Two Questions for Automobile Insurance?

Question

Can u guys help me to answer these questions?

These questions are about Automobile Insurance

1) How can coverage needs change as you go throughout life?

2) Utilize Insurance Terminology.

TY!!!

Answer 1

coverage needs can change if you are still paying for your car, most finance company ask that your have comp and collision on the car until it is paid for, after it is paid for then you may not need comp and collision.

Answer 2

As you accumulate assets, you need more insurance to cover your possible losses. You can be sued for your actions in an automobile which cause death or injury, and if you have valuable real estate, for example, you want enough auto liability insurance coverage to protect your house. You might even consider an "umbrella" policy to cover all your actions in or outside of your car.

As your family responsibilities grow, you could want more coverage for a teenage driver, or higher deductibles  because you have more cash in the bank to cover the first $1000 or more of a loss, which can lower your premium and get you higher coverage for your money.