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There are many different types of auto insurance policies that a person can choose from, depending on the type of vehicle that they drive. Some coverage is mandatory and some is optional.

The most common insurance coverage that is purchased is liability. This is because it is mandatory in most states. Liability provides you financial protection against lawsuits if you are found to be at fault for an accident that causes injuries or property damage. Without this insurance, you would be responsible for paying medical expenses and vehicle repairs. Bodily injury covers any costs associated with an injury such as x-rays, medical procedures, physiotherapy, or chiropractic care. In more serious cases, it may pay for rehabilitation and recovery programs. Property damage pays for repairs to another person’s vehicle or other personal property, which could be a fence, a home, or other structure on a person’s property.

There is other coverage that is commonly added on to an auto insurance policy. These insurance products cover physical damages to your vehicle. Collision pays for damages sustained in a collision or upset and comprehensive covers damages incurred from a fire, theft, vandalism, or animal collision. This coverage requires you to pay a set deductible before the insurance company will start to pay for the remaining amount. This is a common insurance that people add on if they have a relatively new vehicle. If the vehicle is leased or financed, this physical coverage is mandatory. This is because the financial institution that has extended the loan has a financial interest in the vehicle. If your vehicle is deemed a total loss and you will be receiving a payout from the insurance company, the lien holder is entitled to their share of the check.

Uninsured/underinsured motorist coverage is mandatory in some states and is a commonly used coverage. There are many people who drive the streets without insurance or they do not have an adequate amount to cover for damages if they cause an accident. This insurance will protect you financially if you are involved in an accident with an uninsured or underinsured driver. Without this coverage, you cannot make a claim against the other party’s insurance company. You could sue them for the damages and medical expenses but it will be difficult to recover any costs from that person.

No matter what make and model of vehicle you drive, you will need to purchase auto insurance. The coverage you choose will depend on many factors. Your insurance agent will help explain the benefits of each level of coverage so that you can make an informed decision and choose the insurance that is the best fit for you and your vehicle.