Insurance Coverage Available In The US
What types of car insurance coverage are available in the United States of America? This is a question that many may ask, and because auto insurance is the law, it is an significant one.
The owner of the vehicle may be protected with different coverage types depending on what coverage the insurer purchases. Many states in the US require that automobilists carry liability insurance coverage to cover the expenses in the event of an automobile accident. Some states, for example Wisconsin, have more flexible "proof of financial responsibility" requirements.
In the USA, liability insurance covers claims against the policy holder and generally, any other operator of the insured vehicles, provided they do not live at the same address as the policy holder, and are not specifically excluded on the policy. In the case of those living at the same address, they must specifically be covered on the policy. Thus it is necessary, for example, when a family member comes of driving age they must be added to the policy. Liability insurance sometimes does not protect the policy holder if they operate any vehicles other than their own.
When you drive a car owned by another party, you are covered under that party's insurance policy. Non-owners policies may be offered that would cover an insured on any car they drive. This coverage option is only accessible to those who are not owners of their own vehicle, and is required by the government for drivers who have been found at fault in an accident in the past. Non-owners policies are also recognized as Named Operator Policies. Drivers whose license have been suspended will find these policies useful.
Generally, liability coverage extends when you rent a car. Comprehensive insurance policies ("full coverage") normally also apply to the rental vehicle, although this should be verified in advance. Full coverage premiums are based on, among other factors, the value of the insured's car . This coverage, however, cannot apply to rental cars because the insurance company does not want to assume responsibility for a claim greater than the value of the insured's vehicle, assuming that a rental automobile may be worth more than the insured's vehicle.
Most rental auto companies offer insurance to cover damage to the rental vehicle. The above policies may be unnecessary for many users of credit cards, such as Visa and MasterCard, seeing that the companies now cater for additional collision damage coverage to rental cars provided that the transaction is processed using their cards. These benefits are restrictive to the types of vehicles that are covered. - 21396
The owner of the vehicle may be protected with different coverage types depending on what coverage the insurer purchases. Many states in the US require that automobilists carry liability insurance coverage to cover the expenses in the event of an automobile accident. Some states, for example Wisconsin, have more flexible "proof of financial responsibility" requirements.
In the USA, liability insurance covers claims against the policy holder and generally, any other operator of the insured vehicles, provided they do not live at the same address as the policy holder, and are not specifically excluded on the policy. In the case of those living at the same address, they must specifically be covered on the policy. Thus it is necessary, for example, when a family member comes of driving age they must be added to the policy. Liability insurance sometimes does not protect the policy holder if they operate any vehicles other than their own.
When you drive a car owned by another party, you are covered under that party's insurance policy. Non-owners policies may be offered that would cover an insured on any car they drive. This coverage option is only accessible to those who are not owners of their own vehicle, and is required by the government for drivers who have been found at fault in an accident in the past. Non-owners policies are also recognized as Named Operator Policies. Drivers whose license have been suspended will find these policies useful.
Generally, liability coverage extends when you rent a car. Comprehensive insurance policies ("full coverage") normally also apply to the rental vehicle, although this should be verified in advance. Full coverage premiums are based on, among other factors, the value of the insured's car . This coverage, however, cannot apply to rental cars because the insurance company does not want to assume responsibility for a claim greater than the value of the insured's vehicle, assuming that a rental automobile may be worth more than the insured's vehicle.
Most rental auto companies offer insurance to cover damage to the rental vehicle. The above policies may be unnecessary for many users of credit cards, such as Visa and MasterCard, seeing that the companies now cater for additional collision damage coverage to rental cars provided that the transaction is processed using their cards. These benefits are restrictive to the types of vehicles that are covered. - 21396
About the Author:
Although car insurance may sound complicated, it is required by law, and you should put some time into understanding it from bottom to top!
posted by X - Men @ 2:15 AM
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