What is Commercial Auto Insurance ?
If you have an accident, your auto insurance will shield you from financial damage.
It is a legal agreement that you and the insurance provider have.
Both you and the insurance provider agree to pay the premium and to cover your losses in accordance with the terms of your policy.
MEDICAL, LIABILITY, AND PROPERTY COVERAGE ARE PROVIDED BY AUTO INSURANCE:
Your car’s theft or damage are covered under property coverage.
Your legal obligation to others for property damage or physical injury is covered by liability insurance.
Medical insurance covers the cost of medical care, rehabilitation, and occasionally lost income and burial costs.
There are six distinct types of coverage included in a vehicle insurance policy. Most states require you to get some of these coverages, but not all of them. Additionally, your lender may have limitations if you’re financing a car.
Most vehicle insurance contracts last six months or a year. When it’s time to pay your premium and renew your policy, your insurance provider should send you a letter informing you of this.
WHAT IS THE PURPOSE OF AUTO INSURANCE?
It takes money, sometimes a lot of money, to repair or replace your vehicle if you are in an accident or it is stolen.
The expense of your medical care may be prohibitively high if you or any passengers are hurt in an accident.
You might be sued for considerably more than you’re worth if you or your vehicle causes harm to someone else.
In addition to being a wise financial move, several states mandate that you have insurance of some kind.