What Sort of Coverage Does My Motor Vehicle Insurance Policy Provide?

Certain coverages are compulsory. That means that the coverages are required to be purchased when your automobile is registered. The most important of these coverages are:

• personal injury protection also known as PIP or “no fault” coverage;
• uninsurance protection; and
• bodily injury coverage.

The minimum limits of coverage are mandated by law. Currently, personal injury protection coverage is $8,000.00 which is available to pay medical costs and wage replacement. Uninsurance benefits are required to be maintained at the $20,000.00 level. Bodily injury coverage is likewise required to be $20,000.00. Periodically, these limits are increased. Of course, you may purchase coverages above and beyond these minimum limits. As will be discussed below, you should carefully consider the needs of you and your family and wisely buy insurance coverage like you would any other consumer product or service.