What is auto insurance?

Answer 1

This is insurance which protects the insured against losses involving the use of automobiles. Various coverages may be bought depending on the desires of the insured. Such coverages include the liability coverages of bodily injury, property damage, and medical payments, and the physical damage coverages of collision and comprehensive.

Auto insurance requirements vary. If you're not sure what's required in your home state or country, or you're moving, educate yourself on your state's or country's minimum auto insurance requirements and plan to exceed them. (If you're involved in a serious accident, carrying the minimum requirements won't cover your losses!)

Auto insurance helps you to protect you and your family against financial loss in the event of an accident or other cause of loss.It covers the injuries and damages caused by an accident and for which you are legally responsible.

Answer-

Auto insurance is a protection that protects the owner of vehicle against financial loss if vehicle have accident. It is a contract between vehicle owner and auto insurance company. The vehicle owner pays the fix amount of premium to the auto insurance company and in exchange the insurance company pays to the vehicle owner against loss as mentioned in the insurance policy. There may be various types of auto insurance coverage such as property damage coverage, vehicle body injury coverage, collision coverage, personal injury coverage and more.