America’s love affair with the automobile is over a century old. For most Americans it’s not simply a mode of transportation. It is a purchase of self-expression, and often a status symbol. But the romance can come to a screeching halt when trying to insure it properly with a personal automobile policy. The terms and conditions of any auto policy can vary from company to company and from state to state. Liability insurance: This coverage protects the owner against losses from legal liability arising from bodily injury or property damage caused by an automobile accident. The coverage can be a single limit ($100,000 for each accident) or split limits such as $50,000 / $100,000 / $25,000 (per person / per accident for bodily injury / property damage). Medical payments coverage: This provision pays medical or funeral expenses because of bodily injury. The coverage is generally in increments of $1,000 to $5,000 up to $25,000 per person per accident. Physical damage coverage: This section of the policy is designed to cover physical damage to the insured auto. Collision covers, as the name implies, collision losses. Comprehensive (also known as other-than-collision) insurance covers losses from non-collision incidents; such as theft, fire, or   Read more…