Auto Insurance in Chattanooga, Cookeville, and Hixson, TN
Motor vehicles have become an integral part of daily life for millions of Americans. However, these commodities are expensive investments prone to significant risks and perils. With this in mind, even the most well-maintained vehicles operated by responsible drivers must be financially protected with appropriate auto insurance.
What Is Car Insurance?
Auto insurance, also known as car insurance, can form a financial safety net for vehicles and their owners by potentially providing funds and resources in response to accidents on the road and other vehicle-related incidents.
How Does Car Insurance Work?
A car insurance policy establishes a contractual agreement between a policyholder and their insurance company. Coverage is generally customizable and maintained through regular (e.g., monthly or annual) premium payments. In the event of an incident involving an insured motor vehicle, you can submit a claim against your auto insurance policy, which, if approved, may then provide a payout up to your coverage limits and minus your deductible.
What Does Auto Insurance Cover?
Auto insurance may consist of many coverages and features. Some of the most common components of a policy may include the following:
Bodily injury liability coverage can help pay for third parties’ medical expenses and financial losses if you are at fault for an accident.
- Property damage liability coverage can compensate other parties if you are responsible for damaging their vehicle, building or other property.
- Collision coverage may render financial aid for repairs to your vehicle following a collision with another automobile or building.
- Comprehensive coverage may financially protect your car from noncollision incidents, such as fires, crime and hail.
- Medical payments coverage, also known as MedPay, can compensate you and your passengers for health care costs following an accident regardless of who was at fault.
- Uninsured/underinsured motorist coverage may help you recoup your own losses if another party is liable but does not have sufficient insurance.
Why Do You Need Car Insurance?
Although car insurance is not legally required in Tennessee, drivers do need to show proof of financial responsibility. Generally, the easiest way to fulfill this requirement is by having adequate bodily injury and property damage coverage through an auto insurance policy. In some cases, you may also need to abide by additional obligations, such as lenders requiring collision and comprehensive coverage if you’ve financed your vehicle.
Get the Right Coverage
Builtwell Insurance Agency Inc. is well-equipped to help motorists in the Chattanooga, Cookeville, Hixson and Jasper areas assess their coverage needs and compare competitive car insurance quotes. With a history of service dating back over 100 years, our dedicated team has the knowledge and experience to ensure you have optimal coverage. Contact us today to learn more or to get a personalized auto insurance quote.