CTypes of Auto Insurance overage Explained

A question you might ask yourself is: why must we carry auto insurance? Hopefully one answer you should hear is to protect yourself and your car. For those same reasons the government also requires you to have car insurance.

The state of Florida requires you to carry at least the minimum requirements, which is property damage at ten thousand dollars and personal injury protection at ten thousand dollars. Property damage covers another person's vehicle if you are at fault in an accident. Personal injury protection covers 80 percent of medical expenses and 60 percent of loss wages as well as up to a five thousand dollar death benefit for you and your relatives (that reside with you), minus the deductible if it applies. This coverage would protect you in case there is any damage to other vehicles and gives you medical coverage for yourself.

There are many different types of auto insurance coverage to choose from, depending on what you want covered and what you can afford. Where should you get started?

First you should ask yourself if you have enough coverage in case of an incident occurring. Besides the minimum requirement coverage previously mentioned, there is another type of coverage that is very important, bodily injury.

Bodily injury coverage is not required by the state of Florida until you get into an auto accident. This would cover you if you were at fault in an accident and the person in the other vehicle suffered injuries exceeding their personal injury coverage. If you did not have this coverage the other party has the right to sue and the state may place a financial responsibility on your motor vehicle report, which you would have to carry for 3 years. That financial responsibility is called an SR22.

Uninsured motorist is another coverage you may want to consider. Uninsured motorist covers you if the other party was at fault and you were injured (exceeding your personal injury coverage) and they did not have bodily injury coverage. You may use this coverage to cover the difference of your injuries.

Where does you car fit for injury theft and collision? What about your dream car? Take a look at this run down based on 2000-2002 HLDI data:

There are two more very important types of coverage that you might want to explore they are: comprehensive and collision.

Comprehensive coverage would cover your vehicle in the event of fire, theft, vandalism, hail storm damage or any natural causes minus the deductible you agreed upon when purchasing your insurance.

Collision coverage would cover physical damage to your vehicle, if you were at fault in the accident, minus the deductible. The insurance company would pay the actual cash value of your vehicle. If your vehicle is financed comprehensive and collision coverage are possibly are required by your lending institution.

Extra medical payment coverage can also be provided if you are interested and the list goes on. All types of coverage are important but the reality of it is, what we can afford? Keep in mind your life and your family is very important so having insurance should be one of your main priorities.

With the web easily accessible you have a vast amount of knowledge at your fingertips to help you choose the best coverage for you and your lifestyle. Life is too shortFeature Articles, get good advice and get the right insurance coverage for you and your family.

Foreclosures jump 30% in 3rd Quarter

"Foreclosure actions were reported on more than 446,000 properties the three months ended Sept. 30, up 30 percent from the second quarter and double last year’s third quarter. That brings the overall foreclosure rate to one in every 196 U.S. households....." Foreclosures Increase

visit: kentucky-insurance.com

Progressive Unveils Industry's First Web 2.0 Site

" Quick … which major auto insurer is the first to recognize that how people use the Web has changed and has responded by introducing the industry’s first Web 2.0 site? Why, Progressive, of course. The Progressive Group of Insurance Companies, the first major insurer to introduce a Web site in 1995, today unveils the industry’s first Web 2.0 site.
“This is about watching and reacting to trends to keep our site relevant to all users. It moves progressive.com content from static to interactive,” said Toby Alfred, general manager, customer acquisition, Progressive “The redesign lets users get more from their visits; share their experiences; and have their progressive.com experience delivered to them in blogs, RSS readers and personal home pages.”

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The new site features easier navigation, more personalization and customization, easier-to-use video content (and more of it) and more visuals throughout. The site also features content channels – www.progressive.com has joined forces with industry experts to bring exclusive content to the Web. .....Progressive's New Website

Why Renters Need Insurance

Why Renters need insurance:

"ACCORDING to the Insurance Information Institute , renters are 50 percent more likely than homeowners to be victims of burglars.

But while 96 percent of homeowners have homeowner’s insurance, which covers theft, only 43 percent of renters have such insurance, said Jeanne M. Salvatore, a spokeswoman for the institute. “And that’s a shame because a basic renter’s policy not only provides coverage for theft, it also provides coverage for personal property and liability coverage for personal injury to others,” Ms. Salvatore said.

Robert Owens, the president of the Owens Group, an insurance brokerage in Englewood Cliffs, N.J., says many renters who do not have their own insurance believe they are adequately covered by the building’s insurance policy. “The renter’s personal property is not going to be covered by the building’s policy,” Mr. Owens said........ Kentucky Insurance info

Renters can choose between two types of coverage. “Actual cash value” coverage pays to replace damaged items after taking depreciation into account. “Replacement cost” coverage pays to replace the property at today’s cost. The premium for replacement coverage is typically about 10 percent higher......." Renters Insurance