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What are my coverage and deductible options?
Deductibles
The deductible is the portion of a covered loss that is your responsibility. The deductible, when applicable, applies to each covered loss. Although deductibles vary, they are typically available in amounts such as $500 or $1000.
For example, if you had a $500 deductible, you would need to pay $500 of the covered loss.
Generally speaking, higher deductibles lower your premium, but increase the amount you must pay out of your own pocket if a loss occurs. Ask yourself how much you are willing to pay in order to save on premium.
Coverages
Coverages are broken down, according to purpose, but are generally combined into one policy. The most common coverages are:
- Liability
Pays damages due to bodily injury and property damage to others you are responsible for. Bodily injury damages include medical expenses, pain and suffering, and lost wages. Property damage includes damaged property and loss of use of property. If you are sued, it also pays your defense and court costs. Laws usually determine minimum amounts, but higher amounts are available.
- Personal injury protection
Required in some (no-fault) provinces, it is optional in others. Pays you or your passengers, regardless of fault, for medical treatment due to a car accident. It may also pay for rehabilitation, lost earnings, replacement of services (child care if a parent is disabled, for example) and funeral expenses. Minimum amounts are usually set by state law.
- Medical payments
Available in non-no-fault provinces and pays regardless of fault. Pays for an insured's reasonable and necessary medical and funeral expenses for bodily injury from a car accident. Generally, $1,000 minimum amounts are offered; higher amounts are available. It may be supplemented with other coverages that pay for loss of earnings, total disability or death.
- Collision
Pays for a covered car damaged by collision with another object or by upset of the car. A deductible is required.
- Comprehensive
Pays for loss of or damage to a covered vehicle, except loss caused by collision or upset. Examples include loss caused by fire, wind, hail, flood, vandalism, theft or impact with an animal. A deductible may apply.
- Uninsured motorist
Pays damages when an insured is injured in a car accident caused by another person who does not have liability insurance. Application of this coverage varies by state and depends upon policy provisions.
- Underinsured motorist
Pays damages when an insured is injured in a car accident caused by another person who has insufficient liability insurance. Application of this coverage varies by state and depends upon policy provisions.
- Other optional coverages include:
emergency road service, car rental, and travel expenses due to a covered loss.
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Who is covered under an auto policy?
Your policy usually covers you, your spouse, and other relatives who live primarily in your household and others who have permission to drive one of your covered vehicles.
This information is only a general description of the available coverages and is not a statement of contract. All coverages are subject to all policy provisions and applicable endorsements. For further information, see your State Farm agent.
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