 |
what is insurance? how does
insurance help you? today we're going to go over the best insurance tips and
overall insurances that you need to know, I am working to past decade I’ve
learned some new ways to explain insurance that makes insurance more simple and
easy now keep in mind the expiation is the same so I don't know exactly what
state you're in whether you're in new York versus Michigan versus Florida and
we may guide about through this article but every state of United State have
unique insurance plane and insurance policy but I will guide you how to you
deeply know about insurance in different state and how insurance works. I gave
you some simple, easy examples and some recommendations ways to learn insurance
in USA,do red car insurance cost more, I will give you some more valid and reasonable advice how you can
buy auto insurance to protect yourself you have assets to protect your future income to protect so the biggest way to understand that
what you're attempting to do is you're attempting to ensure that your insurance
agency has more money than you thus income is here and you own your home you
own your assets whatever the case is your level is here you want to have your
insurance company(Allstate quote) just a little bit richer than you are financially so that way
if something does happen and they're going to sue somebody they don't sue you
they sue your insurance company(Allstate auto insurance) instead so I hope you've got a pen and paper
we're going to dive in there are three primary pieces to insurance you've got
insurance for others insurance for you and insurance for your vehicle the first
part insurance for others you've got bodily injury that's the amount that your
insurance will pay for medical if you injure somebody else in an accident so if
your car hits somebody else's if anyone go to the doctor or hospital ,limit you
pick is how much they're going to cover they do it in one of two ways they do a
per person and a per accident so it's said 10 20 or 100 300. I commonly do the
250,500. this means 250000 will cover that individual medical insurance you accidentally injured them up to 250000 insurance for every individual now
assuming that there's more than one individuals in the car let's say there was
three people in the car a driver a passenger and someone in the back and they
all were injured as long as you don't go above 250 000 they're covered under
your insurance policy for that accident keeps in mind you have the 500 000 per
accident total aggregate limit and that means that if these three people even
though they're under that 250 000 if any of them all together collectively are
over 500 000 insurance paid cuts off there as well so this could person could
have a 10000$ this person could have 225000$ and this person could also have 300000$
so the one plus the two is 300000$ plus, three is 600000$ they're all
individually covered except for this person is cut off for that per person by 50000$
but on top of insurance coverage .you've gone over the total limit of 500000$ I
know it's a little bit in depth but that's the easiest way to remember it if we
go back a little bit easier insurances let's just pick a basic insurances like
10 20. that's a common one for Florida if you want state minimums so insurance
10000$ per person 20 000$ per accident if there's three people in the car and
they all had 10000$ worth of medical insurance covered ten you didn't max out
the per person but the per accident you did max out so that twenty thousand
will be 10000$ less and you are not able to buy that or if you don't have the
money they're going to have to sue you some sort of way to recoup that income
or that loss that they sustained and if you don't have the money today they can
take potential future income the second part for insurance for others is
property harm and that is basically exactly the same thing however for
somebody's vehicle on the off chance that you harm their vehicle their
property, that's what that will cover assuming you hit a house assuming that
you hit their carport assuming that you hit their vehicle anything that
property that you harm you will pick a breaking point so a typical one that a
great deal of people start with is what we say 25 50 25. that's 25000 per
person 50 000 per accident that's the medical for others and 25 is that
property damage for their vehicle and that's really the basis of where people
start you can go lower in some states it's not recommended because it really
isn't a benefit to anybody that's insurance for others so that doesn't actually
cover anyone in your car that's just the bodily injury for other people that
you hurt well what about the people in my car well you can pick up a couple
things there's something said medical payments med pays and that's insurances
for anybody in your car it's per person so if you have four people in the car
each person gets that insurances the most common that i see people choose is
ten thousand dollars you can go higher or lower or sometimes completely remove
it but it's ten thousand per person so you've got forty thousand insurance
total as long as each person doesn't max out over that ten thousand if your
chose thirty thousand then it's 30 000 per person there's also uninsured and under insured motors so if you're not at halt in this accident and someone hits you but they don't have enough insurance you can kind of self-insure it where
you're adding a small insurance that covers those cases in that way you don't
have to go after the person or sue them the insurance company(Allstate car insurance) will negotiation
with it they'll pay the insurance claim bill up front up to the insurance that
you pick and then they'll go after the guy on their own normally you're going
to match your bodily injury so if you carry the 100,300 or the 25-50 that's the
same thing that you're going to carry for the uninsured motorist and
under-insured motorist so if they hit you people in your car same thing 25 000
one insured person 50 000 per accident and as per limit of insurance. uninsured
is the case where they have zero insurance they're driving illegally or
something happened and you got injured and they're just not covered so that's
covering your medical people in your car's medical the under insured motors are
covering the difference so let's say for example in Georgia I believe the state
minimum is 25 and 50 or Florida it's 10 and 20. if somebody carried that state
minimum and injured somebody in your car they're going to get the 10 000 for
people in your car but if there's 18 000 worth the medical yours is going to
pick up that additional 8 000 as long as you carry those limits or higher which
the lowest you can do in that state would be 1020 in which case you'd be
covered same scenario if you go higher limits 100 300 if it goes 150 000 worth
of medical and I carry that 100 300 on under insured motors as well I max out at
200 000. So as long as my per person doesn't go over that then I’m okay i do
want to put a little asterisk there because some states like Florida that'll
double your price so you've got to play with it a little bit and see what the
costs are maybe you're doing the higher limits for other people and you lower
that uninsured motors for cost reasons you can pick and choose the levels they
don't have to match exactly versus other states like Michigan it almost doesn't
cost anything because they've got some sort of medical which we won't go over
in this article I’ll actually link another article up here that goes over the
