What You Gain By Having Auto Insurance
An auto insurance policy is an agreement between individuals and the insurer for automobiles. The insured person pays a certain premium as insurance and the insurance company, in turn, promises to support financial losses involving vehicles as long as the policy lasts.
Auto insurance is compulsory in most states. There are different types of benefits or coverage.
Some of the components of auto insurance are bodily injury liability, property damage liability, medical payments coverage, uninsured or underinsured motorist coverage, comprehensive coverage, and collision coverage. A typical policy features the aforementioned six benefits.
Bodily injury liability covers legal costs and personal injury claims filed against you if someone is killed or injured in your automobile and you are found to be at fault. Property damage liability deals with legal costs and other damage claims, in case there is damage to another person's property by means of your vehicle.
Medical payments coverage assists in paying medical expenses, even if the insured person is injured in somebody else's vehicle. Uninsured or underinsured motorist coverage protects against expenses incurred as a result of an accident that is caused by another individual who is either uninsured or who has inadequate insurance coverage.
With across-the-board coverage, insurance is for cars that are damaged due to theft or natural causes. The insurance is used to pay for repairs or to replace the automobile.
Collision coverage is for autos in which damage occurred to a collision with another car, object or even a person.
Car insurance policies give discounts for having more than one policy with the same insurer and for having anti-theft devices installed. Another advantage is extended coverage for others who may drive your auto.
Auto insurance is compulsory in most states. There are different types of benefits or coverage.
Some of the components of auto insurance are bodily injury liability, property damage liability, medical payments coverage, uninsured or underinsured motorist coverage, comprehensive coverage, and collision coverage. A typical policy features the aforementioned six benefits.
Bodily injury liability covers legal costs and personal injury claims filed against you if someone is killed or injured in your automobile and you are found to be at fault. Property damage liability deals with legal costs and other damage claims, in case there is damage to another person's property by means of your vehicle.
Medical payments coverage assists in paying medical expenses, even if the insured person is injured in somebody else's vehicle. Uninsured or underinsured motorist coverage protects against expenses incurred as a result of an accident that is caused by another individual who is either uninsured or who has inadequate insurance coverage.
With across-the-board coverage, insurance is for cars that are damaged due to theft or natural causes. The insurance is used to pay for repairs or to replace the automobile.
Collision coverage is for autos in which damage occurred to a collision with another car, object or even a person.
Car insurance policies give discounts for having more than one policy with the same insurer and for having anti-theft devices installed. Another advantage is extended coverage for others who may drive your auto.
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Before you buy Car Insurance, check out Nathan's tips about getting Auto Insurance For Teens.
posted by Frank Potter at 1:14 PM
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