Overview of a Liability Car Insurance

If you own a car, then it would be best for you to have an insurance. You must not only get one just because it is required in your country and that you just want to obey the law. You should not always think like that. You have to do things because you know that it is right. You are availing an insurance because it is for your own protection and financial security. Remember that when something happens on the road, the law or the authority cannot always give you a financial support.

Even before buying a car for your daily use, you should have thought already about your car insurance coverage. If you met an accident and the road regardless of whose fault it is, things may happen. You may get an injury and your car may get damaged. What if you can’t go to work because of this? Who will pay for the damages done and who will help you with your hospital bills? You can’t even go to work, so how about your earnings?

It could have been better, if every car owner will go to an insurance company and ask for insurance coverage like the Liability Car Insurance. This is a type of car insurance or coverage, where the other party is paid, especially when they are hurt during the accident. This will also pay for the damages on the other party’s property. This insurance is applies when the one insured is at-fault.

Coverage of the Liability Insurance

  • Bodily Injury Liability

If the other party received bodily injuries because of the accident, your insurance company will pay for it. This includes the medical expenses as well as lost wages. And then, if the other party sue you in court, it will pay for your defense lawyer as well as your charges.

  • Property Damage Liability

The insurance company will pay for the damages done to the other party’s property. This includes the vehicle, building or any property receiving damages.

Coverage Limits

  • On the Property

Before availing this type of insurance, you are going to set a limit that the company will pay in repairing the damages that you have caused to the property or properties of another party. The company will not exceed paying the limit that you have set. So, the other party may require you to pay the rest out of your own pocket.

  • Bodily Injury

There is a maximum payout per person who have received the injury. The insurance company will also allow you to set a maximum payout for every accident. This is very important because it would be very helpful to the people, who are suffering from the accident, especially for their medical expenses.

Not Covered by this Insurance

This does not cover paying damages to your own property or if you have received any injuries. SO, it would be best if you are also going to avail an insurance with collision coverage for the damages on your own property. And then, it would be best to also add a coverage for your own medical payments.

 

Everything about Own Damage Car Insurance

Car owners are availing different car insurances from different Car Insurance companies. But, do you understand the coverage of your car insurance? Were you informed about how you are going to apply for it, especially, if you need to claim for your benefit? Anyway, for you to be aware about this, the Car Insurance Company needs to explain the policy to you as a potential client.

If a Car Insurance Agent cannot even explain to you any of your benefit as well as the coverage of the insurance that you are about to avail, then there is something wrong with that company. It may be a form of scam, which is actually widespread anywhere in the world today. You should not let yourself be a victim of those scammers, so you must be meticulous when someone comes and ask you to avail an insurance for your car.

Own Damage Car Insurance

Anyway, one coverage that car insurance companies offer is the Own Damage Car Insurance. This will cover damages on your own car while you are driving on the road. This is also known as the Collision Insurance or Own Damage and Theft insurance. It actually covers two areas. One includes the damages to your own car when you met an accident only. The other one is the insurance against theft.

You have to keep in mind that this kind of insurance does not cover damages to your car, which are caused by natural disasters. And ten, if you lost things inside the car, then that is also not included in the coverage of the Own Damage Car Insurance.

Requirements in making a Claim

When filing for your claim, you have to comply the requirements needed. In such a way, your application will not be denied. After sending your application, an officer will be in-charged in inspecting the damages of your car, so that they can calculate the actual cost of the damages.

  • A copy of the Own Damage Car Insurance Policy
  • The Official Receipt of your premium payment.
  • The police report.
  • A copy of your driver’s license as well as your receipt.
  • A photocopy of the third party’s driver’s license and the receipt.
  • Registration certificate of the vehicle and official receipt.
  • Taken photo of the damaged part of the car and its license plate.
  • Picture of the entire car together with the license plate.
  • Affidavit coming from the Car Insurance Company that must be notarize.
  • The estimate Cost of Repair.
  • The certificate of No Claim, coming from the insurer of the other party.

When you met an accident, you have to make sure that a report will be given as soon as the police officers are done with their investigation. You then, need to contact your insurance company. When an agent will ask you to sign a policy, stating that you are liable for anything that will happen to your car, you must never sign that. A reliable and trusted company will never ask you to sign such statements, except for some sort of scams.