Life is unpredictable, and anything can happen anywhere. We do not know what will happen next and prepare for the consequences. That’s where insurances come forward to help us prepare for the unknown.
When you buy a car, chances are you might hit it somewhere and injure yourself or the other. It can also get stolen or vandalized, or you might cause property damage. Any other event can put your car at stake, and you’re not financially stable enough to cover the expenses. Auto insurances are for such incidents.
What Is Auto Insurance?
When you insure your vehicle with an insurance company, they cover the expenses of any injury or property damage. What you have to do is pay a monthly premium. That amount will guarantee your safety and the vehicle as per the contract between you and the insurance company.
Can I Get Insurance For My Car?
Basically, all vehicles can be insured. So if you have a car, you wouldn’t have to worry about getting insurance. You’ll have to pay a premium amount monthly or annually in exchange for the safety of you and your car.
What Does An Auto Insurance Cover?
When you’re about to get insurance, you’ll have lots of questions in your mind. Which expenses would it cover? What happens if there’s an injury? But don’t worry, your auto insurance covers a wide range of aspects.
Bodily Injury:
Your insurance company will cover the expenses of a physical injury. The injury might be caused by you or another driver while controlling your car’s steering wheel.
Any Damage to The Property:
Sometimes, you cause damage to another property while driving your vehicle. Your insurance company covers the expenses that come in your name. The property damage can include anything like a building, cart or another car.
Personal Bodily Injury:
There is always a high chance of hurting oneself when there is an accident. The auto insurance covers the expenses of the driver’s injuries too.
Uninsured Motorist Coverage:
So what happens when you get hit by an uninsured car? You’re at the brink of losing financial stability just because of the fault of another vehicle. Uninsured Motorist Coverage covers the expenses caused by an uninsured vehicle. The costs can be related to any injury or damage to the car.
Why Do I Need Car Insurance?
We all know that it’s up to the car owner whether to get it insured or not. But some states have a mandatory policy of car insurance.
We have discussed that auto insurance grants your property and bodily injury liability. But what if something happens to your vehicle? Will you be able to cover the expenses that the accident has caused?
That’s where options for collision, comprehensive and glass coverage comes.
Collision: Your insurance company will not cover your expenses when driving the car and having a collision accident. But if you opt for collision coverage, you’ll be able to save some bucks. The insurance company will cover the expenses of the damage you caused to your vehicle.
Comprehensive: If someone steals your car or damage occurs due to any cause other collision, comprehensive coverage will save the day! So basically, when your vehicle is damaged due to a storm, flood or fire, this type of coverage will cover your expenses.
Glass: There are high chances of damaging a windshield in an accident. Your insurance company will happily cover the expenses when you opt for glass coverage.
What is the Gap Insurance?
When you’re loaning or leasing a car, you might want to get Gap Insurance. When your car gets stolen or toileted, your gap insurance will help you pay your vehicle’s loan. If you owe more money on the vehicle than its depreciated value, the gap insurance covers this gap.
