Have You Explored the Other Types of Auto Insurance?

January 23, 2013
By Tatlow, Gump, Faiella & Wheelan LLC on January 23, 2013 3:10 PM |

Now might be a good time to check out your knowledge of "other" types of auto insurance coverage to make sure you are adequately insured.

  • Medical payment insurance pays for your medical costs up to the limit stated in the policy. It covers you or your family whether you are a rider or a pedestrian struck by a motor vehicle. Some policies also cover you when you are in another person's car. Passengers in your car also are covered. There are other instances in which the medical payments insurance coverage may kick in.
  • Comprehensive insurance pays for damages to your car from risks such as fire, theft, explosion, windstorm, hail, vandalism, glass breakage, birds and animals. Specific risks covered will be listed in your policy. This may include a deductible.
  • Collision insurance covers damage caused by the collision of your car. This coverage kicks in regardless of who is responsible for the collision.
  • Uninsured motorist insurance covers your bodily injuries as well as those of your passengers if you are struck by a car whose driver is at fault and does not have enough insurance to cover the expenses of the injuries. This also will kick in if you are injured by a hit and run driver.
If you have a late model or expensive car, you should consider purchasing comprehensive and collision insurance to protect you financially in case of damage to your car or theft. Also, be aware that most companies will not sell collision insurance without comprehensive. The lender may require comprehensive and collision insurance to protect its interest in your car (if your car is financed). You do however have the option of choosing who will insurance your car.

Optional coverage may also be offered, such as towing, rental and labor benefits. Missouri Department of Insurance has many tips on how to shop for your auto insurance.