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Auto Insurance A Necessary Expense?

Life has become so complicated nowadays that people have to multitask and perform different functions and roles all at one time. The increasing population as well as the diversified activities of man has made efficient transportation a must.

People who have to go to work everyday have the option to purchase their own vehicles or to take the public transportation. There are pros and cons to both choices. Taking the public transport would mean having to wait up for bus or train schedules and to race for available cabs. Driving their own cars would however mean having to face parking problems and high fuel costs.

While owning and driving your own car has its disadvantages like additional expenses for fuel, insurance and car maintenance, most people prefer to have their own cars for convenience purposes. Once they get their automobiles they realize that there are some important aspects of owning a car such as getting auto insurance.

Auto insurance is actually a contract between the car owner and the insurance company which requires the owner to pay a premium in exchange for financial coverage in case of an accident. Auto insurance is an assurance to the car owner that if anything happens to his vehicle, he will be reimbursed by the insurance company depending on the loss.

Auto insurance provides a variety of coverage including insurance support for the vehicle in case it is lost through theft or destroyed in an accident. There are auto insurance packages that also provide medical support to the owner and the car passengers in case of an accident. Sometimes, the insurance also offers third party liability.

People who get involved in car accidents and who are proven guilty of causing injury to others can rely on their auto insurance policies to cover the cost of medical bills, auto damage and even compensation for the other parties.

While there are different kinds of auto insurance coverage, it is really up to the owner which insurance coverage he wants to avail of. However, if the car is financed then the finance company will have a say as to which kinds of insurance coverage should be taken by the owner.

Auto insurance coverage usually lasts between six months to a year. Car owners should be careful where they get their auto insurance from because there are companies that are not really faithful in paying their responsibilities. Make sure you only get auto insurance from companies that will be able to pay your coverage.

The amount of premium the car owner has to pay depends on the auto insurance coverage or package. If the car and the owner do not figure in any accident during the covered period then the premiums paid are forfeited and the insurance company does not have any obligations to pay any insurance beyond the period covered unless of course the auto insurance policy is renewed.

Submitted by:

Dennis Conner

The author is a regular contributor to Excel Auto Insurance where more information about car insurance is available.




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