Car Insurance Breakdown, Essentials In Personal Finance

Car insurance breakdown essentials in personal finance.

Having car insurance is vital to your personal finance journey.

But make sure you understand the basics.

Liability: What insurance pays the other party if you are liable for damages. This covers other parties medical expenses, auto repairs, etc. Get as much of this as possible!

Comprehensive: This covers your car in the case of a tree falling on your car, hail damage, fire, etc.

Collision: This covers your vehicle if you are in a car accident.

Premium: What you pay every month or every 6 months.

Deductable: The dollar amount you pay before the insurance takes over.

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