If your family were operating on a tight budget, then you might want to get just the minimum coverage. Still, you ought to pay attention to the insurance laws in your state.

Personal Injury Lawyer in St John’s knows that most states require all drivers to carry liability coverage.That covers the damages to the other driver’s car, and the injuries to the other driver, as well as those to any other occupants of the damaged vehicle

Complementary policies: Can be purchased in addition to the liability coverage

Collision: That covers repairs to the insured vehicle, regardless of who was at fault for the accident. The accident must have involved a collision of 2 or more vehicles.

Comprehensive: That covers damage that was suffered at a time when the vehicle’s driver’s seat was empty. It also covers theft, and damage that has been caused by a collision with an animal.

Uninsured and underinsured motorist option

Either of those could be added to an existing policy. Each of them covers the difference between the cost of the damage and the amount of money that the responsible driver has the ability to pay, or what the same driver’s insurance company stands ready to pay.

Personal injury protection (PIP)

Those driving in a no-fault state must purchase this type of insurance. It covers the medical expenses for any occupants of a hit vehicle that did not carry car insurance. The PIP payment gets made regardless of who was at fault for the accident.

GAP

The head of a family might never need to consider buying any optional plans that carry the name “GAP.” The GAP coverage was offered when those that had been making monthly payments on a vehicle were in an accident, one that resulted in totaling the insured vehicle.

Today that same situation could still arise, as could one other one. It could be that the driver of a leased car, truck, van or SUV happened to get involved in an accident, on that totaled the leased vehicle. In that case the value of the leased/damaged vehicle might be greater than the payment for the damage.

The lessee would have to come up with the difference, if he or she had not taken steps to deal with such gaps. The same situation would exist, if someone had chosen to pay monthly payments on a family’s mode of transportation, and then got into an accident. Again, that accidental occurrence could have totaled the family’s mode of transport.

Again, too, the damaged vehicle’s value might be greater than the total cost of the damages. Hence, only access to a GAP policy’s funds could save the affected family from the need to continue with payments for the purchased, but non-functioning set-of-wheels.