Site menu

Section categories

Search

Site button

Car Tips & Tricks

Statistics

Login form

Publisher

Main » Articles » Car Insurance

Car Insurance - General Info

Auto insurance protects the policyholder against financial loss in the event of an incident involving a vehicle they own, such as in a traffic collision.

Coverage typically includes:
  • Property coverage, for damage to or theft of the car;
  • Liability coverage, for the legal responsibility to others for bodily injury or property damage;
  • Medical coverage, for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.

Most countries, such as the United Kingdom, require drivers to buy some, but not all, of these coverages. When a car is used as collateral for a loan the lender usually requires specific coverage.

Gap insurance
Gap insurance covers the excess amount on your auto loan in an instance where your insurance company does not cover the entire loan. Depending on the companies specific policies it might or might not cover the deductible as well. This coverage is marketed for those who put low down payments, have high interest rates on their loans, and those with 60 month or longer terms. Gap insurance is typically offered by your finance company when you first purchase your vehicle. Most auto insurance companies offer this coverage to consumers as well. If you are unsure if GAP coverage had been purchased, you should check your vehicle lease or purchase documentation.
Views: 1056 | Tags: general, info, incident, Car, insurance, Kingdom, financial, auto, United, Vehicle | Rating: 0.0/0

Related entries:
Total comments: 0
Only registered users can add comments.
[ Sign Up | Login ]

_