While some people purchase the minimum car insurance necessary to legally drive the car, others make the decision to invest in insurance that offers more protection to the car owner. When you own a car that you depend on, it's important to protect your asset. Car repairs can get expensive, and if your car is no longer under warranty, you will be responsible for major repairs when they arise. To keep yourself protected, but not purchase insurance that you don't need, it's important to consider the types of auto insurance coverage available to you.
Collision Coverage Only
People who are driving cars that aren't worth much, tend to only have minimal collision coverage. They are taking the chance that if the car needs a major repair, it will be more cost-effective to simply purchase a new car instead of fix the old one. Collision coverage pays for the value of the car, but in older cars, this amount can be much lower than the cost of a repair.
Auto Maintenance Coverage
When you own a new car, it's important that your car be properly maintained. This means that you will need to get regular oil changes, tires rotated, and fluids checked. The costs associated with adding on auto maintenance coverage is generally worth it to those who are going to provide solid maintenance to their new vehicle. You won't have to worry about paying for maintenance costs as they arise, and can instead budget for repairs by purchasing additional insurance.
Auto Component Coverage
Powertrain warranties run out after so many miles, but that doesn't mean you aren't going to keep your car for years to come. When you want to continually be protected, even when the warranty has run out, you need to purchase auto component insurance to protect your vehicle. This is important coverage if you are concerned about paying for major repairs, and you want to continue driving your vehicle long past any warranties have expired.
When you own a vehicle, having the right insurance coverage is essential. While you can get by with a minimum of insurance, this is usually not practical for people who are driving anything other than a really old car. You should be protected in the event an expensive component of your vehicle needs to be replaced. In addition, a maintenance plan will allow you to budget for maintenance on a monthly basis. For more information, contact companies like NWVA.