Everyone should have car insurance, and when you are purchasing car insurance, it is important to take the time to make sure you buy the right kind and amount of coverage for you and your family. There are 5 different kinds of coverage that every motorist should consider.
1) LIABILITY COVERAGE
Liability coverage is the minimum coverage any motorist should have. There are two types of liability coverage – coverage for Bodily Injury and coverage for Personal Property. In Alabama, drivers are required to carry liability coverage. The minimum coverage requirement in Alabama is $25,000.00 per person per wreck and $50,000.00 maximum per wreck. So for example, if you are quoted a 25/50 limit for bodily injury, it means that the insurance policy will cover up to a maximum of $25,000.00 per person injured in an accident and a maximum total of $50,000.00 in claims for a single accident. If a driver is legally responsible, or “liable” for damages, Liability coverage helps pay for them.
Every driver should have the maximum amount of liability coverage they can afford because an individual can be liable for damages after the maximum limits of the insurance policy have been exhausted.
2) COLLISION COVERAGE
Collision insurance covers your vehicle if you hit another vehicle or a fixed objected like a pole or guardrail. Collision coverage helps pay for damages to your vehicle.
3) COMPREHENSIVE COVERAGE
This insurance covers your vehicle for damages that may occur for things other than wrecks or collisions such as theft, hail damage, floods, vandalism, animal collisions, etc.
4) UNINSURED/UNDERINSURED MOTORIST COVERAGE
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This insurance provides liability (Bodily Injury and Property Damage) coverage for you if an uninsured or underinsured motorist is at fault in an accident. A 2014 study by the Insurance Research Council (IRC) found that at least 1 in 8 drivers are completely uninsured and around 30% of drivers do not have enough insurance. The Insurance Information Institute recommends that all drivers have at least $100,000 in UM/UIM coverage. Learn more about this kind of insurance coverage.
5) MEDICAL PAYMENTS
If you or anyone else in your car is hurt in a wreck, medical payments coverage can help pay for medical expenses.
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