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An Intro To Auto Insurance Although premiums, policies and prices vary widely, the mandate does not. Automobile insurance is an unavoidable expense of driving. Ideally, you will never have use for your auto insurance. In the event that you do; however, you will considerably improve your satisfaction with the claims process by doing thorough research before policy inception. Begin with an understanding of auto insurance terms: ? Bodily injury (also called liability) This coverage offsets costs related to the bodily harm and property damage of the other driver(s) when you are at fault in an accident. Insurance companies impose limits on the amounts that they will pay to the victim(s), and for each accident. Your premium amount is determined, in part, by the limits you select. Higher potential payouts by your insurance carrier translate to higher insurance premiums for you, the consumer. ? Collision In the event that you have an accident, your medical expenses and property damage will be covered if you select collision protection as a part of your plan (again, there are limits). » Discuss it » Continue Reading »
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