Car insurance is coverage for automobiles, vans, trucks, and any other road-going vehicle. The primary function of vehicle insurance is to provide monetary protection against physical damage from accident or from liability which may also arise out of vehicle accidents and from liability which may also arise in a moving vehicle. There are various types of car insurance available and all of these vary in coverage, price, and services that the insurer will provide. Some of the most common types of vehicle insurance are third party insurance, collision insurance, comprehensive insurance, and medical payments. Each type varies in coverage and price. Have a look at Get More Information for more info on this.
Third party coverage provides minimal protection and is usually taken by drivers who own one vehicle and are below the age of 25. This type of car insurance does not pay for damages that happen to another person’s vehicle or person if the accident happens at the fault of the insured driver. Third party insurance also does not cover damages to the insured vehicle or injuries to people involved in an accident. Collision insurance on the other hand is coverage that pays for repairs of the insured car or the vehicles of the insured, the payment of the expenses relating to the automobile in the event of a collision with an uncooperative vehicle, payment of the medical costs of the injured, payment of the costs of repair of the vehicle involved in the accident, damage of the insured’s vehicle that results from the collision, payment of the outstanding loan on the vehicle of the insured, etc. Comprehensive insurance is a combination of the minimum and maximum coverage given under the different types of car insurance.
Collision coverage is mandatory in most states and is the basic type of car insurance. This coverage pays for the repairs of the vehicle involved in an accident, damages to the insured car that results from the collision, payment of the medical payments of the injured and liability costs for the negligent acts of the insured. Medical payments are provided under the collision coverage as well. Comprehensive car insurance provides additional benefits.