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How Auto Insurance Works - No Fault States

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This video breaks down how auto insurance works. We’ll explain every part of your coverage in a simple, easy to understand way.

The way auto insurance works is based on the state you live in. There are two options: AT FAULTS STATES & NO FAULT STATES.

Here’s a video that breaks that down: https://www.youtube.com/watch?v=K5uZ8D0ZIrg

This video explains how NO FAULT STATES work.

Here’s the details:
Your auto insurance policy should cover:

PIP (Personal Injury Protection) 2:20
Coverage for you, your family, and your passengers’ injuries. Can cover medical expenses, lost wages, pain & suffering, etc. no matter who’s fault the accident is

COLLISION (3:56)
Coverage for damage to your vehicle. Usually has a deductible.

OTHER THAN COLLISION (5:47)
This covers damage to your car that is not the result of a traditional car accident. Tree limbs falling, garage fires, and impact with an animal fit this category. Usually has a deductible.

BODILY INJURY LIABILITY (7:23)
Liability Coverage is still an important part of your auto policy. Why? Well, you travel around in a huge metal bullet just inches from strangers. Make contact and you’re their worst enemy. Hurting other people’s bodies is much more likely in your car than your house and that’s why auto liability coverage is required by law. In no fault states it is less important, but it’s still necessary. In the worst-case scenarios, the at fault driver can still be sued because of an accident.

PROPERTY DAMAGE LIABILITY (9:18)
Again, in no fault states this coverage is less important but there are scenarios where your policy would have to pay for damage to someone else’s property (car, home, etc)

UN/UNDERINSURED MOTORIST COVERAGE (12:30)
Some people break the law. Others just carry to lowest possible liability limits required by law. So when those people run into you, it’s a bummer. Fortunately, your Un/Underinsured motorist coverage is there to protect you.

RENTAL REIMBURSEMENT(16:03)
Coverage for a rental while your car is being fixed. This only applies if the damage to your car is from a covered accident.

ROADSIDE ASSISTANCE (16:45)
More and more companies are offering this service as a part of your auto insurance policy

There you have it!

Find the entire course at: http://yt.vu/p/PL425CAnBWQyR7jTxJzNJ1tJjG

Join the Facebook Group Here: https://www.facebook.com/groups/952960158110839/

Learn more about us at:
Our Site - www.shineinsurance.com
Our Blog - www.shineinsure.com/blog
Our Podcast - www.scratchentrepreneur.com
Our Course - www.makeinsurancesimple.com

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50 Comments

    Popular Comments:

Scope Insurance Brokerage . 2019-10-14
GREAT VIDEO, LEARNED A LOT .THANK YOU
121 2 . Reply
Michael Ko . 2019-08-30
Great video, now I know the differences between bodily and pip
121 2 . Reply
Gillur Dewan . 2019-08-15
Simply great videos.
121 2 . Reply
Auto Insurance Channel . 2019-08-05
Good information and very helpful. Thanks a bunch
121 2 . Reply
dbltrplx . 2019-05-17
Michigan has the highest insurance rates on earth
121 2 . Reply
sandra joseph . 2019-05-07
I wish this video was available 22yrs ago when I began working as a No-Fault Examiner!! This is by far the most simplified explanation of what No-Fault entails. I can say, the refreshment course was greatly appreciated 😉
121 2 . Reply
ElloBoppit . 2019-04-26
These are super helpful videos, insurance in these situations are enigmatic, and you help explain many of the terms used by the insurance agencies.
121 2 . Reply
Adrian Ford . 2019-04-02
7:23 THANK YOU SO MUCH THIS IS JUST WHAT I NEEDED TO HEAR
121 2 . Reply
The Southernmost Sun . 2019-03-13
i used this as study material for work, thanks, now i might not get fired
121 2 . Reply
Silvia Amorim . 2018-11-24
Help me please . No fault 3 claims , nobody help me I can’t drive a car that people destroy. State Farm kicking off a car that I don’t even drive . The car is in GA I live in FL!
121 2 . Reply
Savithiri Mani . 2018-08-30
121 2 . Reply
Reinaldo Artiles . 2017-11-27
Great video. Simple to follow and easy to understand.
121 2 . Reply
kenia gonzalez . 2017-10-31
im taking p&c text this video is really helpful ...Thank you !
121 2 . Reply