Getting auto insurance is obviously an essential part of driving, but what about auto insurance endorsements? Here I'll explain what they are, if they are necessary and if they are worth investing in.
What is an auto insurance endorsement?
Auto insurance endorsements, also know as riders, are extra features and coverage you can add to your existing auto insurance policy which vary from state to state. They can include emergency roadside assistance and towing services for repairs and accidents, the cost of emergency repairs, renting a vehicle while your car is being repaired if necessary and even the cost of a new vehicle if yours is damaged beyond repair. Extra endorsements unrelated to your vehicle which also come under this category include home care services, where your provider covers the costs of specified household expenses up to a certain amount, and also pet injury protection for the death or medical expenses of your pet while on a trip.
Another particularly important additional insurance endorsement is that of personal injury protection or PIP. Mandatory in some states, PIP covers medical expenses and damages (depending on the endorsement type) following an accident regardless of who is "at fault". Some PIP plans also even cover pedestrians.
Are auto insurance endorsements necessary?
As mentioned above, different endorsements are mandatory in different states. For example, PIP is mandatory in Florida, New York and Texas but not in other states. In these states such endorsements are likely to already be included in your standard policy. As long as your standard auto insurance policy meets your state's legal liability requirements, no endorsements are necessary.
Auto insurance endorsements – worth investing in?
If you are a frequent driver or have extra family members on your policy then a basic auto insurance policy may not provide you with all the support you need. For example, emergency roadside assistance for breakdowns could be very useful for a new, younger driver with less experience in such matters. Although adding endorsements to your policy will definitely increase your premium rates to some extent, it could be beneficial in the long run and give you extra peace of mind.
There are many different types of auto insurance endorsements out there which can expand your auto insurance coverage in the case of accidents, breakdowns or even other situations. Whether or not you purchase them depends on a range of factors including what state you reside in, but they are definitely worth considering.
In order to secure the best premiums for your auto insurance and any additional endorsements make sure you shop around for the best rates. Shopping around can be a lot of work, that's why at GET.com we've done the homework for you to help you save time and money on your auto insurance. Click here to find the best best auto insurance rates, or simply pick your state from the box below to compare auto insurance rates in your area!