Different Types Of Accident Insurance

By Susan Reynolds

You will want to cover the costs of an accident without having to pay them out of your pocket. For this reason insurance to cover your vehicle is of the upmost importance. Accidents can cause thousands of dollars in damages and medical bills. To avoid having to pay these bills or being sued you should at least have basic insurance. Before you decide on which type of insurance is best for your needs you should consider a few different factors.

The most basic type of insurance is liability insurance. This type of insurance is the type of insurance that many states require as a minimum. Liability insurance will only cover the third party and the third party?s property that were involved in the accident. If you have damages to your vehicle then you will have to repair it and pay for it yourself. Liability insurance is inexpensive and mainly used to protect others in the event of an accident.

You may also consider getting coverage for damage sustained from accidents not involving other vehicles. If you live by the ocean for example, you may have to worry about storm damages from hurricanes. People who live in the inner city are more concerned with vandalism and theft. A 4x4 is particularly more expensive to cover since it is considered a high-profile vehicle. Insurance agents will categorize it as being more likely to suffer these types of losses, and therefore it becomes a greater hazard to cover. Look over these types of policies carefully since some don?t cover specific types of damages.

Full coverage insurance, which is also known as comprehensive insurance, will fully insure you and your vehicle. This means that your vehicle as well as the third party?s property and all medical bills will be covered. This type of insurance will be the most expensive type of insurance but it also includes vandalism and weather damage. For older vehicles comprehensive insurance isn?t worth the premium that you will pay. However if you have a vehicle that has a lot of value to it then you will want to have full coverage.

If you are an extreme 4x4 enthusiast who likes to go off road or you go to competitions with your vehicle then you will need to get a special type of insurance to cover these events. If you do competitions or off-roading often then you will want to consider adding to your policy. However if you do events only once in a while then you can save on costs by having it covered for that one day. It?s important to know the policies of your insurance company as some insurance companies will cancel your policy if you go off road.

Choosing the proper insurance for your 4x4 vehicle can be difficult. You need to be careful when you?re looking at various companies? policies as they are not all the same. Some companies have different guidelines they use in their policies. It?s important to ensure that the policies are as close to each other as possible when you?re comparing rates from different companies. - 21392

About the Author:

Susan Reynolds is the webmaster for a leading South African Insurance Portal that provides consumers with the best Car Insurance Options.