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Car Insurance / Auto Insurance Explained
Auto insurance protects you and your car from any damage sustained in an auto accident and prevents you from sustaining any loss. Comprehensive auto insurance will also protect you from any public liability claim made as a consequence of the accident. As well as accidents, your vehicle can also be covered from damage caused by from fire, theft, vandalism, adverse weather and other scenarios. The amount of cover you have wholly depends on your specific policy.
Who is a potential candidate?
In most developed countries car insurance is mandatory. In the event of a car accident where you are not at fault if you the only person involved who is not insured then you are the person who is liable for all the costs associated with the accident. Accidents are reasonably common and if you want to protect yourself from risk then auto insurance is an option for you.
What typically does it cover?
Cover varies widely from insurer to insurer and also between states. It typically covers the car from damage caused by an accident as well as liability to other vehicles or injury caused to another party.
You should receive roadside assistance as standard as well as a trip interruption payment to ensure you can get home if you are traveling interstate. You normally are entitled to a courtesy car if your car is not available for use for an extended period.
What typically does it not cover?
A policy is normally comprehensive and covers you, your passengers and your car in the event of most scenarios. The only grey area is random vandalism. Some insurers will not fulfill a claim due to vandalism if the car owner has not taken sufficient steps to protect their car from attack. You shouldn't have any problem if the car was on guarded property (i.e. paid car park) or if your car was garaged.
Additional coverage that policy holders might take out in this area
Typically, auto insurance will cover all costs to your car and others as well as liability, legal and medical costs to you and other parties. There are no other insurance policies that a person will need as a requirement, however, depending on how protected you can always take out further insurance. As an example, you may want extra medical coverage specifically for passengers if you have young children.
Additional coverage for a car insurance policy
You may opt to include additional cover that increases your comfort during the entire experience. An insurance company will normally pay the very minimum to satisfy you but you can get additional cover which will entitle you to courtesy cars while your car in out of action. You may also get an inclusion which insists you get a new car if your old car is damaged beyond a certain extent. Additional coverage is expensive but can make the whole insurance claim proceedings more comfortable for you and all persons involved.
What will it typically cost?
The price is determined by your experience, your auto record, the car you would like insured and the amount of cover you need. Rates can be very high if you are under 25 years of age, male and are inexperienced at driving. Once you become less risky in the eyes of the insurer then your premiums can, and will, reduce drastically.
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