An Overview Of Different Types Of Auto Insurance

Auto insurance is insurance on automobiles, trucks, boats, motorcycles, and several other road vehicles. Its main function is to offer financial protection against personal injury or physical damage resulting from road accidents and also against liability which may arise from other incidents in a car. The auto insurance policy is a contract between the insurer and the insured whereby the insurer promises to pay a certain amount of money to the insured if the insured is a victim of an accident in which he is the insured party. This is usually done through a written agreement between the two parties. Browse this site listing about Kim Austin – State Farm Insurance Agent – Abilene auto insurance
There are a few important things that should be kept in mind before buying an auto insurance. The first thing is that the automobile insurance company should provide coverage for the medical expenses of the insured person. Liability coverage is another important factor which is a must for all vehicles such as boats and motorcycles must have this kind of coverage to avoid legal action being taken against them. Also the auto insurance company should provide coverage for the repair cost of the damaged vehicle or the replacement of it. Damage caused due to theft provides coverage for the insured person if the vehicle is stolen.
One can also get coverage in this policy which will be helpful in case another driver is driving illegally without any insurance or is uninsured. Uninsured motorist coverage reimburses the insured for damages which are done to his vehicle because of the actions of another driver or a hit and run driver. Another type of auto insurance, which is very popular these days is the no fault or no medical coverage that reimburses the insured for any medical expenses that he may undergo as a result of an accident. Under this kind of insurance policy he can also claim compensation for the loss of any property or personal effects which were damaged during the accident. Thus these are some of the different types of auto insurance available in the market.