How Auto Insurance Works - No Fault States

This video breaks down how auto insurance works. We’ll explain every part of your coverage in a simple, easy to understand way.

The way auto insurance works is based on the state you live in. There are two options: AT FAULTS STATES & NO FAULT STATES.

Here’s a video that breaks that down: https://www.youtube.com/watch?v=K5uZ8D0ZIrg

This video explains how NO FAULT STATES work.

Here’s the details:
Your auto insurance policy should cover:

PIP (Personal Injury Protection) 2:20
Coverage for you, your family, and your passengers’ injuries. Can cover medical expenses, lost wages, pain & suffering, etc. no matter who’s fault the accident is

COLLISION (3:56)
Coverage for damage to your vehicle. Usually has a deductible.

OTHER THAN COLLISION (5:47)
This covers damage to your car that is not the result of a traditional car accident. Tree limbs falling, garage fires, and impact with an animal fit this category. Usually has a deductible.

BODILY INJURY LIABILITY (7:23)
Liability Coverage is still an important part of your auto policy. Why? Well, you travel around in a huge metal bullet just inches from strangers. Make contact and you’re their worst enemy. Hurting other people’s bodies is much more likely in your car than your house and that’s why auto liability coverage is required by law. In no fault states it is less important, but it’s still necessary. In the worst-case scenarios, the at fault driver can still be sued because of an accident.

PROPERTY DAMAGE LIABILITY (9:18)
Again, in no fault states this coverage is less important but there are scenarios where your policy would have to pay for damage to someone else’s property (car, home, etc)

UN/UNDERINSURED MOTORIST COVERAGE (12:30)
Some people break the law. Others just carry to lowest possible liability limits required by law. So when those people run into you, it’s a bummer. Fortunately, your Un/Underinsured motorist coverage is there to protect you.

RENTAL REIMBURSEMENT(16:03)
Coverage for a rental while your car is being fixed. This only applies if the damage to your car is from a covered accident.

ROADSIDE ASSISTANCE (16:45)
More and more companies are offering this service as a part of your auto insurance policy

There you have it!

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Видео How Auto Insurance Works - No Fault States канала Shine Insurance