Minimum car insurance requirements
Liability insurance: It covers the injuries and damage you cause to other road users (motor vehicle owners) in accidents. Folsom auto Insurance by The Fong Agency is one of the best car insurance.
Liability Insurance is broken down into
- Property damage
- Bodily injured liability
- Property damage;
The property damage covers the damage to one’s vehicle and ownership in the vehicle in the event of an accident. The amount of liability coverage may be used in replacing or repairing the vehicle and any damaged property.
It is good to note the limits of the cover of the insurance. The border is paramount so as if the damage you accidentally caused exceeds the limit you may be required to pay the difference.
Bodily injured liability
This responsibility covers people injured in the reasons of the accident. Therefore, the liability covers;
The injured person or the injured person’s insurance may sue you for damage about the crash. The policy taken may cater for the legal fees which are usually not cheap! It is, therefore, prudent to ensure that the policy includes legal fees
This will cater for emergency services, ambulance services, hospital bills and in the event of further doctor visits, physical therapy and any other costs including buying medical aids i.e. crutches, wheelchairs, etc. assisting in recovery
Lost income compensation
If in the accident, you injure either the driver or one of the passengers to the extent that they cannot resume their official duties in a reasonable time frame then you are required to compensate for their absence of function. It is wise to ensure that the policy covers the compensation for the absence of work.
Uninsured motorist coverage
As much as drivers are required to be insured there are still some uninsured motorist. In the event of an accident, they may not have money to pay for the damages even if you were to sue them. Therefore, you should look out for the uninsured motorist coverage.
Comprehensive and collision coverage
Collision coverage insurance pays out if your car crashes into another vehicle or body or when the car rolls over.
Comprehensive insurance covers a damaged car damaged by explosions, vandalism, storms, falling objects, bodies, contact with an animal, floods, etc.
Used by leased vehicle, the rental car may require you to have ‘gap’ insurance. The insurance covers the claim check for the value and amount owed on the lease.