Do you own a car, truck, SUV, van, or other vehicle? Then you probably need auto insurance. This type of insurance comes in many different varieties, but the basic idea is to protect you from paying the full cost of an accident or theft. Since such costs can rise into the thousands of dollars, you might face a financial catastrophe or even bankruptcy if you have to pay them. For that reason, insurance is very important to keep.
Another great reason to keep insurance is that you can’t legally drive without it. That’s right: every driver in the US is required to have some minimum amount of insurance coverage. There are hundreds of companies that specialize in different types of auto insurance, and you can go online to get cheap insurance quotes. Before you do, it’s a good idea to learn a little bit about the different types of coverage.
Liability insurance is what is usually called the most basic and least expensive type of insurance. This is the type that is required by law for all drivers, and it pays for damage that you cause in an accident that is found to be your fault. Since it doesn’t pay for the cost to repair your own car, most drivers need more than just liability insurance. A collision policy which pays for the cost to fix damage to your car is a great supplement, especially for people who still owe money on their vehicle.
There are so many different types of low cost auto insurance available it’s hard to enumerate them all. One very popular type is comprehensive auto insurance. This type of policy protects against damage caused in a natural disaster such as a storm or hurricane. It can also pay for losses incurred due to theft or vandalism. Check out quotes for a comprehensive policy if you’re interested in this type of insurance.