Auto insurance helps protect vehicle owners against financial losses due to accidents, theft, or damage to their cars. In most places, car insurance is a legal requirement for drivers.
- Example:
Liability Auto Insurance: This type of insurance covers damage to other people’s property or injuries caused by the insured vehicle. For instance, if you cause an accident and injure another driver, liability insurance will cover their medical expenses and the cost of their vehicle repairs.- Collision Insurance: Covers damage to your own car in case of a collision with another vehicle or object (like a tree or guardrail).
- Comprehensive Insurance: Covers damage to your car caused by events other than collisions, such as theft, vandalism, or natural disasters.
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