LIABILITY, COLLISION & COMPREHENSIVE

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LIABILITY, COLLISION & COMPREHENSIVE These are the three main types of coverage available in an auto insurance policy. Liability pays other people if you’ve injured them or damaged their property. Collision pays to repair damage to your car caused by collisions. Comprehensive pays you for your losses due to theft and other calamities that are unrelated to collisions, such as damage from hail, fire, vandalism, floods, etc. Breakdown for Each; 1. Liability Coverage: -Protects you financially from legal costs and damages if you cause an accident and injure someone else (bodily injury liability) or damage their property (property damage liability). -Minimum limits are required by most states to drive legally. These vary by state, but typically cover a minimum amount for bodily injury per person and per accident, and a minimum amount for property damage. -Consider purchasing higher limits than the minimum required, as medical bills and repair costs can quickly exceed those minimums. 2. Collision Coverage: -Pays to repair or replace your own vehicle if it's damaged in a collision with another car, object, or while flipping over (rollover). Covers situations where you are at fault for the accident. -Optional coverage, but can be valuable if your car is financed or leased, as the lender may require it. 3. Comprehensive Coverage: Pays to repair or replace your car if it's damaged by something other than a collision. This includes: Theft, Vandalism, Fire, Weather events (hail, flood, etc.), Animal collisions (deer, etc.), Falling objects (trees, etc.). It's recommended to consult with a licensed insurance agent or broker to discuss your specific needs and get personalized recommendations for the most suitable combination of Liability, Collision, and Comprehensive coverage for your car insurance policy. #BeNewinsurance #InsurTech #inclusiveinsurance #insurance #reinsurance #takaful

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