The Auto Insurance Coverage You Need and Why

Like cars, auto insurance policies have different parts with different functions. In this article, we’ll discuss the three types of coverage that most states require owners of registered vehicles to carry—bodily injury liability, property damage liability and uninsured motorists coverage.

Continue reading “The Auto Insurance Coverage You Need and Why”

Should You Buy Rental Car Coverage?

Travel Insurance

If your vacation plans require a rental car, knowing what your existing insurance policies cover could save you money.

 

The next time you rent a car and the agent asks whether you want the optional coverages, should you say yes or no? Buying them will add substantially to your car rental costs—if you buy all the additional coverages offered, you’ll add at least $18 to the rental charges per day. Are these coverages worth it? Read on for more information.

CDW or LDW

The collision damage waiver (CDW) or loss damage waiver (LDW) cost the most of any of the optional coverages, about $10-$25 a day. Although the CDW and LDW are not insurance, they will waive your financial responsibility if a car you rent is damaged or stolen.

When you sign a rental car agreement, you agree to become responsible for any damage to the car. Continue reading “Should You Buy Rental Car Coverage?”

Why You Need Uninsured/Under-Insured Motorist Coverage

Uninsured drivers cost every insured driver $14 annually, according to the Insurance Research Council (IRC). If you are unlucky enough to encounter an uninsured driver, your costs could be much higher…unless you have the right insurance coverage. Continue reading “Why You Need Uninsured/Under-Insured Motorist Coverage”

How Your Credit Score Affects Your Insurance Costs

With the recession of the past few years, many individuals’ credit scores have taken a hit. In addition to affecting your ability to get a mortgage, loan or credit card, your credit score can also affect how much you’ll pay for your insurance. Continue reading “How Your Credit Score Affects Your Insurance Costs”

Auto Insurance: How to Know What You Are Buying

Personal risk management includes knowing your policies and what they cover. The following article will help you understand the various parts of your personal auto policy (PAP) and what to look for.

When you buy auto insurance, you enter into a legal contract with your insurer. Continue reading “Auto Insurance: How to Know What You Are Buying”