If you’re a driver who buys only your state’s minimum car insurance coverage and limits, you may be taking on unnecessary risk. For example, the costs related to personal injuries and property damage resulting from a serious accident are very likely to exceed the insurance provided by these minimum required coverage levels. In addition, many other types of auto-related losses can occur that are not covered by these mandatory coverages, including theft, fire, and damage caused by hitting an animal.
To protect yourself from these potential gaps in your auto insurance coverage, the BayCoast Insurance team would like to tell you about five extremely valuable car insurance coverage options.
- #1 Collision: If you hit another vehicle, or an object like a mailbox or fence, with your car, it’s likely to get pretty banged up. Collision is the coverage that typically pays to repair the damages to your car, regardless of who is at fault or when you’re hit by a driver who doesn’t have enough insurance to cover your vehicle’s damages.
- #2 Comprehensive: There are numerous situations that will not be covered if you have bought only the state’s minimum required insurance; for example, a car theft or vandalism to damage caused by fire, weather conditions, or hitting an animal. Comprehensive coverage protects you from these losses as well as damage to your car as a result of vandalism, malicious mischief, and other similar violent acts.
- #3 Medical Payments (MedPay): Medical payments is an optional coverage that many Rhode Islanders wisely choose to add to their car insurance policies. After an accident, you or your passengers may require surgical, medical, or chiropractic treatment, x-rays, prosthetic devices, or more. If your health insurance falls short of covering these significant expenses, medical payments coverage should typically provide additional coverage up to a certain dollar amount.
Massachusetts drivers are already required to carry personal injury protection, which may help to pay for medical expenses like these, but that doesn’t mean Bay State drivers shouldn’t consider medical payments, as well. It could be a smart choice if you want to limit your out-of-pocket expenses should you be injured in an accident. - #4 Bodily Injury to Others: By purchasing this optional coverage, you can extend the liability protection on your car insurance policy to protect you and your passengers should an accident occur outside of your home state, anywhere in the U.S. and Canada. In addition, this coverage could help you pay for injuries suffered by your passengers when you’re at fault for a crash.
- #5 Higher Liability Limits: State-mandated insurance coverage minimums are typically not nearly enough to protect you and your assets from a large auto claim. At BayCoast Insurance, we want our clients to have sufficient coverage in case of an at-fault accident. For this reason, we often recommend they select liability coverage limits for both bodily injury and property damage that are well above the state’s requirements.
We can help you determine your optimal liability limits by looking at the value of the assets you need to protect, such as your house, savings, investments, etc. If we find that the highest available auto insurance coverage limits are still not enough to safeguard your specific situation, then we may suggest you consider an umbrella insurance policy.
As you can see, there’s a lot to consider when buying auto insurance. Believe it or not, though, this information doesn’t give you the complete picture of all that is available to you. There are still many more coverages and endorsements to consider, several of which might save you quite a bit of money if you’re ever in an accident.
We are here to help you understand and select the car insurance options that are best for you.
BayCoast Insurance has provided quality car insurance options to drivers across Massachusetts and Rhode Island for over 100 years. Our team is ready to assist you, whether it’s with a brand-new auto policy or if you would like us to review a current policy and make sure it has the level of protection you need.
We are happy to share our in-depth knowledge about your state’s insurance requirements, minimum and optimal limits, additional coverage options, and potential discounts. Based on your individual or family’s needs and budget, we will give you a straightforward assessment of what a comprehensive auto insurance policy might look like for you.
In addition to the coverages we’ve discussed above, we may recommend the following popular options and endorsements.
- Substitute Transportation
- Towing and Labor
- Roadside Assistance
- Accident Forgiveness
- Bundling Auto & Home with the Same Insurance Carrier
- Disappearing Deductible
- Loan/Lease Gap Insurance
When you consult with our knowledgeable professionals before buying or renewing a car insurance policy, we’ll be able to help you get the right auto insurance coverage, with optimal limits, that best fits your financial needs and, most importantly, is designed to protect you in case of an accident.
Please contact us to hear about the top-quality car insurance coverages and competitive rates that we have access to through our wide variety of insurance partners. Put our experience to work for you today.