What is insurance coverage?
Insurance coverage, also called guarantees, is an advantage that is defined and specified in the private and General terms and conditions of policy contracts. With the help of insurance coverage, the insured person protects himself up to the agreed economic border from the consequences arising from an accident.
In any insurance, insurance coverage or guarantees are the most important thing to keep in mind when you plan to rent it. Look carefully at the risk you are exposed to and which of the best coatings you choose to compensate for the damage caused. If the type of insurance is complex, it is very important to have the advice of a professional, because it will inform and guide you at any time.
Car insurance coverage
According to the law, the main coverage of car insurance is mandatory civil liability, which guarantees coverage of physical and material damage caused by a third-party vehicle. The three General types of car insurance are third-party insurance, extended third-party insurance, and all risks. From there, the insured can add the necessary coverage. Below, I will explain in detail what insurance coverage is included in each type of insurance.
Voluntary Civil Liability. Increases the compensation for mandatory civil liability to 50 million euros.
Legal defense and claim for compensation.
The driver of the accident with medical help.
Third party liability insurance resumed
All the same insurance coverage as third-party insurance with the addition of:
These include coverage specified in third-party insurance and extended third-party insurance. But it also adds coverage for its own damages, which can be caused by the same driver when there is no reverse or bad weather.
Additional car insurance coverage
Vehicle for creating a suspension
Collision with game animals
Revocation of license
Grant, withdrawal of license
Total loss of the car
Compensation for immobilization
Home insurance coverage
Home insurance should cover two risks that the home is exposed to. On the one hand, the damage caused to the house, and on the other-the damage that can be caused to third parties.
Thus, civil liability is important for renting, provided that the person wants to be calm and free from an accident that can have consequences, such as having to pay large financial expenses.
Basic home insurance covers the simplest damage you can have. These coatings are mostly very limited -:
Optional home insurance coverage includes::
Covering jewelry and valuables
Water damage extended
Civil Liability For Pets
Home appliance repair
Crafts and plumbing services
We could classify health insurance into three types: a medical card with no additional charge, and a medical card with payment and reimbursement. In all these options, you have access to a list of specialists and medical centers.
These three methods differ when using medical services. The insured does not pay for any services at the medical table without additional payment if they go to the centers specified by the company.
If you receive a medical card for an additional fee, the insured pays for some of the services that they require, based on the rates that are already set by the insurer.
And for a health card with reimbursement of expenses, the policyholder can contact the center or a professional who wants to and is not included in the pre-set list, since the company will refund most of the cost of the invoice.
The main coverage of medical personnel are::
Unlimited access to centers and specialists listed by the insurance company.
There are some additional guarantees that can be added to the main health card. How:
Health insurance before the beginning of risky activities
Second medical report service
Life insurance is mandatory coverage for hiring, it is death insurance. Thus, if the insured dies, the company pays compensation to the beneficiary. This is the main life insurance. But there are other options that can be added:
Permanent physical damage due to an accident or illness.
Permanent professional damage due to an accident or illness.
Severe diseases such as myocardial infarction, cancer, kidney failure, vital organ transplantation, and brain circulation disorders.
Double compensation capital in the event of an accident.
Insurance coverage is the amount of risk or liability that is applied to an individual or legal entity through insurance services. Insurance coverage such as auto insurance, life insurance – or more exotic forms such as "hole-in-one" insurance-is issued by the insurer in the event of unforeseen circumstances.
Explained 5 types of car insurance
1. liability insurance
Liability insurance covers you if you were injured in an insured car accident and found that the accident was the result of your actions. Liability insurance covers the cost of repairing any property damaged as a result of an accident, as well as medical bills for injuries sustained. In most States, there is a minimum requirement for the amount of liability insurance coverage that drivers must have. However, if you can afford it, it is usually nice to have a civil liability that exceeds the state's minimum liability insurance requirements, as it will provide additional protection in the event that you are sentenced to an accident, since you are liable for any claims that exceed the upper limit of coverage. You would not want to risk having to pay a large amount of money because your policy limit is exceeded.
2. Collision Coverage
If there is a covered accident, the collision coverage will pay for the repair of your car. If your car is totaled (when the cost of repairs exceeds the cost of the car itself) as a result of an accident, the collision coverage will pay the price of your car. .
If your car is older, it may not be worth wearing collision protection, depending on the price. On the other hand, if you have a more expensive car or a newer one, collision insurance can help you get back to where you were before any damage to your car. Note: if you have a collateral holder, this coverage is mandatory.
3. full coverage
What if something happens that is not related to an insured incident with your car-weather damage, you hit a deer, your car is stolen – will your insurance company cover the loss? Liability insurance and collision insurance cover accidents, but not these situations. These situations are covered by comprehensive coverage (other than collisions).
Full coverage is one of those things that is great if they fit into your budget. Anti-theft devices and car tracking can make this coverage a little more affordable, but carrying this type of insurance can be expensive and unnecessary, especially if your car is easily replaced. Note: if you have a collateral holder, this coverage is mandatory.
4. Personal Injury Protection
While comprehensive coverage may be something you don't need to buy, injury protection (PIP) is what you need. The costs associated with an accident can be quickly summarized, and injury protection is available to cover these costs. With this coverage, your medical bills along with those of your passengers will be paid, regardless of who is to blame for the accident. Note: this coverage is not available in all countries.
5. Uninsured / Insufficient Driver Protection
Although state laws prescribe that all drivers must be insured, this is unfortunately not always the case. Another problem that may arise is that while a driver may have liability insurance, many States have relatively low minimum insurance requirements that may not be sufficient to cover all the costs associated with an incident. So if someone is legally liable for damage related to an accident, you will not get any payment if they do not have insurance coverage, or you will get less than necessary to cover the cost of the damage if your damage exceeds the insurance amount. This is the type of situation where uninsured and uninsured driver protection will help with expenses.