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Auto Insurance
Take Action! Auto insurance is required in most states. You can get Major Types of

low cost insurance to meet the requirements, but you People buy Insurance: Financial
„ I know how much it will cost me to really need to look at how much coverage you need on your insurance Life – Provide for your family Literacy
repair or replace my belongings after an vehicle. If you were in an accident, how much would it to protect with needed money in case of No. 9
accident or Illness. cost you to repair your car, or pay for damages to another themselves from your death
„ I will comparison shop online for the person’s car or property, of for injury to another person? major financial
insurance that meets my needs. When buying auto insurance you need to know the different loss. When Health – Help paying for
Homeowners / Renters Insurance types of coverage: you purchase insurance, you make a hospitalization and medical
Collision: If you have an accident, this covers repairs or care after illness or accidents.
If your house burned to the ground tomorrow, payment to an insurance company in exchange Also may cover routine doctor
you’d want enough insurance coverage to replacement of your car. for its promise of protection and help in cases visits, medications, and
©2017 Learnovation®, LLC
build your exact house in the same spot. The Comprehensive: This covers loss or damage that doesn’t of specific conditions and need. You may not preventative medical care.
same is true of your possessions inside your involve a collision. need to use the insurance, but continuing to
home. Not just what you paid for it, because Property damage liability: This covers the damage that you pay it protects you from major losses if you Auto – Repair or replace your
costs and the value of property can increase. cause to another car or any other property. do. Coverage and terms vary by the type of car or pay for damages to
Replacement value is reimbursement for the Bodily injury liability: This will cover the injuries that you insurance: someone else after an accident
For Evaluation Only
loss of all your possessions. You may only get cause in an accident. or disaster. May include
the current value of the item, rather than the Uninsured/underinsured motorist coverage: You are Finding the Right Insurance roadside assistance or car
actual cost to replace the item. „ Get recommendations from friends and rental coverage Insurance
covered if the person who hits you doesn’t have insurance
Take a physical inventory of your or enough to cover your damages neighbors- look for good service and coverage Homeowners –Repair or
home. Take photographs or a video of Personal injury protection: This will pay if someone in your „ The higher the deductible the lower your replace your house and
your home, then store copies off-site. When car is injured in an accident. premium - figure out the highest amount you contents in case of an accident
you submit a claim you may have to prove could pay out of pocket, before the insurance or disaster
that you actually owned the item and its Getting a Quote kicks in, then put that in your emergency fund.
previous condition. A quote is an estimate of cost and coverage of an „ Do Your Research–use the Internet to compare Renters insurance – cover
Rider – A rider is additional insurance you insurance policy. You should get several quotes from policies, get quotes and estimates and explore your property in the building
take out specific high-cost items such as different insurance companies when looking for insurance. coverage before you talk with an agent and replace your personal
jewelry or collections. The rider attaches to Many insurance companies will give you free quotes online. contents
your regular policy and makes sure the full Use the Internet to compare insurance and find the one
value of the item would be protected. that is right for you. Money Matters

Disclaimer:
Learnovation, LLC’s mission is to empower people to 8 Nearly 43 million U.S. citizens, approximately 14.3% of our
®
©2017 Learnovation , LLC improve awareness of their own financial situation. country’s population, have no health insurance coverage.
All Rights Reserved. This information is intended to serve as a general
www.learnovation.com guide of financial principles and strategies. It is not 8 Consider the fact that just the ambulance ride to the hospital
intended to address individual financial issues, nor after an auto accident could cost $500 or more... Can you afford
should it be taken as legal, financial, or other advice.
the emergency room bill without insurance?