Securing a low rate on your auto insurance is important. However, so is making sure that you have the coverage you need to ensure you are truly protected n case your vehicle is damaged or you are injured as the result of either an accident, natural disaster, or auto-related crime. That is precisely why you should strongly consider adding the following three coverage options to your next auto insurance policy.
Uninsured/Underinsured Motorist Coverage
Assuming that all drivers will follow the law and carry a valid insurance policy is an assumption that could leave you looking at some serious out-of-pocket expenses in the event your vehicle is struck by someone without a valid or adequate auto insurance policy. Adding uninsured/underinsured motorist coverage to your policy will ensure that you are protected financially even if other drivers fail to meet their insurance obligations under the law. This type of insurance typically also provides a certain level of protection in the event of a hit and run since you are not able to verify whether or not the other driver has an active insurance policy.
Collision coverage is often required by most auto loan lenders in order to protect their investment. Unfortunately, many drivers assume that if they are not required to carry this type of insurance, they can safely decline this coverage. However, the fact is that unless you can easily afford to cover the cost of repairing or replacing your vehicle in the event of an accident, you can benefit from adding collision coverage to your policy. This is because a policy that only offers liability coverage will not cover the cost of repairing your vehicle. Instead, this type of policy will only cover the other driver's vehicle. If you need coverage to help pay for the damage to your own vehicle, you will need to add collision coverage to your policy.
There are many scenarios outside of your control that can result in damage to your vehicle. For instance, your vehicle could be the target of theft or vandalism. Your vehicle could also be damaged by a tree or other debris during a severe weather storm. You could also encounter vehicle damage as the result of far less dramatic scenarios such as a pebble hitting your windshield or a hail storm leaving dents on the roof of your car. While your ability to prevent these situations may be quite limited, choosing to include comprehensive coverage in your auto insurance policy will ensure that you are able to quickly react to these situations without the need to cover huge out-of-pocket expenses.
Look into auto insurance by visiting the website of a carrier like http://www.denverautoinsurancecompany.com.