Car Insurance Research Paper

The benefit of collision insurance is that it pays for damage to your vehicle even when the accident was your fault.

Collision coverage will only pay for the damage not covered by another driver’s policy when the accident is their fault. The best way to describe comprehensive coverage is as “everything else” insurance.

Sometimes insurance companies sell both uninsured and underinsured coverage under the same policy, while others sell them as two separate types of coverage.

PIP or Personal Injury Protection goes above and beyond paying for medical and hospital expenses.

Collision insurance is generally more expensive than liability insurance and often includes a deductible (an amount you pay out of pocket before insurance kicks in).

According to the research firm Mitchell International Inc., the average deductible for collision insurance is 0.25.This covers damage to your car from anything other than a car accident.It is an optional coverage that protects your investment.Some states refer to this type of coverage as no-fault because it pays its benefits regardless of which driver was responsible for the accident.Coverage may vary from state to state but will contain some or all of the following coverage benefits: Unlike other auto coverage, PIP/no-fault payments are not dependent on who was to blame; they also begin making payments much faster. C.) have mandatory no-fault personal injury protection requirements: Other states, like Arkansas, require that PIP be offered as an option to all policyholders.Without liability coverage, you could be in charge of paying these bills yourself.There is an accident where an injury occurs every 14 seconds; in the time it took you to read this paragraph, at least one person was injured in a car accident.According to the research firm Mitchell International Inc., the average deductible for comprehensive coverage is 6.40.Uninsured motorist protects you in the event of an accident where the driver of the other vehicle does not have insurance.Currently 48 states and the District of Columbia require proof of valid insurance to register and operate an automobile. accidents involving cars are responsible for roughly 4 billion in damages a year.According to the business intelligence services company SNL Financial, U. insurers paid out more than million in liability claims in 2012 and million in property damage claims for private passenger auto claims alone. Without the resources of insurance company lawyers and adjusters, uninsured individuals would no doubt have incurred much higher costs.

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