Most people are familiar with liability, collision, and comprehensive auto insurance coverage, as these are some of the most common types. Many people do not know about the other options, though. Here are some less-common types of auto insurance coverage you might need or want for your insurance plan.
SR-22 insurance is not a type of insurance protection you should get unless you are told to purchase it. SR-22 is for high-risk drivers, and you only need it when the state mandates it. If you need it, you have a limited time to purchase a plan. Failure to comply with this timeframe might result in losing your driver's license.
Non-Owner Car Insurance
Non-owner car insurance is another type of insurance that is not very common. People only purchase this type when they want auto insurance coverage but do not own a car. If you want to have the protection of auto insurance even if you do not own a car, this is the type to find. When you have non-owner coverage, you can borrow a person's car and provide your own insurance coverage. Having this coverage also helps you avoid a lapse in your coverage if you are in-between vehicles.
Guaranteed Auto Protection
Guaranteed auto protection (GAP) coverage is necessary for people with new cars. When you have a new car with a loan, you might owe more on the vehicle than the amount the vehicle is worth. If you ever owe more on a car than what it is worth, you should add GAP coverage. GAP coverage is the only protection you have if you total the vehicle. GAP pays the deficit after totaling a car, which refers to the difference between the loan balance and the car's value.
Roadside assistance is also an additional type of coverage you can add to a policy, and this is a helpful coverage to have. With it, you can receive assistance for your vehicle if you get stranded or need help. It helps if you get a flat tire, run out of gas, or lock your keys in the car.
The last type of insurance you can add is mechanical breakdown coverage. This coverage is not common at all, yet it offers a lot of protection. It covers major systems in your vehicle if they break, such as your engine and transmission.
You may need to add some of these coverage types to your plan, or you might decide that you want to add them. If you have questions about any of these options, talk to an auto insurance agent today.