You don’t have to worry that an accident or injury involving your vehicle will bankrupt you financially. Having the right auto insurance policy will help you get back on the road in no time at all if your car is damaged or destroyed by a collision, fire, theft, vandalism or any other qualified event.
Your policy may also provide you with valuable protection against any medical and legal expenses that are a result of injury, loss of life, or damage to property caused by an accident involving your vehicle.
What is an auto insurance policy? Quite simply, it is a contract between an insurance company and you–the insured–that provides you protection and reimbursement for specific car-related financial losses during the policy term, and in return, you pay a set premium for the benefit of having this protection.
The Fite Agency can insure your motorcycle, boat, jet ski, classic car, RV, and ATV too! We will help you find just the right policy that will provide you with the best coverage. Contact us today for more information.
Auto insurance requirements vary from state to state, so it’s important to make sure you know which coverage you need according to where you live. In all states, in order to finance a car, it is usually required that you have insurance that covers any damage to your vehicle. In Texas, you are legally required to have liability insurance in order to drive. Even in states where this isn’t required, drivers are legally bound to pay for losses they may cause others. Having an auto insurance policy will cover you in the event you cause damage to your vehicle, or damage or injure another person or vehicle.
This includes:
Collision Insurance
Should you damage your vehicle in an automobile accident, standard collision insurance will cover the costs of repairs up to the fair market value of your car. This type of auto insurance typically comes with an insurance deductible, which is the amount of money that you pay toward a repair before collision insurance kicks in to pay the rest. If you are willing to pay a higher deductible, your collision coverage will cost less.
Comprehensive Insurance (Other than Collision)
Comprehensive insurance covers any damage that happens to your vehicle other than collision damage. This typically includes events such as theft, vandalization, flood and hurricane damage, windshield damage and fire. Similar to collision insurance, comprehensive insurance will cover any damages up to the fair market value of your car (less the specified insurance deductible).
Although comprehensive insurance is not mandated by any state, you will likely need it if you finance your car. Each auto insurance policy is different – talk the Fite Agency today to learn about which coverage you need to comply with state regulations and make sure that you are completely covered when you hit the road.
