Important News April 2006 Why do I need car insurance? Insurance laws vary from state to state, but all states require some type of insurance or proof of financial responsibility. Even though it may seem like an “extra” cost, car insurance protects you, your family and your vehicle if you’re ever in an accident or if your vehicle is damaged. Several factors, including your driving record and insurance history, affect the type of insurance policy available to you. If you have a clean driving record and have been insured in the past, you’ll most likely qualify for standard auto insurance. Generally, if you haven’t had insurance, or have a less-than-perfect driving record, you can still qualify for auto insurance. This type of insurance is known as specialty insurance. Your auto policy may include six coverages, each priced separately: Bodily Injury Liability applies to injuries that you, the designated driver or policyholder, cause to someone else. It’s very important to have enough liability insurance because if you’re involved in a serious accident, you may be sued for a large sum of money. Definitely consider buying more than the state-required minimum to protect assets, such as your home and savings. Medical Payments or Personal Injury Protection (PIP) pays for the treatment of injuries to the driver and passengers of the policyholder’s car. At its broadest, PIP can cover medical payments, lost wages and the cost of replacing services normally performed by someone injured in an auto accident. Property Damage Liability pays for damage you (or someone driving the car with your permission) may cause to someone else’s property. Collision pays for damage to your car resulting from a collision with another car or object. Comprehensive reimburses you for loss due to theft or damage caused by something other than a collision with another car or object. Uninsured and Underinsured Motorist reimburses you if you’re hit by an uninsured or underinsured driver, or a hit-and-run driver. This coverage will also protect you if you’re hit as a pedestrian. To learn more about car insurance, contact Griffin-Owens & Associates at 703-471-0050 or go online at www.nationwide.com. Nationwide, based in Columbus, Ohio, is one of the largest diversified insurance and financial services organizations in the world, with more than $157 billion in assets. Nationwide ranks #99 on the Fortune 100 list. The company provides a full range of insurance and financial services, including auto, homeowners, life, health, commercial insurance, administrative services, annuities, mutual funds, pensions and long-term savings plans. For more information, visit www.nationwide.com. Nationwide and the Nationwide Framework are federally registered service marks of Nationwide Mutual Insurance Company. On Your Side is a service mark of Nationwide Mutual Insurance Company.
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