Imagine walking out of the office and your expensive car has a scratch in the hood. Ouch, that’s going to be expensive!
Auto insurance to save the day!
A car insurance policy is a contract between the policyholder and the insurance company that protects the insurer from financial loss in case of an accident or theft as outlined in the policy. It also provides you protection for other types of losses like injuries, property damage, and medical costs.
The average American pays $1,674 a year or about $140 a month on auto insurance. Nearly 215 million drivers carry car insurance in the U.S, and the industry as a whole is worth about $311 billion as of 2019, according to IBISWorld.
Understanding the different types of auto insurance and their ranges is essential in getting a policy that fits your needs. Here is a list of the basic car insurance and their coverage.
What are the types of auto insurance claims?
- Liability insurance may cover liabilities such as injuries and property damage inflicted on another person resulting from an accident within the policy’s coverage.
- Collision insurance may cover damage and repair to your car after an accident involving another vehicle.
- Comprehensive insurance can provide extra coverage in case of a collision involving another vehicle; the policy may also cover other damages such as vandalism, accidents caused by animals, and natural disasters.
- Medical payments coverage can help pay medical expenses resulting in a covered collision, regardless of who is responsible.
- Personal injury protection insurance may cover liabilities such as medical expenses and loss of income resulting from a covered accident.
- Towing and labor insurance works when you already have comprehensive car insurance; the policy may provide reimbursement for a tow and for the labor costs to repair your vehicle.
- Gap insurance may help drivers cover the cost of a car loan after a total loss or theft.
- Rental reimbursement insurance helps pay for a rental car if your vehicle is still under repair after a severe accident.
- Underinsured motorist insurance can protect you in case of a collision or an accident if the driver’s insurance is not enough to cover the expenses; uninsured motorist insurance can protect you and your car against hit-and-run accidents caused by uninsured drivers.
At TX Insurance Quotes, with over 30 years of experience as an insurance provider, we want you to have the best riding experience that is hassle and worry-free in Corpus Christi, TX, and surrounding areas. We will help you get the right coverage and the lowest insurance quotes for your automobiles, making you save money for your family’s future.
For your insurance needs, contact us to get a free quote.