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Protect Family with Auto Insurance

Family auto insurance policies can be a nightmare to put together for many reasons. Of course, there is the obvious one staring every parent in the face, and that is money. When you have a growing family and your kids get to the age when they're learning how to drive, it seems like money is always in short supply around the house and in the checking account. Then there is the question of how to deal with new teen drivers who have no experience behind the roads. Our first instinct as parents is simply to not allow them to drive...ever. But before long we have to admit that this really isn't a workable option. Therefore, we have to live with the next best thing.

Protecting your family is your top priority as a parent and a spouse. This means everyone including your husband or wife, all the kids, and even yourself. In spite of the obvious concern for money that almost all of us are all too familiar with, protection has to be the top priority informing the choices you make in the type of policy you select. But even though that may be the case on a fundamental level, the policy still has to be paid for somehow. So, the struggle back and forth between protection and cost savings rage on and on, and your family is kind of stuck in the middle.

Protect Family and Assets First

Since no one is made of money, and most people face significant financial restraints informing the choices they make on auto insurance protection, the focus has to be on protecting your family and your assets first (and in that order, of course). Virtually everywhere across the country, drivers are legally required to carry some form of auto liability insurance unless they can afford other online self insurance options that some states do offer. The vast majority of motorists among us have to opt for the liability plans. For all of us, that liability policy is more valuable than we may realize. It covers medical treatment, rehab, and even funeral and burial expenses incurred by other drivers, passengers, and pedestrians in accidents for which you were at fault. It even includes provisions for legal fees and pain and suffering losses (limited in certain legal ways by some states).

Clearly, liability auto insurance is extremely valuable. It does much more than get us out on the road and make us eligible to get our license plates renewed. It also protects us from potentially disastrous financial consequences that could otherwise accompany one of these accidents. For this reason, a solid liability policy is essential. Most states do not require very much at all. In fact, the minimum requirements for property damage liability in most states would not even be enough to buy a new car. For this reason, as the leader of a family you ought to beef up your liability policy. Do not let any of the drivers in your household face these sorts of circumstances without some proper protection. Drivers are encouraged to buy at least $100,000 per person and $300,000 per accident in bodily injury liability and at least enough property damage liability insurance to pay for an average new car. Otherwise, these policies may not be worth much more than the paper they're printed on when an accident happens.

Uninsured and Underinsured Motorist Coverage

Uninsured and underinsured motorist coverage basically pays the expenses that the other driver should pay if that driver is at fault but uninsured or underinsured. This area of insurance is essential because it limits your out of pocket costs in these accidents. It would be a shame if someone in your household got into an accident that was not even their fault, then had to pay all kinds of money or had to go to court to try to recover damages from an uninsured driver. Uninsured and underinsured motorist protection also applies for any hit and run case. Insurers treat hit and runs as uninsured drivers, so if you have this protection you can get payment to take care of your expenses and protect your family when these accidents happen.

Personal injury protection (PIP), also known as no fault, is required in some states. It covers medical, rehab, and funeral expenses for household members along with certain other expenses. Unless there is little or no health insurance, your investment in PIP should be limited to the state minimum.

Comprehensive and collision insurance also have some value, and they should be included in family policies if all these other areas have been addressed, there are cars worth carrying this coverage on, and there is enough money in the budget to handle the extra expense. Collision and comprehensive are actually required by most lenders when a car's financed or leased.

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