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What is Car Insurance?
Vehicles are an essential part of life for many people, yet operating them comes with a certain level of risk. Thousands of auto accidents occur every day, and some of these result in property damage, serious injury or death. Car insurance doesn't prevent accidents from occurring, but it can help Massachusetts drivers recover from the financial consequences of an accident.
Car insurance isn’t a substitute for wearing a seatbelt, obeying all traffic laws and driving safely. Carrying a policy is, however, an essential part of being a responsible driver.
What Coverages Are Included in Auto Policies?
Auto policies can include an array of coverages, and the exact mixture of protections frequently varies from one policy to the next.
In Massachusetts, most policies have the following coverages because there are minimum requirements for them:
● Personal Injury Coverage, which may over injuries sustained by a driver and/or passengers
● Bodily Injury Coverage, which may cover injuries sustained by people outside the driver’s vehicle
● Property Damage Coverage, which may cover damage caused to other people’s vehicles and property
● Uninsured Motorist Coverage, which may cover accidents caused by drivers who don’t have insurance
A few of the additional coverages that drivers frequently add to their policies include:
● Collision and Comprehensive Coverage, which might cover damage sustained by a driver’s vehicle
● Rental Car Reimbursement Coverage, which might cover rental car costs if the driver’s vehicle is wrecked
● Pet Coverage, which might cover injuries sustained by pets that are in a vehicle
In addition to these coverages, insurance companies frequently offer roadside assistance as an optional protection.
Who in Massachusetts Needs Auto Insurance?
Most people who own a vehicle in Massachusetts need auto insurance, for state law requires that drivers who go on public roads carry at least the state’s minimum-required coverages. Many people choose to get additional coverages and higher limits, for the state’s minimum requirements offer only basic protection.
Why Do Car Loans Require Drivers to Get Gap Coverage?
Drivers who finance their vehicles are frequently required by the terms of their agreement to get gap coverage. The requirement is used to make sure that drivers can afford to pay the full amount due even if their vehicle is totaled.
When a vehicle is financed, the car usually depreciates faster than the loan’s balance is paid off. Thus, a “gap” grows between the loan balance and the vehicle’s value. Gap coverage normally covers this difference if the car is damaged in a covered incident, so driver’s don’t have to worry about coming up with the amount themselves.
Leases sometimes also require drivers to purchase gap coverage.
How Can Drivers Save on Auto Insurance?
Insurance companies offer many auto premium discounts that drivers might qualify for. Drivers may be able to get lower premiums for:
● Having a clean driving record
● Being a good student
● Completing an approved safe-driver course
● Purchasing additional policies from the same insurer
● Many other reasons
Different insurers frequently offer different lists of potential discounts, so drivers should compare several companies’ policies to see what company will offer them the best combination of premium reductions.
How Can Drivers in Massachusetts Get Car Insurance?
For help comparing car insurance quotes, contact the independent insurance at John P. Russell Insurance. Our agents are highly versed in the nuances of auto policies, and they can request quotes from several insurers in Massachusetts. They’ll help you compare different policies, looking at the coverages, premiums and discounts, so you know what the best one is.
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