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Because
they don't understand the product, many people think
insurance is a rip-off, and it is -- if you pay too
much or buy coverage you don't need. Richmond California
auto car homeowners insurance is not created equal.
In fact, almost none of it is. There are thousands of
different products out there, from hundreds of insurance
companies.
It is not just one kind of Richmond California auto
car homeowners insurance, but six different coverage's
all rolled into one policy. Here is a quick overview
of the six kinds of coverage in an auto insurance policy.
Please understand that what follows here is not legal
definitions of any policy. Also, it is not a substitute
for reading and understanding your own policy.
1. Bodily Injury Liability -- It pays the medical and
other expenses of those people injured or even killed
in accidents you cause.
2. Property Damage Liability -- It covers the damage
your car causes to property. Usually, that's the other
car or cars involved in the accident, but it also covers
damage you do to any object you hit. Garages, buildings,
lampposts, fences, whatever.
3. Collision -- This is for damage done to your car
when it collides with other vehicles or other objects.
4. Comprehensive -- This covers damage to your car that
results from something other than a collision with another
vehicle. As examples, damages caused by vandals or a
wind-blown tree hitting your car. It also includes coverage
for theft.
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5. Medical Payments -- It pays medical, and even funeral
expenses, for you as well as members of your family
and passengers in your car if it is involved in a collision,
regardless of who caused the accident. It also covers
you as a pedestrian if a vehicle hits you.
6. Uninsured/Underinsured Motorist -- This pays for
injuries to you and damage to your car if you are hit
by a driver who doesn't have insurance -- or by someone
who doesn't have enough insurance to cover your losses.
In most states, more than 10% of motorist don't have
nay insurance.
 In
some states, as many as three in 10 drivers don't have
coverage. Many of those who do have insurance don't
have enough to cover the damages and injuries that would
result in a major collision. The best way to save money
on Richmond California auto car homeowners insurance
is to keep a high deductible on both of these policies.
A low deductible may seem to be worth the comfort of
never having to fork over $500 or $1000 for car repairs
before your insurance kicks in. But it usually isn't.
Consider that raising your deductible by as little as
$250 can buy you a couple hundred thousand dollars more
worth of liability coverage. Which will make you feel
more secure? Paying even $1000 for repairs beats paying
100 times that for someone else's hospital bills!. And
a lot drivers are paying for these types of coverage
when they really shouldn't be. If you're driving an
older car with a very low resale value, the cost of
comprehensive and collision coverages for a couple of
years may be costing you more than the car is worth!
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