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.
|
Fiesta Insurance celebrates Opening with Race Car exhibit
People gathered on Thursday, March 22 from 1-5 p.m. at Fiesta Insurance Auto Company to celebrate with staff the official grand-opening of the Douglas? office.
When Consumers Pay More Due to Race or Gender
*
Willy Decker Becomes The Fourth Winner In Four Races At The Brewerton Speedway
After leaving ?The Deuce? ride on friendly terms after last Friday nights event at the Brewerton Speedway, Willy Decker brought out his own Come Race With Us.Com, No.1x and it was a successful night for the Vernon, NY Tracey Road Equipment Big Block Modified driver. Continue reading ?
NASCAR Bojangles' Southern 500 Schedule for May 12, 2012
The NASCAR Bojangles' Southern 500 is scheduled for May 12, 2012, at the Darlington Raceway in Darlington, South Carolina. Greg Biffle won the pole for the race with 180.257 miles per hour. Scott Riggs, Michael McDowell, Stephen Leicht and Mike Bliss have been disqualified.
Vale Carroll Shelby - Texas chicken farmer, racer, philanthropist, automotive entrepreneur
Automotive legend Carroll Hall Shelby passed away yesterday at age 89. Born in Texas on January 11, 1923, Shelby was a leading race car driver, then race and performance car designer who became a household name for his exploits... Continue Reading Vale Carroll Shelby - Texas chicken farmer, racer, philanthropist, automotive entrepreneur Section: Automotive Tags: Design , Shelby Related Articles ...
NASCAR-CUP: Chevrolet Racing Charlotte All-Star race qualifying report
FASTEST CHEVROLET QUALIFIER RYAN NEWMAN STARTS SECOND IN ALL-STAR RACE Ryan Newman, Stewart-Haas Racing Chevrolet Photo by: Action Sports Photography CONCORD, N.C. ? MAY 18, 2012 ? Ryan Newman was the fastest among nine Team Chevy drivers in today?s qualifying session and secured a second-place starting spot for Saturday?s NASCAR?S Sprint All-Star race at Charlotte Motor Speedway. Newman powered ...
NASCAR Aaron?s 499 Schedule for May 6, 2012
The NASCAR Aaron's 499 race is scheduled for May 6, 2012, at the Talladega Superspeedway in Talladega, Ala. In 2011, Jimmie Johnson won the race and has entered again this year. Pack racing is expected to return for the 2012 race.
NASCAR STP 400 Schedule for April 22, 2012
The NASCAR STP 400 is scheduled for April 22, 2012, at the Kansas Speedway in Kansas City, Kan. Brad Keselowski won the race in 2011 and has qualified in eleventh position this year. A.J. Allmendinger won the pole for the 2012 race.
Chattanoogan.com - Chattanooga's source for breaking local news
The Chattanooga area was represented well for the beginning of the race week in Talladega Alabama.
NASCAR Capital City 400 Presented by Virginia is for Lovers Schedule for April 28, 2012
The NASCAR Capital City 400 Presented by Virginia is for Lovers race is scheduled for April 28, 2012, at the Richmond International Raceway. Mark Martin won the 2012 pole with 128.327 miles per hour. The race can be seen on Fox at 7 p.m. EST.
|
