Having a car provides ease of commuting from one place to another speedily and also offers better security as compared to a two wheeler
. Today, more and more people are purchasing cars because of its augmented competence and easy transportation. Having car insurance is as significant as life insurance. Insurance offers you financial assistance in case of unexpected situations. No one knows about his future and do not recognize what is going to happen next. It is capricious and nothing is in our hand apart from for protecting ourselves against the medical and damage costs. Here are few kinds of car insurances available:
Liability Insurance:
It is a type of car insurance that covers you any damage to body and property while driving. Liability insurance covers for both physical damage and loss to property that is caused in an accident due to your fault or others. The damaged property or person will be financially assisted in this case but you will have to pay the deductibles as described by your insurance company in its plan. The deductible can range from $100 to $1000.
Collision Insurance:
Collision insurance covers for loss and damage caused when your car collides with another car or property. This kind of damage is covered completely over the deductible amount up to the limit of the policy but it does not imply that you can deliberately hit a car into a pole to make money. The insurance companies investigate about the accident completely before giving you the claim
Comprehensive Insurance -
Comprehensive insurance covers insured car against any kind of damage that occurs due to some other reason than collision. The reason for damage can be natural disaster, theft, vandalism, etc when you car is smashed by a hailstorm then you can file an insurance claim for it under your comprehensive insurance policy. But then you will have to look after the deductibles.
There are several types of insurance plans available with different insurance companies. The premium rate, deductibles and plan any vary from one company to another. Therefore, one should research the market carefully before choosing an insurance policy.