What You Need to Know About Auto Insurance

​Auto insurance is a binding contract between the insurance company and the policyholder. When you agree to pay for the premium, the company insurance then agrees to pay for the losses stated in your policy. Here are some things you should know about auto insurance: 

The Difference Between Comprehensive and Collision Coverage 
When it comes to your car insurance, this is usually where a lot of people are confused. Some people do not seem to understand what they are getting. 

A quick survey shows that at least 68% of Americans believe that their comprehensive insurance policy covers their vehicle's damages due to a collision. 

Comprehensive Insurance
This type of insurance coverage gives you protection against damages caused by accident except due to a collision like a flood, vandalism, falling trees or rocks, hitting an animal, hail, and even theft. 

Collision Insurance
This type of insurance compensates and reimburses you for the damages to your vehicle due to an accident or collision with another car or object, such as guardrails or trees, even if you are at fault. This policy also shoulders damages caused by potholes or even from rolling your vehicle. 

Both the collision and comprehensive coverages are optional policies that you can get to safeguard your vehicle further. Your liability insurance coverage is required because it shoulders and handles the fees associated with death, injuries, damages you have caused towards another car or property that you or another driver has caused while driving your vehicle. 

A More Expensive Car Does Not Cost More to Insure 
It is essential to know how much your insurance policy will cost for different models you should consider when looking for a new car. 

It is said that a costly SUV might even have better claim rates for thefts and accidents versus a cheaper or lower-priced vehicle. That is why the premiums eventually cost less. 

Conclusion 
Shopping for insurance is just like any other purchase. If you want to get the most appropriate and best price, you need to look for the best insurance company. It is best to compare shops and do some research. 

At Hayek Insurance, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (805) 496-8835. Get your free quote today by CLICKING HERE.