When you buy or lease a car, it’s important to protect your investment. In the event that you are involved in an accident or that your car is stolen, vandalized, or damaged by a natural disaster, having auto insurance can give you peace of mind.
Auto accident victims pay annual premiums to an auto insurance company rather than out of pocket; Then, the company covers all or most of the costs of an accident or other damage to a vehicle.
Important Takeaways Car insurance is designed to safeguard you from financial loss in the event of an accident or damage to the vehicle.
The minimum amount of liability insurance coverage is required by most states; Some also require additional types of insurance, like uninsured motorist coverage.
Deductibles are the sums you pay when you file a claim, while premiums are the amount you pay to keep your auto insurance policy current on a monthly, biannual, or annual basis.
For the best coverage for your vehicle at the best price, it’s important to shop around for the best car insurance rates.
