What are the 5 types of vehicle insurance?

What are the 5 types of vehicle insurance?

5 Types of Car Insurance Coverage Explained

• Liability Insurance.
• Collision Coverage.
• Comprehensive Coverage.
• Personal Injury Protection.
• Uninsured /Underinsured Motorist Protection.

What are the 3 types of motor insurance?

There are three main types of car insurance:

• Third-party.
• Third-party, fire and theft.
• Comprehensive.

What are 4 main types of automobile coverage insurance?

Six common car insurance coverage options are: auto liability coverage, uninsured and underinsured motorist coverage, comprehensive coverage, collision coverage, medical payments coverage and personal injury protection. Depending on where you live, some of these coverages are mandatory and some are optional.

What are the 7 types of insurance coverages to have?

Here are the seven most common types of insurance that every individual needs — or, at the very least, needs to consider.

• Health Insurance.
• Life Insurance.
• Disability Insurance.
• Long-Term Care Insurance.
• Homeowners And Renters Insurance.
• Liability Insurance.
• Automobile Insurance.
• Protect Yourself.

What is a motor insurance policy?

Motor Insurance is a type of insurance policy which covers your vehicles from potential risks financially. Policyholder’s car or two wheeler is provided financial security against damages arising out of accidents and other threats.

What are the 4 types of insurance?

Following are the types of insurance in India:

• General Insurance. Following are the various types of general insurance in India: Health Insurance. Motor Insurance. Home Insurance.
• Life Insurance. Following are several types of life insurance available in India: Term insurance. Term insurance with return of premium.

How many types of motor insurance are there?

Amount of insurance coverage – Motor insurance plans can be divided into three types based on the amount of insurance protection offered: Third-party liability insurance – This is the most basic form of car insurance and hence, it is also the cheapest.

Which type of car insurance is best?

Comprehensive car insurance policy Comprehensive car insurance is the most extensive policy type and covers third-party liabilities as well as own damage costs, loss due to theft, natural disasters etc. You will receive the IDV or the total market value in case your vehicle is stolen or damaged beyond repair.

What are the standard auto insurance coverages?

Standard Coverage

• $100,000/$300,000 Bodily Injury.
• $50,000 Property Damage.
• $5,000 Medical Payments.
• $30,000/$60,000 Uninsured/Underinsured Motorist – Bodily Injury.
• $250 Comprehensive Deductible.
• $500 Collision Deductible.
• Waiver on Collision Deductible.

What are the four types of policies available in Nigeria motor insurance market?

There are various types of Motor Insurance Policies available which includes:

• 1) THIRD PARTY INSURANCE. This is the most basic form of Motor Insurance and hence, it is also the cheapest.
• 2) COMPREHENSIVE MOTOR INSURANCE LIABILITY.
• 3) WHAT IS NOT COVERED.
• 4) ECOWAS BROWN CARD.

What are the 2 types of insurance?

5 Different Types of Insurance Policies & Coverage That You Need

• Health Insurance.
• Car Insurance.
• Homeowners or Renters Insurance.
• Life Insurance.

What are the different types of policies?

The following are the various types of policies:

• ORGANIZATIONAL POLICIES. These refer to the overall policies of the organization.
• FUNCTIONAL POLICIES.
• ORIGINATED POLICIES.
• APPEALED POLICIES.
• IMPOSED POLICIES.
• GENERAL POLICIES.
• SPECIFIC POLICIES.
• IMPLIED POLICY.