Auto Insurance is an insurance which protects the insured against losses while using automobiles. Auto Insurance is also known as Autmobile Insurance or Car Insurance. In US, the monthly premium amount for Auto Insurance price quote differs widely and it depends upon several factors.
Major factors are listed below:
Driving history in USA.
Accidents that insured has been involved in.
The state, county, city in which insured live.
State Government rules and regulations.
Auto Insurance agencies. Some insurance agencies provide cheaper quotes if the insured has 5 years of driving history in USA.
Car that insured owns; If the insured own two cars, then the quote would be cheap when compared to a single car.
Insured's marital status; If the insured is married, then auto insurance agencies assume that insured has responsibility and chances of occurence of an accident is less.
Condition of the car; i.e old car or new car.
Major coverages that can be bought from Auto Insurance Agencies are included below:
a) Liability Coverage:In general, Liability is the legal responsibility of the insured. If the insured does some mistake and hits another car, then the insured is liable for the other person's car damage, bodily injuries. In liability, Bodily injury and property damage are the coverages. Liability coverage will pay for the medical expenses, lost wages, and damages caused when the insured is at fault in an accident.
If the insured takes a coverage of 100:300:100, and if an accident occurs, then the insurance agency would pay bodily injury protection of upto $100,000 per person, $300,000 per accident, and property damage of $100,000.
If the insured is at fault and the damages total more than the amount of insured's insurance coverage, then the insured is liable for the remaining amount.
Personal Injury Protection(PIP)