5 Key Types Of Car Insurance

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When you’re deciding how much car insurance you need, it comes down to picking the right types and correct amounts of coverage. You want to make sure you’re sufficiently protected without overpaying for the coverage you might not need.

CNBC Select breaks down the types of auto insurance coverage and how they work so you can decide whether to add them to your policy.

1. Liability insurance

2. Uninsured and underinsured motorist coverage

Auto-Owners Insurance

  • Cost

    The best way to estimate your costs is to request a quote

  • App available

  • Policy highlights

    Auto-Owners offers affordable premiums with high customer satisfaction ratings. There are 12 different types of discounts available, as well as various other types of insurance besides auto.

However, when you carry the minimum amount of insurance required, you leave yourself vulnerable to the financial distress that an accident can cause. From medical expenses and lost wages to repair costs and sometimes legal fees, a single accident can wreak havoc on your finances — especially if you’re found at fault. Plus, minimum coverage doesn’t protect you in instances of theft, vandalism and car theft.

To avoid that, you may need to significantly increase the amount of insurance you carry and add additional types of coverage to your policy.

3. Collision coverage

4. Comprehensive coverage

Nationwide Auto Insurance

  • Cost

    The best way to estimate your costs is to request a quote

  • App available

  • Policy highlights

    Nationwide offers near-nationwide availability and personalized services, such as On Your Side® Review, a free annual insurance evaluation to ensure you are adequately protected and are taking advantage of any discounts available to you.

5. Personal injury protection

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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

Sumber: www.cnbc.com

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