Car Insurance Important Elements - Illinois State Insurance

by Illinois State Insurance ? January 15th, 2012

It is a known fact that for most drivers, having some amount and type of car insurance is an essential part of owning and operating a car or moving vehicle.? Although a car insurance policy can be complex, there are several elements which are typically common to most of them.? Let?s discuss this further.

Car insurance is designed to protect the occupants of a vehicle as well as those associated with an accident.? This can be occupants in another car involved in the accident or even bystanders who happen to have the bad luck or being in the wrong place at the wrong time.

A key type of coverage for car insurance is liability.? This provides money to pay for damages from injury to people or property involved in the accident.? If someone gets hurt and requires medical care, the liability coverage normally kicks in to take care of those expenses.? It can also cover claims made against a driver for damages.

If drivers did not have this type of coverage, they could be personally responsible for claims made against them.? This could certainly be financially devastating which is why this coverage is so important.

There are limits which can be set on the amount of liability coverage desired.? Typically they can range from $10K up to $1000K or more depending on the vehicle and owners involved.

While liability coverage typically covers losses caused by injury, there are other types of coverage for damage to vehicles.? Collision covers damage to a vehicle as a result of an accident.? This type of coverage kicks in irregardless of the circumstances.? It covers the cost of repair to a damaged vehicle and in some cases covers a full replacement of the vehicle.? Most collision coverage includes a deductible meaning that the policy holder would be responsible for a portion of the repairs.? Typical deductible amounts can range from $100 to $1,000 or more.? The cost of the coverage is lower as the deductible increases so this is an important consideration.

Comprehensive coverage is for damage to a vehicle from things like vandalism.? It can also cover replacement or repair to a windshield as a result of flying debris, etc.? This coverage also carries a deductible so it?s important to consider this type of coverage carefully.

There are many other types of coverage as part of a car insurance policy.? Your car insurance agent is best equipped to help explain these coverage options and make appropriate recommendations.

There are also many resources on the Internet which can help explain these coverages so you can better understand them and make well informed decisions.

Source: http://illinoisstateinsurance.com/car-insurance-important-elements/

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