Understanding Auto Insurance Coverage
Auto insurance is an agreement between you and an insurance company. The insurance safeguards you against financial loss in case you’ve an accident. As defined in the policy, you come to an agreement to pay the premium while the insurance firm agrees to pay your losses. It offers liability, medical and property coverage. Liability coverage funds your legal duty to others for property damage or bodily injury. Medical coverage funds the cost of rehabilitation, treating injuries, funeral expenses, and at times lost wages. Above all, property coverage funds theft or damage to your car. The policy comprises six types of coverage. Most states provide you with auto insurance quotes to purchase few but not all of these coverage. In case you are paying for a car, your lender can have requirements. Many auto policies are for six months to a year. The company notifies you by email when it is time to pay the premium and renew the policy.
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