Every state requires drivers to carry at least some form of car insurance. Depending on where you live, your policy may also cover injuries and property damage from accidents. If you don’t have insurance, the other party involved in the accident will have to pay for any injuries or damages.
The bare-bones auto insurance policy is often cheaper than the coverage you can get with additional options. You can choose how much to pay each month or year. Often, the policy is renewable.
Getting a full comprehensive insurance policy is necessary if you borrow a car, lease it, or have a loan on it. This will help cover repairs and medical expenses after an accident. Also, this type of coverage protects against vandalism and other risks.
In some states, you will be required to purchase medical payments, a type of medical coverage that pays for your direct medical expenses after an accident. Other types of insurance include liability, which covers damages to other people and their vehicles, and personal injury protection, which pays for medical costs after an accident.
The first thing you should do is gather multiple quotes. Find out what your state requires, and compare the rates. Your location, age, and driving record will impact the cost of your insurance.
You can lower your premiums by choosing a higher deductible. For example, if you choose a $500 deductible, you’ll pay the first $500 of any damage to your vehicle.