the car is one of the greatest inventionsof all time, it has made life and transportation easy andconvenient for countless people. but owning a car comes with certain obligations,a car owner has to be responsible for everything and anything that comes fromowning a car. one major responsibility is adding car insurancein your list of priorities. but why is it necessary to have car insurance?furthermore why is it highly recommended? most people would think that the differenttypes of car insurance are an additional expenditure to his or her limitedexpenses. however there are certain advantages thatguarantee your security when your
car is insured, especially when somethingunexpected happens, like car accidents or other mishaps.car insurance is an insurance procured for cars and other vehicles.the primary benefit of car insurance is to provide monetary security againstphysical damages and injuries that arise from traffic accidents and otherliabilities that may be covered by the insurance policy.different types of car insurance may provide coverage for six or seven varriedepisodes or events. a car insurance policy has different guidelinesand procedures depending on the chosen type of insurance.since accidents are inevitable and they do
happen,these accidents may incur financial responsibility. whether it is minor or major damageyou will be held accountable to settle the damages,that is why car insurance is important. car insurance policies typically are dividedinto two categories. the first party liability and the third-party liability.the first party is the owner of the insurance policy and a third party isthe other person involved in an accident with the first party.the first party may have caused damage to the third parties property.for a more comprehensive examination of the different types of car insurancepolicies let's consider the following list.
liability insurance,one of the most common of the different types of car insurance is liabilityinsurance, which is typically required of most americans.although it varies from state to state, the vast majority of states require youto have a minimum of liability insurance. if an auto accident happens that is your faultas determined by a law enforcement official,you are liable to pay for the damages, such as the medical expenses and otherexpenses like lost wages and/or property damages. the amount of the liability insurance youdecide to purchase will depend on the assets that you want to protect.therefore if you want to avoid risks of spending
more out-of-pocketit is best to possess a higher amount of coverage. collision insurance,another of the different types of car insurance is collision insurance.if you only possess liability insurance, chances are you will have problems ifyou are involved in an accident. given that liability insurance pays for thedamages of the third party, you may have nothing to pay for your own damagedcar, especially if it is your fault.what you need is a collision insurance policy which will readily cover and resolve anydamage that occurs to your own vehicle. collision insurance provides the resourcesyou will need for the repair
of your own car.although this kind of insurance does not pay for a brand new car especially ifyour car was totally wrecked, it will only pay for the value of your carprior to the accident. collision insurance also covers for incidentslike hit and run. comprehensive insurance,comprehensive insurance one of the most popular of the different types of carinsurance, it generally covers insurance which is notcovered by liability and collision insurance is respectively.liability and collision insurance is concern only automobile mishaps cost byyourself or other motorists,
however comprehensive insurance on the otherhand covers damages to your car due to different circumstances,such as if your car is damaged by environmental disasters,storm, earthquake, or fire, vandalism, or if your car is stolen.this insurance is a good thing to have, however you could lessen the policy priceif simple acts are undertaken, like installing an anti theft device,g_p_s_ tracking device, or an alarm in your car.medical/personal injury protection auto related injuries no matter who isat fault will be covered by this kind of insurance, the coverage will be for youor your passengers, medical expenses and lost
wages beyond your own personalhealth insurance uninsured motorist protection,another of the different types of car insurance, this insurance policy provides liability coverageif you are involved in an accident where the other driver has no insurance,or not enough insurance to cover your damages.this insurance policy also pays for the policy owner and the passengers for thedamages incurred if the driver at fault is nowhere to be found,hit and run cases. no-fault insurance,this is one of the more unique of the different types of car insuranceexisting today,
there are only twelve (12)states where this kind of policy is available, this type of insurance supports expedientpayouts to cover for medical expenses over damages and injuries, providedthat there is a prolonged and delayed disagreement over which party causedthe accident. gap insurance this is one of the seldom usedof the different types of car insurance.if you have not yet completely paid for your carthis type of insurance would benefit you, this kind of insurance will pay the differencebetween the insurance payout and the remaining balance of your car loan.cars lose value at every turn of the clock,
so it is very important to constantly reviewyour car insurance policy to revise it to a more appropriate coverage thatwill allow you to be worry-free during unexpected accidents or other mayhem.so whether you are shopping for online car insurance or shopping at brick andmortar insurance provider, having one of these different types of carinsurance policies will give you peace of mind
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