Category: Auto Insurance

Car insurance has been termed to be among the most vital policy coverage that is required for any automobile. But this type of policy is likely to different from one country to the other and even between states, with respect to protection and cover that might change in ratios and percentages. A policy offers adequate protection to motor vehicle owners during times of accidents that involve vehicles covered by such policies along with extended coverage for damages that are caused to 3^rd parties.

Risk categories covered by motor vehicle insurance policies

Broadly speaking, motor insurance policies tend to cover six major risk categories, premium payouts of which are based upon pricing of each of them separately.

• 3^rdparty legal or bodily injury liability: The driver might be required legally to pay compensation, in case his car is the cause of injury or death to any third person. Many of the policies are known to offer coverage against legal liabilities which are said to be caused by accidental damages towards property and third person. Coverage limit for death or injuries, however, is not fixed, and hence depends upon case to case basis.
• Collision or accident cover: It offers injury and accident cover for policy holder, in case, he sustains injury when travelling in insured vehicle, besides damages to it.
• Comprehensive: Few insurance policies tend to cite it as ‘vehicle damage’ that includes natural calamities. Generally, comprehensive excludes accidents, but includes damage to vehicle due to natural calamities like explosion, earthquake, flood, fire, lightning, landslide, hurricane, falling objects, along with theft, etc.
• Uninsured motorists’ cover: It covers treatment expenses for insurance policy holder suffering from injuries that are sustained through collision or accident with uninsured vehicle or driver. Minimum liability coverage is recommended for personal or bodily injury protection as well as property damage.
• Liability to Property damage: It offers coverage against damage by policy holder to any 3^rdparty property. Property damage coverage is mostly defined.
• Medical: It is also called PIP (Personal Injury Protection). It covers medical treatment related to injuries to occupants of insurance holder’s vehicle during an accident. It extends to include hospital or medical bills, lost wages including other causes that might vary.

The other elements which form add-on risks depend upon request or need from policy holders such as towing coverage, rental car cover and auto replacement.

Author’s Bio: The author has been working with https://www.reliancegeneral.co.in/Insurance/Home.aspx for quite a long time. He writes articles mainly related to auto insurance to provide his readers with sufficient knowledge in the domain and to make well informed decisions.

Always check your insurance policy at a regular interval of time, if the insurance policy is not been updated or it is not of current time period you will not be paid a single buck even you can’t say anything to the insurance provider and insurance company in case you met to any accident. So always be updated with the policies time period and keep checking car insurance rates.

Other shields

As we know, the liable insurance assures that if you met an accident they will be paying for the damages of both parties. So always make sure that whether they are providing you all these shields or not.

Also insures your family

There are many other comprehensive insurance policies, which guarantee you to make you and your family members insured. However, the thing to be kept in mind is that your policy must be updated and be current, so that it may be claimed.

HOW TO GET THE COST SAVING INSURANCE

There are many policies, which provide the insurance in lesser cost and few of them are as follows.

• Yearly policies
• Anti-Theft Products
• Multiple car discount
• Electronically funded instalments
• Mileage check and many more
• Yearly policies include the policy, which cannot be altered before a year and is more beneficial than half yearly policies.
• As these days, the cars are equipped with anti theft product such as the cars have the GPS system, which helps in finding out the locations. Hence these modern cars are been provided with the discount on the insurance.

Thus, it is suggested to make your car insured In order to reduce any kind of accidents and miss happing in your future life.

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