Insurance exists to protect a person against loss. Car insurance refers to insurance against losses due to theft or traffic accidents. An insurance contract or policy are the terms and conditions under which an insurer pays the insured persons. In most countries, it is obligatory to buy car insurance or car insurance to drive on public roads.
Insurance companies typically impose a flat per car/per year prize. The insurance companies pay this fee, also known as a premium to the insurance company. If the policy holder placed a claim against the insurance, the company repaid the claims arising from the funds by collecting such premiums. When you buy auto insurance, the customer is different, depending on the type of coverage bought protected.
Liability insurance covers claims against the customer or policyholder. Typically, it includes also claims against other drivers or provided car, operator of the policyholder, life at the same address as the policyholder and not particularly to the directive. If the address of these drivers or operators, which of the policy holder is the same, they must be covered then specifically on the directive. Liability insurance protects the customer or policy holder if he drives a car for his own. In this case, the customer by the policy is covered of the other car owner.
Fully comprehensive insurance to cars in the case of damage for repairs or replacement of the policyholder to pay not by accident, including damage caused by bad weather.
Collision coverage is insurance, which promises, figures for the repair or replacement of the policyholder's car in the event of an accident, regardless of who caused the accident.
GAP insurance was leased to created taking into account the rising cost of cars, advanced concept car loans forever and increase in the number of cars. Waivers provide protection for customers, if he money owed a "gap" between the actual value of the vehicle and the amount to the Bank is formed Cap.
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