In general, there are two types of auto insurance coverage: property damage and personal injury. Most policies provide liability coverage, which reimburses victims when you are at fault for a crash. Depending on your injury policy, you may also have uninsured/underinsured motorist coverage and/or Med Pay options, which protect you in the event that the motorist responsible for the crash cannot cover your expenses. Additionally, you may also have collision or comprehensive coverage, which allows you to recover the cost of repairs to your vehicle regardless of fault. In this video, attorney Phil Chupick explains the many different aspects of car insurance that may apply to your situation.
What are the types of auto insurance that are available to you, the consumer? Well, they go into two categories. One is property damage and the other is injury damage. Property damage consists of a collision or a comprehensive. Usually those provide you coverage to your vehicle when it’s damaged, regardless of who’s at fault. Collision will cover your damage to your vehicle if you hit a pole. Or someone hits you. Or you hit them. Comprehensive will cover your vehicle damage for something non-collision, like fire or theft or vandalism. Personal injury part of auto insurance consists of liability, underinsured/uninsured and then Med Pay. Liability is the type of insurance that is required, that makes you liable if you injure or crash into someone else. The limits range from 25 on up and there’s usually a minimum amount that you’re required to purchase. After that, everything is usually optional. Underinsured motorist coverage insurance protects you, using your own policy, when someone who hits you doesn’t have enough insurance. And uninsured insurance, again, is something you purchase on your policy. That would protect you and your vehicle if someone hits you and they don’t have insurance at all. Med Pay is like a health insurance on your automobile policy. Again, it’s in addition to the other coverages. And usually is very affordable and has limits that will cover your medical bills, your PT and massage bills, and so forth after you’ve been in an accident. And those are the basic types of coverage that you can purchase on an insurance policy.