Automobile Insurance: What Additional Coverage Should be Purchased
Did you know that in Pennsylvania and in most states you must have the minimum state-required insurance coverage to drive a vehicle?
Auto insurance is meant to cover expenses related damage to your car, damage to other people’s car or property and to injury that occurred to you and other people.
There is a fine line between having too much insurance and not enough insurance for your vehicles.
Here is a list of optional types of automobile insurance you can add to your policy:
- Underinsured Motorist
- Applies if your vehicle is hit by an at-fault motorist who does not have enough insurance to cover your claim
- Uninsured Motorist
- Applies if your vehicle is hit by an at-fault uninsured motorist
- Collison
- Pays to repair damage to your car as a result of an accident
- Comprehensive
- Pays for theft or damage to your vehicle from hazards including fire, flood, vandalism or striking an animal
- Towing Coverage
- Reimburses the policy holder, up to the policy limit, for towing and labor costs for an insured disabled vehicle
- Gap Coverage
- Pays the difference between an insurance company’s payment for a totaled vehicle and the balance of a vehicle loan
These options are the most commonly seen additions on an automobile insurance policy.
There are other policy additions that can be added such as Stacking of UM or UIM, Funeral and Accidental Death Benefits, Income Loss, Rental Reimbursement Coverage and Extraordinary Medical Benefits.
Having an auto accident changes the course of your life plans, but you don’t have to be caught off guard. Let us help!
Our Steely & Smith team can help you find the right amount of auto insurance that is right for you and your family!
Note: This information is general in nature and should not be construed as professional insurance advice. You should work with your insurance agent to determine what will work best for your situation.