Do you need full coverage car insurance

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Do You Need Full Coverage Car Insurance? If you
have ever bought or shopped for car insurance,
you may have heard or saw the term "full
coverage". Essentially, full coverage is having a
policy which exceeds the minimum, and carries all
the basic types of car insurance. The tricky
thing about it? It's completely optional to have.
To drive in the U.S. you are only required to
carry the minimum. Just like an extra credit
assignment though, opting for full coverage could
be well worth it.
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So What is Full Coverage Exactly? Full coverage
car insurance is a policy that includes bodily
injury liability (BI), property damage liability
(PD), under/uninsured motorist insurance (UMI),
collision, comprehensive and sometimes personal
injury protection insurance (PIP). Those are all
various parts of car insurance, each covering
different things, for different people. Let's
break it down. BI and PD are liability
insurances, which are used to pay for other
people's damages. BI takes care of their injuries
while PD takes care of any car or structure
damages. Only another driver can file a claim
through them their sole purpose is to ensure if
you crash into someone causing damage, you can
pay for it.
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The second part of full coverage is collision,
comprehensive, and PIP . These insurance types
are considered "first party benefits" and they
are meant for the policyholder to pay for their
own damages. Collision will cover you from having
to pay for damage to your own car, even if you
were the one to cause the damage. Comprehensive
coverage includes damage to your car that is
caused by an external force, such as a storm,
vandal, or errant baseball. Personal injury
protection is used to pay for your own medical
bills, if you are injured in an accident
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Why You Should Consider Full Coverage No one
likes to think about getting into a car accident,
but it is important to be prepared--especially
for the aftermath. The post-accident time can be
incredibly stressful, more so if you are dealing
with injures. You need to file claims, get damage
appraised, deal with adjusters a process that
can be easier or harder depending on the type of
coverage you have.
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If you only have basic insurance, then you will
need to file a claim through the other driver's
insurance company. This process can take months
to sort out, and may require a lawyer, which
comes with hefty fees. All the meanwhile, you
will have to pay out of pocket for any expenses
until you settle the claim. In the end, there is
still a good chance you won't even get the exact
amount you wanted.
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If you have full coverage, however, any injuries
you sustained would be taken care of through your
PIP, while damage to your car would have been
taken care of through your collision insurance.
Both claims would not require any fault to be
proven, since it is your own policy, through your
own company. So, while getting into an accident
is rare, when it does happen, full coverage will
make the process much smoother.
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Unfortunately, It Isn't Exactly Cheap Overall,
we found the national price for full coverage.
For one, setting a higher deductible for
collision and comprehensive is a way to reduce
your monthly payments. Secondly, you can reduce
your premium through discounts. Discounts for
being a good student, being a safe driver, or
having another policy with the insurance company
are just a handful of discounts that can reduce
your premium by as much as 20.
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Lastly, and perhaps the easiest thing you can do,
is to shop around. Car insurance prices can
differ by thousands of dollars just within a
single city. There are so many companies, each
with their own pricing methods, the odds are that
whatever you are paying now can probably be found
at a cheaper price in your neighborhood. Source
http//www.huffingtonpost.in/entry/do-you-need-fu
ll-coverage_b_11818966
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