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Insurance


Car / Auto Insurance

What is car insurance?

Car insurance is also known as auto insurance. A car insurance saves you against loses due to damages to the car in the case of accidents. The car insurance is a contract between the car owner and the insurance company where the insurance company will compensate you with loses in case of any damage to the car. You agree to pay the premium to the insurance company and the insurance company agrees to pay your loses. Car insurance in the UK covers loses to property, liabilities and any medical coverage. The property coverage pays for all loses of damage to the car, the liability coverage pays for your legal responsibility to others for bodily injury and the medical coverage is there for the cost of treating injuries and funeral expenses in case of death.

Types of coverage under auto insurance policy

A typical car insurance policy in the UK has six different types of coverage. Let us discuss each one of them in detail. Most of the policies are either on a six month basis or an annual basis. Your auto insurance company will notify you by mail when it is time to renew the new policy. Each coverage described below is priced separately.

Body injury liability The insurance policy covers any injuries to you and someone else. You and the family members listed on the policy are also covered.

Medical Payments This policy covers medical cost, lost wages and the costs of replacing services normally performed by someone injured in the accident.

Property Damage This policy covers damage to your car and other property that is hit by the car like lamp posts, fences and telephone poles.

Collision This policy covers damage to your car as a result of collision with another car or any other object or a result of the car getting flipped over. This policy also covers damage caused to the car due to pot holes. Even if you are fault for the accident and the damage, you will be reimbursed for the costs of repairing your car.

Comprehensive This policy reimburses you for any losses due to theft of the car or damage caused to the car not because of collision but damage as a result of earthquake, hail, flood, flood, riot and vandalism. Comprehensive policy also covers damage to the windshield in case it gets cracked. Uninsured or Underinsured

Motorist Coverage In this case you or your family members or your driver will be reimbursed in case you are hit by an uninsured or by a hit and run driver. This coverage will also reimburse you in case you are hit as a pedestrian.

Is car insurance compulsory?

Car insurance is compulsory in the UK. You may be fined and your license revoked in case the authorities find out that your car does not have the required insurance. Hence it is necessary that you purchase at least the basic policy required for car insurance. You are sure going to be benefited in the future because of the policy that you have purchased.

 
   



 

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