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 Car insurance quotes are available in a number of capacities, depending on one’s needs, the amount he or she is willing to spend, and the legal requirements of the state in which the insurance is being purchased.

The most basic insurance is bodily injury liability insurance, which is usually a required purchase of the state in which you reside.  (The only two exceptions are New Hampshire and Wisconsin, which do not require that drivers carry liability insurance as long as they can show evidence of ownership of assets in excess of $25,000)  Bodily injury liability coverage covers damage done to third parties in accidents in which the driver is at fault.  Typically these policies will include a maximum amount of payout per person injured and per accident, the latter amount usually being about twice the former.  This amount is greatly affected by the driver’s accident history; an accident for which the driver is at fault will typically negatively impact these car insurance quotes for three to five years, depending on the carrier.

Property damage is typically included in liability coverage (and is usually mandated as well), usually in amounts of approximately one-half of the bodily injury liability limit.  This is most commonly used to pay for damage to civic structures, such as telephone poles and railways, in the event of accidents.

Another common coverage is Personal Injury Protection (PIP), which covers hospital stays and in-patient care.  This is a requirement of some states.

Most drivers will carry collision insurance as well, which covers damages to the car up to its assessed value.  If the car is deemed totaled by the adjuster of your car insurance, quotes in the amount of existing liens against car (such as an auto loan balance) will be paid first, and the remaining assessed value is paid to the insured.

Some insurers will also carry additional bells and whistles such as roadside assistance.  These small items may be deceptively valuable, as the insurance company may be integrated with the services providing the assistance, making the cost of these services cheaper than one would be able to get on his or her own.

This Financial Services article was written by Mark Karavan on 10/14/2009

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