In most cases, the drivers that are always on public road are more exposed to danger, being involved in traffic accidents caused by themselves or other drivers.
It may be that only in an unguarded moment while driving, a driver could produce high value damage and he has to pay. The lack of necessary funds could, however, lead to disputes, sometimes long and expensive, or could lead to other legal sanctions.
Car insurance is a protection method by which prejudiced third parties are compensated after a car accident, either regarding car damage, injuries and death or property damage.
Car insurance has a definite purpose: the injured to necessarily receive compensation for the incurred damages.
A car owner usually pays a monthly fee for an insurance, also called insurance premium. The insurance premium price paid by a car owner depends on several factors like: the driver’s age and gender, their driving history, the type of vehicle and the state you live in. Based on these factors many insurance companies offer discounts.
As a proof for your car insurance you get from the insurance company an insurance card which must be kept in the vehicle in case of a traffic collision. Some states recently approved laws so that authorities will accept electronic versions for the insurance proof.
According to the National Association of Insurance Commissioners a car owner, in the United States, pays monthly for car insurance a low average cost of $500 or more and a medium average cost from $1,000 to $4,000 or more. The figures may vary from state to state, may not be the type of coverage you need and may not include all the coverage forms.
Average low cost: $500 or more
Average Medium cost: from $1,000 to $4,000 or more
The factors on which car insurance premiums are based on:
What kind of car you drive;
What kind of risk you have;
What age and gender you have;
What kind of coverage you need;
Where you live.
It is required for car owners to have insurance coverage for bodily injury and property damage in each of the 50 U.S.A. states and also in the District of Columbia, but with all that the minimum amount of insurance coverage depends on the each state’s laws.
The insurance coverage for a minimum bodily injury is around $20,000 in Florida while in Alaska and Maine it is around $1,000,000.
The insurance coverage for property damage is around $5,000 in four states while in other sixteen states is around $25,000.
The insurance coverage may consist in some or all of the following items:
The insured party – medical payments;
The insured vehicle – physical damage;
Third parties – car and people, property damage, bodily injury;
Third party – fire, theft;
A vehicle rent cost if yours is damaged.
Make sure you compare the prices because insurance premiums can vary even 50% for the same car and coverage.
Make sure to get a discounted rate, if you have the right, such as age older than 25, membership to organizations, marital status.
Can the average working Joe afford car insurance ?
If you drive your car regularly you should definitely think about getting auto insurance. If you’re just a normal person, living on a medium wage in the US you most likely won’t afford to pay for damages if you are involved in a traffic accident, so you will surely need a car insurance.
https://www.thepricer.org/wp-content/uploads/2014/11/car-insurance-cost.jpg380615qSignhttp://www.thepricer.org/wp-content/uploads/2016/11/pricerlogonew.pngqSign2014-11-12 10:54:252014-11-22 14:53:45How Much Does Car Insurance Cost ?