Auto Owners Insurance Guide

If you own a vehicle, you also need auto owners insurance. What exactly is required of auto owners, though? Here's everything you need to know about auto owners insurance:
Keeping You Safe

Auto owners insurance protects you in the case that you or your car are involved in an accident or are a victim of theft. Auto insurance covers the costs associated with the repairs and losses that an accident cause - once you pay your deductible, the auto insurance company will cover the rest.

Did you know that all states require a minimum amount of liability coverage in order to drive a vehicle? While some states require more than others, any car you are driving must have, at minimum, basic auto owners insurance coverage.
Keeping Other Drivers Safe

If you are involved in a car accident with another person and the accident happens to be your fault, the fees associated with the accident can add up to a hefty amount. From car repair to medical costs, auto owners insurance covers you and anyone you harm in the case of an accident.
Auto Owners Insurance Coverage

If you only purchase the minimum auto insurance coverage required by your state, you'll be considering the following types:

* Bodily Injury Liability: This insurance covers items such as medical costs associated with an accident as well as legal costs if you are sued
* Property Damage Liability: If your car is totaled or you damage someone else's car or property in an accident, property damage liability will cover the costs after your deductible is paid
* Uninsured or Underinsured Motorist Coverage: In the case that you are involved in an accident or a hit-and-run with person that is under or uninsured, this coverage will ensure that your medical and property costs are still taken care of

There are a number of other auto owners insurance coverage types on top of the basics outlined above, including:

* Collision: Collision coverage ensures that your repairs are taken care of in the case of an accident. This includes replacing car parts and is more detailed than the property damage liability coverage
* Comprehensive: Comprehensive covers you against factors that aren't foreseeable, such as floods, fire, vandalism and theft. If you live or work in an area prone to these factors, comprehensive coverage may be an additional auto owners insurance you want to own
* Medical Payments: Medical payments coverage goes above and beyond and pays the costs that your health insurance may not, especially if they are associated with an accident that was your fault.

Finally, now that you have your coverage options taken care of, it's time to pick out your deductibles. Remember that deductibles are the amount you will pay out-of-pocket to get the services and coverage you purchased. If you select a high deductible, such as $1,000, you can expect to pay up to that amount for any repairs or damages to your car; once the $1,000 deductible is met, your auto insurance company will cover the rest