auto insurance

what are the type of auto insurance?

type of  auto insurance

coverages you can purchase on an auto insurance policy. The first is collision which covers damage to your insured vehicle. Next is a liability which covers damage to another person’s vehicle or property and bodily injury you cause if you are at fault.

Comprehensive coverage is for all losses “other than collision”. Examples of this are broken windshields from rocks in the road hitting your windshield. Vandalism when unknown parties scratch your paint or other things like that. There are many more examples but like it says, all losses not caused by collision.

Then there is uninsured and underinsured motorist coverage. These two coverages protect you in the event you have a Los with someone that either doesn’t have any liability coverage or has very low limits which won’t cover your entire claim. These two coverages only apply when the other party is at fault.

The next available coverage is called “medical payments” or medpay. This is normally a fixed amount coverage, usually $5000 per person. This coverage is for passengers in your car including yourself and is a reimbursement coverage when you have an accident and either you or your passengers are injured. You only need to supply paid medical expense receipts for reimbursement up to your stated limit.

Most companies also offer towing insurance. This is exclusively for when your car breaks down and needs a tow either home or to a shop. It isn’t used for accidents as your collision or comprehensive coverage will also pay for necessary towing.

type of  auto insurance

There are a couple of other rare coverages, stated value for classic cars, and so on. The he ones I listed above are the major and most used coverages.

All insurance policies are listed as “fully comprehensive” (which occasionally actually works out cheaper than “3rd party fire and theft” which is the only other option). My excess on all three cars is £250 mandatory and £250 voluntary. So in the event of a claim, I would be “out of pocket” for a maximum £500 regardless of which car I drive or what damages there are.

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