Auto insurance is an agreement between you and an insurance
company. To get an insurance policy, a motorist must pay what is called a
yearly "premium" to the insurance company. In exchange, the insurance
company agrees to pay for specific types of financial losses when the insured
motorist is involved in an auto accident. These financial losses include but
are not limited to: property damage, medical coverage, and legal fees.
Driving without auto insurance is against the law. However,
if you get caught driving without auto insurance, your license may be suspended,
you could face severe fines, or – if you were to get into an accident while
uninsured, you could potentially go to jail. Car insurance is necessary, and
although we may get frustrated with having to pay for it, the fact is we need
it. Car insurance is something that cannot be avoided.
The minimum auto insurance coverage varies from state to
state. The bare minimum coverage is typically referred to as "liability
insurance". This insurance covers the minimums for bodily injury and
property damage.
There are three numbers that are used to describe an
insurance policy’s limits. The first number refers to bodily injury limits. The
second number refers to total medical liability coverage. The last number
refers to property damage limits. For example, a 20/40/20 means the insurance
company is responsible for: Twenty thousand for personal medical liability per individual,
forty thousand maximum medical liability coverage per individual, and twenty
thousand maximum property damage liability.
Bodily Injury Liability covers injuries that happen to you
or any other individual who is involved in an accident when it has been
determined that you are the at-fault driver. Usually, this also covers you
while driving another person's car or when someone else is driving your car.
Property Damage Liability covers the cost of damage you
cause to someone else's property in an accident when you are the at-fault
driver. This coverage also covers someone else driving your car (with your
permission). Property damage liability refers to damage caused directly to
someone else's car and also covers damage to city property – such as light
posts, telephone poles, fences, etc, and other structures such as houses,
apartment buildings, etc.
Although liability limits vary from state to state, the
minimum amounts are universally low. It is highly recommended a motorist
purchase liability limits that are much higher than the state minimum in case
Liberty Mutual and Holly Robinson Peete Team Up to Remind Families to Be Fire Smart this Holiday Season with Tips on Fire Safety
Liberty Mutual Provides Online Resource and Fire Safety Tips for Busy Moms at www.BeFireSmart.com (PRWeb Dec 2, 2008)
Read the full story at http://www.prweb.com/releases/fire_safety/Liberty_Mutual/prweb1640864.htm
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Top 10 Cognitive Fitness Events of 2008 to be Unveiled at SharpBrains' Webinar
Alvaro Fernandez, CEO of market research firm SharpBrains, will lead a webinar discussing the Top 10 Cognitive Fitness Events of 2008 with leading healthcare and insurance providers. (PRWeb Dec 2, 2008)
Read the full story at http://www.prweb.com/releases/SharpBrains/Top_10/prweb1681554.htm
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Linde North America License Exari to Automate Sales Contracts
Exari Group Inc. www.exari.com, a leading automated document assembly and contract management software company announced today that Linde, Inc., a member of The Linde Group, has licensed Exari to automate North American sales contracts for three of its business units. The Linde Group is one of the world’s leading gases and engineering companies. (PRWeb Dec 2, 2008)
Read the full story at http://www.prweb.com/releases/2008/12/prweb1689034.htm
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Federal Reserve 401(k) Dodges Stock Market Meltdown With Stable-Value Products, Author Finds
Barry J. Dyke, author of The Pirates of Manhattan found that the majority of employee assets in the huge $4.5 billion Federal Reserve System 401(k) dodged most of the stock market meltdown by having a majority of its assets invested in stable-value life insurance products. (PRWeb Dec 2, 2008)
Read the full story at http://www.prweb.com/releases/2008/12/prweb1689414.htm
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third party sues for amounts above and beyond the insurance policy's maximum
coverage. Although purchasing the state's minimum liability insurance allows a
motorist to legally register and operate a car, it is recommended the policy
contains at least five times the minimum liability limits set by the state.
This helps protect assets such as your personal savings, home equity, personal
property, etc. Depending on total assets, a driver may wish to purchase even
higher liability limits. You should check with a licensed insurance agent to
determine the proper liability limits for your insurance policy. He or she can
help you determine limits based on your assets and lifestyle.
Liability insurance can be costly for young drivers or for those
drivers who have a poor driving record (accidents, speeding tickets, etc.) When
acquiring insurance for a driver with a poor driving record, you should always check
with your state's Department of Insurance. They usually have programs to help
drivers purchase liability insurance at a discounted rate. For example, at the
time of this writing, the State of California's
Department of Insurance has a low-income liability insurance program that can
be purchased for only $400 per year.