What type of coverage is included in auto insurance policies?

Auto insurance policies typically include a variety of coverage types that provide protection for vehicle owners, passengers, and other third parties. These coverage types include liability coverage, which covers costs associated with damage to other vehicles and property as well as bodily injury to other individuals as a result of an accident caused by the policy holder. Collision coverage provides protection for physical damage to the insured vehicle from an accident. Comprehensive coverage will pay for damages caused by events other than collisions such as theft and natural disasters. Uninsured/underinsured motorist coverage is often included and will cover bodily injury and property damage costs if the policy holder is involved in an accident with an uninsured driver or a driver who does not have enough coverage to pay for the damages. Lastly, Minnesota requires personal injury protection (PIP), which pays for hospital and medical expenses, funeral costs, and lost wages of the policyholder in the event of an accident, regardless of who is at fault.

Related FAQs

How are insurance premiums calculated?
How do I choose an insurance provider?
What are the differences between liability, property and casualty insurance?
What are the penalties for not paying an insurance premium?
What is the process of obtaining an insurance license?
How does the law protect insurance consumers?
What are the requirements for insurance fraud investigation?
What is an insurance binder?
What is the difference between independent and captive insurance agents?
What is the difference between an insurance adjuster and an insurance investigator?

What type of coverage is included in auto insurance policies?

Related FAQs

Related Blog Posts