Vehicle insurance comes with the purchase of any kind of vehicles for use against any liabilities that may be incurred during car accidents. Although the type of insurance policies varies in different countries, most jurisdictions require vehicle owners to have insurance to protect them and help them repair their car without having to compensate too much of a cost.
The cost of your car insurance is wholly dependant on what you want covered and what you can afford. Some of the most common US auto insurances are as listed:
Liability coverage ­- 3 types of liability coverage include property damage liability, bodily injury liability, and uninsured/underinsured motorist coverage. Property damage liability covers the reparation of other people’s property should you be held liable for the damage. Bodily injury liability covers the victim’s injuries, or even death. And uninsured/underinsured coverage is put to use if only the other party who caused the accident is not entitled to any car insurance.
Collision – covers any damage that is inflicted upon your own car, if you are held accountable.
Comprehensive – covers any losses caused by incidents they call “act of God”, like natural disasters, fire, vandalism, theft, animal contact, and so on.
Medical coverage – covers medical cost for both parties.
Loss of use coverage/rental coverage – this coverage compensates rental expenses when your rented vehicle is in the shop for repairs, normally for only $15 a day.
Fully Comprehensive – the most expensive auto insurance that protects you from all manner of liabilities or losses.
Specialized car insurance – any car over 25 years is granted specialized car insurance. This insurance has all the advantages of a fully comprehensive insurance, except that these classic cars are being limited in terms of mileage in any given year. Read the rest of this entry »