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Auto insurance is a contract between the policyholder and the insurance company. The policyholder agrees to pay the premium and the insurance company agrees to pay losses as defined in the policy.
Auto liability coverage is mandatory in most states. Drivers are legally required to purchase at least the minimum amount of liability coverage set by state law. Liability coverage has two components:
Bodily injury liability can help pay for the costs related to another person’s injuries if you are the cause of an accident.
Property damage liability can help pay for damages you may have caused to another person’s property while driving.
Comprehensive coverage can help cover damage to your vehicle from differnt events such as theft, fire, hail or vandalism. If your car is damaged by a covered peril, comprehensive coverage may help pay to repair or replace your vehicle (up to the vehicle’s actual cash value). This coverage has a deductible, which is the amount you’ll pay out of pocket before your insurer reimburses you for a covered claim.
Comprehensive is usually an optional coverage, but your lender/finance company may require it if you’re leasing or paying off your vehicle.
If you’re involved in an accident with another vehicle, or if you hit an object, collision coverage can help pay to repair or replace your car (up to its actual cash value and minus your deductible).
Collision coverage is usually an optional coverage, but your lender/finance company may require it if you’re leasing or paying off your vehicle.
Personal injury protection, or PIP, can help pay for your medical bills after an accident, additionally PIP may also help cover other expenses as a result of your injuries.
If you are hit by a driver who does not have insurance, uninsured motorist coverage can help mitigate cost related to medical bills or, in some states, repairs to your vehicle. If you’re hit by an underinsured driver, that means they have car insurance but their liability limits aren’t enough to cover your resulting medical bills. That is when underinsured motorist coverage may help.
Texas shield insurance has been covering the city of Houston with excellent service providing a range of insurance coverages since 2007.
