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When you finance a new or used car, you have many options available for coverage, such as liability insurance. But what is it, and how does it benefit you? The experts at Indy Car Finance are here to teach you about liability coverage, and help you find the right financing near Speedway and Indianapolis when you’re ready for that next big purchase.
What is Liability Insurance?
Liability insurance fulfills a minimum insurance requirement in many states, protecting motorists from financial loss in the event of an accident where another party is at fault. Liability insurance typically consists of two separate components: property damage and bodily injury protection.
Property damage protection covers the cost of repairs to the other party’s car or property up to the limits of the policy. This can include the cost of vehicle repairs or replacement, replacement or repair of objects involved in the collision such as light poles and guard rails, as well as damage to structures such as businesses and homes.
Bodily injury protection covers emergency aid at the scene of the accident, the injured party’s medical expenses, possible compensation for lost income, legal fees, and the cost of funeral expenses should a death occur as the result of an accident where you are found to be at fault.
In the event that any of these expenses exceed the amount of your policy, you will be responsible for making up the difference out of pocket.
Planning on Getting a New Car? Let Indy Car Help
Once you understand the complexities of liability insurance, come see the credit counselors at Indy Car Financing and learn about the options available to help you finance your next new or used car purchase. Regardless of your current credit situation, we have a loan product that will work for you.
Find the Financing You Need with Indy Car Financing Today
To learn about the liability car insurance options available to you, stop by Speedway Chevrolet at 5252 W 38th St in Indianapolis or contact Indy Car Financing at (855) 468-6215. We’ll be happy to lead you through the process from start to finish and help you find the financing you need in Speedway and Indianapolis.