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Breaking Down Newport News Auto Insurance Coverage

Posted on: August 26, 2014 by titan-goodrich

Breaking Down Newport News Auto Insurance Coverage

Virginia auto insurance is one personal insurance policy that nearly every Virginian will need at some point, but finding great coverage at reasonable rates can be quite a challenge. When searching for auto insurance it is vital to understand the varying components which will impact the terms of a policy as well as the price.

Auto insurance is essentially a contract between the insurer and a policy holder which ensures that financial protection will be provided to the policy holder in the event of specific events or damages. While auto insurance is designed to cover a vehicle and its driver, the policy is taken out on a vehicle not for a driver. There are six basic coverage options consumers can piece together when crafting an auto insurance policy. The basic coverage inclusions are:

  • Property Damage Liability is designed to help cover expenses which may arise from a vehicle collision with other third party property.  This coverage will help the insured pay for damages done to other vehicles, structures and other public and private properties that are the result of an auto accident.
  • Collision Coverage is designed to benefit the owner of the insured vehicle, by providing financial protection for damages sustained to the insured vehicle. Collisions coverage however will only help pay for damages and repairs that are the direct result of a collision.
  • Comprehensive coverage is additional property coverage which will protect the insured vehicle from damages caused by non-accident related factors. Comprehensive coverage is designed to reimburse policy holders for destruction cause by a variety of “other” factors, such as theft, vandalism, fire, flood, earthquake, hail and other events.
  • Bodily Injury Liability coverage is designed to protect the policy holder from bearing the financial burden of paying for injuries or fatalities suffered by a third party during an accident. When a driver is found to be at fault for a vehicle accident, the medical or treatment expenses suffered by the non-at-fault injured parties will often fall to the at-fault party. This coverage will help pay those medical or burial expenses, and is required in many states.
  • Medical Liability, also known as Personal Injury Protection, is a coverage designed to help the policy holders pay for their own injuries or injuries sustained by passengers of the insured vehicle.
  • Uninsured/ Underinsured Motorist coverage is designed to protect insured motorists for absorbing the full financial burden of an underinsured at-fault driver. Should the at-fault party lack the ability to pay for the non-at-fault party’s losses or should a hit-and-run occurrence arise, this coverage will help policy holders compensate for the shortcomings of the at-fault driver.

The coverage limits, along with the chosen coverage inclusions, will determine the amount you as a consumer will pay for car insurance. Having an experienced Virginia auto insurance specialist on your side can be a huge help when trying to determine which coverage is the best fit for your needs. At Goodrich & Watson we are here to help. Our auto insurance specialists can help design you a policy that fits all your needs to protect you, your loved ones and your assets. Give us a call today at (888) 829-5004 to learn more about how we can help secure complete Virginia auto insurance coverage for your vehicles at an affordable price.

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