The Right Auto Insurance in Michigan Provides an Economic Safety Net
Traffic collisions in Michigan have increased by over 15,000 between 2012 and 2013. While 2014 statistics are not yet available as of this writing, it’s not unreasonable to think they’re about the same or higher than previous years. Whether or not your business or profession requires constant traveling, getting involved in a major car accident can spell economic disaster. For this reason, you have to purchase the right auto insurance in Michigan.
The Insurance Information Institute provides comprehensive information on vehicle insurance, including its importance and how to purchase it. The most apparent benefit of having vehicle insurance is to keep yourself in the law’s good graces in case of accidents. In addition, you can protect yourself from the financial liabilities that come with car accidents.
A lot of business owners, meanwhile, are not aware that their vehicles are not covered by business owners policies (BOPs). These policies cover only business premises and their contents, loss of income due to fire or disaster, and personal injury due to defective products. If you own a business, you’ll have to purchase a separate insurance policy for your company vehicle.
There are different types of car insurance in Michigan. Liability insurance covers bodily injury or property damage you caused. Collision coverage pays for repairs following damage to your vehicle, whether or not you are at fault. Comprehensive auto insurance, on the other hand, covers damage to your vehicle arising from incidents other than a collision such as vandalism, theft, fire, and fallen objects. Finally, uninsured/underinsured motorist and property damage coverage protects law-abiding motorists in case they get into an accident involving an uninsured driver.
At any rate, never take vehicle insurance lightly. Besides saving you from financial woes, the right vehicle insurance coverage will allow you to have instant professional assistance to fairly legislate payments and responsibilities in an accident. You will, however, need to make sure you’re choosing the right insurance policy plan.
To do that, you’ll want to consult an agent from a company like Allied Insurance Managers, Inc. Such an agent will guide you in choosing an insurance policy that perfectly suits your needs and also help you maximize your coverage. Given that your choice of vehicle also affects your monthly premium, you can count on your agent to help you identify the right car for your needs.
(Source: Business Vehicle Insurance, iii.org)