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.
Automobile insurance is mandatory in almost every state. Several coverage options are available.
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 bills and personal injury claims filed against you if someone is killed or hurt in your auto and you are found to be in the wrong. Property damage liability deals with legal expenses and other damage claims, in case another person's property is damaged by your automobile.
Medical payment coverage assists in paying medical costs, even if the insured individual is hurt in somebody else's car. Uninsured or underinsured motorist coverage protects against costs incurred as a consequence of an accident that is triggered by another person who is either uninsured or who has inadequate insurance coverage.
With all-inclusive coverage, insurance is for autos that are damaged due to theft or natural causes. The insurance amount if paid for repair or replacement of the vehicle.
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.
Automobile insurance is mandatory in almost every state. Several coverage options are available.
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 bills and personal injury claims filed against you if someone is killed or hurt in your auto and you are found to be in the wrong. Property damage liability deals with legal expenses and other damage claims, in case another person's property is damaged by your automobile.
Medical payment coverage assists in paying medical costs, even if the insured individual is hurt in somebody else's car. Uninsured or underinsured motorist coverage protects against costs incurred as a consequence of an accident that is triggered by another person who is either uninsured or who has inadequate insurance coverage.
With all-inclusive coverage, insurance is for autos that are damaged due to theft or natural causes. The insurance amount if paid for repair or replacement of the vehicle.
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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