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Posted by: | Posted on: March 15, 2021

The Different Types of Car Insurance

DescriptionThere is no doubt that car insurance is the most significant type of insurance you can purchase. Car insurance is also known as auto insurance or auto indemnity insurance. Vehicle insurance is insurance specifically for automobiles, trucks, mopeds, motorcycles, and other similar road vehicles. Its main function is to offer financial coverage against personal injury or physical damage resulting from road accidents and/or from liability which can also arise from other incidents in a car.Learn more by visiting  San Angelo Insurance-Car insurance

In case a vehicle accident happens which is caused by the negligence or wrongful act of another party, the automobile insurance will pay the expenses involved and legal costs related to the accident. Car insurance also covers the repair expenses and replacement of any vehicle which got damaged as a result of collision. However, there are three types of insurance coverage that every individual must have in his vehicle: collision coverage, comprehensive coverage, and liability insurance.

Collision coverage is meant to pay for the repair expenses and the replacement cost of the vehicle that got damaged as a result of collision. The amount of collision coverage is expressed as the total cost of repairs and the replacement cost expressed as the market value of the vehicle. Comprehensive coverage is designed to repair your car in case of an accident and to cover the medical expenses related to your body and personal injury. Bodily injury is also covered by bodily injury coverage. Liability insurance on the other hand, offers compensation for damages incurred by you in the event of accident and has been designed to pay for damages suffered by you or your relatives and friends.