Auto insurance is like all insurances; it protects you when accidents occur. If you own a car truck or any other type of vehicle, auto insurance protects all drivers. If an accident happens and the driver doesn't have auto insurance, this can cause financial devastation and much more. A monthly or yearly premium is paid to the insurance company that will help protect from a financial loss. How much coverage the consumer has depends on his or her plan.
There is a minimum plan that is required by all drivers, which include liability of injury, property damage, medical payments of others and collision. Depending on the state you live in the minimum coverage could vary. The premiums that are paid out will depend on the type of coverage that you have.
There are three types of car insurance that are offered.
1. Comprehensive coverage, which covers damages caused by other motorists. This could be fire, theft, and damages of ice storms, tornados, hail and floods. It also covers if your car is vandalized.
2. Collision coverage is from any accident, such as hitting another car, hitting a tree. This insurance will protect the consumer from having to pay a large bill of fixing their vehicle.
3. Liability coverage is different from the other two auto insurance coverage's mentioned. This is required by law to have this coverage. This covers other people's damages to themselves and their property that might be caused by you.
It's always best to know your information and facts when it comes to car insurance. Being knowledgeable will help you make the right decision in purchasing the proper auto insurance that will fit your needs and your budget.
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