Given the increasing demand for cars, it is obvious that people are more interested in buying car insurance. Every other house in your neighborhood owns a car. Multiple states in the United States of America have made it mandatory to carry insurance. In fact, car insurance has multiple benefits so you cannot avoid it. And the various car insurance add-ons make it even more lucrative and beneficial at the same time.
For healthy living, we need a balance of nutritious food and that applies to your car too. It needs good insurance for continuous operation without a financial burden on you. Every state has a certain amount of liability coverage that you have to carry while driving. Insurance agents definitely suggest a few add-on coverages to customers. Some of them are really worth having. That’s the reason that we are going to share a few of them with you. Car insurance with extensive coverage is something you should never neglect.
Car Insurance Add-Ons Explained
The various Car insurance add-ons are:
#1: Roadside Assistance
This coverage doesn’t come into the picture once you are injured or meet with an accident. It offers you assistance while you are on the go. The services include mobile repair and towing. It may happen that while driving your car breaks down so the service is essential. The mechanics assess problems, fill up the empty tank, and even change the tyres. In case, the mobile service doesn’t succeed then they will take your car to repair the facility. If most of the time you travel alone then this service is important. It will provide you with immediate assistance. We highly recommend choosing this add-on for your car insurance policy. Some of the reputed companies providing this add-on are AllState, StateFarm, etc.
#2: Personal Injury Protection
Most of the people think that car insurance means covering the damages of your car. It is actually true but what about your safety? If you are driving and your car is damaged that means it will hurt you too. Don’t you think you also need protection? Personal injury protection covers a variety of expenses. It depends on the policy you choose. However, the main coverage is for the driver who suffers an injury during an accident. In the case of no-fault insurance, you will need PIP. Another party won’t cover medical expenses for you. Some insurance companies do cover funeral or loss of income expenses.
#3: Vanishing Deductible
For those who don’t know, the deductible is an amount that you pay before receiving insurance benefits. So you file a claim and make payment of deductible then insurance company provides coverage. Insurance companies are using vanishing deductible add-ons for premium policies. It reduces deductible by some amount at the beginning of the policy. For example, $100. Now, it continues a reduction of $100 annually. This continues until your deductible reaches zero. Also, this only applies to those drivers who maintain a clean driving record. So in order to take benefit of this financial savior drive safely and consciously.
In case, you meet with an accident then you have to pay the lower amount. There are multiple companies that are adding this feature to their car insurance policies. People are really happy with this add-on as they want to save money at any cost.
#4: Uninsured Motorist Coverage
If you live in a state where people drive without insurance then you have to add this coverage. An uninsured motorist will hit you and in no time you will be left with the hospital bill. These days people have to pay a hefty amount to get treatment in the best hospitals. So you cannot risk your savings due to someone else’s fault. This is the sole purpose of uninsured motorist coverage. Your own add on in policy will kick in, the time you need it. Rather spending your copious time on suing a driver or court buy this add-on. Do check whether your company provides this add on or not.
#5: Gap Insurance
Gap insurance is a protector for those who have bought their car on loan. Now, you are paying your monthly installments on a regular basis. If you meet with an accident then the insurance company will use its standard valuation measures. This means it will determine your car’s cost, the time it met with an accident. That’s the amount you will get after filing a claim. If your car is on loan and the insurance company pays you less, it will create a gap. So even after getting insurance benefits, you will have to pay a loan.
The gap is more in the case of brand new car drives. We know the book value of cars depreciate the time you start using it. After a few years, the loan amount may catch up with the rate of depreciation levels. This will certainly mean that gap disappears. So you must add it in the initial years of your new car purchase. After that, you can even drop it from your car insurance policy.
Just like any other addition to your life, add on is going to make your life easy. Buying a few car insurance add-ons is going to make your policy more secure. Car insurance has a lot of benefits then people think of. You just have to look for the right set of benefits. They help you in fighting with financial imbalances in your life that come with accidents. These additions are going to be a great savior for you in the coming future. We didn’t only focus on the car but on you too. We humans often neglect the fact that along with cars, we need protection too. That’s why the introduction to personal injury protection is crucial.
Don’t misunderstand your insurance agent, if he or she tries to suggest an add-on feature. They know exactly what you need. You have to be alert and do a bit of research on your own before rejecting a service. After all, extensive coverage is only going to enhance the benefits. So we only added the ones that are really important. If you believe there is any other feature that must be part of this article then share it with us. We would like to know what are your thoughts on car insurance add-ons. The comment section is open to your suggestions.