What is vehicle insurance?

 

Vehicle insurance is a type of insurance policy that provides financial protection against physical damage or bodily injury resulting from accidents, collisions, theft, and other unforeseen events involving a vehicle. It helps cover the costs associated with repairing or replacing the insured vehicle, as well as any medical expenses or legal liabilities arising from accidents.

Vehicle insurance typically offers different types of coverage, including:

1. Liability Coverage: This covers the costs associated with bodily injury or property damage that you may cause to another party in an accident.

2. Collision Coverage: This covers the cost of repairing or replacing your vehicle if it is damaged in a collision with another vehicle or object.

3. Comprehensive Coverage: This covers damage to your vehicle caused by events other than collisions, such as theft, vandalism, fire, or natural disasters.

4. Medical Payments Coverage: This covers medical expenses for you and your passengers in the event of an accident, regardless of who is at fault.

5. Uninsured/Underinsured Motorist Coverage: This covers you if you are involved in an accident with a driver who does not have insurance or does not have enough insurance to cover the damages.