Auto Insurance (USA)


„Auto Insurance provides property and liability insurance coverage for the following  personal automobiles:
•Private Passenger
•Pick up Trucks
•Trailers
•Golf Carts
•Snowmobiles
•Motorcycles
Auto insurance coverage can be:
Auto Liability coverage
Bodily Injury – Covers the medical expense of the passenger or the person in the car that insured hits.
Property damage – covers the damaged vehicle of the victim.
Unauthorized motorist BI (UMBI) – If insured is met with an accident and fault is with another driver with no insurance then it will cover the medical expense, cost of damage for you.
Under insured motorist BI (UNDBI) -  If insured is met an accident with another person at fault and his insurance is not sufficient to cover your loss, this coverage will cover for the difference in the expense
No-Fault Insurance (PIP) - Each driver collects from their own insurance company for medical expenses, lost wages, and related injury costs.
Auto Physical damage coverage
Comprehensive – Covers the vehicle that you are driving other than collision
Collision – Covers the vehicle that you hit or hit by another vehicle
Towing – covers the penalty in case your vehicle get towed.
Rental reimbursement – covers the rental charge that you will use for the short period until the vehicle recovered from damage
Auto insurance Premium factors
Automobile type.
•Year, make, model, and theft rate.
Rating territory.
•Accident, auto theft, and vandalism rates in the area where you live.
Driver classification.
Age, sex, marital status, credit history, driving record, and driving habits
Customer types
Super Preferred
Preferred
Standard
Non Standard
Loss Types
Accidents
At fault accident: Accident that  happens due to the fault of insured person or by driver.  (All Other accidents).
Not at fault accident: Accident happens due to the third party.
Violations/convictions: 
This mainly deals with violating rules.
Major violation, Minor violation, Defined Major Violation
Comprehensive losses: 
These losses due to fire, theft, hitting the flag pole, snow fall, missed and does not involve bodily injury

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