Understanding Car Insurance: The Basics
Understanding Car Insurance
Whether you’re a new driver or have been driving for many years, understanding car insurance can help you avoid trouble, save money and allow you to assert your rights if your vehicle is in an accident that is not your fault.
Auto insurance protects you from suffering financial losses by covering some types of risk such as cracked windshields, getting your car damaged by an uninsured driver and weather related damage, such as hail stones that severely dent your car’s roof and hood.
Here are the basics you should know about your auto insurance policy:
Deductible - this is the amount you must pay out of your own funds for any insurance claim you file. Read your policy carefully - deductibles can be as high as $1000 or as low as $50, depending upon the claim.
Bodily Injury - this cost is for injuries or death that you cause, or is another driver’s fault while you are driving your car.
Property Damage - If you crash your car into a building, utility pole, fence or wall, this coverage will pay for the replacement and/or repair cost.
Medical Payments - if you and/or passengers are in your vehicle when it is involved in an accident, this coverage provides reimbursement for medical expenses, lost wages and other related expenses.
Uninsured Motorist - If your vehicle is in a hit and run, or if the other driver has little or no insurance, you can be reimbursed for accident costs.
More Things To Know About Your Car Insurance
Most of the items listed above are a standard part of your auto insurance policy. Here are some other types of coverage you may have:
Collision - this coverage can reimburse you if your car is damaged from potholes, for example.
Comprehensive - If your car is broken into, burned up in a fire, damaged by a flood or vandalism, you can get reimbursed for repairs to get your car back on the road.
Glass coverage - the great thing about this coverage is that it may not have a deductible, which means if your windshield is cracked or broken, all you have to do is make an appointment to get the glass replaced. You provide your insurance information to the glass shop and they take care of the rest.
Understanding What Is Not Covered In Your Car Insurance Policy
There are some things that are not automatically covered by your auto insurance, so make sure if any of these situations apply to you, that you work with your insurance agent to purchase the right kind of coverage.
Using your vehicle for business - if you use your vehicle for food delivery, ride sharing, or any delivery service, your personal insurance policy will not cover damage or replacement if you have an accident while doing these activities.
South Carolina Car Insurance Requirements
South Carolina car insurance requirements are outlined in Title 38 - Insurance Chapter 77 Automobile Insurance. Among the things you should know include:
Insurance agents may refuse to write a policy for your vehicle, but - they must notify you in writing with the reason they are rejecting your application. If you still try to get an auto insurance policy, you must disclose if you have previously been rejected.
The South Carolina Department of Insurance sets minimums for liability coverage that are part of your car insurance policy. In general, you must have a minimum of $25,000 for bodily injury per person and $50,000 for every person that has been hurt in one accident.
Your policy has to have a minimum of $25,000 for property damage and uninsured motorist coverage must be equal to the amounts in this article.
If you feel you’ve been unfairly denied car insurance or are having issues with getting reimbursements due to an auto accident, call the South Carolina car accident attorneys at the Anastopoulo Law firm today at 800-313-2546 to see if you may be entitled to compensation.
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