Monday, 9 July 2012

Cheap PLPD Auto Insurance

You may have heard that you need PLPD insurance to legally drive your car. For many drivers, this can be a confusing term - most people do not really know what PLPD auto insurance is, or how it protects them if they are involved in an accident. Fortunately, PLPD insurance is a fairly simple concept.

At its most basic level, PLPD insurance is simply liability coverage that pays for another driver's medical bills and property damage if you cause an accident. Other than protecting you against being sued for these costs, it does not provide any benefits for you. It will not pay for medical bills for you or your passengers, and it will not pay for the repair or replacement of your vehicle.

If you are looking to pay the least amount possible for your car insurance, you will find that many agents will provide you with PLPD auto insurance quotes. Typically, this consists of only liability coverages at the state required minimum limits. Although this may be enough to satisfy your state's insurance requirements, it may not provide enough coverage to adequately protect you in the event of an accident. You should discuss your financial situation with your agent to determine if you need additional coverages or limits.

In some states, such as Michigan, PLPD insurance has taken on a slightly different meaning in recent decades. Michigan is now a no-fault state, and requires drivers to carry personal injury protection coverages in addition to liability coverages. In this state, when people talk about PLPD auto insurance, they are really talking about an auto insurance package that satisfies Michigan's auto insurance requirements, including personal injury protection.

PLPD insurance might meet your needs if you have few assets, and a low exposure to financial loss. If you own a home, drive a newer car, or have savings or investments to protect, PLPD auto insurance might not offer sufficient coverage. You may want to look at increasing your liability limits, and purchasing comprehensive and collision coverage, to ensure that you will not experience financial disaster if you are involved in an auto accident.

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