When we buy a vehicle, the first thing we think of wants to insure it; In some countries, automobile companies have agreements with insurance companies, which oblige the user to acquire an accident insurance policy for the vehicle. However, you are fully entitled to choose the company that best suits you.
A vehicle policy will allow you to be calmer about what may happen to your vehicle, any damage, accident or theft of it. However, not everyone has the same coverage. There are several types of policies with different coverage’s; and of course with different costs.
Types of vehicle coverage
What coverage does a vehicle policy have in the event of an accident?
Depending on the type of policy you purchase, the coverage’s vary considerably. For example: Civil Liability insurance only covers damage to third parties during a road accident.
However, your vehicle does not have insurance that supports or protects it at the time of a theft or accident. To enjoy this type of coverage, you must purchase a limited or comprehensive coverage policy. The same, depending on the type of insurer, offers you different extra benefits in risk coverage.
Some basic coverage’s that insurance policies have are:
Basic coverage of insurance policies
Material damage: covers all damage that the vehicle may have, whether its own or third parties.
Partial or total loss: covers the vehicle in case of damage due to accident, fire or collision. When the vehicle is damaged due to fire, the insurer has a protocol for which the cal will be previously submitted to determine that it is not premeditatedly caused to commit fraud.
Theft of the vehicle: the company covers the entire vehicle according to the amount specified as compensation payment. In case the vehicle is recovered, the company will determine if it is a total loss due to damage and dismantling of its parts, or will proceed to repair it. Everything will depend on the type of clause of the insurance company.
Roadside Assistance Coverage: this coverage is responsible for any bodily injury suffered by the driver of the insured vehicle, whether due to external, sudden, fortuitous or violent causes.
Occupant Medical Expenses: it is responsible for the payment of medical expenses, such as hospitalization, medical care, medication expenses, emergency ambulance services and funeral expenses. This coverage includes the driver and all persons in the insured vehicle at the time of the accident.
Death of the Driver due to an Automobile Accident: it is responsible for the payment of medical and funeral services in the event of the death of the driver.
Glass Breakage: glass replacement in case of a traffic accident or theft. (Some insurers have a glass replacement limit per policy year.)
