When it comes to car insurance, many people wonder what the basic components of a policy are, and what they mean. A car insurance policy is made up of six basic coverages. Each meets a specific need, and some coverages are legal requirements in some states. The main components are:

• Bodily Injury Liability
• Property Damage Liability
• Personal Injury Protection (PIP)
• Collision
• Comprehensive
• Uninsured/Underinsured motorist coverage

Bodily Injury Liability
This covers damages that you cause to external people (not yourself or passengers) in an auto accident. It will pay for items such as medical bills and lost wages.

Property Damage Liability
This covers damages that occur to property such as the other person’s car, fences, buildings etc. Anything that is over the limit will be out of pocket expenses.

Personal Injury Protection (PIP)
PIP covers and medical expenses or lost wages for you and the passengers in a car. This coverage will also protect you if you are borrowing a car and happen to get into an accident, or even if you are pedestrian and are struck by a vehicle. This coverage is required in 16 states, so you will need to check with your carrier to make sure that you meet the minimum state requirements.

Collision
This covers accident-related damages to your own vehicle. Though it is not required by any state, your bank may require it if you are financing your car. This is to ensure that the bank can receive their money in the event of an accident. Once your car is paid off, you can drop this coverage, if you decide that the value of the vehicle is not high enough to warrant maintaining the coverage.

Comprehension
This covers damage to your car that is not accident related. Theft, vandalism, natural disasters and collisions with animals fall under this coverage. Depending on your state windshield replacement can be covered under comprehension as well.

Uninsured/Underinsured Motorist Coverage
This is required in many states and covers you if you are involved in a hit and run accident or if the driver of a car that strikes you has too little or no insurance to cover your medical expenses. In the case of an underinsured motorist, their insurance will pay for medical expenses up to their limit, and then your insurance company will pay for the rest under your underinsured policy.

While it is only necessary to have the basics for car insurance, agencies do offer many other types of coverages and riders to protect against all types of damage. For more information about the basics and add-ons, contact a Poliseek representative today. For more information or to request a free quote, please visit the Poliseek free insurance quote page.

 
This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.

With summer fast approaching, people are gearing up for another great boating season.  Boats are coming out of storage, fresh coats of paint are being added, and equipment is being replaced. One aspect of boat ownership that should not be neglected is boat owners insurance.  Too many times, people don’t have the right amount of coverage and are left paying more than they would otherwise have to when something happens to their boat.

Your boat is a significant investment and therefore, you’ll want to protect it with the boat owners insurance that is right for you.  Insurance for boats comes in many different options and when purchasing coverage, or renewing your current coverage, you should think about what is important to you.  With the help of your insurance provider, you can make the right decision and find a policy that is affordable and comprehensive.  Some coverages that you may want to look into include the following:

• Total Loss Replacement
• Uninsured Personal Watercraft Coverage
• Actual Cash Value
• Disappearing Deductibles
• On-Water Towing and Labor
• Agreed Value Coverage

Each of these will meet a specific need and should be explored fully with your insurance provider.  For detailed information on each you can visit the boat insurance page (http://www.poliseek.com/boat-owners-insurance) on www.poliseek.com or contact one of their qualified representatives for more information.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein.  No warranty or appropriateness for a specific purpose is expressed or implied.