Auto insurance is one of those things that most people have but aren’t very familiar with. Most people just accept the lowest quote that they can find after very minimal research or negotiating, and rarely change providers ever again. But cars are one of the biggest investments we all make, and so it’s important to familiarize yourself with what auto insurance is and how it can help protect your rather large and somewhat dangerous asset.
Every home is different, and therefore, every home insurance policy must be unique as well. The expert insurance The average person files an insurance claim for a car accident about once every 18 years, which means that if you’ve been driving since the age of 17, you’ll likely be in an accident by age of 35. This is not meant to scare you, but simply to point out the importance of car insurance. Accidents can sometimes be quite expensive, and we can only hope that nobody gets hurt, but a good auto insurance policy will help make dealing with a collision that much easier. But don’t worry, Weed Ross is here to cover the basics of auto insurance to ensure that you are set up for success, just in case you’re ever involved in a car accident. Welcome to Auto Insurance 101.
In this article, we will cover:
- What Is Auto Insurance?
- What Coverages Are Typically Included with Auto Insurance?
- What is Classic Car Insurance and What Does It Cover?
- What Does Auto Insurance Normally Cost?
- Is Auto Insurance a Requirement?
What Is Auto Insurance?
Auto insurance is a type of insurance that protects you financially from damage to your car and other liabilities related to your vehicle. You can call it either auto insurance or car insurance, but it does the same thing either way. Auto insurance can also cover damages to another driver’s car or even medical payments if anyone was injured to the extent that required a hospital visit. Most auto insurance policies will cover these types of things up to a predetermined limit that varies from provider to provider. This insurance is meant to protect drivers with regards to the financial aspect of car accidents.
What Coverages Are Typically Included with Auto Insurance?
What Coverages Are Typically Included with Auto Insurance?
Auto insurance normally covers a variety of critical aspects of an auto incident, but it can vary from policy to policy. However, most auto insurance offers the following types of coverages:
- Bodily Injury Liability Coverage: defends you and pays for bodily injury or death related to a car accident
- Property Damage Coverage: defends and protects you if your vehicle accidentally damages another person’s property.
- Personal Injury Coverage: covers limited medical expenses that occur as a result of a covered accident, regardless of fault.
- Collision Coverage: covers damage to your car when it hits or is struck by another object.
- Comprehensive Coverage: protects you from damage to your car from theft, vandalism, flood, fire, and other covered incidents.
What is Classic Car Insurance and What Does It Cover?
Classic car insurance, or classic auto insurance, is a type of insurance that is specifically designed for classic cars, collectibles, vintage cars, antique cars, or any other type of “unique” car. The types of autos that fall under “classic cars” are typically those with what’s called “historic interest.” But the term classic cars may also refer to exotic cars, muscle cars, and sports cars from any time period. In other words, classic car insurance covers rare or desirable cars. Classic car insurance covers about the same things that regular auto insurance covers, but usually with a few differences. This is because classic cars aren’t driven nearly as frequently as everyday cars, so they require a different type of policy. Differences between normal auto insurance and classic auto insurance often include:
- Agreed value coverage: a promise that your insurance provider will pay the “agreed full value” of a car in the event of a total loss.
- No fixed mileage: classic car insurance policies normally don’t include a set amount of mileage that you’re allowed to drive.
- More affordable rates: because people drive their rare cars more carefully, the rates are often much lower.
What Does Auto Insurance Normally Cost?
Auto insurance costs change based on the vehicle and the driver history. Most auto insurance policies charge higher rates for cars that are more likely to be in an accident, depending on historical stats and data. Also, the driver age, the selected deductible, and the area in which the car will be driven can affect the cost of your car insurance. Weed Ross works with tons of insurance providers, so use our simple quote tool to find out what your auto insurance cost could be!
Is Auto Insurance a Requirement?
Most states require auto insurance by law. If you are caught driving without car insurance in a required state, it will almost always result in a serious fine, suspension of your license, and sometimes even jail time. Weed Ross works with our clients to ensure that each auto insurance policy fits that state’s particular requirements. Check with your insurance agent to make sure, but basically, it’s way better to have auto insurance than to not, even if you aren’t sure of your area’s laws.
Still have questions about auto insurance? Contact us or drive on over (safely) to the nearest Weed Ross location, we’re always here to help!
