There are different types of car insurance policies available to Kia Soul owners. When you purchase a policy, you can choose between full coverage auto insurance and the minimum liability coverage required by state law.
This choice is important. The cost of these policies can vary dramatically, but the coverage offered is also very different. You could be at risk of paying for an accident out of pocket without full coverage insurance, which includes liability, comprehensive, and collision insurance. This is different from the minimum coverage required by state law.
Whether or not you obtain full coverage is not the only factor that impacts what your insurance will cost. There are other factors that impact the cost of these policies outside of the amount of coverage offered.
When you select full coverage car insurance, you do so to protect yourself financially in case of an accident. Full coverage car insurance is a combination of liability, comprehensive, and collision coverage.
Liability insurance is the most basic type of insurance coverage available. It covers the damage claims by third parties in situations where you are liable for the accident. This type of policy will not cover your own losses.
Collision insurance provides you with coverage when you are involved in any kind of collision. This could include a collision with another car, a commercial vehicle, or even a fixed object like a wall.
Comprehensive coverage is designed to pay for your losses when your vehicle is damaged outside of a collision. This can happen due to things like vandalism or weather damage.
State Minimum Liability
Each state requires drivers to prove that they have financial responsibility in the case of an accident. This is necessary to ensure that motorists are not left paying for an accident they did not cause.
In general, states require a minimum level of liability auto insurance in three ways: bodily injury damages per person, bodily injury damages per accident, and property damages per accident.
Each state has its own approach to these insurance minimums. For example, Texas has a minimum insurance requirement of $30,000 for bodily injuries per person, $60,000 for bodily injuries per accident, and at least $25,000 for property damages.