Automobile Insurance Policy

Not all auto insurance policies include gap insurance.

Automobile insurance policy. Car insurance policy is a contract between the motor vehicle company a car owner that provides on road protection against any loss or damages arising due to an accident. Gap insurance is often offered by the finance company at time the vehicle is purchased. While it generally pays for medical expenses related to the incident it can also cover legal defense costs. Liability car insurance is the part of a car insurance policy that provides financial protection for a driver who harms someone else or their property while operating a vehicle.

If you don t have it you could be on the hook for paying for repairs completely out of pocket. Bodily injury liability personal injury protection property damage liability collision comprehensive and uninsured underinsured motorist. Do i need collision insurance. While different states mandate different types of insurance and there are several additional options such as gap insurance available most basic auto policies consist of.

Most automotive insurance policies cover bodily injury or death of another person in an incident in which you are legally responsible. An excess payment also known as a deductible is a fixed contribution that must be paid each time a car is repaired with the charges billed to an automotive insurance policy.