Auto Insurance Riders You Should Consider Having
Many insurance companies provide their clients with the option of purchasing additional coverage along with the standard coverage offered by the policy. Such an additional coverage goes by different names such as a rider, add-on, or endorsement, among others. Below are some auto insurance riders that may be worth purchasing.
If you drive a leased car or you financed your car purchase, then there might come a time when you owe more on the car than its value. That is a dangerous position to be in as far as insurance coverage is concerned. This is because if the car is totaled in an accident, the insurance company will only pay you the value of the car. You will have to meet the shortfall out of your pocket to pay the leasing company or the financier. However, your car insurance company will pick up the entire tab if you have gap insurance.
If you have roadside assistance coverage, then your insurance carrier is obligated to come to your rescue if your car breaks down on the road. The insurance company will pay to have the car fixed on location or towed to the nearest repair facility. Consider this rider if you often drive long distances, drive with children, or drive off-road.
Modified Car Coverage
Standard car insurance only applies to stock cars or cars in their original conditions. Minor modifications might not present much of an issue, but you risk invalidating your coverage if you modify your car heavily. This is because auto modifications can increase the value of the car, as well as its risk on the road. Car insurance companies typically offer modified car insurance for those who want to modify their cars. With the coverage, your car insurance company will compensate your car losses even if they involved the modified parts.
If you have a pet, then you should know that many auto insurance companies treat pets just like other personal property. That means you might not get full compensation for your pet if the animal is injured in an auto accident. You can get full compensation for your pet if you buy a pet insurance rider.
Miscellaneous Vehicles Coverage
Personal car insurance typically covers standard cars such as SUVs, sports cars, sedans, and convertibles. Miscellaneous vehicle coverage extends your coverage to nonstandard automobiles you may own. Examples of such automobiles include your scooter, ATV, and even golf cart, depending on your policy.
For more information, contact a local auto insurance provider.