The need for Auto Insurance is greater than ever and will continue to grow globally. For the most part it is the only “most have” insurance policy in the United States, until the recently passed Affordable Care Act Law which makes it mandatory to have health insurance, for people who owned a motor vehicle. It is a requirement to have an Automobile insurance in all 50 states in the United States and many other countries around the world. The minimum requirements for liability insurance varies from state to state . However, all states have a requirement to have at least a liability policy.
Liability insurance protects the vehicle owner from financial loss in the event of an “at fault” accident. The policy pays the affected driver or the parties involved in the accident caused by the insured driver. Liability policies mostly cover both property and personal injuries.
For policy holders with only liability insurance, it is very beneficial to have “uninsured or under-insured' motorist coverage so that in the event of an accident, and the driver at fault does not have insurance coverage or the policy limit is less than the damages done to your vehicle, your policy will step in pay for the damages including personal injury claims as well.
Moreover, the recommended coverage for most people is comprehensive and collision which is often referred to as “full coverage”. It covers the policy owner's vehicle in addition to liability to the other parties in the event of an accident.
In conclusion, it is very important to make sure your automobile policy have certain important features or riders such as medical payments, roadside assistance, uninsured and under-insured motorist coverage. These riders don't cost much, but are still left out off many Auto policies. Talk to your agent and make sure yours is not one of them.