Car insurance premiums are expensive, so many drivers opt for the least-costly policy when they sign up for coverage. Although it’s important to get a good deal on car insurance that suits your lifestyle and budget, there are some add-ons that don’t inflate your premium but could save you hundreds or even thousands in the long run. Below are four types of car insurance coverages you should consider adding to your policy.
Rental Reimbursement Coverage
If you’re in an accident and your car needs to be repaired, rental reimbursement coverage will repay what you have to spend on a rental vehicle. A car can easily be in the shop for up to two weeks following an accident, so having the cost of a rental car reimbursed can lead to hundreds of dollars returned to your bank account.
Uninsured/Underinsured Motorist Coverage
What if you’re in an accident with someone who doesn’t have car insurance? Uninsured/underinsured motorist coverage will kick in and cover the costs of repair if the at-fault driver doesn’t have any or adequate coverage. UM coverage is optional in Florida but can prove to be invaluable if the other driver either doesn’t have insurance or doesn’t have enough to cover your claim. In the event of an accident, your own liability limits may not sufficiently cover the cost of damages or medical bills. You may never expect to be involved in an accident with an uninsured driver, but the percentage of drivers who are on the road with the bare minimum is a lot higher than you’d think.
Car insurance policies fall under two broad categories: comprehensive and collision. Collision coverage pays for expenses in the event of an accident with another vehicle, and comprehensive covers everything else. Every provider offers different levels of coverage under their comprehensive policies, but you can expect to find coverage for anything ranging from weather damage to theft and vandalism. Although it’s not mandatory in any state, comprehensive coverage is a valuable investment that many drivers consider a necessity. If you live in a state that experiences frequent hurricanes, tornadoes, flash floods, or snowstorms, comprehensive coverage could be an especially valuable add-on to your existing policy. It’s also worth considering if you drive through areas with lots of wildlife that wanders into the road, such as deer.
Personal Injury Protection (PIP) Coverage
Not every state requires personal injury protection, including Ohio. PIP coverage pays for medical expenses related to a car accident regardless of which driver is at fault. To expand on this coverage, drivers could add medical payments coverage, which provides additional compensation in the event of an accident. Keep in mind that hospital bills can be thousands of dollars even for a simple bandage, so having adequate medical coverage and injury protection could prove to be financially critical for any driver.
Explore your options for car insurance by checking what your provider currently offers. Don’t hesitate to reach out and ask for price estimates; you may be surprised at how much you can improve your coverage for a low cost.