What are the 3 Parts of an Auto Insurance Policy?

Not Sure How Car Insurance Works? Wondering, “What are the 3 Parts of an Auto Insurance Policy?”

Then we’re here to help! The Insurance Stops is a trusted car insurance company here in COS. We love equipping people with the tools and the knowledge that they’ll need to choose the best car insurance policy for their unique needs. So if you want to know more about car insurance and you’re wondering, “what are the 3 parts of an auto insurance policy,” then we’d be happy to address all of your car insurance questions and help you evaluate your best car insurance options for free!

First, let’s answer that very important question of yours: “what are the 3 parts of an auto insurance policy?”

Most auto insurance policies are made up of three parts: liability insurance for bodily injury, liability insurance for property damage, and uninsured/underinsured motorist coverage.

Let’s chat about each of these parts in more detail.

Liability Insurance for Bodily Injury 

This type of liability insurance protects you against the claims of other people who are injured in an auto accident that you caused. This includes medical bills, lost wages, and pain and suffering charges. By having adequate liability insurance for bodily injury, you won’t have to worry about paying out-of-pocket for any drivers injured in an auto accident for which you are at fault. Instead, your car insurance company would pay for these fees. 

Liability Insurance for Property Damage

Similar to liability insurance for bodily injury, liability insurance for property damage protects you against the costs of other drivers’ damaged property in an auto accident for which you are at fault. This includes damages to other vehicles, as well as property damages including walls, fences, and equipment.

Uninsured/Underinsured Motorist Coverage

In the event that you are involved in an auto accident with a driver who does not have adequate car insurance, uninsured/underinsured motorist coverage protects you from having to pay for the damages to your vehicle out of your own pocket. Uninsured/underinsured motorist coverage is a great way to protect yourself from motorists who do not adhere to the minimum coverage requirements of the state of Colorado. By investing in uninsured/underinsured motorist coverage, you won’t have to worry about getting stuck with the damages and the bill in the event that you’re hit by an underinsured driver.

Still Wondering, “What are the 3 Parts of an Auto Insurance Policy?”

If you still have questions and you’re still wondering to yourself, “what are the 3 parts of an auto insurance policy,” then we’d be happy to give you the answers that you need! The Insurance Stops is a team of car insurance professionals here in Colorado Springs. Whether you’re looking for a new car insurance policy or you’re a first time shopper, we’re here to address all of your car insurance questions. Even better, we’ll help you weigh your best coverage options! Claim your free car insurance quote today, and start comparing car insurance policies for free!