What to Look For in a Full Coverage Automobile Insurance Quote in Arkansas
Full coverage automobile insurance in Arkansas is made up of several different parts. A full coverage policy includes liability insurance (required of every driver in the state of Arkansas), collision coverage, comprehensive coverage, and uninsured motorist (UM) coverage.
How much of each type of insurance you are required to carry will depend to a large degree on whether your vehicle is financed by a bank or other lender, the age and value of your vehicle, the cost and difficulty of making repairs to your vehicle, the likelihood of your vehicle being stolen, whether your vehicle is garaged at night, the location in which you live and drive, the number of miles you drive each month, and by your deductible – among other things.
If your car is not financed then the state of Arkansas requires that you carry liability insurance in the following minimum amount: $25,000 of medical coverage for each person involved in an accident with a $50,000 cap on medical payments, plus $25,000 in property coverage. This type of policy is often referred to as a 25/50/25 policy.
Given the assets you have to protect and other factors, you may choose to carry more coverage (at a higher monthly premium cost) than the minimums the state requires.
If your car is being financed your lender will require that you carry more than simple liability insurance. Your lender will require that you also carry collision insurance, comprehensive insurance as well as uninsured motorist (UM) insurance.
Collision insurance, as the name implies, covers repair or replacement of your vehicle in the event of a collision. A collision includes striking another vehicle, hitting a stationary object (such as a light pole or a tree) or hitting an animal (such as a deer).
How much collision coverage you carry and the premiums on your coverage will depend on the age and value of your vehicle, where your vehicle is parked at night, how many miles you drive in an average month, your own personal driving record, whether you drive in an urban or a rural environment, how expensive repairs are for your particular model vehicle as well as other factors.
Comprehensive insurance is designed to replace or repair your vehicle if it is damaged by an “act of God” or if it is intentionally damaged by vandalism. An “act of God” can include a tree branch or other natural object striking your vehicle, hail damage, and in many cases water damage caused by flooding.
Again the amount and cost of your comprehensive coverage can vary depending on the value and age of your vehicle, how costly it is to make repairs to your particular model, whether your vehicle is parked in a garage at night, the neighborhood you live in as well as other factors.
Uninsured motorist (UM) coverage pays for repairs to your vehicle should you be in an accident with an uninsured driver and the uninsured driver is at fault. Again, your cost for this insurance is dependent on how many miles you drive each month and whether those miles are driven in an urban or rural setting, where your car is parked at night, the age and value of your vehicle, the cost of repairs to your particular model of vehicle plus other factors.
Your deductible – the amount of cash you are willing to pay from your own pocket any time you file a claim – can greatly affect how much you pay for your full coverage automobile insurance each month; the higher your deductible the lower your monthly premium payment will be.
Now that you have an idea of what to look for in a full coverage automobile insurance quote in Arkansas it may pay you to go online and compare the cost of coverage between different insurance companies. Keep in mind that since no one website makes comparisons between all insurance companies, you will need to make comparisons on at least 3 different websites in order to insure that you really have found the lowest possible price for your full coverage automobile insurance.
Source : http://ezinearticles.com/?What-to-Look-For-in-a-Full-Coverage-Automobile-Insurance-Quote-in-Arkansas&id=711072
Other articles you might like;
- What Kind of Car Insurance Coverage You Should Buy?
- Cheap Auto Insurance – How They Do It
- Buy Auto Insurance Because You Need It
- Low Auto Insurance – How to Find Low Car Insurance Quotes Online
- Shipping to Aruba? Things to Know Before Sea Shipping to Aruba