3 Types of Optional Car Insurance You Should Get

December 12th, 2014 by


When you buy a car, one of the first things you have to do is get insurance for it. Every state has different requirements, but in most, you’ll have to get a certain amount of liability insurance, which will cover damages to your car in the event of an accident.

The insurance only covers damages up to the amount specified in the policy, and it may not cover injuries for all passengers in your car or the other car involved in the accident.

Many additional types of car insurance are available to offer additional protection. Here are three types of optional car insurance that you should get in addition to your required liability insurance:

Medical Payments Coverage

In many cases, liability coverage will only pay for injuries for certain parties involved in the accident and will only pay a certain amount. If you are in a serious accident, your medical bills will easily surpass what is covered by liability insurance. By getting additional medical payments coverage, you can provide financial protection for yourself and your passengers in the event of serious injury.

Uninsured Motorist Coverage

If the other driver is at fault in an accident, that person’s insurance company is liable for damages to your vehicle and the medical costs for your injuries. But what happens when the driver doesn’t have insurance? Or doesn’t have enough insurance to cover the damages or medical expenses? Your insurance may not cover you. By getting uninsured and underinsured motorist coverage, you can be sure you are covered in these situations.

GAP (Guaranteed Auto Protection) Insurance

Insurance typically pays for the cost of repairs to your vehicle if you have been in an accident. However, the cost of repairs can quickly exceed the value of the vehicle if you have been in a serious accident. If you are still paying off your car, the current value of your vehicle may be less than you actually owe on it thanks to the rapid depreciation of cars and the sometimes high interest rates on car loans.

GAP insurance pays the difference between what your car is valued and what you owe, ensuring that you aren’t still on the hook to pay for a car that you aren’t even able to drive.

Sometimes, when you shop at a Buy Here Pay Here dealership in Rhode Island, you may be able to buy GAP insurance from the dealership directly. Otherwise, you can easily buy these optional insurance plans from your insurance provider. You may consider exploring other types of coverage that pays out if your car is damaged in a natural disaster (useful if you live in a hurricane- or flood-prone area) or is stolen.

The more coverage you can afford to buy, the better covered you will be when the unexpected happens.