If you’re looking for car insurance with unlimited coverage, you need to know what your deductible will be. Some policies have a $500 deductible while others have a $3,500 deductible. A comprehensive policy will pay for damages your car does not cause, such as damage from falling objects. You’ll need to consider your financial situation before choosing the right plan for you. Read on to learn more about deductibles and coverage options.
There are several reasons to choose liability coverage. Liability coverage protects you in the event of a third-party claim, and pays for damages to property or injuries to a third-party. A liability policy will also provide a legal defense in case you are accused of driving without insurance, or of having an uninsured vehicle. You can lower your premiums by selecting a lower deductible. Alternatively, if you are not comfortable with the higher deductible, consider dropping liability coverage.
Comprehensive and UM/UIM coverage are optional in some states, but most do not. These coverage plans also protect you against damage that is not the result of a collision, such as severe weather, fire, vandalism, or animal damage. Most states do not require comprehensive insurance coverage, but your lender or leaseholder may require it. Medical payments coverage pays for your medical bills and funeral costs if you are injured in an accident, though it doesn’t typically cover lost wages.