Car insurance safeguards you against any financial loss that might happen because of an accident or theft of your car. It's a car insurance company that issues car insurance to you. A car insurance company will work up a car insurance policy for you after evaluating the numerous options such as the make of your car, the premium that you are able to pay, your insurance risk, etc. An annual premium has to be paid by you to the car insurance company to ensure that the company can pay for your loses that you may bear in the future. All the terms and conditions are mentioned in the contract and it is your responsibility as a car owner to look over all of the points and ask the insurance agent any queries that you are considering. It is only after all of the terms and conditions are clear to you that you should sign on the dotted line and pay the premium.
Normally all car insurance companies have the same insurance policies. The premium to be paid and the percentage of losses to be covered in case of any accident might differ slightly. Since the automobile insurance market is very competitive, the premium rates along with other terms and conditions almost remain the same.
A car insurance policy may provide property, liability and coverage depending on the kind of policy. The property coverage covers losses for damage of the car or the theft of the car. Liability coverage pays for any legal liabilities to other people for physical harm or property damage. And medical coverage covers expenses for treating injuries, medicine costs and funeral expenses in case of a vehicle accident. You may buy the various kinds of coverage based on how much you would like to spend on your policy.
A car insurance policy generally consists of 6 kinds of coverage. As mentioned before a client can select from the different types of coverage. The majority of the car policies last from six months to a year. Your automobile insurance company will bill you when it's time to renew your policy and be prepared for a rate increase.
The various kinds of coverage are :-
1) Bodily Injury Liability
This type of liability covers the expenses of injuries that you may cause to someone else whilst driving your automobile. Also the coverage consists of injuries brought on to a person whilst driving other person's car.
2) Medical Payments and Personal Injury Protection
This type of liability insures the expenses for the treatment of injuries to drivers and other passengers. The liability likewise covers medical expenses and funeral expenses in the case of demise.
3) Property Damage Liability
This type of liability covers for damage to the other person's automobile and your car. It may also include damage to lamp posts, telephone poles, fences and other public property.
4) Collision
This kind of liability covers expenses for damage to your automobile or the other person's car. Even if you're at fault, then also you will be reimbursed for the expenses of repairing the automobile.
5) Comprehensive
This liability covers loses due to theft or damage to the car by some thing apart from collision with another object or damage to the automobile because of fire, falling objects, explosion, earthquake, etc.
6) Uninsured and Underinsured Motorist Coverage
This liability covers damages to your car by another driver who's not insured.
The coverages mentioned above are provided by all car insurance companies. In nearly all states, car insurance is obligatory. Therefore, it is your responsibility as a car driver to have a policy.
Normally all car insurance companies have the same insurance policies. The premium to be paid and the percentage of losses to be covered in case of any accident might differ slightly. Since the automobile insurance market is very competitive, the premium rates along with other terms and conditions almost remain the same.
A car insurance policy may provide property, liability and coverage depending on the kind of policy. The property coverage covers losses for damage of the car or the theft of the car. Liability coverage pays for any legal liabilities to other people for physical harm or property damage. And medical coverage covers expenses for treating injuries, medicine costs and funeral expenses in case of a vehicle accident. You may buy the various kinds of coverage based on how much you would like to spend on your policy.
A car insurance policy generally consists of 6 kinds of coverage. As mentioned before a client can select from the different types of coverage. The majority of the car policies last from six months to a year. Your automobile insurance company will bill you when it's time to renew your policy and be prepared for a rate increase.
The various kinds of coverage are :-
1) Bodily Injury Liability
This type of liability covers the expenses of injuries that you may cause to someone else whilst driving your automobile. Also the coverage consists of injuries brought on to a person whilst driving other person's car.
2) Medical Payments and Personal Injury Protection
This type of liability insures the expenses for the treatment of injuries to drivers and other passengers. The liability likewise covers medical expenses and funeral expenses in the case of demise.
3) Property Damage Liability
This type of liability covers for damage to the other person's automobile and your car. It may also include damage to lamp posts, telephone poles, fences and other public property.
4) Collision
This kind of liability covers expenses for damage to your automobile or the other person's car. Even if you're at fault, then also you will be reimbursed for the expenses of repairing the automobile.
5) Comprehensive
This liability covers loses due to theft or damage to the car by some thing apart from collision with another object or damage to the automobile because of fire, falling objects, explosion, earthquake, etc.
6) Uninsured and Underinsured Motorist Coverage
This liability covers damages to your car by another driver who's not insured.
The coverages mentioned above are provided by all car insurance companies. In nearly all states, car insurance is obligatory. Therefore, it is your responsibility as a car driver to have a policy.
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