In all truth—It is virtually impossible to purchase “full coverage auto insurance” in the insurance marketplace. This comment is not intended to cast negative comments upon any automobile insurance company. In fact, many auto insurance companies do a fine job of serving their policyholders. The point being made is, if an insurance person tells you they are selling you full coverage auto insurance they are not doing a proper job of explaining a contract you are about to enter.
In purchasing automobile insurance you have two basic decisions to make: 1) What can I afford? And 2) What can I afford to risk? Your premium paid is consideration of a future promise of coverage from the insurer which is the essence of the contract. Insurance companies are willing to sell and service anything you can afford to buy. What follows is a short list of coverage’s to consider that should be explained in some detail by your automobile insurer.
- Liability coverage, required by the State of Nevada at minimum, 15/30/10 limits.
- Collision coverage, offers coverage to your vehicle in the event of an automobile accident and collision with other named objects. Usually carries a deductible.
- Comprehensive coverage, offers coverage for named hazards not caused by collision with another object or automobile.
- Medical Payments coverage, essentially health insurance for auto accidents. Must be offered by the insurer to the insured.
- Uninsured/Underinsured coverage, per Statute in the State of Nevada for bodily injury only. This coverage will come into effect if injured in an automobile accident by the liability of either an uninsured or underinsured motorist as defined by the contract. Must be offered by the insurer to the insured.
- Rental Care coverage, normally pays an agreed amount for a determined length of time under the policy.
- Emergency Road Service coverage, towing to nearest repair facility other defined losses under the policy.
It is a very important decision to make when selecting proper automobile insurance coverage. We have listed just a few things which you should consider in this process. It is a process which impacts your physical and financial well being. Take some time to read and familiarize yourself with your automobile insurance coverage contract. It may save you some sleepless nights down the road. We wish you safe motoring.