All about Car Insurance
Insurance is a process in which a company undertakes to pay certain amount on occurrence of damage, physical loss or death of a person or thing. Vehicle Insurance is a coverage paid by Insurance companies for cars, motorbikes, Lorries and other road vehicles on payment of premium amount for certain period. With alarming increase in population of vehicles, it is not only important but also necessary to have them insured. There are different companies offering various kinds of insurances luring customers about full coverage and other options. Understanding what kind of Insurance is essential for you and which goes well with your vehicle is important to avail the full benefit of the schemes.
Paying for car Insurance might feel a mere waste if you are a new driver or have never paid for Insurance before. Year after year, you will wonder whether it has got any benefit at all. But understanding the new things like why car insurance has to be paid, when it will be useful to you will demolish your concerns once for all. It is for physical damages and repairs if your car meets with an accident and you are at fault the lost party would want you to pay for it and this is when your claim could be of help to you by avoiding you from paying from your pocket. Also with Insurance in hand, you are legal to drive your car and will will be of great use if you need future claim.
What kind of coverage?
While talking about coverage, you will encounter two type, Comprehensive coverage and collision coverage. Collision coverage is something you can claim if your car collides with any other vehicle, tree, light posts, check posts and other non-living things. Comprehensive damage is for loss which happens because of theft, fire explosion, natural calamities etc.
If not getting it claimed, it is advisable to get PLPD. Though it does not cover physical damage, it offers relief for some types of losses like injuries sustained by others, medical costs or some kinds of property damage. Even if you are not cannot self-insure, Insurance companies advise to get atleast a PLPD to avoid any frustrating hassles.