The Different Types of Car Insurance Coverage

Car owners need to get insurance for their cars to get some assistance incase they are ever in an accident or there is something wrong with the car. There are different types of car insurance offered in the market including:

  • Liability Insurance – Most states require all car owners to have this type of insurance. In the event that there is an accident and the police find out that it was your fault, the cover will be used to repair the property that was damaged in the scenario like buildings or cars and the medical bills incurred by the injuries that resulted.
  • Collision Insurance – The collision insurance spells out that the insurer will pay for the damages on your car or give you an amount that sums up to the total value of the vehicle. This compliments the liability insurance especially in cases where you might not remain with any money to work on your car after an accident.
  • Comprehensive Insurance – This is one of the types of car insurance that car owners are advised to have because collision and liability insurance don’t cover a lot of things that could affect the condition. This includes things like animal collision, theft and weather damage among many other things that are covered by this type of insurance.
  • Uninsured Motorist Protection – This comes in handy especially in cases where liability insurance cannot cover all the costs of repairing the car. This way the car and other bills will still be taken care of without having to dig deeper in your pocket.
  • Personal Injury / Medical Protection – The costs that are associated with injuries from the accidents may be too much to bear. Getting this kind of insurance can help make the load lighter regardless of the person who was responsible for the accident.
  • No Fault Insurance – This is only available in about 12 states but slowly making its way to other states. This policy covers property and damages and injuries regardless of the person who was at fault for the occurrences.
  • Gap Insurance – This is also one of the rare types of car insurance but a great option for the people who are still making payments for the vehicle. It has been specifically set out for drivers who are still trying to cover debt of the car and still have to pay it off in the case that the car is involved in an accident.
  • Green Slip Only Coverage – Green Slip also known as CTP (Compulsory Third Party) is a basic form of vehicle insurance that protects drivers as well as car owners from legal liability of personal injury to some other parties when there has been a personal injury claim. It is however important to note that this does not cover the drivers and owners for damage to other cars or property.
  • Third Party Only Coverage – This is one of the basic polices that insurance firms are more than willing to sell. It only protects other individuals should you happen to crash into them. Damage to the car when it is your fault is not covered unless there is sufficient proof that someone else will take the blame. This means that if the car is taken for joy ride or destroyed in fire you might not be able to fall through with the claim.
  • Third Party, Theft and Fire – This is one of the types of car insurance that covers a lot of thing under one policy and is highly recommended for car owners to get. This gives protection to the car incase there are any fires or it is stolen.
  • Fully Comprehensive Insurance – This is a very common policy among people who have just bought a car as it covers the owner regardless of who is found to be at fault. This brings about peace of mind to the policy holders especially when the car is in tip top condition.

As you shop for a car, it is also important to go through all the different types of car insurance available in the market to pick the one that works best for you. It is also vital to ensure that you find a competent and professional insurance provider so that you can get high quality services without any complications when it comes to claiming the cover when something happens.

Leave a comment

Your email address will not be published.