Indiana Car Insurance
The details on Indiana car insurance that she always wanted to know, but didn't know who to ask
All of us, were frequently on the road, have come across a few points here and there pertaining to Indiana car insurance regulations that we may not be too familiar with or quite know how and where to find out the truth about. This article should help to clear up some questions and clarify some misunderstandings as it pertains to the law and your insurance. We all want to be in compliance with the legal requirements and responsibilities that we share as drivers, but sometimes some of the jargon used by insurance companies is not quite clear to us - who are more accustomed to simple and plain English.
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After you have read the explanations and details as laid out below, you have a fair understanding of all of the terms that are commonly used by insurance companies and legislators. While the terms that we explain are not to be considered the full and total extent of insurance terminology, they will help you to gain an understanding of many of the details that are quite often included in Indiana car insurance policies.
The first term is bodily injury liability - this term refers to the amount of coverage that a person has established for the payment to other individuals who are injured in accident caused by you as the driver. Bodily injury liability limits vary from state to state (with the minimum mandatory amount in our state paying $25,000 in coverage for a single individual being injured, and $50,000 in coverage for two or more individuals being injured in an accident where you are found at fault), but in any case, the coverage amount is set aside specifically to cover expenses related to injuries or death of an accident victim.
The next term is property damage liability - this term refers to the coverage amount that is establish to covering the replacement or repair of the personal property of an accident victim. If you are driving along, and become the cause of an accident, and someone else's property is damaged in the accident, then your insurance company will have to fork over cash to cover the repair or replacement of that property. The minimum amount of property damage liability that you can purchase our state, according to Indiana car insurance laws, is $10,000 per incident. It should be noted, that in the damage over and above the $10,000 limit will be the responsibility of the driver causing that damage; so in some cases, it may be wise to add an even higher limit on your insurance policy, so that you are fully covered in the event damage to someone else's property does occur at your hand.
The next term that we will cover is collision - collision insurance will pay for repairs or replacement done on your vehicle after the vehicle has been involved in a collision or other type of damaging accident. Collision insurance is, of course, subject to a predetermined deductible that must be paid out prior to the insurance company covering any damages to the vehicle. For instance, if you have a $500 deductible, and you are in an accident that causes $750 worth of damage; you will be responsible for the first $500, and the insurance company will send you a check for $250 - the portion that is left over after deducting the deductible charges.
The next term that we will talk about here is comprehensive - comprehensive coverage is set up to handle a variety of types of damage to your vehicle, that don't include a collision. This means that if your vehicle is broken into, or stolen or just caught up in the whirlwind of a tornado, and slammed to the ground in a neighboring town, then you can be covered by a comprehensive policy. Comprehensive pays for a wide range of incidents that are simply out of the norm for the average collision coverage this form of Indiana car insurance will help to protect individuals who are victimized off of the road. Although this form of coverage does carry a predetermined deductible, just as collision; it is a wise move to include comprehensive into any plan of full coverage insurance. Having comprehensive along with collision insurance, will provide a very thorough amount of coverage from different angles.
The last and final terms for Indiana car insurance that we will discuss here is a combination of options that may be added to a well-rounded insurance policy. One of these terms relates to towing - by adding towing to your new or current insurance policy you will enable yourself to not have to worry about what happens to your vehicle in the event of an accident. When an accident occurs, you will simply need to reach out to your insurance company, or the towing service that they direct you to, and your car will be in very good hands. Another term and type of coverage that should be attached to any good insurance policy is rental car coverage; with rental car coverage, if you are involved in an accident, but must have transportation to be able to get back and forth to work, school or simply run errands; you will be sufficiently covered. Rental car coverage helps to avoid unnecessary breaks in your daily routine; you'll still be able to get around, because your insurance company will cover the cost of a reasonable rental car during the time that your car takes to be repaired by an approved automotive repair facility.
It is our hope that these terms will help you to gain a better understanding for the next time you are reading an insurance policy or examining the pros and cons of one company's particular offerings over another. Take the lessons learned, and you discover that you will be a much more educated consumer.
