Auto Insurance Coverage

Do You Have Sufficient Auto Insurance Coverage?

To ensure that you do have the proper coverage, you first need to acquire a good understanding of the basics of auto, home, personal umbrella, and life insurance coverage. For this article, we will focus on auto insurance coverage.

Auto Insurance basically covers you for liability and property damage as it relates to your motor vehicle. Your auto insurance policy’s first and/or second pages are the declaration pages of your auto insurance policy. The declarations pages describe your auto coverage limits in numeric dollar values.

Auto Insurance Coverage

-Bodily Injury/Property (BIPD) 250/500/100

-Limited or Unlimited

-Medical (Med) $5,000

-Personal Injury Protection (PIP) 250 w/250 Ded

-Uninsured/Underinsured (UM/UIM) 250/500/100

-Collision $500 (Coll) Deductible

-Comprehensive (Comp) $500 Deductible

-Rental Insurance (RI) 80%/1500

The BIPD represents Bodily Injury (BI) / Property Damage (PD). Liability coverage is protection for times when you have been deemed and proven negligent in an auto accident and you therefore become legally liable for the resulting compensatory and/or punitive damages to the other party or parties. A major factor affecting this decision is an understanding that you are self-insured for any amounts awarded in excess of your BI coverage amount, should the jury award compensatory and punitive damages greater than your BI coverage amount. Now, you can get an umbrella policy to cover you up to a certain amount in excess of your underlying auto BI coverage. Next, we have “limited right to sue” versus “unlimited right to sue” coverage. Under the “Unlimited” right to sue lawsuit option, you retain the right to sue the person who caused an auto accident for pain and suffering for any injury. PIP coverage stands for Personal Injury Protection coverage. PIP is paid from your own policy. PIP covers medical expenses, and possibly lost wages and other damages. A PIP claim may be subrogated by your insurance against the other party’s insurance company if the other party was determined to be the neglligent party in the accident. PIP is a mandatory coverage in some states.

An uninsured driver is a person who has no auto insurance coverage, or had insurance that did not meet state-mandated minimum liability requirements, or whose insurance company denied their claim or was not financially able to pay it. An underinsured driver is a person who had insurance that met minimum legal requirements, but did not have high enough coverage limits to pay for the damage caused by the accident. Collision coverage insures you for damage to your vehicle. If you collide with another vehicle and the other party is at fault, then your insurance company may subrogate the claim against the at fault party’s insurance company to recover the claim amount.

Comprehensive (Comp) basically covers what collision coverage does not. When your car sustains damage that did not result from colliding with another motor vehicle or object, the comprehensive portion of your policy will pay for the damages. Here are the perils typically covered by comprehensive auto insurance coverage: fire, theft, vandalism, broken or damaged glass, animal inflicted damage, falling objects, storms (hail, wind, etc.), and water damage. Rental Insurance (RI) is coverage for you to rent a car while your vehicle is being repaired because of a covered incident.

Article Source: http://EzineArticles.com/?expert=Joseph_Rubino

Wedding Insurance

Wedding Insurance – Protect Your Day

Weddings Insurance

One thing that may help alleviate some of those worries is wedding insurance. Not to worry, the parents of the bride and/or groom can also receive the appropriate wedding insurance. Both sets of parents wish nothing but the best for their children and their investment in this ceremony shows their deep concern for their children’s contentment. Being covered in case an accident occurs will help them sleep better knowing they are covered properly.

The two types of coverage that are common for this type of ceremony are event cancellation/postponement coverage and liability coverage. The cancellation coverage will protect the financial investment of the ceremony if a circumstance arises where the ceremony cannot take place. The liability wedding insurance coverage will protect the responsible party from any financial liability that may arise from the ceremony. The earlier that coverage is purchased the better it will work as the cancellation coverage should protect the ceremony from the beginning planning period up until the nuptials are finalised. Some situations that may cause a postponement are severe weather, traffic accidents, sickness, or death. Maybe the most important coverage is the liability coverage. There are many reasons for needing this coverage including:

You wish to have coverage for any bodily harm or death,You wish to have coverage for any property damage accrued,You wish to be covered for any alcohol related accidents.

Look into it and see if your provider offers the coverage you need.

Article Source: http://EzineArticles.com/?expert=Brantley_Graham