Car Insurance Explained

Posted by on Dec 14, 2016 in Insurance News

Car insurance is an insurance that is used to provide you protection against loss if an accident occurs.It is the contract between ID-100183957the insurance company and you. The insurance company pays for any loses in case of an accident.It is a legal requirement that you insure any vehicle that is kept in a garage or driveway or in the the street,

Types of car Insurance
Different types of insurance covers for auto motives exist. They include:

a) Comprehensive coverage

It covers the cost of repairing or even replacing your vehicle whether you are at fault or not.This cover also includes transportation cost ,the cost of emergency repairs and damage that is caused by other drivers.It covers most situations that are not covered by liability and collision coverage.

b) Third Party Property cover.
This is meant to protect road users from damage that you may cause.It covers the damage that you are responsible for to other people, vehicles, and their property.This does not cover repair that is needed for your own car and it won’t be covered if your vehicle is stolen and does not also cover your own medical expenses.

c) Third party Fire and Theft cover.

It is similar to third party cover but also pays if your car is damaged by fire or if it is stolen. It is more expensive compared to third party property insurance and therefore, you should not have it if your car is not worth it. Or, if you a down on funds you can look in to cheap insurance marion il.

d) Compulsory Third Party Insurance

It is also known as the ” green slip ” insurance and is required for all registered drivers.In case of an accident, this cover indemnifies the driver that are legally liable to personal injury to another person in the accident.

e) Gap Insurance
This one are meant for those that are still making payments for their cars when it is involved in an accident.Some lenders make it a requirement that you are gap insured first before they give you a car.

Tips of buying a car insurance

Before buying an insurance cover, you need to :

-Review the credentials of the insurance company to know if it is the right one
-Compare the coverage quotes that have been offered,
-Understand the benefits of that insurance cover.
– Find out how to lower your premium rates
-Determine what you can afford then choose the right one
As illustrated above, different car insurance covers exist and it is important to choose the right one and one that you can afford.It is also important to choose the right insurance company.

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