“Insurance companies are known to provide various insurance policies that can help policyholders overcome any difficult situations they may encounter”, said Russell Rabichev, Marketing Director of Internet Marketing Company.
LOS ANGELES (PRWEB) March 02, 2020
Insurance companies offer various insurance plans that cover specific events. Before signing any insurance contracts, drivers should do a little research and find out what is covered by each insurance plan. By doing so, drivers will be able to customize their insurance policies with the coverages and options they actually need.
The most common insurance policies are:
- Liability coverage. In many states, this coverage is the minimum required insurance in order to drive legally. This policy has two components: bodily injury liability and property damage liability. Bodily injury liability pays for the medical expenses of the others who were injured by an at-fault policyholder. Property damage liability pays for the repair costs or to replace damaged property by an at-fault policyholder.
- Personal injury protection. Also known as PIP insurance or no-fault insurance. This policy covers medical expenses for policyholders and their passengers who are hurt in car accidents. Also, this coverage will pay for the funeral expenses, lost wages, child care, house care, and other services a policyholder can't fulfill anymore.
- Collision insurance. This policy will pay the costs to repair or to replace a damaged vehicle that was involved in a car accident with another vehicle or a collision with an inanimate object like a tree, fence or pole. Also, collision insurance will pay when a policyholder flips his car or he collides with another vehicle he owns.
- Comprehensive insurance. It covers events that are not related to collisions. This coverage will pay the costs to replace a stolen vehicle or the damage caused by severe weather events, fire, flood, falling objects, vandalism or rampaging animals.
- Uninsured/underinsured motorist coverage. Uninsured motorist coverage is a type of coverage that kicks in if a policyholder is hurt or suffers property damage in an accident caused by an uninsured driver. Underinsured coverage will help the policyholders pay their medical bills if they are injured in a car accident caused by a driver that has coverage, but it’s not enough to pay for the medical bills.
- Roadside assistance. This coverage helps drivers that suffered a mechanical breakdown. Usually, roadside assistance will provide services like battery jump-start, towing to the nearest repair shop, flat tires replacement, or fuel delivery.
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