What is covered by a general vehicle insurance policy? This is a basic question most people ask themselves when contemplating on the necessity of a vehicle coverage policy. The main thing you should be aware of is that some states and countries have laws that demand you to be insured when it comes to driving a vehicle. However, keeping that information a side, you should have an idea of what an insurance policy covers. There are a couple of main aspects that motor coverage protects, and this article will provide you with that information.
Personal medical coverage
This protection is extended to your own body and the medical issues relating to the passengers in your vehicle. Your protection policy will usually cover most personal injuries resulting from an accident. This relates only to the passengers and driver of the vehicle that is insured. This can also cover funeral costs if someone dies as a result of the tragic accident. Majority of the types of coverage are priced separately, and you can be notified of these rates in a car insurance quote in Singapore you can request from the company.
Bodily injury compensation
This is related to only you; the policy holder or vehicle owner. This basically covers payments related to any and all bodily injuries that occurred as a result of your driving. This kind of liability insurance is absolutely vital, so you have the ability to compensate people involved in the accident. This is especially necessary because of the risk of getting sued if the accident was your fault.
Property damage liability
This protection covers any damage that you, as the driver or policy holder, might cause to any property around you. Property damages are common when it comes to vehicle-related accidents, and for this reason, it is important that you are protected against it. Once again, these damages can result in some kind of lawsuit, so you should be protected to deal with such issues. Rates for this kind of coverage can also be found on basic car insurance quotes.
This focuses mainly on any damages to your own vehicle. This can be due to impact and collision with another vehicle, piece of property, or person. The damages to your vehicle, as the policy owner, can be extensive. Not everyone can afford to have emergency money saved up for such instances. For this reason, it is quite valuable to have a paid premium policy that you can depend on in an emergency. The best thing about this assurance is that even if the accident was your fault, you will still be compensated, ensuring that you can get your automobile repaired.
These are the most basic types of coverage that are included in an average car insurance policy. These different aspects might be priced together in different packages, or more commonly, priced separately. You can pick and choose what you need, while adhering to state regulations, and create the perfect package for you.