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Automobile Insurance: Coverages
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Each state has slightly differing automobile insurance requirements so you should visit the Insurance Information Institute's web site at www.iii.org to find the specific auto insurance coverages required by each state. Auto insurance rates vary wildly between companies and quotations can be very confusing, with different cover and different deductibles so understanding automobile insurance cover and exceptions can help clear up a lot of this confusion. Some of the basic coverages available are:
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This section of your automobile insurance policy protects you if someone else is killed or injured, or their property is damaged. It will pay for claims as a result of lawsuits against you up to the limit of your coverage, and will pay the costs of settling the claims. By law you must carry a minimum of $200,000 in Third-Party Liability coverage.
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As with most insurance products, automobile insurance policies are comprised and purchased based on each individual’s needs. There are specific exclusions, provisions, and limitations to each type and amount of coverage defined in individual automobile policies. Also, endorsements can be added in order to customize individual automobile insurance coverage.
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Shopping for automobile insurance doesn't have to be hard. As an independent insurance agent, Virginia CU Insurance Services works with multiple companies to find you the best coverage and the best rates.
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