AUTOMOBILE INSURANCE

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AUTOMOBILE INSURANCE Automobile insurance is a financial product that protects car owners from financial loss in case of an accident, theft, or other damage to their vehicle. It also provides coverage for liability claims arising from injuries or property damage caused to others by the insured driver. This will be in exchange for you paying a premium, the insurance company agrees to pay your losses as outlined in your policy. There are different types of auto insurance coverage available, and the specific coverage you need will depend on your individual circumstances, such as the value of your car, your driving habits, the type and value of your car, your driving record, your age, your location, your credit score, minimum insurance requirements of a particular jurisdiction. Here are some of the most common types of auto insurance coverage: 1- Liability coverage: This covers costs associated with injuries or property damage caused to others by the insured driver. It typically comes in two parts: -Bodily injury liability: Pays for medical expenses and lost wages of people injured in an accident caused by the insured driver. -Property damage liability: Covers repairs or replacement of property damaged in an accident caused by the insured driver. 2- Collision coverage: This covers damage to the insured's own vehicle caused by a collision with another vehicle or object. 3- Comprehensive coverage: This covers damage to the insured's own vehicle caused by events other than collision, such as fire, theft, vandalism, hail, or animal collision. 4- Medical payments coverage: This covers medical expenses for the insured driver and passengers in their vehicle, regardless of who is at fault for the accident. 5- Uninsured/underinsured motorist coverage: This covers medical expenses and property damage if the insured driver is in an accident with a driver who has no insurance or not enough insurance to cover the costs. You may consider consulting with an insurance agent or broker to help you find the right coverage for your needs. #BeNewinsurance #InsurTech #inclusiveinsurance #insurance #reinsurance #takaful

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