Nobody wants to get involved in a car accident. However, if you drive a car, then you are not safe. The risk of getting involved in a car accident on the roads is high. That is why auto insurance in Toronto exists. There are a lot of various types of auto insurance that covers the certain needs of a certain driver. It could help protect your car, your passengers, and you in the event of a vehicular accident.
In most states in the United States, this is required. You will be required legally to buy at least the least liability coverage amount set by the state. This type of auto insurance has 2 parts:
- Property Damage Coverage – This might help cover the costs of the damage you caused to the property of another individual.
- Bodily Injury Coverage – This might help cover the costs associated with the injuries you made to another individual using your vehicle.
Underinsured and Uninsured Motorist Liability
In the event that you are involved in an accident with another vehicle and the driver of the other car does not have insurance, then uninsured motorist liability might cover the costs for your medical bills. It will cover the repair cost to your car in several states.
On the other hand, if you are involved in an accident with an underinsured driver, this means that their insurance isn’t enough to cover all the costs. That’s why underinsured motorist coverage might help.
Unlike liability coverage, comprehensive insurance will cover the costs of repairs to your car done by vandalism, natural disasters, fire, or theft. This insurance will also cover the cost to repair or replace your car if your vehicle is damaged by a covered liability.
This type of coverage is typically optional. However, if you are just lending a vehicle, then you might be required to have one.