Insurance: Auto Insurance

Have you ever had an accident and you just forgot to renew your auto insurance? I guess it must've break your heart that time that your lovely car is not financially protected from any accidents.

Auto insurance or also known as vehicle insurance is an insurance that is purchased for personal or public transportations such as cars, motorcycles, trucks, lorries etc. The primary function of insurance is to provide financial protection to the vehicle owner against physical damage resulting from traffic collisions which we cannot oversee.

The specific terms of an insurance may vary as depending on your localization. Before applying or buying an insurance for your vehicle, make sure you read the terms that is given by the insurance company that you will subscribe or buy insurance with.

Apart from damage caused by traffic collisions, insurance companies, to a certain degree, may provide financial protection against vehicle theft and also damage sustained by other than traffic collisions.

Coverage Levels

• the insured party (medical payments)
• the insured vehicle (vehicle damage)
• third parties (car and people, property damage, and bodily injury)
• third party (fire and theft)
• in some cases the person who is riding together in the insured vehicle (No Fault Auto Insurance)
• the cost to rent a vehicle if your vehicle is damaged
• the cost to tow your vehicle to a repair facility 

Have any experience in buying insurance with an insurance company? Can you share with us your experience?