When it comes to Auto Insurance, there are many coverage options and policies available. Whether you are in search of a new policy, shopping around for a better rate, or just have questions about the many types of coverage available, we are here to help you. At Greenwald Berk Agency, we work with only the best insurance providers to ensure that you are getting a quality policy at a competitive price.
Every motorist in Pennsylvania is required to have auto insurance, whether you are located in Kingston, Wilkes-Barre, or Scranton. There are minimum requirements for each and every insurance policy, but do the basic requirements offer the coverage that you need for you and your vehicle? Let’s take a look at some of the most common components of an auto insurance policy, as well as those that are required in the state of Pennsylvania.
The first requirement is Medical Benefits coverage. Pennsylvania is one few “no-fault” states. This means that your insurance carrier will pay for medical expenses incurred by you or your passengers regardless of who is responsible for the accident. The minimum required Medical Benefits coverage that you must have in your policy is $5,000.
Pennsylvania is also one of the few states where you have the option to choose between full tort coverage and limited tort coverage. No-fault insurance is designed to decrease the number of civil lawsuits that are a result of car accidents. You can choose to select full tort coverage which allows you to sue for medical expenses as well as pain and suffering. Full tort coverage will typically result in higher premium paid. Selecting limited tort coverage will reduce your premium but will only allow you to sue for medical expenses incurred.
The second auto insurance requirement is Liability Coverage. Liability covers damages to another party and/or their vehicle if you are responsible for an accident. It the event you are sued by another individual involved in an accident, liability insurance also provides coverage to defend you from any such lawsuits. Pennsylvania requires two minimums under liability insurance:
- Bodily Injury Liability:
- $30,000 total per accident.
- $15,000 per person, per accident.
- A single limit of $35,000 is offered by some carriers which meet the requirement.
- Property Damage:
- $5,000 per accident.
While these are the minimum requirements, higher levels of coverage are also available to offer increased protection. If you have any questions about required insurance, or which tort option is right for you, our team of experts is here to answer any questions you may have.
There are also many optional coverage types available such as collision coverage, comprehensive coverage, uninsured/underinsured motorist coverage, loan/lease gap coverage, rental car coverage, and roadside assistance/towing coverage. Collision and comprehensive coverage are very common policy additions. These two forms of coverage are available to protect the investment you have made in your vehicle.
In the event you were to hit another car, an object in the road, or were to overturn your car, collision coverage will cover any damages caused up to your policy limit. Your bank or lender may require you to have some degree of collision coverage if you have financed or leased a vehicle. Keep in mind that as older vehicles lose value, collision coverage loses its value as well. It may make sense to drop collision coverage on older vehicles that have depreciated substantially.
Comprehensive coverage is available to protect your vehicle when it is damaged by something other than a collision. This particular coverage would include protection against damages caused by vandalism, fire, theft, natural disaster, and other non-collision related damage.
If you are have any questions about policy requirements or choosing a new auto insurance policy, please contact us at 570-288-7890. The Greenwald Berk Agency is committed to helping you choose an affordable policy that meets all of your coverage needs. You may use our Auto Insurance Tool to get started as well!
Greenwald Berk Agency specializes in the following insurance throughout the Kingston, Scranton, and Wilkes-Barre areas:
• Auto Insurance
• Homeowners Insurance
• Flood Insurance
• Business Insurance
• Group Health Insurance
• and more!