The Meaning of Auto Insurance
Auto insurance offers coverage to the consumers through covering or bearing risks and also agreeing to pay in the event of any financial losses as result of these risks.
The monthly premium means how much you pay a month as a policy holder of the company.
There are a good number of auto insurance companies out there in which their work is to provide insurance cover for automobile users.
There are also companies who are auto insurance brokers.
They do not provide any insurance cover or service, but they can help you get a better insurance.
Auto insurance is compulsory in many states.
It obtainable for personal and commercial vehicles, and there are different levels of cover available.
Auto insurance is made up of two main coverage areas namely, liability and property damage.
Liability Damage Auto liability insurance policies are made up of three main parts namely liability insurance meant for injury on the body, property damage as well as motorist's coverage which could be uninsured or under-insured.
Bodily injury liability insurance covers you when another person who got injured in an accident you were the one at fault file claims.
Some states demands that you to carry at least $25,000 for each person involved in bodily injury and up to $50,000 being for all the persons injured in a particular accident.
Claims meant for bodily injury possibly will include medical expenses, wages that were lost, sufferings as well as pain.
Property damage liability insurance covers for any other people's property you damage.
It involves vehicle damage cause by you as well as other property like fences, walls, equipment and so on.
The least limit in some state is about $25,000, being for all the property damage in a particular accident.
Uninsured motorists coverage covers directly the policy holder.
This protection pays when you got injured by a hit-and-run driver or driver who has no auto insurance.
Property Damage Property damage coverage possibly will include both collision coverage and comprehensive coverage.
Collision coverage pays for physical damage to your car due to your vehicle colliding with another thing, which could be a building, car or a tree.
This type of protection neither compulsory nor is it mandated by law.
But, collision insurance may be demanded by the lesser or lending institution.
When an accident occur involving an older car, cost of putting the car in order can quickly exceed the worth of the car.
When this happens, the insurance company will pay you the total worth of the car instead repairing the car.
In comprehensive coverage if your vehicle got damaged, your insurer will pay you for damage to your vehicle from nearly all other causes, which could be fire, floods, vandalism, theft, falling objects and collisions with animals.
Comprehensive coverage also includes protection over broken glass, like damage of windshield, and the deductible is not involved in this type.
Law does not require you to carry comprehensive coverage.
You are not required by law to carry comprehensive coverage.
The monthly premium means how much you pay a month as a policy holder of the company.
There are a good number of auto insurance companies out there in which their work is to provide insurance cover for automobile users.
There are also companies who are auto insurance brokers.
They do not provide any insurance cover or service, but they can help you get a better insurance.
Auto insurance is compulsory in many states.
It obtainable for personal and commercial vehicles, and there are different levels of cover available.
Auto insurance is made up of two main coverage areas namely, liability and property damage.
Liability Damage Auto liability insurance policies are made up of three main parts namely liability insurance meant for injury on the body, property damage as well as motorist's coverage which could be uninsured or under-insured.
Bodily injury liability insurance covers you when another person who got injured in an accident you were the one at fault file claims.
Some states demands that you to carry at least $25,000 for each person involved in bodily injury and up to $50,000 being for all the persons injured in a particular accident.
Claims meant for bodily injury possibly will include medical expenses, wages that were lost, sufferings as well as pain.
Property damage liability insurance covers for any other people's property you damage.
It involves vehicle damage cause by you as well as other property like fences, walls, equipment and so on.
The least limit in some state is about $25,000, being for all the property damage in a particular accident.
Uninsured motorists coverage covers directly the policy holder.
This protection pays when you got injured by a hit-and-run driver or driver who has no auto insurance.
Property Damage Property damage coverage possibly will include both collision coverage and comprehensive coverage.
Collision coverage pays for physical damage to your car due to your vehicle colliding with another thing, which could be a building, car or a tree.
This type of protection neither compulsory nor is it mandated by law.
But, collision insurance may be demanded by the lesser or lending institution.
When an accident occur involving an older car, cost of putting the car in order can quickly exceed the worth of the car.
When this happens, the insurance company will pay you the total worth of the car instead repairing the car.
In comprehensive coverage if your vehicle got damaged, your insurer will pay you for damage to your vehicle from nearly all other causes, which could be fire, floods, vandalism, theft, falling objects and collisions with animals.
Comprehensive coverage also includes protection over broken glass, like damage of windshield, and the deductible is not involved in this type.
Law does not require you to carry comprehensive coverage.
You are not required by law to carry comprehensive coverage.
