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Everyone has auto insurance, if for no other reason than we are required to in order to own and operate a vehicle, details are here http://www.americantristarinsurance.com/
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Everyone has auto insurance, if for no other reason than we are required to in order to own and operate a vehicle. However, many people fail to investigate their insurance options and coverage properly. Rather, they look for the cheapest rate with the state minimum coverage. This can leave you in financial bind if you were to be involved in an accident.Here are four critical things you should know when purchasing auto insurance,
1 – Understand The Difference Between Tort and no-fault Systems
This is important because it will shift what you need for your coverage. In no-fault system, your insurance coverage is primary for you, your property and occupants of your vehicle. In tort system, your insurance covers both you and other party if you are found to be at fault. Keep in mind, that even under no-fault system, if damages or injuries exceed the legal threshold, this may result in legal action brought by the party who is not at fault. Ensuring you have enough coverage is very important in these cases.
Insurance companies use many factors to determine the level of risk for them for extending insurance coverage. These factors include: • Your driving record. • The geographic territory where your car is parked, such as urban or rural areas. • Your gender and age. • Your marital status. • Prior insurance coverage. • How much you drive, and for what reason. • The specific car you drive, including age, make and model.
There are many ways to get discounts from insurance companies and to reduce your premium payment. Be sure you explore your discount options while you are shopping for the best coverage and rates. The common discounts include insuring multiple vehicles or having multiple lines of coverage with the same company, taking driver education courses, having good grades as a student, have additional safety devices such as optional airbags, having anti-theft devices, maintaining low mileage on your vehicle, and have a good driving record.
Many motorists are heavily underinsured, although they meet the state minimums. When you consider that a serious accident, which may or may not be your fault, can easily result in $60,000 or more in just medical expenses for one person. In most states, the minimum coverage is in the range of about $20,000 per person and $40,000 per accident. That means you are left with personal medical bills of $40,000, plus personal liability for other injuries if you are at fault. The cost for incrementally increasing your coverage is worth staying out of bankruptcy court.Auto insurance can be something that really helps in the event of a major accident. Be sure you carry adequate coverage, you maximize your coverage for your costs, and that you understand what your policy will cover.
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