insurance type?

Question

I am going to buy a car with federal or bank credit? And I have a question. What kind of insurance should I buy? For Example: In Progressive; there are 4 different types of insurance. These are basic, economy, recommended, and plus.

Thank u for ur cooperation

have a nice day

Answer 1

There is no stead fast rule on what type of insurance you should have. Depending on the agreement that you have with the loan place you may need to carry physical damage coverage. There is also something known as GAAP insurance that could benefit you if you are negative on your loan - you owe more that the vehicle is worth in case of a total loss. This insurance will pay the remaining balance of your car note. Ask your agent if this is available. Also consider the deductible - how much you can afford to pay out of pocket if you do get into an accident. the higher the deductible, the less premium you will pay. While a local agent is not needed, if you are asking questions like these, you may want to have one to help explain things to you instead of using a Direct company like the one you mentioned.

Answer 2

I'm sure the Progressive website either has a chart or some other page outlining the coverages available under each plan, or you can speak to one of their agents and have them explain it to you. However, seeing as how you are borrowing money to purchase the vehicle, it is no longer what you want but what the lienholder wants the vehicle to be covered for, and all lienholders want both Collision and Comprehensive coverage for the vehicle, as they will want to protect their interest. First step, therefore, is to confirm this with the lending institution, second step is to select the policy which will satisfy everyone who has an interest's requirements.

Answer 3

Discuss this with the agent, the only prudent thing you can do. Follow their recommendations. They will know your needs much better than any one else. Buy the full package.

I have never heard a person say after an accident I had too much insurance.

Answer 4

Labels, like "economy, recommended" are NOT standardized insurance terms. They mean different things to different people.

You need to sit down with a local agent to evaluate your needs, and get multiple quotes, so you can see what fits your needs and budget best.

Answer 5

properly there are a number of varieties of coverage yet i'll record who insures the somewhat some maximum uniqe products..... varieties: total existence term existence prevalent existence Variable prevalent existence Variable existence Graded top class total existence Adjustable total existence present day Assumption total existence (CAWL) family members earnings family members upkeep family members dissimilar or Double protection Joint sources casualtie Franchise Fraternal commercial sources owners Now the unique Stuff: maximum of those are insured by skill of Loyds of London: J-Lo's butt NFL soccer gamers Actressess Legs Circus coverage, and a lot greater!!!!

Answer 6

As with any new car purchase, you should always have full coverage on your vehicle, especially if it is new. Talk to an agent to see which coverage will give you the best rate with the full coverage you need.

Answer 7

Go talk to an agent