subject: Santa Monica Insurance Coverage Options [print this page] If you reside in Santa Monica and are in the process of purchasing a vehicle for the first time, you must obtain a number of different quotes from reputable insurers in the area to make a wise investment. While insurance is required in the state of California as stipulated by the state's financial responsibility laws, investing in adequate coverage that will protect your vehicle and your assets in the event of a loss is extremely important. When you are comparing coverage limits and options, know what they cover and why they are important to prevent coming out of pocket for repairs or lawsuits for compensation in the event you are not carrying high limits of liability. Compare Santa Monica Insurance coverage options to educate yourself before you bind coverage.
Personal Liability
Personal Liability Insurance is the only coverage required in the state of California. Personal Liability consists of both Bodily Injury Coverage and Property Damage Coverage. Bodily Injury will pay for injuries to a third party and their passengers in the event you are deemed at fault for an accident. Property Damage will pay for damage to third party vehicles and property if you are at fault. While the state only requires drivers to carry $15,000 per person/$30,000 per accident of Bodily Injury and $5,000 of Property Damage cover, it is important to bind higher limits to protect your assets. Discuss higher limit options with an insurance agent to determine the additional premiums charged.
Uninsured Motorist
Uninsured Motorist Coverage is an optional coverage in the state of California. While it is optional, policyholders must be advised this coverage is available and must sign a rejection form if they choose not to carry it. Designed to cover the policyholder and their passengers, UM coverage will pay for injuries caused by an individual who has no Santa Monica insurance or not enough insurance to pay for injuries. Limits can be equal to your Personal Liability insurance limits or lower depending on your preference.
Physical Damage
Physical Damage coverage is, also referred to as comprehensive and collision coverage will pay to repair or replace your vehicle in the event of a covered loss. Comprehensive covers fire, theft, vandalism and other damages that are not caused in motion. Collision will cover repairs or replacement of your vehicle in the event of an at-fault or not at-fault accident. While these coverage options are optional, your finance company will require these coverage if you are making payments.
Compare policy limits and deductibles and build a policy that is tailored to your needs. While your budget may be a concern, quote options and bind coverage you can reasonably afford. With online quoting tools, it has never been easier to customize a policy that suits your needs.
by: Barbara Jackson
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