Orlando, Fla.—At this point we find it totally unnecessary to provide an explanation about why it is so important to keep your vehicle protected with an adequate insurance coverage that meets your lifestyle and needs— because we all already know that in most states it is required by law at the time of purchasing your new vehicle. Also, your own safety and your love ones’ is priceless. In the event of an accident, you want the peace of mind to know that your expenses, as well as damages to your vehicle and/or third parties will be covered. The last thing you need the middle of a crisis is to be worried about how to financially respond for any damages caused.
From the Valentine’s month point of view, keeping your auto well insured could be considered an act of love towards yourself, and those that you love.
Meanwhile, if you are planning to finance your vehicle, your lender will want you to guarantee a loss mitigation, and that’s where auto insurance will come to play.
What kind of auto insurance can you buy?
1) Theft
Theft coverage can vary depending on the situation and the type of vehicle insurance you have. In general, a comprehensive insurance will cover it, as well as the costs for repairing damages caused by the theft. Your liability insurance, on the other side, will not cover that part since it is mostly dedicated to property damages and personal injuries as a result of an accident.
2) Liability Insurance
When you have an accident and you are found liable, you will be responsible for the cost of the damages. When that happens, your liability insurance will pay for repairs to the vehicle and medical expenses of the other vehicle’s driver. This type of insurance that is required by law in most states.
3) Comprehensive Insurance
This type of insurance takes care of the replacement, or repair, of your vehicle if it is damaged in an incident not related to collision. It will generally cover damages caused by fire, vandalism, or fallen objects (like a tree or hail). It is possible that if you financed your vehicle, your lender may require this type of coverage before approving your loan, however, it will not be requirement in cases where financing is not involved.
4) Collision
This coverage will pay for repairs when you hit another object be it another vehicle, or electric posts. It does not cover damages caused by hail, or hitting wildlife on the road.
5) PIP —Personal Injury Protection
This type of insurance is mandatory in most states. It will cover the medical expenses of all individuals on board of the vehicle involved in the accident.
6) Medical Expenses
This insurance will cover the driver and all passengers in the car at the time of the accident, even when you are in another vehicle. It also covers the medical expenses if you have an accident as a pedestrian or on a bicycle.
7) GAP
When you buy a new car, particularly during the early years of your new vehicle the amount of the loan may exceed its market value.
A standard policy pays the current market value of your vehicle at the time of a claim. In the event of an accident in which you've badly damaged or totaled your car, gap insurance covers the difference between what a vehicle is currently worth (which your standard insurance will pay) and the amount you actually owe on it.
To protect your auto, talk to our local experienced agents at Orlando Insurance Center and let them know what your needs and priorities are. You will be presented with options from multiple insurance companies, and be able to compare rates as well as coverage to then determine your path to provide the best protection for you and your family. Give us a call today at (407) 680-1214— for an initial consultation and quotes from a myriad of insurance carriers who support us!
Yolegnys Solano, 2-15 Agent
LINCENSED AGENT
SALES AND SUPPORT
"Email me" <yolegnys [at] buscandoseguro [dot] com>