One Of The Five Types Of Vehicle Insurance Is
5 Types of Car Insurance Coverage Explained On the other hand, if you have a more expensive car or one that is relatively new, collision insurance can help get you back to where you were before any damage to your car. Note: If you have a lienholder, this coverage is required.
Liability Insurance. When your state requires that you carry some sort of insurance for your car, they're usually looking for liability insurance. In the event that you are in a car accident and the police decide it is your fault, liability insurance covers the cost of repairing any property damaged in the crash (such as cars or buildings),
The following 5 types of car insurance coverage should be studied to choose the best coverage for your car: Liability Coverage: When you are involved in the accident and when it is concluded that that accident took place before of your fault/negligence, the liability coverage will come to your rescue.
1. Auto Insurance. If you have a car, you need auto insurance - and not only because every state law requires that you carry it. For many people, their car is their only way to get to work; if it becomes un-drivable due to an accident, and the money isn't available to buy a new one, it can be hard to earn a living.
The various types of car insurance coverage are available to help protect you, your passengers and your vehicle if you're involved in a car accident. Six common car insurance coverage options are: auto liability coverage, uninsured and underinsured motorist coverage, comprehensive coverage, collision coverage, medical payments coverage and personal injury protection.
Below are non-exhaustive lists of the many different types of insurance that exist. A single policy that may cover risks in one or more of the categories set out below. For example, vehicle insurance would typically cover both the property risk (theft or damage to the vehicle) and the liability risk (legal claims arising from an accident).