Car Insurance Articles
First off, when it comes to auto insurance coverage, check your policy. It’ll need comprehensive coverage, which protects against non-crash damage to your car, like theft. Unfortunately, you’re out of luck if your car is stolen and you don’t have comprehensive coverage.
More than 3 out of every 4 drivers take the chance to buy comprehensive coverage, according to the Insurance Information Institute (III). That means more than 75 percent of the nation’s drivers insure their cars against theft, in addition to the required liability coverage. Comprehensive coverage can also apply to damage to a vehicle after it’s recovered.
Protecting your car against theft is even more important if it’s a newer model. According to Michigan officials studying data on the state’s stolen cars last year, a car that is popular with thieves when new will still be a sweet target for theft for around 6 years because
This past August, the online magazine TechCrunch had a salacious headline for tech geeks and robotics fans: Google plans to sell 2,500 driverless cars to Uber, a company similar to a taxi-service that connects cars with passengers.
The story seemed like tech and auto industry gold, as Google has been instrumental in developing self-driven cars and has a significant financial stake in Uber.
While many bloggers and reporters picked up on the story as a watershed mark in the development of driverless cars, there was a small hitch: The story was dated ten years in the future.
“People are dense, I guess,” TechCrunch author Ryan Lawler explained to the Poynter journalism training center about the mix-up.
But the possibility of driverless cars hitting the market sooner rather than later got us at Online Auto Insurance thinking, “Who will insure those cars once they hit the road?”
In this series, we spoke about how GAP insurance can help cover total losses, how having coverage for aftermarket parts and car modifications can help cover possible holes in your policy, and how having coverage for a rental car and towing costs can make your life easier while you and your insurer sort out a claim. In this part of the series, we’ll talk about whether your “full coverage” policy’s coverage levels will fully pay for other people’s damages that you’re responsible for.
We’ve discussed that the term full coverage generally describes a policy that meets a state’s legal requirements and also insures the vehicle against physical damage. But what if a state’s required coverage levels aren’t enough? In many states, a policy that meets the legal minimum requirements
won’t provide enough to cover serious accident situations.
In the first two parts of this series talked about instances where your “full coverage” auto insurance policy might not cover your own car’s damages. Part one covered the possibility of having your vehicle totaled and not getting enough insurance claim money to pay off the loan balance. In part two we talked about car customizations and insuring them if they are stolen, damaged, or destroyed.
In this article we’ll talk about a couple of additional expenses that you may run into if your vehicle is damaged beyond repair or stolen and never found, like the cost of a rental car to get you around while you and your insurer sort out the mess.
Rental Reimbursement Coverage
The last thing you want to think about when your car’s declared a total loss is finding a way to go on with everyday tasks like getting to and from work, getting the kids to school, or going grocery shopping. The good news is that there’s rental reimbursement coverage available that will help make sure you have a way of continuing with everyday life while you deal with your total-loss claim.