If you own a car you know that the law requires you to have Car Insurance Ann Arbor. You are probably wondering what type of insurance you are required to have. What do all those numbers like 20/40/10 mean? And what exactly does minimum insurance cover?
When investigating the different Ann Arbor Auto Insurance companies begin by getting a quote for the state minimal required insurance. This will be the base upon which you will build your auto insurance policy upon. With the bare minimum coverage by law you will be covered for $20,000 per person that sues you with the maximum payout of $40,000 per accident and $10,000 dollars in damage if the accident happens outside of Michigan.
That does not sound too bad, does it? Well, let us take a closer look at those numbers. If you are at fault in an accident with another vehicle that is carrying three people then your insurance will cover medical fees of approximately $13,000 each. One night in an intensive care unit will cost approximately $3000. This does not include tests, x-rays or physicians fees. Unfortunately, that $13,000 a piece will not last long at that rate. So what happens when you have reached the maximum amount of coverage required for Car Insurance Ann Arbor? You end up paying out of your pocket.
Imagine having to cover not only the cost of the other driver’s hospital stay but that of their time lost from work, car rental, car repair and any long-term disability. Suddenly that accident has become a huge burden financially. How do you keep yourself from going bankrupt due to one fender bender? You opt in for better coverage. This is where a good Auto Insurance agent at America One Michigan Insurance Group will assist you with discovering the true amount of insurance coverage that you need.
While you are researching your Car Insurance Ann Arbor needs, do not forget your own vehicle. Ask yourself: Can you afford to be without a car? Can you afford towing? What will happen if your car is vandalized or damaged in a storm? With the right coverage you can be secure in the knowledge that if your vehicle is damaged you will not be without a ride. So protect your finances and get the true coverage you need.
