If you’re like most people, you don’t pay attention to the intricate details of your car insurance until you’re involved in an accident. If you’re not sure what your policy covers, you could be paying more for insurance than you should. You could also be unpleasantly surprised if you need to file a claim for damages from a collision. Following are some things you need to know about personal auto insurance policies in Lisbon.

When Medical Coverage Begins: Medical coverage is typically included in Personal Injury Protection (PIP) policies. It covers missed work, medical bills, and many of the other items that can be expensive after an accident. The coverage also takes effect when a person needs to miss a great deal of work or needs treatment for an extended period of time.

What Comprehensive Insurance Really Covers: When you buy comprehensive personal auto insurance policies in Lisbon, you are buying protection for anything that happens to your car that is not the result of an accident with another vehicle. It will reimburse you for damage caused by theft, fire, flood, or other natural disasters.

It’s Not Hard to Switch Insurance Providers: Switching providers is not complicated; in fact, most insurance companies will let you terminate your policy at any time as long as you submit a request in writing.

The Importance Gap Insurance: Simply put, gap coverage fills the gap between what your vehicle is worth and what you still owe on it. Since most cars start depreciating as soon as they leave the lot, the gap between actual value and owed value can sometimes be very expensive. Gap coverage allows you to pay off the damaged car so that you can afford to buy a new one.

Choosing the Right Parts for Repair: Your personal auto insurance policies in Lisbon will typically only cover particular types of repair parts. The auto body shop will need to know whether you want to use original manufacturer equipment (OEM), or aftermarket parts in the repair work.

Understanding Actual Cash Value: You may be surprised to learn that the actual cash value is less than the amount you reported as the value of your vehicle. That’s because the actual cash value is the amount that the vehicle is worth at the moment after depreciation. It’s a good idea to check on the real value of your vehicle with your insurance company regularly.

The Difference between Underinsured and Uninsured Motorist Coverage: Underinsured motorist (UIM) and uninsured motorist (UM) may sound similar, but they are treated completely differently in the event of an accident. If the person who carries UM insurance is in an accident with a driver who has no insurance coverage at all, the UM insurance will cover all of the costs of the accident and any medical costs.

The Truth About Full Coverage: Full coverage means your personal auto insurance policies in Lisbon meet all of the requirements so you can register the vehicle and renew the tag each year. Every state has a different set of legally required minimum insurance.

What No-Fault Insurance Covers: No-fault coverage means the insurance company will reimburse the driver and passengers regardless of who is found at-fault for the accident. It protects the driver from being left without any insurance coverage under any situation.

Don’t wait until an accident occurs before you pay attention to the details of your personal auto insurance policies in Lisbon. Contact us today to discuss your coverage so you can rest assured that you are properly protected.