Auto Insurance provides coverage for damage to a vehicle like( car/two wheeler/commercial vehicle) due to any accident or theft.This type of insurance helps an individual to mitigate financial harm due to accidents causing damage to vehicular property.For availing the benefits of insurance, insured has to pay premium money.The amount of premium depends on several factors like type of vehicle, the age of the vehicle, year of driving experience, the age of insured, fuel type, insured declared value etc.However, poor driving record/desire for A complete coverage will lead to higher rate of premium.
AUTO INSURANCE: Tool of Protection !!!!!!
In simple language, auto insurance provides you safety against monetary loss, if you faced with an accident.It is generally a contract/agreement between an individual and insured company.The insured is liable to pay consideration(premium) and the company agrees to pay compensation in unfortunate situations as per policy norms.Auto insurance provides coverage for property, liability and medical:
1. property coverage pays for loss /theft of your car/any other vehicle
2.liability coverage pays for your legal responsibility towards others for injury/property damage
3.medical coverage pays for insured's cost of treatment/sometimes lost wages/funeral expenses
Most auto insurance policies duration is from 6-12 months.After that, your company will notify you the time for renewal and to pay your premium.The insurance policy is of utmost importance as instead of paying out from your pocket, the company will pay all (or portion) of damage in case of auto accidents.Auto insurance brings you under the umbrella of protection by alleviating your monetary harm.
US TOP 7 AUTO INSURANCE COMPANIES
If you want the best protection, buying an auto policy from the good insurance company company is also very much essential.Buying from a reputable company will provide both peace of mind and coverage for the financial loss. Here is the list of some companies that offer superior customer service and other features to insured:-
1.Liberty Mutual- Ranked among best, Liberty Mutual has top customer service rating.It has ensured near about 1.5 million of vehicles in the US.Founded in 1912, it provides you great standard coverage.
2.USAA- It has achieved great customer satisfaction with their final settlement procedure after an accident.Top ratings, satisfied customers, diverse policies make it good insurance provider.But biggest the downside of this company is that is available only to members of united state military.You will not be able to purchase a policy from USAA if you are in general public.
3.Allstate Insurance- This company offers you high-quality insurance policies for a vehicle with discounts.With physical office, local agents and helpful website customers can get in-person help/access information online anytime.
4.Auto-owners Insurance- With higher ratings for consumer service, it has also 6300 independent agents that care your need.Great claim experience and a variety of discounts make it suitable for the individual.
5.Progressive- Along with the solid base of gratified customers, strong online presence, it also offers plenty of discounts.It becomes extremely competitive when it comes to pricing.
6. State Farm- With physical stores and agents dispersed throughout the country, it has a great history of customer satisfaction and financial stability.Established in 1922, State Farm offers discounted policies, mobile app and website are also useful.
7. The Hartford- Hartford has excellent goodwill for customer service and claim processing.Although, it is an old company, still provides the best technology.With more than 200 years of business history, Hartford provides several discount policies and you can avail 24*7 help from agents either online or on phone.
DIFFERENT TYPES OF AUTO INSURANCE COVERAGES
Auto Insurance must be carried by vehicle owners to lessen financial stress in case of any emergency.Once you know the types of auto insurance, you may understand which type of policy should be brought to you.Depending on individual's financial capability, coverage may be taken.Here is what you should know:
Vehicle Coverage- This type of insurance coverage brings back your vehicle to normal condition after any accident.This coverage doesn't provide any help to another vehicle involved in an accident.Also, doesn't include routine maintenance and wear and tear expenses.
Comprehensive Coverage- This coverage provides you protection in the case when something damages your car except for any other vehicle.It may be due to any natural disaster(flood/earthquake/hail storm).Protection will also be provided in cases like if you hit any animal, the car was stolen, glass repairs.It is bit costly, but of great importance especially if your car is new.
Collision Coverage- In this type of auto insurance, compensation is provided for the damage when you are responsible for any accident.If your car is totalled in an accident, it will pay you the value of your vehicle before it was crashed.
Emergency roadside service coverage- This coverage helps you to deal with life's unexpected problems.Like if your car breaks down on the roadside, you will need either to get it fixed, or towed it to any repair shop.The policy will offer towing costs as per policy rules.
Medical coverage- Although every accident may not result in injury, there is always a possibility of getting hurt.Even some injuries are very expensive to treat.In that case, medical coverage provides security to insured from monetary loss.
Medical Payment Coverage- This coverage generally covers you and your passenger and pays for several situations.It pays for dental/funeral/medical expenses for driver and passengers if the accident took place when you were driving.It even ensures coverage when you are hit by a vehicle.
Personal Injury Protection Coverage- It is generally offered in no fault case.Provides coverage for lost wages, funeral expenses and substitute services if you are not to do household work after an accident.
WHY AUTO INSURANCE.................???????
To avoid inevitable incidents, it is quite important to go for auto insurance policies.We all are aware of the fact that driving a vehicle may be dangerous.Thus, insurance saves you from paying thousands of dollars of bills in case of any unfortunate event.However it is need of the hour, look at the points:-
- You are able to protect your automobile; one of your biggest investment
- Makes you capable to bear hefty medical expenses in case of any accident
- Make sure that you are protected at every moment, you hit the road
- Not only provides coverage for accidents and natural incidents, also pays for theft and vandalism
- Helps to lessen mental and financial stress in tough situations
AUTO INSURANCE is the necessary type of plan that best meets the needs of people.To overcome from difficult situations, it is a big saver.As it protects you from paying heavy amounts from the pocket that may directly affect your financial position.