Michigan one but they've got something said personal injury protection which
can be unlimited in that state so they've got tons of medical already having
that on an under insured motorist only benefits them when while they're crashing
into another all state so what might be said about my vehicle uninsured and under insured property harm is indistinguishable you can pick uninsured property
harm so on the off chance that the person hits you has no insurance that'll
cover your car and you can pick under insured property damage where if you have
a nicer car let's say it's a sixty thousand-dollar vehicle and expect that a
many individuals just convey the essentials which will be ten to 20,000
property harm well there's a 40,000 dollar hole between those two you would
want to carry the uninsured or under insured property damage to protect your
asset as well now that insurance i would always recommend going high whatever
the value of your car is just max it out because usually the uninsured and
uninsured property damage isn't more than a couple dollars per month and then
to tie in with the medical staff that's where it cuts off for most people if
you're in a state like Texas Florida Michigan i believe new jersey or
Pennsylvania as well there's a handful of states that have something said pip
it's personal injury protection essentially that's the medical insurances and
most of the states lets you pick limits so it's something that you're going to
have to work in with your agent and find what's the best fit for you but in
most cases the insurance benefit if you have the choice of choosing med pay or
pip then you're going to need to pick the pip as long as the cost isn't that
costly on the grounds that what that does is that works in not simply medical
insurance service since there's nothing more to it med pay does the pip also
includes work loss death benefits things like that there's other little
packages that cover percentages of things that you could lose and so if you can't
work for three weeks because you're in a hospital and you're trying to recover
you get the medical and you get 80 of your wages up to a certain amount so each
state's different i would recommend talking to an agent with that otherwise
they do go more in depth with some of these things if you guys are interested
in that definitely subscribe for article like that so insurance for your car
your vehicle is very important and we talked about the uninsured property
damage even though that technically falls under the insurance for you your
vehicle has two options you can do comprehensive and collision comprehensive is
what we said acts of god it's theft vandalism hail damage a tree falls on your
car if you hit an animal is the one unique time while you're driving in most
case the car is just sitting there, the only time while it's really moving
where it's going to be covered is if you hit an animal that's why they say when
in doubt take baby out it's kind of a joke but it's not because if you're
driving down the road and you see a deer and you have to swerve you miss the
deer and hit the guard rail the deer is comprehensive it's an animal the guard
rail is a collision which we're going to get into next so I’m not saying take
baby out I’m not saying crash at all so try to avoid it if possible but just
know that if you do lose control and that's the situation that's the type of
insurances that you're going to get so bringing it home we've got collision is
covering your vehicle this is your car no matter what if you get in an accident
you hit a car you hit a house whatever the collision piece is you hit your
garage that's that part of it it's what we said full insurance because full insurance
entails comprehensive and collision they're kind of in order so when you've got
your bodily injury your property damage you're uninsured you're under insured
then you've got comprehensive and then collision so when I say full insurance
I’m saying I want all of this stuff just one package and then you have to pick
the limits that you want so as we know the price of insurance is also important
because we must bear the cost of insurance and by the day's end we would rather
not pay for something that costs more than our vehicle it's not exactly worth
the effort to us so you've got to pick and choose which insurances are
important to you this is where deductibles come in you've got your
comprehensive deductible most commonly it's going to match or be close to the
collision deductible which is 500 on most cases personally I do about hundred
dollars on comprehensive 500 on collision some people do on complete certain
individuals do 500 far reaching you can regularly go as high as 2500 I don't as
a rule see anyone go that high generally speaking you will not go over a
thousand because the cost difference doesn't make any sense past that
thousand-dollar deductible it doesn't save you a whole lot more and then your
collision deductible most commonly 500 some people do a thousand if they can
bank that money and save up in case they have to out-of-pocket that the reason
we have deductibles is you're taking on a piece of the insurance it's kind of
like getting a loan from somebody and saying well I need a loan for eight
thousand dollars but it’ll put up two thousand dollars on top of it so that I
can only borrow six thousand I’m good for the money here's two thousand to kind
of do like a commitment to that loan same thing with car insurance you're
saying i commit to paying that 500 or that thousand dollars in the case of an
accident in turn i want you to lower my rate because I’m showing that I’m
committed to not having claims and those are the primary insurances that you
have in car insurance you've got insurance for others insurance for you and
insurance for your vehicle now when you're doing quotes with other companies
there's a couple things that you should know to get the best rate you're going
to want to go through and learn some of the discounts I’m going to put this
article up here so you guys can read that and I’m also going to put another
article here that's going to go over what insurances are most common so we
didn't go over what levels at what income you should carry insurance wise
definitely read either of those article if you guys have questions put them in
the comments below I will gave you answer.
Do red car insurance cost more in USA.
no its same insurance policy
Popular Articles
Simple, Fast 10 Health and Fitness tips and advices
Car insurance in the Netherlands
Basic Health Insurance Fee Stretcher of Netherland
What type of Insurance working in the Netherlands?
Health insurance in the Netherlands
Business Insurance – Frequently Asked Questions (FAQ)
Other insurance Policies to Consider as BOP
Why do you need a Business Owner Insurance Policy?
What we need to Eligibility Requirements for business own insurance policy?
What is Business Owner's Policy insurance?
10 Best Life Insurance Companies: Expert-Rated In 2023
How have cheap car insurance quotes USA in 2022-23
How to choose right Employment Insurance?
Common Life Insurance Quotation mistakes, how we can avoid from life insurance mistakes?
Best life insurance companies Australia, Best life insurance Australia, Life insurance in Australia
Cheapest auto insurance USA, Car Insurance Quotes Online, Free insurance advisor
Which is the most trusted life insurance company? | Which life insurance option is best?
Geico insurance review, who typically has the cheapest insurance?
Comments
Post a Comment