different types of car insurance

Understanding Different Types of Car Insurance Coverage

When you purchase car insurance, you are actually buying a multi-faced policy made up of a variety of different types of car insurance which all make up your overall policy. This means that you need to understand what sorts of different insurance policies you require or wish for and how best to put your limits together before you actually decide on which insurance company you wish to deal with. There are three main types of auto insurance – Third Party Only, Third Party Fire and Theft, and Comprehensive Auto Insurance. Each one of these has several different types of policies and limits in terms of which you are able to cover, while each of these also has a range of providers who are able to provide cover. It is therefore important that you first think about just what your requirements are and which of these you need to have in order for your car to be fully protected and if you are going to be taking out any additional cover then these also need to be considered.

Third Party Only covers damage to your car caused by an accident, even if the other party is at fault. The main reason for this type of insurance is that you don’t want to have to worry about being liable for damages to another person’s vehicle and their personal possessions. This will usually cover damage to cars, bikes, other people’s property and the belongings inside, but does not cover damage to your own vehicle. There is an additional form of insurance called Third Party Fire and Theft which provides coverage for the same types of things as Third Party Only, but also provides for the other driver and their passengers in the event of an accident, regardless of whether they are insured motorists.

Third Party Fire and Theft will typically provide coverage for the vehicle, its owner and any passengers in the event of a fire or theft, as long as the vehicle is equipped with anti-theft devices. This is the most comprehensive form of car insurance and is the minimum type of coverage required by law. There is a range of amounts you can insure your car for under this policy level, depending on what type of coverage you want. This is the cheapest form of coverage you can get but it provides you with very little protection, if any at all.

Comprehensive coverage is very comprehensive. It offers complete protection for both your vehicle and your property and usually also provides for the other drivers involved in an accident with you. It covers medical costs, if you are injured and also covers the cost of any repairs to your vehicle that must be made due to the collision. This coverage helps pay for damage to your vehicle that is not your fault.

Rental car and travel insurance are two additional standard types of coverage that you may want to consider. These policies are available at many different levels of coverage and premiums. Some policies will provide coverage for you and your rental car for a set number of days while you are renting and for a set amount of time when you are traveling. Others will not cover you at all if you rent the car or take a trip with it, so be sure to read the fine print on these types of insurance policies carefully.

There are several different types of insurance available to US residents today through their auto insurance companies. They include commercial vehicle insurance, farm vehicle insurance, car, home, and several others. Many of these types of insurance are required by state laws and can help protect you from financial loss in the event of loss or damage to your property.

The laws regarding insurance do vary from state to state, even county to county. Each state has different minimum standards of coverage, and drivers need to be aware of these laws and be certain they are meeting them. Different states may require drivers to have liability coverage or collision coverage, for example, while other states may not have any requirement at all. A good idea is to check with a local agent in your area and get some advice concerning what type of policy you should purchase based upon your needs. Many agents can also assist you in removing multiple policies and getting the best price possible on insurance.

Another option is to purchase a “full coverage policy” through one of the many USAA agents and insurance providers. This type of policy is ideal for anyone that frequently drives, as it covers you in case you are injured or damage the car you are driving. It’s important to note, however, that a full coverage policy does NOT pay for damages to your own car or those of other drivers or vehicles you are operating, as well as theft, vandalism, and several other events. These events are addressed by separate insurance policies. Be sure to talk to an insurance expert before purchasing the full coverage policy, especially if you drive often.