How to Choose the Best Auto Insurance Policy for Your Needs - Schuetz Insurance
Apr 2023

How to Choose the Best Auto Insurance Policy for Your Needs

Insurance

While car manufacturers have deployed technologies that are making cars safer than ever, traffic fatalities continue to rise in the United States. In fact, up to 50 million people are injured every year in traffic accidents, which is considered to be the third leading contributor to injury worldwide.  

In the United States, if you own a car, you must be able to pay for expenses arising from a car accident if you or another person driving your vehicle causes one. Each state has its own laws and regulations governing the financial responsibility associated with accidents, but purchasing car insurance is, by far, the most economical way to show you have proper financial responsibility.  

 

Choosing the Right Auto Insurance Policy Is Easy with Professional Assistance 

Every auto insurance policy can include several types of insurance coverage. Using a professional insurance expert’s advice in creating the right policy for your particular needs is key, and that can change depending on which state you live in. Let’s take a look at some of the basics to get you started: 

 

The Six Basic Types of Policies 

Each type of policy is priced individually, so pricing and policy limits will vary depending on your choices. However, there are six basic types of auto insurance policies: 

Bodily Injury Liability — This policy type ensures that you, the policyholder, are covered for any bodily injuries you cause to yourself or someone else while driving your vehicle or someone else’s vehicle with their permission. It is very important to have enough of this type of insurance. If you are involved in an accident that is serious, you can be sued for a large sum of money that can impact your savings, home, and other assets if you are underinsured. 

Personal Injury Protection — This provides protection for the driver and any passengers in the policyholder’s car in the event of an accident. It can cover payments for medical treatment of injuries, wages lost due to injury, and even funeral expenses. 

Property Damage Liability — If someone driving your car damages someone else’s property, this policy helps to pay for damages to structures such as homes, fences, poles, and other vehicles.  

Collision — If your car collides with another object such as a fire hydrant, a telephone pole, or another vehicle, collision coverage can help pay for car repairs caused by the accident, even if you are at fault.  

Comprehensive — Comprehensive coverage, typically sold as another deductible, helps to cover you for damage or theft caused by something other than an impact with an object or other vehicle. Events considered under this policy include collisions with animals such as birds or deer, cracked windshields, and damage due to vandalism, riots, falling objects, hail, flood, and others. 

Underinsured Motorist Coverage — If your vehicle is hit by a motorist who is either uninsured or underinsured, this coverage ensures that you have the right amount of insurance to get reimbursed for your total losses. It also covers you in the event you are struck by a hit-and-run driver or you are struck by an uninsured or underinsured motorist while walking as a pedestrian. 

 

But How Much Coverage Do I Really Need? 

After you get a firm understanding of the different types of auto insurance and your state’s specific requirements, an insurance professional can help you put together a strong policy that meets your needs. 

Typically, you will want to go above and beyond state minimums to ensure you have enough coverage to protect you from financial hardship in the event of an accident. And, in states where policies such as comprehensive and collision coverages are not required, it is recommended that you carry these policies to avoid potential financial pitfalls.  

 

Get Expert Help Creating the Most Affordable — and Protective — Auto Insurance Policy 

Choosing an auto insurance policy that keeps you and your family protected financially in the event of an accident is critical. Accidents can happen at any time and, depending on the circumstances, can cause financial difficulties or even disaster if you are not adequately protected. 

At M.J. Schuetz Insurance, we have a team of auto insurance experts that are ready to share their vast knowledge of policy intricacies with you to help you create an auto insurance policy that is not only protective, but affordable. We can help you sort through the details and determine which coverage levels will give you and your family the right amount of protection for your specific needs, without overbuying. Contact us today to get expert help with your auto insurance policy needs, and don’t forget to drive safely! 

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