Perhaps the word insurance should be added to the idiom that nothing is certain but death and taxes. Automobile insurance coverage is mandatory in all but a few states. In the exempted states, automobile drivers must pay an uninsured motorist fee or be responsible for property damage and bodily injury for auto accidents for which they are at fault. The cost of annual automobile insurance pales in comparison to the potential costs of damages, therefore, the smart motorist purchases auto insurance through a reputable Auto Insurance Company.
All forms of insurance are a type of risk management where the individual being insured pays a monthly fee called a premium to the company providing the insurance that incurs the risk. In spite of state laws that mandate auto insurance, at least one in ten motorists is uninsured. If an uninsured motorist is involved in accident resulting in damage or injury, there is not an insurance policy to cover the costs, unless the insured motorist carries optional Uninsured Motorist insurance.
States that require auto insurance have their own definition of what exactly is required and a minimum dollar amount of insurance that must be obtained. When obtaining an insurance quote from an insurance provider such as schlatherinsurance.com, the liabilities limits are typically referenced in an abbreviated form, such as 10/20/5. All numbers are expressed in thousands, so in this example, 10 equals $10,000 and is the limit for bodily injury; 20 is the limit amount for all injuries; and 5 is the limit for property damages. In addition, these are the amounts paid per covered persons per incident.
The typical resources used when shopping for insurance policies are to visit an agent in person or to browse insurance providers online. Insurance agents may represent one or more insurance providers, depending how they are setup. Those working with multiple insurance providers can compare policies to find the best fit for you and your needs. Browsing online also offers shoppers the same benefit – but be prepared to be bombarded with phone calls.
When speaking to an Auto Insurance Company representative having the following information handy streamlines the process. The agent will need the make, model, and year of the automobiles and their vehicle identification number or VIN numbers, zip code where the vehicles are kept, if they anti-theft or safety devices installed, and driver license numbers for all individuals to be insured. You can also like this Facebook page for regular updates.
