Nearly everybody knows someone who has been in an auto accident so what Car Insurance Add-Ons that are Worth the Money?
Whether the cause was a distracted driver not paying attention as they merged into their lane, a drunk driver roaring out of nowhere, an inexperienced driver trying (and failing) to learn the ropes, or something as simple as hazardous driving conditions, very few have escaped unscathed.
Moreover, getting caught in an accident can be costly: the total cost of car accidents in the U.S. has been estimated to be around 242 billion dollars, with individual claims for personal injury averaging about 15,443.
And the roads are getting worse.
While experts believed that the pandemic would cause a reduction in automobile accidents, what actually resulted was the most significant single-year spike in fatalities in about 100 years.
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Looking Out For Your Loved Ones
Auto accidents can happen at any time and any place, for any reason.
As such, you’ll want to make sure that your family is adequately covered and that they know what to do if they get in an accident.
Whether your area is reporting a decrease in accidents and fatalities or not, the problem is so endemic in our society that caution is still warranted.
While measures like defensive driving may help keep you safe on the road, you should also have adequate protection if the worst does occur.
The base protection required by most states will cover a portion of your damages.
Still, it might not nearly be enough: you may want to invest in an extra layer of protection add-ons that can help in specific situations not covered by baseline coverage.
Suppose you’re looking not to break your budget.
In that case, you can use a tool that compares auto insurance rates from different providers, gathering all the offers available into a single, easy-to-browse system.
You can then get an accurate picture of what you’ll be paying for the add-ons below, leveraging the costs and benefits of each and picking a plan that will provide the best service for you without breaking your budget.
Let’s take a look at add-ons that consumers have reported are worth your money.
Zero Depreciation Add-Ons
It’s widely acknowledged that the moment you drive your car off the lot, its value starts to depreciate in auto insurers’ eyes.
Insurance professionals actually project how much wear and tear your car has accrued and subtract that from your vehicle’s insured declared value (IDV), or the maximum claim you can make if your car is stolen or damaged.
Your car is literally worth less money in the eyes of insurers, constantly depreciating in value and limiting how much you can claim from them: unless that is, you get a buffer that halts this process.
Zero depreciation add-ons make sure that depreciation isn’t a factor in the amount of your settlement.
You’re essentially paying insurance providers to not devalue your policy as your car ages and becomes less reliable.
This can be exceptionally useful for families who have just purchased a new vehicle, though it should be noted some providers allow a limited number of zero depreciation claims.
Roadside Assistance
Roadside assistance is meant to provide rapid, covered assistance when something happens and you get stranded on the side of the road.
Whether the cause is a vital part of your car suddenly failing (like the transmission), a tire blowout, or something similar, roadside assistance covers common expenses that one might have to deal with out of pocket otherwise.
Here are some things covered by your average roadside assistance policy:
- Calling an experienced mechanic. Insurance providers have mechanics that they can trust on-call, able to go to your location quickly and provide a variety of services. These services might include:
- Changing flat tires.
- Repairing minor issues where you are.
- Battery jumpstarts.
- Delivering fuel and/or replacement car keys.
- Towing your vehicle elsewhere. If they can’t fix your issue on-site, the mechanic can tow your vehicle to their shop or just back home if you need it.
Passenger Coverage
For families, this might be one of the most essential add-ons out there.
Your average basic car insurance policy, composed of just the policy elements required by your state, will only cover damages incurred to the driver, not passengers.
Passenger covers add protection for passengers in your vehicle, covering their ambulance fees, medical bills, and ongoing treatment costs as well as compensation for more debilitating injuries that may result in long-term disability.
Passenger coverages are one of the best ways to make sure that your family members are covered in case of an accident and should be considered basic coverage.
You aren’t a fearmonger for wanting to protect your loved ones from the costs of an accident. Even minor accidents have been known to incur costs that have caused no small amount of personal and financial upheaval. Investing in any of the above add-ons and going beyond basic policy options is your best bet to keep everyone safe on the road and to cover their expenses if they aren’t.
