What is Online Auto Insurance?
Auto insurance/vehicle insurance is also known as car insurance or motor insurance.
That is purchased for cars, trucks, and other vehicles. It provides protection against losses occurred due to traffic accidents and financial losses due to accidents. It is a type of contract between you and the online auto insurance company. According to this you consent to pay the premium and online auto insurance company agrees to pay all the losses which are covered under your auto insurance agreement.
What does Auto Insurance Offer?
Online auto insurance provides property, liability or legal and medical coverage.
o Property coverage pays money on any damage due to accident or theft of your car.
o Liability coverage provides you coverage for the injuries and damages caused to other drivers and their vehicles when you are the cause of accident.
o Medical coverage pays to treat injuries, rehabilitation and lost wages and funeral expenses.
Coverage Levels Provided by Online Auto Insurance
An online auto insurance policy consists of six different kinds of coverage. Most online auto insurance policies are of six months to a year. Online auto insurance company notifies by email when policy renewal time comes and you need to pay the premium again.
o Liability Coverage
o Collision Coverage
o Comprehensive Coverage
o Uninsured/ Underinsured Coverage
o Medical Payments Coverage
o Loan Lease Pay Off
Items Covered by Online Auto Insurance
Online auto insurance covers some or all the following item.
o The Insured Party
o The Insured Vehicle
o Third Parties (car and people)
Different policies provide different type of auto insurance coverage under different circumstances. These circumstances are specified by the company. For example a vehicle can be protected against theft, fire damage or accident damage independently.
Benefits of Auto Insurance
o Auto insurance offers various benefits to policy holders.
o Auto insurance pays all the medical expenses due to bodily injury of yourself and also others resulting from an accident.
o Also pay wages you lost due to accident.
o Provides benefit to survivors when death occurs as an accident’s result.
o Also pays for the legal fees that you have to pay because you are the cause of the accident.
o Auto insurance pays repair charges for the vehicle.
o Also pays for the vehicle’s repair due to damage caused by something other than an accident e.g. floods or wreckage.