5 Different Types of Car Insurance

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5 Different Types of Car Insurance

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Los Angeles Car Accident Attorney

If you own a car, the last thing you want is for it to get damaged in some way. Unfortunately, this is one of those things you don’t have much say in. No matter how great of a driver you are, accidents of one kind or another are nearly inevitable. Someone may leave a big scratch on it, or you may get into a minor accident that ruins your fender or dents your door.

At times like these, having car insurance comes in handy.  Here are five car insurance alternatives you can choose from.

#1 Gap Insurance

You can never bet on a car to remain intact forever. The last thing you would want is for it to be totaled while you are still paying for it. This is where gap insurance comes into play. In the simplest of terms, it is the difference between what you owe your lender, and the actual current value of your car. If your car is totaled, its actual current value will probably be far lower than the amount outstanding to pay back the lender. This outstanding amount is covered by gap insurance.

#2 Medical Protection

Not many people in the United States have a top-quality medical insurance plan. This is why it is important to have medical or personal injury protection (PIP). This guarantees that in case of an accident, your medical expenses will be borne by the insurance company, regardless of whose fault the accident was. In other words, if an accident happens, finances are one less thing you will need to worry about.

#3 Uninsured Motorist Protection

Imagine if you get into an accident where the other person is at fault. He or she will have to bear all the financial damages, right? Actually, more often than not that a person guilty in an accident doesn’t have an insurance that covers your damages. In that case, having uninsured motor protection will pitch in for the damages on top of whatever amount the person at fault is able to pay. In other words, the damage will be covered one way or the other.

#4 Collision Insurance

While this is not compulsory, having collision insurance will ensure that you won’t have to pay for any repairs in case there is an accident. The entire amount is covered by the collision insurance policy. However, if the amount that is required to repair your automobile is greater than the value of your car, then the insurance company will pay for the latter.

#5 Liability Insurance

Another common form of car insurance includes liability insurance. Several states in the US including California have a requirement that every resident must have liability insurance.

Requirements include:

  • $15,000 for injury/death to one person.
  • $30,000 for injury/death to more than one person.
  • $5,000 for damage to property.

This insurance pays off the medical expenses of the person in case of an accident. In addition to that, it also covers the repairing costs of any damages you may have done in an accident, including car or property damage.

 

Visit the California DMV website for more helpful information regarding car insurance specifics.

Get a Los Angeles Personal Injury Attorney Behind You

What most people don’t know is that having car insurance is no guarantee of recovering the financial compensation you deserve, especially if you suffered any type of bodily harm.  You need to consult with a trusted car accident lawyer in Los Angeles if you or a loved one were seriously injured in an accident.

The Law Offices of Jacob Emrani has handled scores of car accident cases, fighting to obtain the compensation our clients need to cover their medical costs and, property damage, and other related losses.

Call us at (888) 952-2952 to set up your no-cost consultation! 

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