Auto insurance is nothing but the insurance of car, trucks, motorcycles and other road vehicles. Its primary usage is providing commercial protection against physical damage and injury to the body. It is a contract between you and the insurance company you are consulting with.
Auto insurance offers both economic protection against theft of the vehicle and also damage to the vehicle due to traffic collisions and also damage sustained by hitting stationary objects on road.
Benefits of Auto Insurance
- Protection against loss or damage to the insured vehicle.
- Protection against damage to the vehicle caused by accident, Fire collision, strikes, terrorism, natural calamities.
- Protection against financial liability caused due to death of third party or damage to the property.
Types of Auto Insurance
- Third Party Liability Insurance.
- Collision Coverage.
- Comprehensive Coverage.
Third Party Liability Insurance
This type of insurance provides cover against liability caused to the third party when you are at fault. In short, it provides coverage to the damage/injury caused by you or done by you to the third party person or property. This insurance is legally mandatory in most of the countries. You can get more information on Auto Insurance via https://kensmalleyinsurance.com/ website online.
Collision Coverage provides protection to the person financially against the damage caused to their own car. This coverage pays the individual for the damage caused to the vehicle which is usually an accident. Damage caused due to the theft or destruction is not included under this coverage.
The comprehensive coverage is very large which includes coverage against damage of vehicle caused due to theft, personal accident, third party legal liability. This coverage can be extended by opting for more coverage such as accessories damage, engine protector, medical expenses etc.
This coverage is very important and famous as it provides more benefits in one coverage and also lessen the stress of the policy holder.