Auto insurance guides, including how to choose insurance, how to assess premiums, and factors that affect premiums.
Car insurance’s usual project (coverage)
The first item is liability insurance (Liability)
This item is required by law to be purchased by motorists. When the driver causes damage or physical injury to the other party due to his own fault, the insurance company will pay for the damage caused. But one thing to note is that this insurance does not pay the perpetrator’s own car and physical damage. If the perpetrator causes the other party’s losses to exceed the insured amount, the insurance company will not pay the excess. In other words, this is a limited amount of compensation. Usually the liability insurance premium is between $300 and $400 a year. The maximum compensation for car losses is around $10,000 to $50,000, and the physical damage ranges from $100,000 to $300,000. Large cities such as New York, Washington, Los Angeles, etc., have higher insurance premiums than small cities, because the possibility of a car accident in a big city is much higher than in a small city.
The second item is Collision Insurance (Collison)
This insurance is not required by law to buy. This insurance is actually an extension and supplement to the first liability insurance, which is used to pay for the damage of the car and the body caused by the driver’s own fault. Many people with new or expensive cars will buy this insurance, in case the damage to their car due to their own fault, the loss can be recovered from the insurance company.
The third item is accident insurance (Comprehensive)
This item is not a legal requirement and must not be bought. It mainly compensates for losses caused by theft and the natural environment. In many big cities in the United States, car theft or shackles have occurred. For those who live in big cities and have new cars or good cars, spending one hundred dollars a year to buy this kind of insurance can save many worries. However, people who live in small towns or in good public security areas do not have to buy. This insurance also pays for losses caused by accidents. If the car is parked on the side of the road, the trees fall on the car and cause damage.
The fourth item is to protect the other party from insurance or underinsurance (Uninsured/Under-Insured Motorist)
The content of this insurance, although the accident liability is not in itself, but the faulty other party is physically injured, and either has no insurance, or the insurance amount is very low, unable to pay or pay the full treatment fee, so you must pay for him. Obviously, this is a very strange insurance. However, many poor people in the United States do not buy auto insurance, so some states have laws in place. In this case, the unpaid, but insured party pays for the treatment. As a result, this insurance has become mandatory in these states and is very unfair. However, the insurance cost is very low, usually around 10 to 20 dollar.
Other items of car insurance
1 Bodily-injury liability
It is insurance that must be purchased, and almost every state has this requirement. Mainly pay the other party’s medical, rehabilitation and funeral expenses, and some also pay legal fees and mental damage. The amount of payment can be up to $500,000 per person, or $1 million per event. Of course, the amount of compensation may exceed the amount covered by the insurance.
2 Property-damage liability
Compensation for the vehicle damage of the car accident, including repair and replacement costs, as well as other property losses, purchase insurance claims. The amount of compensation ranges from $5,000 (minimum standard) to $100,000.
3 Personal-injury protection
Mainly pay for your own medical and funeral expenses, the salary lost due to a car accident, regardless of the cause of the accident, if you have his own health, life, disability insurance, as long as the state meets the minimum requirements.
4 Uninsured and underinsured motorist coverage
If the other party is not fully insured, pay for your medical care, rehabilitation and funeral expenses. Especially in densely populated areas, many people do not have insurance, and only self-insurance, each person at least 100,000 US dollars, each trip accident 300,000 US dollars; Uninsured-motorist property damage is to pay for car losses.
5 Collision
Regardless of the car accident caused by any reason, pay for your own damage caused by the crash, at least $250.
6 All-inclusive insurance (Comprehensive)
Compensation is payable regardless of the car’s loss for any reason.
7 trailer (Towing)
Pay for the trailer of your own car.
8 Rental reimbursement
Pay for your car rental when the car is not available.
Factors affecting premiums
1 ticket
The accident file a claim, or the insurance ticket will increase the premium, this everyone knows I will not say.
2 driving experience
This basic can be said to be the most important factor. The longer the driving experience, the lower the premium. Of course, this is based on the absence of an accident record. In addition, the permit will be higher than the premium of the valid driver’s license, and some companies will not give the permit at all.
3 years
The older you get, the lower the premium. The premium for teenagers will be high, and the premium will drop a lot after the age of 25.
4 gender
In the same situation, girls will have much lower premiums than boys.
5 marital status
Married people have lower premiums than unmarried people, if children have lower premiums
6 location
The premiums of cities are higher than those of rural areas. The higher the traffic, the higher the premiums, and the different premiums in the state are also much worse. (New York State premium is high >.<)
7 housing
In addition, renting a house is a little higher than having a house.
Insurance tips
Driving without insurance is illegal and was caught by the police with a maximum fine of 1,400 yuan. Here is more to say, the proof that must be placed in the car: car insurance, Registration Card; carry: driver’s license; TITLE should be placed in a safe place at home, never in the car;
During the effective period of the insurance, the insurance coverage can be freely changed, or the insurance can be terminated early and refunded;
The car insurance can be purchased on a monthly basis, but it will cost a few dollars;
If you have deductible (the amount of insurance should be deducted), as long as the repair cost is higher than your Deductible, the insurance company is fully responsible and does not need to pay any money. If the repair cost is lower than deductible, you need to contact the insurance company of the other party, they will be fully responsible.
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