Having a car offers comfort of commuting from one place to another quickly and also provides better security as compared to a two wheeler. Today, more and more people are buying cars because of its increased efficiency and easy transportation. Having car insurance is as important as having a life insurance. Insurance provides you with financial assistance in case of unanticipated situations. No one of us is aware of his future and do not know what is going to happen the very next moment. It is unpredictable and nothing is in our hand except for securing ourselves against the medical and damage costs. Here are few types of car insurances available:
It is a kind of car insurance that covers you for bodily damage or property damage while driving. In this kind of insurance the physical damage that you have caused to yourself or passerby because of negligence or unwanted natural force is covered. If you have caused any damage then your insurer will pay for it. Although you may be liable to pay a portion of it on your own the deductable amount usually ranges from $100 to $1000.
Comprehensive Insurance –
Comprehensive insurance covers the damages to the insured car which is caused by some other reason than collision. The reason for damage can be theft, vandalism, natural disaster, etc when you car is damaged by a hailstorm then you can claim for it under your comprehensive insurance policy. But then you will have to look after the deductibles.
The insurance companies offer different plans under each insurance type to choose from. The plan, its premium and deductibles vary from one plan to another and also from one company to another. So, it is recommended to research the market carefully before choosing any insurance policy.
Collision insurance as the name suggests covers for loss and damage caused when your vehicle collides with a property or another car. This type of insurance covers for all the damage over the deductible amount up to the limit of the policy but it does not mean that you can intentionally hit a car into a tree because you need quick dollars. The company paying you the insurance often investigates about it before paying you the claim.