Different Types of Health Insurance in California
Whether you buy group or individual health insurance in California, the options you have regarding the different types of health insurance are generally the same. In some groups you can even choose from available plans. These different types are traditional health insurance, health mainten... Read more
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Because, all states have financial responsibility laws you must have at least auto liability insurance, or you must have sufficient funds and/or assets, based in you states requirements, to pay any damages you cause in an auto accident. In addition, many financial lenders require a certain amount of auto insurance until the car loan is repaid. What type of auto coverage is available? There are basically six types of coverages available through reputable insurance companies. Each coverage provides financial protection for different types of losses and damages, and is priced separately. 1. Bodily Injury Liability Mandatory in most states Pays up to the coverage limits for damages due to injury or death of others you cause, and for legal costs. 2. Medical Payments or Personal Injury Protection (PIP) Optional in most states without no-fault coverage Pays up to the coverage limits for physician, hospital and funeral expenses for you and/or your passengers injured or killed in an accident. 3. Property Damage Liability Mandatory in all states Pays up to the coverage limits for someone else s damaged vehicle or property for which you or the operator of your vehicle is legally responsible. 4. Collision Required for vehicle loans Pays for damage to your vehicle caused by a collision or rollover. Depending on your deductible, you will need to pay some of the expense out of pocket. Deductibles range from $250 to $1,000. 5. Comprehensive Required for vehicle loans Pays damage to your vehicle caused by theft, fire, vandalism, flooding, hail, or collision with something other another car such as an animal. Deductibles range from $100 to $300. 6. Uninsured and Underinsured Motorist Coverage Pays up to the coverage limits for injuries and damages an uninsured or an underinsured motorist causes to you, your family and your vehicle. How much coverage do I need? Most states only require the minimum amount of liability coverage. However, you should consult with your insurance company to discuss the best type and amount of insurance coverage you will need based you your driving habits. The minimum coverage may not be enough to pay for all the damages caused by you. The Insurance Information Institute (I.I.I.) recommends that you have $100,000 of bodily injury protection per person and $300,000 per accident.
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