Financial Security and Your Homeowners Policy

Each year, more automobiles and drivers are on the highways. This can lead to a higher possibility of a collision. Automobile insurance can be the difference between a minor inconvenience and a major hassle. How can you decide what insurance you need and how to buy it? Required coverage varies by state/province but typically includes the following: Liability: This type of insurance coverage will pay for the damage that you have caused. These damages can include personal injury, and property damage. Bodily injury damages include medical fees, lost wages, and pain and suffering. Property damage can refer to damaged property or loss of property use. If you are in legal trouble, liability insurance will pay for your court costs. Recommended, more comprehensive levels of liability insurance can be purchased that take care of more than the lower, state-mandated varieties. Personal Injury Protection: This is required in some states and is optional in others. Sometimes referred to as no-fault coverage, this pays the medical treatment for you or your passengers regardless of who was at fault. This insurance may also pay for lost earnings, service replacement and funeral expenses. Local government typically sets minimum amounts. Medical Payments: This type of coverage can be purchased in non-no-fault states and will pay regardless of who is responsible for an accident. It pays for all insured person's necessary medical and funeral expenses resulting from an accident. Collision: Damages that occur from a collision will be paid for under this type of insurance. Comprehensive: This applies if your vehicle is stolen or damaged by causes other than a wreck, including fire, wind, hail, flood or vandalism. Uninsured Motorist: Too many drivers are ignoring the law by driving without owning the right amount of car insurance. This type of coverage will cover you if one of these irresponsible drivers hit you. Under-Insured Motorist: Similar to uninsured motorist protection, this type of insurance covers you from drivers without sufficient insurance coverage. Emergency road service, car rental, and other types of coverage can also be purchased. State Farm Clermont

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