As a driver, you probably already understand the basics of car insurance policies like liability, collision, and comprehensive. However, there are many types of insurance policies that may help protect your vehicle. If you would like to know more, keep reading.

Uninsured/Underinsured Motorist Coverage

If another driver causes an accident, their insurance should cover your medical expenses and property loss. However, not everyone follows the rules of the road, and they may not have liability insurance. Naturally, you can still sue, but it may be harder to get your money.

Luckily, you can purchase uninsured motorist coverage to pay out if the other driver doesn't have insurance. Similarly, if the driver does have insurance, underinsured motorist coverage kicks in if your damages exceed their policy's max payout.

Gap Insurance

If you purchase a new vehicle, it drastically depreciates in value. Unfortunately, you still owe the same amount. Even if you're paying a $40,000 car loan, the car may drop to $30,000. For this reason, if the car gets totaled, you won't receive enough money to pay off the original loan, making it hard to afford a new vehicle.

With gap insurance, some money is set aside to fill in this gap. If the car gets totaled, or you sell the car, the gap insurance money you paid is returned.

Antique Car Insurance

Most cars on the road are newer, but many people collect classic or antique cars. These cars may be much older than most cars, but that doesn't mean they are worth less. In fact, some classic cars rise in value because of their rarity and demand. Antique car insurance is usually cheaper, but it will cover the antique car at its fully appreciated value.

Not every vehicle qualifies for antique car insurance. Your vehicle must meet many qualifications including:

• The car must be at least 25 years old to be considered antique
• It must be in excellent condition and well-maintained
• The car should not be your main source of transportation

Ride-Share Insurance

If you drive for a ride-share company, you may want to look into ride-share insurance. For the most part, while you're driving a passenger and using the app, you are considered working and protected under the company. Unfortunately, they don't provide much coverage, and they don't protect you when you aren't using the app or driving a passenger.

With ride-share insurance, you are protected when you have passengers, but you are also protected when you're waiting for a passenger, on the way to pick up a passenger, or leaving after dropping off a passenger.

If you want to fully protect your vehicles, you may want more than one auto insurance policy. With a robust collection of policies, you pay less for out-of-pocket repairs and replacements. If you would like to know more, contact a car insurance company today.