Auto Insurance in the Changing Economy

It’s always important to understand what type of auto insurancecoverage you carry, but now more than ever we need to pay close attention. This is according to the article “Car Insurance in the New Economy” by Ed Normund on Injuryboard.com. The recession is causing more and more drivers to cut back on their coverage or eliminate auto insurance altogether and this may cost you in the long run.

The article recommends certain types of coverage that can help protect you during these tough times:

Bodily Injury Liability - pays for injuries that you cause to another based on negligence
Property Damage Liability - pays for property damages that you cause due to negligence
Umbrella Insurance - covers you for bodily or property damages from auto accidents
Uninsured Motorist Protection - covers injuries to you and others when hurt by someone else
Comprehensive coverage - covers your car for damage caused by theft or other events
Collision insurance - covers you for damage to your car when in a crash with someone else
Medical Payments or Personal Injury Protection Insurance - covers you and your car occupants for limited medical payments with no regard to who is at fault

Take the time to understand what is included in your auto insurance policy to ensure you are fully protected. What type of coverage you have does factor into your rates, so consider closely what you do and do not need to ensure you have adequate and affordable auto insurance. It’s often better to be safe than sorry in the case of a car accident.

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