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Auto Insurance 101

If you own and drive a car, you are required to have an auto insurance policy. However, there are many situations in which you may be able to skip out on car insurance. Keep these situations in mind to help you decide if you need to invest in an auto insurance policy.

  • If you do not own a car – if you do not have a car, you may not need car insurance. However, if you have a driver’s license and still drive a family member’s car, you still need auto insurance coverage. Your auto insurance policy should include liability coverage and medical payments coverage to pay for any medical bills that are incurred during an accident.
  • If you lease a car – if you are leasing a car, you need full coverage under your auto insurance. Since you do not technically own the vehicle, you have the responsibility to protect it while you are driving it. You may also have to invest in gap insurance to cover the gap for the cost of the value of the car and what you have paid.
  • If your car broke down – if your car is in the shop after a break down, you still need to keep up with your auto insurance premiums. If you let your auto insurance policy lapse, you may have a much harder time renewing your policy or getting a new policy once your car is out of the shop.

For all of your auto insurance coverage needs, contact the insurance professionals at The Schwab Agency in Colleyville, Texas. As an independent insurance agency, we will work with you to ensure that you have the auto insurance protection that you deserve, all at the right price to fit in your budget.

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