Explaining The Different Kinds Of Auto Insurance
An agreement between an indemnity company and an insured regarding covering the automobile of the insured is called auto insurance
. The role of the owner of the auto mobile is to pay premiums periodically. The indemnity company in turn promises to support the owner in case the vehicle gets an accident. After the expiry of the policy, another one is signed. Different insurance companies have different cover schemes. In French, assurance auto means auto insurance.The policy covers against injuries that one may get, damage caused, support for the medical bills, motorist coverage and even collision coverage. When you have bodily harm, you get the legal costs covered. This is if someone else has filed a case against you. Property coverage is when you are sued by another person for causing damage to their property by the accident you had.
Medical expenses are catered for even if you are injured and the accident happened in a car that was not yours. There is also another coverage that is called uninsured or under insured. In this type of cover, you are protected against vehicles that were not insured or were under insured.
Those who opt for the comprehensive cover are covered against any damage, theft or even natural calamities that may affect the vehicle. The amount paid by a indemnity company is for these repairs or complete replacement of the vehicle. You can get a new vehicle if the one you had is regarded to as salvage. Collision coverage is for vehicles that collide with the others. Not necessarily other vehicles but could also be persons or even objects.
If your vehicle has theft devices that allow you to track your car in case it is stolen, then you can get discounts on the premiums. You can also get discounts if you have more than one insurance policy with that same company.
There are different types of auto cover policies. Liability cover is one of them. This is the minimum and it requires that if you are in an accident and it is concluded that you are at fault, then you have no choice other than the indemnity company to pay for the damages and any injuries resulting from the accident. If you can afford to pay for a higher type of cover then it is better as you will be comfortably covered. In this cover you will end up paying for your own vehicle repairs.
The second type of cover is collision cover. This ensures that the company you have insured at repairs your vehicle. If it ends being declared salvage, then it will be paid its value. The value paid is usually that one that it was worth just before the accident occurred. This insurance is much better for the cars that are expensive. If you have an old car, you will end up paying more amount of money in premiums.
The third category is comprehensive. While the collision and the liability cover the accidents, comprehensive usually cover almost everything. It covers animal collision, weather and theft damages. This is the most comprehensive insurance cover.
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