Understanding Different Types Of Auto InsuranceBy Marcus Dubois
Auto Insurance policies can be divided into different categories according to the coverage they provide. Broadly speaking there are four kinds of policies known as Collision Insurance, Comprehensive Coverage Insurance, Uninsured and underinsured Motorist Coverage policies and No Fault Automobile Insurance policy. Besides these, there are policies that take care of other needs like covering an auto loan, paying for towing expenses or paying for the cost of a rented car while your vehicle is being repaired.
The most common insurance policies are:
Collision: Any property damage caused to your vehicle due to an accident caused by any other vehicle or object is covered under this policy. The claim amount cannot exceed the actual cash value of the vehicle and is subject to any deductible.
Comprehensive: Any property damage to your vehicle that is caused by non-collision factors like fire, theft, vandalism, and even natural disasters like flood, hurricane or earthquake is covered under this policy.
Uninsured Motorist Coverage (UM) and underinsured motorist (UIM) coverage: takes cares of any injury that may result to you or to persons insured in your policy from an accident that takes place with another uninsured or underinsured driver or vehicle owner. Generally only body injuries are covered under this policy.
No Fault Auto Insurance Policy: Irrespective of who caused the accident, the insurance company pays for the medical expenses and for the loss of wages that the insured suffers on account of a collision under this policy.
Some other additional coverage that an auto insurance policy holder can buy are:
Property Damage Liability and Bodily Injury Liability: These two policies protect the insured from any claims made against him for causing damage to property including vehicle belonging to another person or for causing any bodily injury or loss of life to other individuals up to the amount mentioned in the policy.
Auto Lease Protection: is an additional protection that you may add to your collision or comprehensive auto insurance policy to take care of any gap that exists between your auto loan amount and the cash value of your vehicle.
Full Tort and Limited Tort: available only in the state of Pennsylvania allows the insured to retain unrestricted rights to bring a lawsuit against a negligent party or recover expenses incurred for certain damages.
Rental Expense: Known as Extended Transportation Expense Coverage, the policy pays for a rental car while your vehicle is being repaired or replaced.
Medical Payments Insurance covers medical expenses for injuries sustained in an accident involving any vehicle for the insured, his passengers and other parties irrespective of whose fault it is.
Towing and Labor: An additional coverage option that can pay for all necessary towing and labor costs to tow your damaged vehicle to a work shop or another location.
|
Reading PA Car Insurance Agency Receives Gold Key Award
Encompass Insurance has recognized American Insuring Group, Ltd., located near Reading, PA, for superior performance in car insurance, homeowners, and related insurance products. Encompass is part of the Allstate group of companies.Reading, PA (PRWEB) May 02, 2012 Encompass Insurance has recognized American Insuring Group, Ltd., located near Reading, PA, for superior performance in car insurance ...
Teen driving safety stressed this time of year
York, PA - It is a sobering scene. Students watch as emergency responders rush to a mock crash depicting fellow classmates hurt or killed after drinking and driving.
Pa. guard due in court in killing, $2.3M heist
An armored car guard charged with killing his partner and making off with more than $2 million is back in the Pittsburgh area to face charges. More >>
I Spy A Distraction... Why In-car Games Can Be Dangerous
In-car games may provide a welcomed diversion for the kids, but it could also prove dangerously distracting for the driver.(PRWEB UK) 13 May 2012 In-car games may provide a welcomed diversion for the kids, but it could also prove dangerously distracting for the driver, research by AXA car insurance has found.With almost half (45%) of children playing games to keep themselves amused in the car ...
Tree Removal Disasters Can Be Avoided With 10 Tips for Choosing a Tree Removal Service Provided by Giroud Tree and Lawn
Tree Removal over homes and near electrical wires is the most dangerous job performed by a tree service company. Giroud Tree and Lawn offers 10 Tips to help Philadelphia homeowners hire a safe and reliable tree removal service.Philadelphia, PA (PRWEB) May 17, 2012 Philadelphia area homeowners will inevitably have to deal with tree removal Considered the most dangerous job performed by a tree ...
J.D. Power and Associates Ranks Northwest Savings Bank "Highest in Customer Satisfaction with Retail Banking in the ...
WARREN, Pa., May 3, 2012 /PRNewswire/ -- For the third consecutive year, Northwest Savings Bank ranks highest in customer satisfaction in the Mid-Atlantic Region, according to the J.D. Power and Associates ...
6 Ways to Cut Your Insurance Costs
There is nothing that makes your wallet squeal louder today than pulling into the gas station and dropping $50. Gasoline prices have risen more than 12 percent over the past 12 months, and some experts are predicting they?ll reach $5 per gallon in the next six months.
Long-Term-Care Insurance: Who Needs It?
Above: AnnaBelle Bowers, 87, has lunch with granddaughter Kelley Hawkins in Harrisburg, Pa. Kelley and her sister-in-law, LaDonna Martin, jointly care for AnaBelle.
High school valedictorian receives paid car for leadership, community service efforts
In less than two weeks, the class of 2012 will graduate from Jeff Tech. The vocational-technical school has more than 400 students studying a variety of technical programs. For Stacy Ishman, a senior nursing student, will graduate with a 3.9 cumulative GPA. Ishman was selected as the class valedictorian. On Friday afternoon an assembly was held at the school before an afternoon event to ...
Scottish drivers the first to take tests in supermarket car parks
SCOTTISH learners drivers are to be the first in the UK to take their driving tests from supermarket car parks. The Driving Standards Agency (DSA) is to offer tests from the Asda stores in Arbroath and Forfar when centres in each town close later this month.
|
