Auto insurance is must need for every vehicle. It protects you, your vehicle and your passengers from financial hardship after an accident or other vehicle-related incident. To get insurance to your vehicle, you need to pay premium. Generally insurance expires in 6-12 months. To continue benefits of your auto insurance, you need to renewal your insurance before it expires.
Auto insurance is also mandatory in every state. Different types of insurance coverage are there. From those get required coverage for your vehicle. Don't need to buy all types of coverage. You need to buy the coverage that protect you from accidents and the states that require it by law.
Auto insurance is also mandatory in every state. Different types of insurance coverage are there. From those get required coverage for your vehicle. Don't need to buy all types of coverage. You need to buy the coverage that protect you from accidents and the states that require it by law.
To know how auto insurance works, first you need to know about auto insurance deductibles.
What is a Deductibles?
All auto insurance policies have a deductible. Deductible is the amount of money you need to pay toward the damages before your insurance covers all remaining necessary expenses. The deductible amount depends on your policy. It varies from company to company and by state.
While purchasing the auto insurance policy, choosing a deductible is an important step. Suppose if you are in an accident that causes $2000 worth of damage and
your deductible is $400, you are required to pay the amount of $400
toward the repair and the insurance company will pay the remaining
$1600. The higher vehicle insurance deductible, the lower the amount you pay on your insurance premium. If deductible is low, insurance premium will increase.