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Types of auto insurance coverages

December 4, 2021

Auto Insurance

As a driver in most states, the law requires that your vehicle possess minimum auto insurance coverage before you hit the road. Driving your vehicle without auto insurance, may attract dire penalties like fines, and in some cases suspension of your driver’s license for months. Auto insurance is an agreement between insurers and their clients to cover them against loss in case of an accident.

It is critical to research and gets additional coverage to save your hard-earned money if you get involved in an auto accident. The policy caters to liability, property, and medical expenses. Often getting appropriate auto insurance coverage is a challenging task due to the wider variety of options. It is, therefore, crucial to involve a reputable insurance firm such as Demont insurance company in Miami to advise you on the appropriate coverage for your situation.

Types of auto insurance coverage

  • Property damage liability coverage: This insurance policy covers damage caused to another party’s property while driving.
  • Under-insured and Uninsured motorist cover: This form of policy caters to costs related to injuries or damages to you or your car in an accident if the other party is uninsured or underinsured.
  • Comprehensive insurance coverage: This policy guards one against losses and damages in an auto accident safe for collisions. These elements include hailstorms, theft, falling objects and damage by fire
  •  Medical payment insurance coverage: This policy caters to medical expenses for you and the passengers in the vehicle during the time the accident occurred.
  • Gap insurance coverage: This cover is optional and is applicable when the vehicle is extensively damaged. It covers the difference between the outstanding lease or loan and the current car’s worth.
  • Collision coverage: This is also an optional cover that takes care of damage and losses caused by collisions with another party’s vehicle, rock outcrops, trees, or other objects