Auto insurance provides financial protection against physical damage or bodily injury resulting from traffic collisions and against liability arising from incidents involving your vehicle. It’s required by law in most states.
Factors include your age, driving history, vehicle type, location, credit score, and the coverage options you select.
Comprehensive covers non-collision-related damages like theft, vandalism, or natural disasters. Collision covers damages resulting from an accident involving another vehicle or object.
This covers your costs if you're in an accident with a driver who has no insurance or insufficient insurance.
Yes, but your premiums will likely be higher. Some insurers specialize in high-risk drivers.
In most cases, insurance follows the car, not the driver. Your policy will typically cover the accident, but it’s essential to check your specific policy terms.
A deductible is the amount you pay out-of-pocket before your insurance kicks in to cover a claim.
If your car is financed, insurance is usually required. If it’s paid off, you may need at least comprehensive coverage to protect against theft or damage while parked.
Typically, home insurance covers the structure of your home, personal belongings, liability for injuries, and additional living expenses if you’re displaced.
Replacement cost covers the full cost to repair or replace your home or belongings without depreciation. Actual cash value considers depreciation.
Factors include the home's age, location, construction materials, safety features, claims history, and the coverage limits you choose.
Standard policies usually cover certain perils like fire or windstorms but often exclude floods and earthquakes, which require separate policies.
You should have enough coverage to rebuild your home at current construction costs and replace your belongings.
If you have a mortgage, your lender typically requires it. If you own your home outright, it’s optional but highly recommended.
It depends on the source. Sudden damage from a burst pipe is typically covered, but gradual damage or flooding is not unless you have specific coverage.
Standard policies have limits for high-value items. You may need additional coverage (a rider) for expensive belongings.
Contact your insurer promptly, document damages with photos, and keep receipts for repairs or temporary living expenses.
Yes, by bundling policies, increasing your deductible, installing safety features, and maintaining a good credit score.