How Much Car Insurance Do I Need?

from Fox Insurance Agency

How Much Car Insurance is Enough

Car insurance is a combination of many types of coverage within one policy. A typical auto insurance policy will include comprehensive, collision, medical, liability and uninsured motorist coverage.

Oregon Car Insurance Needs

Each person's situation is unique and the type of car insurance that each person needs will also be unique. When figuring what kind of car insurance you need, you should consider:

• Liability will cover the damage you cause to another car, person or piece of property if your car is involved in an accident. If you are sued after an accident, this insurance will protect you. The more assets that you have, the more you stand to lose. If you have a lot of financial resources, you will need liability coverage that exceeds the coverage you will find in your auto insurance policy. If you are in this position a personal umbrella will provide the extra liability protection necessary.
• Collision provides coverage for damage Fox Insurance Agency can help you decide whether or not collision coverage is necessary by comparing the cost of collision insurance and the value of your car. For example, if your car is worth $1,000 paying $200 a year for collision insurance may not be worth it. But, if your car is worth $10,000, the coverage will probably be worth it.
• Comprehensive coverage will pay for your car if it is stolen, vandalized or damaged in some way other than in a collision.
• Medical coverage will provide funds for medical expenses that you and your passengers incur as a result of an accident. The way that you use your car will affect the amount of medical coverage you will need. If you are going to be carrying a lot of passengers on a consistent basis you will need more coverage than if you expect to be travelling alone.

Oregon requires a specific minimum amount of car insurance coverage. You will need to develop the right Oregon car insurance coverage for your needs. To do this, talk to us today to find out how to get the best price and value on Oregon auto insurance for you.