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Automobile coverage

Automobile coverage
Automobile coverage

Types of automobile coverage are:-

1.Automobile Liability insurance: This insurance protects the insured against the loss arising from legal liability when his or her automobile injures someone or damages another’s property.

2.Medical payment coverage: Automobile medical payment coverage reimbursed the insured and members of the insider’s family for the medical expenses that result from automobile accidents.

3.Physical damages insurance: This insurance covers loss against the policy holder’s own automobile. There are two policies: Act policy and Comprehensive policy.

The major sources of loss exposure arising from the automobile accidents ate:

  1. Legal liability for harm caused to others as a result of negligence
  2. Bodily injury
  3. Property damages

Read a similar article on – What is the need of Automobile Insurance ?

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This article is written by Shaily Garg, a Fourth year B.Com. LLB (Hons.) Student of University Institute of Legal Studies, Panjab University, Chandigarh.