Auto insurance or the automobile insurance is the same thing. It is popular in almost all segment of the society and it has been voted as the most bought and the most favored insurance plan in the United States. The country has more car than it has population. Hence each person has more than one car at least.
The insurance business is the booming business in the country which doesn’t require looking down. People are always eager to buy insurance plan for their car. This is because the car is said to be the best friend of man. He has to take care of it. He can’t even accept even a slight scratch over its surface. Therefore there are a large variety of insurance plan available in the market.
This article will assess each of them.
1)The first one is the body injury liability insurance policy. This insurance policy extends to the driver of another car. If you are in car and you have met with an accident along with the other driver then this insurance will cover both of them. Hence the insurance holder need not worry at all.
2)The second one is the PIP. PIP stands for personal injury protection. It is very near to the insurance plan talked above. The difference lies in the fact that it not only covers the driver who has met with an accident but also insures medical assistant to the passengers. This policy covers everything from medical bills to death.
3)The third automobile insurance policy is property damage type. This insurance policy not only covers the repair cost of your car but it will also cover the repair cost of other car involved in the accident. This policy is not favored by all because you will pay for your car’s repair through your own pocket while this will cover other person’s car.
4)The fourth auto insurance policy is collision prevention policy. This is the most common type of auto insurance policy available. It is also very cheapest. This type of insurance policy pays for the repair bill if another car has crashed into you. All the driver has to do is to pay the deductible while the insurance company will pay for the rest.
5)The fifth type of policy is comprehensive type of policy. In this policy you are covered if your car has suffered any kind of damage through the sheer act of god.
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