Title: Auto Insurance
1Auto Insurance
2What is Auto Insurance?
- Auto Insurance or vehicle insurance is purchased
by its owner. - Its primary use is to provide financial
protection against physical damage and/or bodily
injury resulting from traffic collisions and
against liability that could also arise
therefrom. - The rules and regulations of insurance vary from
place to place.
3Various Insurance Coverage Levels
- The insured party (medical payments)
- The insured vehicle (physical damage)
- Third parties (car and people, property damage
and bodily injury) - Third party, fire and theft
- In some jurisdictions coverage for injuries to
persons riding in the insured vehicle
is available without regard to fault in the auto
accident - The cost to rent a vehicle if yours is damaged.
- The cost to tow your vehicle to a repair facility.
4Auto Insurance in States
- Coverages offered by auto insurance companies in
California - 1. The amount of protection given for accident or
injury caused in an accident ranges from 15,000
to 30,000. - 2. Property damage coverage figured out up to
5,000. - 3. Optional coverages offered by auto insurance
companies in California are collision and
comprehensive, medical payments and bodily
coverage of underinsured or uninsured motorists.
5Auto Insurance in States
- Minimum Coverage provided by Virginia auto
insurance - 1. Coverage in one accident or injury is 25,000.
- 2. Coverage in all injuries is 50,000.
- 3. Property damage coverage is 20,000.
6Factors affecting premium amount
- Type of vehicle
- Age of vehicle
- City of Registration
- Peroid of registration
- Applicable discounts if any.
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11Thank You!