How To Choose The Right Car Insurance For A Week
How many times a year do you need car insurance? The answer is probably never. Most of us purchase car insurance at regular intervals, such as every six months for most people, or when we apply for a driver’s license. If you don’t plan to buy car insurance for a long time, purchasing a short term policy is a good idea. Here are some tips for finding a short term car insurance policy.
Look up your state’s minimum coverage requirements. A typical policy should provide liability coverage, physical damage liability, medical payments and property damage liability. One-week motor vehicle insurance isn’t always available everywhere, however. Some short term insurance can only be obtained for up to thirty days. There are no annual premiums or long-term contracts associated with this type of policy. Your basic coverage would consist of bodily and property damage liability, as well as personal injury protection.
Check online to see if there are any special deals on a temporary policy. Often, insurance providers will offer specials just for people who choose to get a short term policy. You may even qualify for a percentage reduction if you purchase online. Consider signing up for both temporary coverage and an annual policy to make sure that you have coverage if something should ever happen to your vehicle.
Find out what types of options you can choose from if you need coverage immediately. Many insurers will allow you to borrow against your policy if you need coverage within a week of a claim. The amount of the borrowing will depend on the lender and will either be in the form of a lump sum or a series of monthly payments. With a loan, some insurers will forgive the cancellation fees, but the total cost of the insurance will be subject to these fees.
You may also be eligible for rental reimbursement benefits if you rent more than one automobile on a regular basis. This coverage is not available with all insurers, so shop around for quotes first. However, if you own an automobile that you use frequently for business, you may find that this is a better option for you. You can often get up to twice the amount of rental reimbursement you pay with this option.
As mentioned earlier, many insurers include rental assistance benefits with their car insurance policy. In addition, some offer additional coverage when drivers take advantage of the Rental reimbursement Benefit. This is designed to cover the expenses that you incur while renting a car, such as a gas card or a toll tag. These benefits are typically only offered to new drivers. If you’re already a driver or know that you’ll soon be, find out if your current insurance provider includes rental car reimbursement with your coverage.
Liability insurance policies for business provide coverage for damage to property and bodily injury to others. The cost of liability insurance policies varies by insurer. Make sure that the coverage is high enough to protect your assets in the event of a lawsuit. Be careful, though, because a judgment in a personal injury case could mean a windfall of profits for the other party.
There are numerous types of temporary coverage that most insurance companies offer. These include rental car reimbursement, liability coverage and temporary roadside assistance. Temporary coverage can give you instant protection when you need it, but you should understand that it won’t be for every situation. Take a moment to learn more about the different types of insurance available to you. Most importantly, make sure that you are covered by enough insurance to protect your assets in case of an accident or any emergency situation involving your vehicle.