Last week, we started a mini blog series on the nuts and bolts
of auto insurance policies. Every policy comes with mandatory
minimum coverage. Beyond the basics, extras and options are also
available. Not everyone needs expanded protection, but for some,
they may be a wise investment. Our next two posts will provide a
snapshot of what's available - for both the vehicle and its
occupants.
Flexibility and Control
For standard coverages discussed in the
Part 1 post of this series, as well as for the extras we
explain further below, policyholders have the power to exercise
choice. For example, to reduce premiums or increase protection, a
motorist may decide to opt for:
- An increased deductible: the
portion you pay first, before insurance covers the rest of the
claim's value
