Bodily Injury Liability, Collision, Comprehensive, Property Injury Liability. Do you know what these terms mean? If you are currently paying for any type of auto insurance, then these are some terms you should know to maximize the benefits of your plan(s).
Bodily Injury Liability. If you were at fault in an accident and others involved needed to go to the hospital and/or lost wages from missing work, those costs would come out of your pocket if you are not insured with Bodily Injury Liability. Anyone will soon realize how quickly those amounts can add up to. Many states require you to carry Bodily Injury Liability. This type of coverage can also help you in the event the other party takes legal action against you.
Collision Coverage. In the event you need repairs or replacements if your vehicle collides with another vehicle or property, youll need this. The higher the deductible you elect, the lower your premiums will cost you. If youre at fault for something, well of course it would still be an accident, as I doubt youd plan to run into that guard rail, but how much would you be able to afford to pay out of pocket for repairs? Dont forget to check if this...
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