Have you been thinking about buying a car? That’s great news!
But don’t forget to get your car insured right after. If you own a car, taking care of it isn’t any less important than taking care of your house.
You could be an expert at driving, but that still does not guarantee absolute protection to your vehicle. According to a particular survey, approximately three thousand cars suffer an accident every day. Among them, those who had car insurance would at least not suffer a financial loss.
Fixing a car can be expensive if you don’t have insurance.
In this article, we will talk about the instances in which car insurance can help you and some questions that are frequently asked by the customers.
What are the different kinds of car insurance?
There is more than one kind of car insurance available. Usually, each insurance focuses explicitly on a sole cause. However, you can also avail of more than one insurance for your vehicle.
In fact, as times have progressed, it has also become possible to invest in insurance, which covers more than one cause.
It is imperative to remember that the more benefits you will receive, the more significant the sum you will have to pay each month. It might seem like an overwhelming investment in the beginning, but it will actually come in handy in an emergency.
Below we will be listing the different types of insurance policies and what they cover. These are individual policies, but if one were to purchase a full coverage insurance policy, this is what it will consist of.
● Bodily injury liability
In this section of the policy, any person who suffered a loss or an injury by the insured vehicle will be paid for. In short, it is similar to medical insurance that is only applicable if you were in an accident.
● Property damage liability
If you have caused damage to any property with your insured car, this insurance will cover the required fees.
● Personal injury protection
This is similar to bodily injury liability, but it is only applicable to you or the passenger in your car. On the other hand, the policy, as mentioned above, can only help if you have injured someone with your car who wasn’t a rider.
This section of the policy is concerned with the damages that are caused to the car when the owner is not driving the insured vehicle.
It will be covering property damage, bodily injury, as well as personal injury liability. All the prior insurance policies were devised, keeping in mind that the owner was in full control of the vehicle.
● Uninsured/underinsured motorist
This is a little different than the rest since it focuses more on the driver than the vehicle. This section will come in handy to the driver who did not insure their car or if the existing insurance sum is negligible.
This section ensures that the insurer does not suffer a loss even if the owner weren’t behind the wheels. This looks over the identity of the driver and focuses on the car. If the vehicle is insured, the owner will receive a sum.
● Will my car insurance come in handy if it is stolen and damaged?
Yes, it will. If you have any two of Comprehensive or Collision insurance taken on your vehicle, it will cover the fees.
However, there is another important thing to note down. At the same time, comprehensive insurance policies will be of help if your car is stolen, but it will not be responsible for the items that were inside the vehicle.
Whatever that is stolen from your car, does not come under the terms of the policy and will, thus, not be accounted for. It could be a diamond necklace or a plastic water bottle- the price range will not be a factor here.
Another related query that most people tend to worry about: Does insurance cover vandalism?
It does, but not all insurance policies cover vandalism. If you have subscribed to the full coverage insurance policy or even the Comprehensive insurance policy, you are protected.
● If another driver is injured from my insured car, can my policy be useful to them?
Yes, your insurance can come handy in situations such as these. If your car is insured under the policy of Bodily Injury Liability, any driver or person wounded from your car will be paid for. Any other section of car insurance policies does not cover this situation.
However, there is a limit to the amount the insurance can spend on injuries. Any basic policy can pay as much as fifty thousand dollars. Some insurances cover more than the given amount, but that will require you to subscribe to a more expensive policy.