quarta-feira, 22 de julho de 2009

When You Should Switch From Full Coverage to Liability

Do I really need to have full coverage car insurance or should I switch to liability only to save money?
When you are choosing car insurance, it can be confusing and even overwhelming. There may be many options and terms that you are unfamiliar with. You can understand car insurance a little better by familiarizing yourself with two major types of coverage. They are Full Coverage and Liability.

Full Coverage Insurance
You may hear a lot of car insurance companies recommending that you get Full Coverage car insurance. This can be very beneficial depending on your situation. Full coverage insurance covers your car if you are in an accident. Whether it was your fault or the other driver’s fault doesn’t matter. Your car will be covered. There are two parts two full coverage car insurance. One is Comprehensive Insurance and the other one is Collision Insurance. Comprehensive Insurance covers you if damage is caused to your vehicle by anything else but another vehicle. Collision Insurance covers you if you are hit by another vehicle whether it was your fault or not.
If you are still paying on your automobile Full Coverage may be the best option for you. Also if you are purchasing a new vehicle, your finance company will require that you get Full Coverage car insurance in order to keep the loan. If you happen to be finished paying for your vehicle and are a safe driver you may want to consider Liability insurance. However, if you have a teenager who will be driving your car or a person older than 75 driving your car, you may want to keep Full Coverage car insurance on your car.
Liability Coverage Insurance
This type of insurance only covers you and any damage you’ve have done to the other vehicle. If you were to get into an accident and it was your fault, Liability Coverage will cover the driver of the other car, any property you may have damaged and the driver. It will not cover the cost of your car. Therefore, if you choose this type of insurance it is best that you feel confident in the safety of your driving and are finished paying for your car.
If you are trying to decide whether switching from Full Coverage car insurance to Liability car insurance is right for you, you should ask yourself a few questions. Am I OK with replacing my car by myself if someone hits me and doesn’t have insurance? If any thing else happens to my car, such as fire, am I able to pay for another car? Am I confident in my driving skills? These questions will help you confidently choose the right coverage for you.

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