The state of Florida, regardless of all the traffic laws and enforcers present on highways, isn’t exactly free from road accidents, so it’s always a prudent choice for car owners to get auto insurance from Brandon providers like Romero Insurance & Financial Services. This way, they won’t end up paying the bulk of the cost whenever they get into accidents. If you’re looking to have your car covered, here is what the American Institute of Certified Public Accountants has to say:
"The first thing to do is determine what type of loss you have and the coverage part to which it pertains. You may need help from your insurance agent. Next, check the Declarations Page to make sure you're within the insurance limits for that particular coverage part. Then read the entire coverage part, including the description of coverage, who is covered, and the exclusions. Finally, read the general provisions and exclusions section at the end of your policy."
Types of Car Insurance Coverage
Car insurance policies have different types of coverage, but they mainly revolve around the following: the property damages, physical injuries, or even loss of life that you are accountable for whenever you get into an accident. Below are a few of them.
The collision coverage component of your car insurance enables you to pay for the damage incurred by your vehicle during the crash or accident. This is of course is possible after you pay for your deductible. You can choose to pay higher deductibles for a lower premium, but you should make sure that you could really pay up when the time comes.
Bodily Injury Liability
In vehicular crashes, physical injury is always present to an extent, and your bodily injury liability coverage pays for the hospital bills or medical expenses of the victims. To understand what this coverage means for you, look into figures like 20/50 – this means that your policy allows a maximum payout of $20,000 for a single person and up to $50,000 for all the victims.
Uninsured/Underinsured Motorist Coverage
Another problem that you might face on the road is getting into a collision with someone who doesn’t have insurance, or one who has a policy but is insufficient to pay for your injuries or the damages. This is where the uninsured/underinsured motorist coverage comes into play. With this in your policy, you will have little to worry about should you bear the brunt of the accident caused by the other uninsured/underinsured driver.
Trust in your reliable Brandon insurance agency for a comprehensive list of coverages you can buy. However, you should still make it a point to know and understand what every coverage means and entails.
(Source: Who's Covered under Your Auto Insurance Policy?, 360 Financial Literacy)