Posts tagged ‘car’

I am buying a used car that is worth only a few hundred dollars. Do I need to insure it?

A standard auto insurance policy is a package of different kinds of coverage. You generally have some flexibility in terms of both the types and amounts of coverage you select. However, practically every state has enacted insurance laws that require drivers to carry at least some auto insurance. Many states even require that you present proof of insurance before you register a car. So the short answer to the question is that you will need to insure your car, regardless of its value.

May 29, 2009 at 4:12 pm

If someone borrows my car, are they covered under my auto insurance?

As a general rule, auto insurance coverage actually follows the vehicle, not the driver. So if your car is involved in an accident, the car typically receives the full coverage provided by the auto insurance policy, regardless of who is driving.

Grange Insurance

May 28, 2009 at 5:06 pm

What is gap insurance and do I need it?

Whether you lease or finance your car, gap insurance can provide valuable protection during the early years of your car’s life. As we all know, a new car’s value drops the minute you drive it off the lot. And unfortunately, if your car is totaled five minutes after you buy it, your insurance generally only covers the actual cash value of the car. So, there’s a good chance the insurance check isn’t enough to pay off your outstanding lease or loan balance, unless your insurance company offers Guaranteed Replacement coverage.

May 28, 2009 at 4:33 pm


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