Auto Insurance 101
This is a type of insurance that protects the policyholder against losses involving automobiles. Different amounts of coverage can be purchased depending on the requirements of the person purchasing the insurance. Auto insurance rates are determined by a variety of factors which often differ from insurance company to insurance company.
There are basically seven different types of coverage available. Some of these are required by law, while others are optional. They are:
- Bodily injury liability: This is for injuries the policyholder causes to someone else.
- Medical payments: This is for treatment of injuries to the driver and passengers of the policyholder's car.
- Property damage liability: This is for damage the policyholder causes to someone else's property.
- Collision: This is for damage to the policyholder's car from a collision.
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- Comprehensive: This is for damage to the policyholder's car not involving a collision with another car (including damage from fire, explosions, earthquakes, floods, and riots), and theft.
- Uninsured motorists coverage: This is for costs resulting from an accident involving a hit-and-run driver or a driver who does not have insurance.
- Underinsured motorists coverage: This is for costs resulting from an accident involving a driver who does not have enough insurance.
Arizona Auto Facts
Arizona is the number two state for vehicle theft per capita. In 2006, there were 54,849 motor vehicles stolen in Arizona. (Source: FBI UCR Report). In Arizona a vehicle theft occurs every 9 minutes - 48 seconds.
In 2005, there were 139,265 total crashes, with 66.68% causing Property Damage, 32.57% causing Injury and a tragic .75% causing fatalities. (Source: AZDOT)
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