Car Insurance Coverage Explained

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Car insurance is a vital part of the American economy as well as our day to day lives. Nearly half of all households have at least one car, and most people are dependent on them for tasks such as getting to work, grocery shopping, and their children’s school. This makes it important to maintain good Car insurance coverage in Thailand in the unfortunate event that you need help with a car accident or other similar incident.

Why do we need auto insurance?

The main reason that you might need auto insurance is if you cause an accident. If a driver causes an accident that results in injuries or financial losses to a third party and they are found at fault, they will likely be held liable for compensation or damages and will be required to pay. Initially, the driver who caused the accident is also required to pay any compensation or damages owed, but in some states this isn’t always applicable. In these states, their insurance company would be required to pay for the accident. In this case, it’s because the insurance company has already agreed to pay a specified amount for the loss in case of an accident.

Types of auto insurance

There are several different types of auto insurance that protect you and your car in different circumstances. Some auto insurance providers will offer a comprehensive policy, which is meant to cover any loss that results from a collision, theft, vandalism or any other accident. Comprehensive coverage usually covers the cost of repairs and parts for both your car and any other vehicle involved in an accident.

Online Car Insurance in Thailand

Another type of auto insurance is collision coverage. Collision coverage will provide for the repair or replacement of your car if you are at fault for causing an accident with another vehicle.

The third type of auto insurance is liability coverage. Liability coverage will pay for the losses that result from an accident regardless of fault, so if your car is damaged, you might be required to pay for repairs and have to pay the other driver’s insurance company.

How much do I need?

In general, the amount of auto insurance you need will depend on your age, car type and driving history. Some insurers also have different rates based on your credit rating, as well as if you are a male or female driver.

Are there other discounts I can get?

Auto insurance is not a one size fits all product. Just like with any insurance, the cost varies from one person or company to another. There are a number of different auto insurance discounts that you should keep in mind when you’re shopping for auto insurance in case you qualify.