Auto insurance policies and premiums have gone through many changes in the last decade. However, the more things have changed, its still a state law in nearly all states to have auto insurance. Anyone driving a commercial or personal vehicle along with a motorcycle should include the minimal coverage. Auto insurance protects you from liability in the event of an accident. You’ll be able to cover the cost of an injured motorist or cover damage to your property under your insurance coverage. The terms of your policy will determine how much coverage you have in the event that you’ve been involved in an accident.
Liability insurance is also known as basic insurance coverage with two components. Basic insurance includes damage coverage and bodily injuries. However, this only protects the other party involved in an accident. The motorist must include no-fault coverage on their policy to protect their personal injuries or vehicle damage. You may be subjected to higher premiums by adding extensions to your policy. You’re invited to contact an auto insurance company Bridgeport WV professional for more details on your specific insurance needs.
Comprehensive insurance is known as full-coverage insurance to many motorists. You’re fully covered in an accident with comprehensive insurance. You’ll have everything included in liability insurance. Customers have insurance from theft and incidences not caused by an accident. You have an opportunity to choose from specific forms of comprehensive coverage. Many people agree that comprehensive insurance coverage premiums are currently very affordable. You’re covered from a fire, roadside, flooding, vandalism, and more. More importantly, your lost wages and disability insurance can be covered for you and/or the other injured motorist under the collision insurance section of your auto policy.
What Causes High Insurance Premiums
There are many factors that contribute to higher insurance premiums for many individuals. Young drivers are always assessed higher rates because of their risk as an inexperienced driver. Younger drivers can save a little money by being added to a family auto insurance plan but rates are still elevated at a higher premium than older or more experienced drivers. Frequent tickets for speeding or other road violations that increases your driving score will increase your cost of coverage. There are set rules that most insurance policy underwriters use to determine your monthly premiums including your credit score.
More importantly, at least one DUI offense can cause your insurance premiums to soar. Never drink and drive to avoid skyrocketing insurance premiums. Surprisingly, men pay higher premiums than women. This isn’t to discrimate on men by charging them higher premiums. Non-accident factors are also included in the decision to cover a particular driver with auto insurance. In fact, driving limited distances or having particular devices installed in your vehicle can lower your insurance premiums. You should always read your policy to become familiar with the specific terms and conditions set forth by your policy.