Auto insurance protects the policyholder against financial loss in the event of an incident involving a vehicle they own, such as in a traffic collision.
Coverage
typically includes:
· Property coverage, for damage to or theft of
the car.
· Liability coverage, for the legal
responsibility to others for bodily injury or property damage.
· Medical coverage, for the cost of treating
injuries, rehabilitation and sometimes lost wages and
funeral expenses.
Most
countries, such as the United Kingdom, require drivers to buy some, but not
all, of these coverage’s.
When a car is used as collateral for a loan the lender usually requires
specific coverage.
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