 What are the types of
auto insurance coverage
available?
Liability auto insurance pays up to the specified limits and limitations of
bodily injury and property damages incurred by third parties if the insured is
found liable as a result of an automobile accident. Without coverage, the liable
party would be responsible for paying the third parties' damages and may be
forced to pay from the equity of a house or vehicle. Having this type of
protection helps in the event of unforeseen accidents and the associated costs.
No Fault
Insurance coverage, also known as Personal Injury Protection or PIP, is
coverage which applies to a driver, passengers and any pedestrians involved in
an automobile accident. It pays up to the policy limits for medical expenses,
loss of wages, and other related injuries regardless of who is at fault and even
if there is negligence involved.
Medical
payments auto insurance portion of a policy is designed to pay some of the
medical consequences that may result from an accident such as medical bills
and/or funeral expenses up to the policy limit.
Uninsured
motorist auto insurance not only insures against the "Uninsured motorist"
but also protects policy owners against the "Under-insured motorist". Uninsured
motorist is optional; However, it is recommended that it be added to a policy in
the best interest of the insured.
Comprehensive and collision auto insurance coverage, also referred to as
"Physical Damage", covers damage caused by anything "other than auto collisions"
(sometimes abbreviated as "OTC"). It is important to note that there are
exclusions under comprehensive coverage and some of the more common ones are
,theft, fire, vandalism, collision with animal, windstorm, flying objects, hail,
broken windows.
Rental car
coverage pays for the rental of a vehicle in the event the policy owner's
vehicle be stolen or in an accident. If available through your insurance
company, it may provide reimbursement for costs paid towards a rental car while
the vehicle is being repaired or if stolen, while the claim is settled.
Roadaide
assistance plans can vary depending on the company providing it. Typical
coverage consists of 24 hour emergency towing service, 24 hour lost key and
lockout service, 24 hour mechanical first aide, 24 hour emergency road service,
24 hour battery service, 24 hour tire service, theft and hit & run protection,
rental car discounts, map routing service and theme park discounts.
Visit OnlineAutoInsurance.com to compare instant
auto insurance quotes online
from multiple brand name companies. Free tools and learning materials are also
available to learn more. Additional coverage may be available, be sure to look
for any other type available through providers. Check out more
articles on auto insurance coverage and many other topics.
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