The Advantage of Having Car Insurance
submitted: Sep 3rd 2008 |
by: NathanBlock |
Total views: 1 |
Word Count: 263 |
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An automobile policy is a contract between an individual and the car insurer. The insurer makes payments and the insurance company, in turn, pays for any losses incurred while the policy lasts.
Car insurance is required in most states. A number of types of coverage is 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 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 mainly for vehicles in which damage occurred due to collision with other vehicles, objects, or even persons.
Auto insurance policies allow premium discounts for theft devices or for owning more than one policy with the same insurer. An added advantage is the provision for extending coverage to others driving your car with your permission.
About the Author
Before you purchase Auto Insurance, check out what Nathan Block has to say about getting Car Insurance for Teens.
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