicle is often thought of first in these situations, but in some states, there are limitations to suing in this circumstance. Instead, insurers offer different uninsured motorist liabilities for drivers that will pay for damages incurred by a motorist who does not carry insurance. These drivers will be penalized with fines at the scene of the accident if they do not have insurance or another form of financial responsibility declared. Some states will require their drivers to carry this coverage as part of the minimal requirement.
Drivers need to be aware of the all of the options they have to purchase when making their decision about their car insurance policy. Couple this with what can happen on the road to either the policyholder or other loved members of the policy and the results are endless. It’s better to be safe than sorry and have car insurance to protect valuable assets if ever involved in an accident. After looking through these auto insurance recommendations any driver can use our quote comparison tool to find the right policy at the right price.
Article courtesy of www.OnlineAutoInsurance.com www.onlineAutoInsurance.com
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