Automobile insurance – types and peculiarities
Car insurance is a kind of insurance, the object of which is motor vehicle. This category of insurance covers cars, trucks, buses, motorcycles and other land transport. Moreover, car insurance also covers people – drivers and passengers.
Types of auto insurance
Auto insurance can include the following types:
- insurance of a driver and passengers of the vehicle in case of accidental injury;
- health insurance of costs in case of an accident;
- life insurance;
- KASKO – vehicle insurance against damage or usability in the result of an accident;
- OSAGO – insurance of civil liability of the owner or the driver of the vehicle.
The insurance covers the cost of damage to other vehicles or people affected by the accident, which occurred due to the fault of the insured.
Peculiarities of car insurance
At the rates of car insurance you can insure any Ukrainian or foreign vehicle brands – passenger cars, trucks, buses, motorcycles, trailers etc.
Auto insurance contract may be concluded for one year, a shorter period, until the first insured event, with the responsibility on the days-off in the format of "guilty- not guilty”, with limited liability in winter months.
Types of insurance risks covered by auto insurance:
- all risks car insurance – theft or damage to the vehicle;
- insurance of damage (only);
- insurance of additional equipment installed in the vehicle in excess of original equipment;
- civil responsibility of the driver. This insurance covers the damage not covered by the programof vehicle ownercivil responsibility;
- accident insurance. It affects insurance cases in which people were injured or killed in a traffic accident.
How is auto insurance rate formed?
Auto insurance rate is influenced by several factors:
- brand and model of the car;
- price of the car and additional equipment installed on it;
- year of manufacture;
- driving experience of the drivers admitted to operating the car;
- number of vehicles and drivers covered by insurance;
- period of insurance contract;
- existence and amount of franchise;
- amortization of the vehicle;
- method of payment;
- number of risks covered.
Insurance payments under the contract of car insurance cover damage resulting from accident, fire, exposure to the nature forces, loose stones, objects falling on the car, actions of third parties, and car theft.
You can sign a contract in which the insurance company will compensate for the damage or loss of additional equipment, as well as personal injury or death of the driver or passengers.
In most cases, under the contract of car insurance companies provide their customers with road assistance services, that is specialized help.
Car insurance gives you confidence, saves you time and money in case of insured event. The cost of insurance premiums is less than the costs of a necessary repair and especially the purchase of a new vehicle if the owner has no auto insurance contract.