Other Types of Insurance

Apart from bodily injury liability, property damage liability, personal injury liability and uninsured or underinsured motorist insurance, there are other types of insurance you need to know about. For instance, there is a collision and comprehensive car coverage that insurance firms encourage people to purchase. While the collision covers the policyholder’s automobile when it runs into anything and gets damaged, the comprehensive coverage covers the vehicle in the case of theft, explosions, fire, earthquakes, falling objects, floods, riots, civil commotion and other events.

In fact, collision and comprehensive insurance are required on most leases, and if you own an expensive vehicle, then it’s necessary to purchase the coverage. However, if you are using a beater for the daily commute, you may end up paying more for your premium and insurance than the actual value of the car. So make sure to work out the numbers to find out if this is a good option for you.

Before settling for an insurance coverage, you should also consider what additional things other insurances can cover for you, such as dental and medical.