An insurance policy basically is an agreement between you and an insurer. In fact, an insurance policy can actually cover a variety of different things, from life insurance to car insurance. Insurance policies can also be written for many different types of situations, ranging from unexpected medical expenses to property damage to car damage.
One of the most common types of vehicle insurance is collision coverage. Basically, it covers any financial losses that might occur due to damages to the other person's vehicle. The amount of damage is usually covered for the current and future repairs. Collision coverage is normally paid only in the event that you are at fault for causing the accident.
Bodily Injury Coverage is designed to pay medical fees and funeral costs for you, your passengers or anyone else that you may cause an accident or injury to while driving. This type of coverage will usually only pay if the other person is legally responsible for causing the accident. There are no limits on the total amount of time that this coverage will cover.
Liability Coverage is designed to pay if you are found to be legally responsible for another person's damages to his or her vehicle. For example, if you were to hit a child in a car while driving and caused an injury, you might have this type of coverage to cover your legal costs. Liability coverage is usually limited to a few thousand dollars, but in most cases you won't be able to claim compensation for the full value of the vehicle that you hit.
Comprehensive Insurance is designed to pay for damages to the property of another driver in the event of an accident. This coverage will pay for the cost of repairing or replacing the vehicles of all passengers that were involved in the accident. It will also pay for the cost of medical bills, property damage to the property of another person's vehicle, and any other type of personal damage to the vehicle. Comprehensive coverage is usually required when you own more than one vehicle and are considered high risk drivers.
Car insurance policies are required by law in most states. If you do not have coverage for these items, you should review your insurance policy regularly so that you can make sure you have the proper coverage.
You may want to consider insuring your car with the same company that insures your house. They have a proven record of providing affordable insurance coverage.
You can get free car insurance quotes online, but you should make sure to only contact a reputable insurer. Remember that it is important to have a safe and dependable car!
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