Optional Santa Monica Insurance Coverages

If you are a resident of Santa Monica and you own and operate a private passenger vehicle, you are required to satisfy the financial responsibility laws set forth by the state. The state of California requires that all vehicle owners carry at least liability insurance to be financially responsible for injuries or damages they may cause. While the state only requires drivers to carry Bodily Injury coverage at a minimum of $15,000 per person/ $30,000 per accident and Property Damage coverage of $5000 per accident, drivers should be aware of the other coverages available to them. While you are not expected to know the ins and outs of insurance, you should make the effort to gain a basic understanding to ensure you are adequately protected.

Comprehensive and Collision Physical Damage Coverages

Perhaps the most recognizable coverages available are physical damage coverages. These coverages are optional that will pay to repair or replace your vehicle as stated in the policy. Comprehensive coverage will cover your vehicle against fire, theft, vandalism, hailstorm or smoke damages. The policy will pay up to the resale value of the vehicle minus the deductible you choose on the policy. Collision is designed to cover damages to your vehicle caused by an at fault or not at fault accident. If you do not carry collision and you are at fault in an accident you will have to pay out of pocket to have your vehicle repaired or replaced.

Uninsured Motorist Coverage

Another optional coverage with Santa Monica insurance is Uninsured/ Underinsured Motorist coverage. This coverage will pay for the injuries of you and your passengers if you are hit by a driver that has no insurance or little insurance to pay for injuries. This type of coverage must be excluded by signing a waiver if you elect not to carry it. While policyholders can carry limits up to those listed in the liability section of their policy, they cannot exceed liability limits.

Uninsured Motorist Property Damage

This coverage is designed to pay for damages to your vehicle if you are not at fault in an accident and the other party has no insurance. If you do not carry collision coverage, you will receive up to $3500 to repair or replace your vehicle. For those who do carry collision coverage, their deductible will be waived if an uninsured motorist is deemed at fault in the accident.

Review your Santa Monica insurance policy once a year to ensure you are adequately protected. Always quote a variety of different auto insurance packages and compare premiums to find the most comprehensive package that falls within your budget. Insurance is meant to protect yourself against financial damages. Ensure you are carrying adequate limits of liability and optional coverages for peace of mind.

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