Auto Insurance Definition

Almost everywhere laws require that drivers have car insurance. Or any other land vehicle that is subject to a compulsory or financial responsibility law or other motor vehicle insurance law where it is licensed or.

What Is Auto Insurance Iii

A motor vehicle registration method that required the operator of a motor vehicle to carry a card that was stamped by each state that the vehicle was operated in.

Auto insurance definition. Vehicle insurance may additionally offer. Why do you have to buy auto insurance. This insurance helps mitigate monetary harms due to accidents causing damage to the vehicles.

Iso commercial auto and commercial general liability cgl insurance policies any land motor vehicle trailer or semitrailer designed for travel on public roads. Auto insurance provides coverage for. The premium amounts that are payable by the person securing.

More popularly known as motor insurance this type of insurance provides cover for loss or damage to any vehicle like car two wheeler or commercial vehicle etc. Auto as the term is currently defined in insurance services office inc. Vehicle insurance also known as car insurance motor insurance or auto insurance is insurance for cars trucks motorcycles and other road vehiclesits 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.

For example if you run down some poor old lady. Automobile liability insurance only covers injuries or. In exchange for your paying a premium the insurance company agrees to pay your losses as outlined in your policy.

Auto insurance is a contract between you and the insurance company that protects you against financial loss in the event of an accident or theft. A contract for an automobile in which one party agrees to pay foranother partys financial loss resulting from a specified eventfor example a collision theft or storm. Although car insurance protects you it can pay for your loss in the even your car is crashed stolen vandalized or destroyed by fire the laws that require car insurance are designed to protect other drivers and pedestrians from you.

Car insurance synonyms car insurance pronunciation car insurance translation english dictionary definition of car insurance. Financial protection against loss as a result of an automobile accident or theft meaning pronunciation translations and examples. Financial protection for a driver who while operating a vehicle harms someone else or their property.

Property such as damage to or theft of your. Car insurance insurance against loss due to theft or traffic accidents automobile insurance insurance promise of reimbursement in the case of.

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