Affordable Auto Insurance Memphis TN
What is auto insurance?
Owning a car involves several risks. When a car accident occurs, people may be injured and vehicles (or other property) may be damaged. Damage can also occur through theft, vandalism, or natural disasters. Auto insurance can protect you against the financial loss associated with these risks. Insurance companies provide auto insurance through personal auto policies (PAPs). A PAP is a contract between you and your insurer, specifying each party’s rights and obligations. Essentially, your insurer promises to provide specific coverage for you. In return, you pay a premium.
Why do you need it?
State law (and/or your car’s lender) often requires you to purchase at least a minimum amount of auto insurance. You may find it sensible to purchase greater coverage, however, in order to protect your auto investment, pay for necessary medical expenses, cover your legal liability, and cover any additional losses related to driving. Consider the following: if you cause an accident and the other driver suffers damages over and above your insurance policy’s limits, your personal assets and future earnings may be put at risk.
What do you need to know?
First of all, it’s important for you to know how to read and understand an auto insurance policy. Next, you’ll want to carefully balance cost against desired coverage. Finally, you should allow us the opportunity to evaluate and compare the various car insurance products you want or have, to ensure that you get the best value for your insurance dollar.
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