Autos Insurance

Auto insurance is a contract between you and the insurance company that protects. You against financial loss in the event of an accident. Or theft. Simply put, auto insurance is a safety net. It is a auto insurance contract that you have with an insurance company. In which you agree to pay a premium, and in the event of an accident. The company agrees to pay for your covered damages, as outlined in your specific auto insurance policy. In exchange for your paying a premium. The auto insurance company agrees to pay your losses as outlined in your policy.

Auto insurance provides coverage

  • Property – such as damage to or theft of your car
  • Liability – your legal responsibility to others for bodily injury or property damage
  • Medical – the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.

Type of Auto Insurance Coverage

Generally, auto policies include several different types of coverage, all of which may be price differently. For instance, insurance may cover:

  • Property Damage Liability. If you are responsible for causing an accident, you are legally responsible for repairs to another person’s vehicle or property. Property damage coverage not only covers the cost to repair the other person’s car. But it also covers repair costs of anything you hit with your vehicle, such as a street lamp, fence or building. This type of coverage is require in most states.
  • Collision. This type of auto insurance coverage pays for damage to your car as the result of a collision with another vehicle. Even if you are at fault for causing an accident, this type of coverage will reimburse you for the cost of fixing. Your car once you have paid the out-of-pocket deductible amount. If you are not at fault, your insurance company can seek reimbursement from another driver to cover. The cost of repairs to your vehicle. Collision coverage is optional in all states. However. If your automobile is finance, your bank or lending institution will require you to have this coverage.

Auto Insurance Coverage

  • Uninsured and Underinsured Motorist Coverage. This policy protects you and other passengers in your automobile if you are injure in an accident. A motorist who is uninsure and held legally responsible for your injuries. It pays the medical expenses and related expenses you have incurred up to the coverage limits you select.
  • Bodily Injury Liability. This type of auto insurance coverage pays for medical bills, lost wages or income, pain and suffering. And even funeral expenses for those injured in an accident where you were legally responsible for their injuries. This coverage also pays for the legal and court costs to defend you in a covere lawsuit. This type of coverage is require in most states.
  • Comprehensive. This coverage protects you for losses due to hazards not caused by a collision with another vehicle. This includes damages that are the result of theft, vandalism, fires, falling objects, earthquakes and storms. Or contact with animals, such as deer. Comprehensive coverage is optional in all states. Though, like Collision coverage, if your vehicle is finance. Your bank or lending institution will require you to have this coverage.

Understanding Your Auto Insurance

Auto insurance in the case easiest thing to comprehend. You may feel like you need a PhD, the Rosetta Stone. And Sherlock Holmes to de-code all of the language about your car insurance, from Comprehensive coverage to Collision and other types.

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