So you’re walking back to your car after a long day at work
and you find that there’s a big scratch on the side of your car door. You’re
pretty sure someone vandalized your car while you were away. It’s natural to
get pissed in situations like these and if you’re like most drivers, would ask
whether your car insurance will cover the damage to your vehicle.
Nightmare situations like these are what make car insurance
important to car owners. It’s not just a scratched or dinged car door that
could happen to your car. Having your car stolen, or worse, getting involved in
a car accident that puts you and the lives of your passenger in mortal danger
are other events where a car insurance can be really useful.
To know whether you’re protected financially by your
insurance company should these events happen to you, you need to know about the
different types of car insurance coverage. This can help you decide on what
coverage to get when you apply for car insurance or have it renewed. Here are
five types of car insurance coverage you should look into.
1.
Liability Insurance
Most countries make liability insurance mandatory for car
owners so this is a pretty basic car insurance coverage that you could get.
Should you be involved in a covered car accident that you are responsible for,
liability insurance will cover the cost of the damaged property or the medical
bills of people injured in the accident up to a certain amount as specified in
your policy.
2.
Comprehensive Coverage
If you get a car
insurance with comprehensive coverage, you can make a claim should you fall
victim to someone scratching your door while you left it parked outside. This
type of coverage covers a wide range of losses that are not caused by an auto
accident. If you’re still paying your car, your lender could require you to get
comprehensive car insurance.
3.
Collision Coverage
As its name implies, you can make a claim from your insurance
company for the cost to repair your car should you get into a car accident. If
the cost of the repair exceeds the value of the car, (or in other words your
car is “totalled”) then this type of coverage
will pay the value of the car.
4. Personal
Injury Protection
Road accidents are one of the major causes of death in many
countries around the world. The medical bill for drivers and passengers
involved in car accidents can be quite significant so getting a car insurance
with personal injury protection cover can help protect your finances should you
get into an accident.
5. Rental
Car Insurance
If you fly frequently and drive a rental car, you might want
to consider getting a car insurance that has rental car cover. This is usually
an optional cover so if you don’t see yourself driving a rental car in the
future, then you might want to leave out this cover to bring down your premium.
A car is an important investment. By getting comprehensive
car insurance, you do more than protect that investment—you also spare yourself
from the stress and the worry in case of unexpected events.
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