Auto Insurance 101. What am I buying?

Auto Insurance policies are broken down into the following coverage areas:Bodily Injury - covers injury to others you are liable for. Property Damage - damage to property of others Medical Payments - covers medical expenses for injury to you and anyone in your vehicle, regardless of fault. Uninsured/Underinsured Motorist Bodily Injury - covers injury to you and everyone in your vehicle caused by someone not insured or someone that does not carry adequate coverage limits. Comprehensive/Other than Collision - covers the vehicle for losses other than collision, upset, overturn, or hit-and-run, i.e., fire, theft of vehicle, vandalism, crime coverage, falling objects, glass breakage, water damage. Collision - collision, upset, overturn, hit-and-run. Towing and Labor - towing due to breakdown and labor for jump starts, or tire changes. Rental Reimbursement - Extended transportation-provides coverage for a rental vehicle if your vehicle cannot be drive due to a covered loss. Mechanical breakdown is not covered. Gap Coverage - Gap insurance will insure one for the difference between what one would owe on a vehicle and what an insurance company says it's worth. This insurance is a must for someone who is considering purchasing a new vehicle since a new vehicle depreciates right after it is driven off the dealer's lot.