Auto Insurance - Chartered Financial Services in Warren NJ Having the right auto insurance can do more than just help you comply with the laws of your state – it can help protect your financial assets. What is it? Car insurance is made up of individual coverages that protect you and your assets in different ways. Some coverages are required by state law and others may be optional. Typically, a basic policy comes with state-mandated coverages, like liability and personal injury protection (PIP). A policy that only includes state minimums may not be sufficient for everyone – especially if you have assets to protect. Plus, you may be required to have additional coverages if you lease or financed the purchase of your vehicle. In that situation, you may need to also purchase comprehensive and collision coverages. Even if your lender doesn’t require them, those coverages may still be a smart purchase. What do all these coverages mean? Insurance comes with its own language and it’s important to know what everything means. Here are a few common car insurance terms you’ll encounter. Liability insurance helps to protect you in case you’re in an accident and damage someone else’s property or injure someone. Collision insurance pays for damages to your vehicle if you’re involved in accidents in which your car hits stationary objects, like another car, a tree or a mailbox. Comprehensive coverage pays for damages to your vehicle that weren't caused by a collision. That may include things like hail, floods or theft. What coverages do I need? The answer to this question will be different for everyone. These are just some of the factors to consider when purchasing car insurance: The amount you owe on your car loan or the terms of your lease Your driving history and that of other drivers in your family The city you live in and how much you drive If you use your personal car for business or work The professionals at Chartered Financial Services in New Jersey can help you tailor an auto policy to fit your specific needs as part of a comprehensive insurance plan. We can guide you through different coverages, what level of deductible to choose and what other services may be right for you. Plus, we can help you protect your home with homeowners insurance and prepare your future with retirement planning. If you want to get an auto insurance quote from Plymoth Rock Assurance, click here. Call Chartered Financial Services in Warren New Jersey today at 800-549-6007 to learn more about auto insurance quotes and coverage or contact us if you have any additional questions.