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304 North Cardinal St.
Dorchester Center, MA 02124
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Understanding Car Insurance Coverage
Car insurance is a crucial aspect of financial security, protecting you from costs associated with accidents, natural disasters, theft, or vandalism. According to the 2019-2020 Auto Insurance Database Report from the National Association of Insurance Commissioners, the national average annual premium is $1,176. At O1ne Mortgage, we understand the importance of having the right coverage to safeguard your assets.
What Car Insurance Covers
Car insurance policies typically include several types of coverage:
- Liability Coverage: This covers damages to others’ property or injuries to others if you are at fault in an accident.
- Bodily Injury Coverage: Pays for medical expenses for injuries to other people in an accident you caused.
- Property Damage Coverage: Covers damage to another person’s property when you are at fault.
Most states require at least liability coverage, but you can customize your policy with additional options to suit your needs.
Additional Forms of Car Insurance Coverage
Beyond the basic coverage, you can opt for additional protection:
- Medical Coverage or Personal Injury Protection (PIP): Covers medical expenses for you and your passengers.
- Uninsured/Underinsured Motorist Coverage: Protects you if you’re in an accident with a driver who lacks sufficient insurance.
- Comprehensive Coverage: Covers non-accident-related damage, such as theft or natural disasters.
- Collision Coverage: Pays for repairs to your vehicle after a collision.
What Car Insurance Doesn’t Cover
It’s important to know what your car insurance policy does not cover:
- Intentional Damage: Damages caused intentionally, such as breaking a window to retrieve keys.
- Mechanical Breakdowns: Issues like engine failure or transmission problems.
- Normal Wear and Tear: Regular maintenance and wear on parts like tires and brakes.
- Personal Belongings: Theft or damage to personal items inside the car.
- Racing or Illegal Activities: Damages incurred during illegal activities.
Contact O1ne Mortgage for Your Mortgage Needs
At O1ne Mortgage, we are dedicated to helping you find the best mortgage solutions. For any mortgage service needs, call us at 213-732-3074. Our team of experts is ready to assist you in securing the right coverage and financial products to meet your needs.
Understanding your car insurance policy is essential to ensure you have adequate protection. For more information and personalized assistance, reach out to O1ne Mortgage today!
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