5 Types of Car Insurance Coverage Explained!!
An increasing number of vehicles on the road and the insufficient infrastructure to support them, are leading to a rise in accident cases. Over 5.61 lakh road accidents just in 2020 and these are only the ones reported. At times like these, car insurance becomes very important.
Car insurance is meant for being protected from an accident or a mishap that could occur. It includes damages to the car and any bodily injury or fatality caused to the accident's persons.
The best part is you can easily buy Loya car insurance in Atlanta online or offline from any insurance company. Ohh! Buying insurance for the first time and do not know the types of coverage auto insurance considered???
No worries,
Here look at the 5 Types of Car Insurance Coverage:
1. Liability Insurance: In most of the states, including Atlanta auto liability coverage is mandatory in car insurance. Drivers are legally required at the minimum amount of liability coverage set by the state law. In this coverage, there are two components:
Bodily injury liability: It may help pay for costs related to another person's injuries if you cause an accident. Property damage liability: It may help pay for damage you cause to another person's property while driving.
2. Collision Coverage Suppose you're involved in an accident with another vehicle or hit an object such as a fence. In that case, collision coverage may help pay to repair or replace your car (up to its actual cash value & minus your deductible). This type of insurance coverage is typically optional but necessary for the vehicle's leaseholder or lender.
3. Comprehensive Coverage Comprehensive coverage is the type of auto insurance that is great to have if it fits your budget. It helps pay to replace or repair the vehicle if it is stolen or damaged in an accident. Comprehensive coverage also called “other than collision” coverage, typically covers fire, vandalism, or falling objects.
4. Personal Injury Protection: It is another auto insurance coverage known as no-fault insurance. A personal injury protection plan covers the healthcare expenses associated with a car accident. PIP covers medical costs for both injured policyholders and passengers, even if some don't have health insurance.
5. Add-On Insurance Coverage: It is additional coverage if you want to add this you have to pay for this. Coverage under Add-on is considered below:
Roadside Assistance- Company, will rescue you if your vehicle is run out of fuel or flat tires out of the station. Engine Replacement- Damage due to any reason the company provides you with engine replacement services. Nil depreciation – help you to get max compensation for your car.
Some Amazing Features of Third Party Car Insurance Policy: Affordable can easily be purchased online by paying just a minimum yearly amount. Cover Injury or Dead auto insurance covers both bodily injury and death of a third party. Fulfill legal obligations in the best and possible ways. Suitable for all vehicles It is very beneficial for third party liability plans, whether you are buying it for an old car.