Vehicle insurance is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. Vehicle insurance may additionally offer financial protection against <atheft< a=””> of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as keying, weather or natural disasters, and damage sustained by colliding with stationary objects. The specific terms of vehicle insurance vary with legal regulations in each region.</atheft<>
WHY IS VEHICLE INSURANCE NECESSARY?
Having vehicle insurance is a legal requirement and with the right level of cover, provides financial protection in the event of your vehicle being damaged. It will also provide cover for injuries to other drivers, passengers or pedestrians, and their property.Accidents happen, so it’s reassuring to know that you’re covered financially if you’re involved in one.
It covers your expenses in the event of vehicle damage or injuries to other drivers, passengers or pedestrians.All motorists must be insured against their liability to other people, as stipulated in the Road Traffic Act 1988. Insurance can also provide financial support if your car is stolen, vandalised or destroyed by fire.
HOW DOES VEHICLE INSURANCE WORK?
When you buy insurance, your insurer or agent will ask some pretty basic questions about you and your vehicle, and then you’ll have some options when picking coverages. All of these factors impact your price. Generally, more coverage means a higher price. Then if you have damages or something happens, you can file a “claim” with your insurer–that’s just an insurance term for asking the company to pay for something. If it’s covered, your insurer will then pay for the damages or losses up to certain limits.
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