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Posted on 07-11-2017

Understanding the Types of Insurance When Involved in a Car Accident

Types of Insurance When Involved in a Car Accident

Advanced Spine & Rehab's discusses car insurance related to accidents.

When involved in a car accident, it is important to know more about the two major types of insurance that you or the other drive may have. Not only will this help you to better understand the type of coverage that you can expect to receive, but it will also better prepare you for the treatment process.

Liability Insurance

In most states, the minimum type of insurance coverage that all drivers must have is liability insurance. With liability insurance, the driver does not receive financial assistance if he or she causes the accident. Rather, the insurance policy is in place to ensure that others who are involved in an accident receive the financial compensation they deserve if the insured is responsible for the accident.

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With full coverage insurance, you receive financial compensation even if you were the cause of the accident. If you have a loan on your vehicle, your bank is likely to require you to carry full coverage. In this way, the bank is guaranteed to receive financial compensation if your vehicle is totally destroyed in a car accident. If your vehicle is damaged, full coverage insurance will also help to pay the cost of repairing your vehicle. The amount of money you receive to repair your vehicle will be the estimated cost of the repairs minus the deductible that you have agreed upon for your insurance policy. The higher your deductible, the lower your monthly premium payments will be.

Regardless of the type of insurance coverage that you have, the professionals at Advanced Spine & Rehab will help you receive the car accident compensation that you are entitled to receive for your medical expenses. Contact us to learn more.

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