We want you to have the peace of mind that your auto insurance policy will take care of your vehicle if it is damaged by an accident, fire, theft, or other event. But which type of insurance is right for you? Each state has different auto insurance laws; some require liability insurance — which covers the property losses you cause others. Others require no-fault insurance which covers medical and other injury-related expenses for you and your passengers, regardless of who is at fault. Some states require both liability and no-fault coverage.
Even in states where insurance coverage is not required, there are two important reasons to obtain insurance:
State laws mandate that drivers must be able to pay for losses they cause others. Insurance provides the confidence that an accident will not leave you alone to cover costly property and medical expenses.
Prior to extending a car loan, lending institutions often require insurance that will cover damage to your vehicle.
There are two types of insurance for these circumstances:
Collision insurance pays for any repairs needed for your vehicle after an automobile accident, up to the fair market value of your car.
Comprehensive insurance pays for other types of damage done to your car, such as by theft, vandalism, or natural disasters (e.g., flood, hurricane, tornado, fire), up to the fair market value of your car.
Otium Agency understands the car insurance needs of our customers and understands that each situation is unique. We will help you find the insurance that works for you, at the price and value that suits your needs. Contact us today for help selecting the right car insurance policy.