subject: What Do Liability And Collision Insurance Have To Do With Car Insurance? [print this page] What Do Liability And Collision Insurance Have To Do With Car Insurance?
Even though you know that it is against the law, you still continue to drive around without a proper car insurance.You should not be doing that as car insurance is very important to all drivers, regardless of their skill. It is best to be protected in case there are any accidents.However, car insurance policies have different types of concepts and can cause confusion among drivers.
Liability car insurance is the first concept you have to learn.You are covered from any claims that involve physical or property damage due to accidents.There are in general three core parts of any liability car insurance policy. They involve physical injuries liability coverage, damage to property coverage as well as uninsured coverage.
The first one covers you in the event of an accident that was caused by you and also injured other people.Any legitimate claims made for medical charges or loss of income will be borne by your liability car insurance company.
You will need liability insurance that covers damage to property in the event that you run into another person's wall or the side of the house as it helps you pay for the cost of repairs.If it turns out that you are not the one at fault and the other party is not insured under liability car insurance, then you will be protected by an uninsured, or under-insured coverage.
There is a difference between liability and collision car insurance.There was no mention about how to fix your car in the earlier description. The reason is because getting your car fixed does not fall under liability car insurance.
For that you are going to need a collision car insurance, otherwise you will be the one making payment.Collision insurance covers fixing your car if it happens to collide with another object.
This type of insurance is not suitable for you if you like to run over small animals.If your headlight is cracked, comprehensive car insurance is needed to cover that.
Your deductibile rate can generally be chosen by you. i.e.You can decide the amount of money that your insurance company will cover repairs to your car.It is typical that the more your deductible is, your car insurance premium is lowered.
Collision car insurance is going to be needed if you lease a vehicle, possess a new car or make payment to a financial institution. People who possess cars that are quite old generally do not need this type of car insurance.
The insurance company will make payment based on the value of your car after subtracting your deductible value.You might not need this if you can afford to replace your car on your own.
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