subject: Help With Understanding Your Car Insurance Policy [print this page] Car insurance is the most purchased of all types of insurance. Car insurance is a mixture of two types of insurance: liability insurance and property insurance. Obviously car insurance is to cover the insured car in the case of a car accident. Car insurance will pay out a certain amount, depending on the car insurance rates and quotes, to help the insured pay for the car damage. This part of car insurance is the property insurance. Depending upon your car insurance rates and quotes, your car insurance will also pay a certain amount for the damage done to the other car in the case of a car accident that is the fault of the insured.
Then, there's the other part of car insurance, the liability part that pays out insurance benefits for medical and injury expenses caused by a car accident. This liability part of car insurance also pays for the injuries of others involved in the car accident. Or, if the insured car has someone else driving the car, car insurance, depending upon the policy and quotes and rate, the car insurance will cover the driver of the car.
If you are in search of car insurance here are some terms you may want to know in your car insurance search. You can find the answer to these car insurance terms online at the car insurance company's website, just to make sure that you know specifically what these terms mean to your car insurance policy.
A car insurance policy will often include several parts and these terms: liability insurance coverage, car collision and comprehensive insurance coverage, car insurance including uninsured motorist insurance coverage, medical payment insurance coverage, and no-fault insurance coverage.
Here are some brief definitions of what these car insurance policy terms mean and what kind of insurance coverage would be included under these insurance terms.
Car insurance including liability coverage which will pay for expenses to other car damage and injuries of those involved in a car accident caused by the car insurance policy holder.
Car insurance including car collision and comprehensive insurance coverage will pay for, again depending upon the agreed rates and quotes within the written car insurance policy, any damage to the person's car holding the car insurance policy. The collision part is for any thing or any other car that hits and damages the car. The comprehensive part of the insurance term pays out, according to the agreed rates and quotes, for damage done to a car from natural disasters, fire, theft, etc.
Car insurance should include some type of benefit for those not on the car insurance policy, but who were riding in the car during the car accident. This part of the car insurance policy is called "uninsured" motorist or the "uninsured" liability insurance. This part of the car insurance policy could also include one who was walking or riding a bike that was part of the car accident which the owner of the car insurance policy caused.
Some car insurance policies go on to outline quotes and rates on medical benefits that will pay a portion of or certain rates out for medical expenses cause by a car accident.
And the "no-fault" term within a car insurance policy speaks for other miscellaneous costs that have certain rates and quotes to pay out. For example, depending on the car insurance policy, this portion of the car insurance policy would pay out for lost income because of a car accident.
So, next time you look for cheap car insurance, take a look at the coverage details to see what your car insurance really includes.
by: Janetta Lapinta
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