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you cause a car accident, which type of insurance will require you to pay the least out of pocket?

by Prof. Demetrius Kozey Published 1 year ago Updated 7 months ago
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Insurance and Taxes
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If you cause a car accident, which type of insurance will require you to pay the least out of pocket?A. High deductible plan. B. Low deductible plan. C. Either A or B. D. Neither A nor BB. Low deductible plan
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Full Answer

What are the 3 types of car insurance?

3 Types of Auto Coverage ExplainedLiability coverage. Protects you if you cause damage to others and/or their stuff. ... Collision coverage. Covers your car if you hit another car, person or non-moving object (like those darn ornamental rocks cousin Todd has at the end of his driveway). # ... Comprehensive coverage.

How does liability insurance protect?

Liability coverage helps cover damages you're responsible for to another party because of an accident. That means it doesn't cover damages to your property or your injuries. Your damages and injuries are protected under other coverages such as: Collision.

Which of the following types of coverage would pay for damage to your automobile in an accident for which you were at fault?

Liability Coverage and California Law. Liability coverage helps pay for injuries or damage to others when you are responsible. If you own and drive a vehicle, you must follow the financial responsibility laws in the state Vehicle Code. The most common way to do this is to buy auto liability coverage.

What is liability coverage on a car?

Basically, liability coverage is a part of your car insurance policy, and helps pay for the other driver's expenses if you cause a car accident. It does not, however, cover your own. It's important to note there are two types of liability coverage: bodily injury and property damage.

What does comprehensive general liability insurance cover?

Comprehensive general liability insurance refers to a business insurance policy that provides coverage for customer injuries, customer property damage, and lawsuits related to both.

What is liability only coverage?

What is liability only car insurance? This type of insurance covers a third party's property damage and personal injuries in the event of an accident. Car insurance that only has liability coverage would not cover your injuries and personal property damage as the driver responsible for the accident.

What is comprehensive vs collision?

Generally, collision coverage comes into play because a driver gets into a car accident. Comprehensive is a separate coverage from collision. It helps cover different types of losses that are usually not the result of driving the vehicle, such as theft, hail or fallen trees.

What type of insurance pays for the treatment of injuries and losses to the driver and passengers?

Medical payments or personal injury protection (PIP) This coverage pays for the treatment of injuries to the driver and passengers of the policyholder's car. At its broadest, PIP can cover medical payments, lost wages and the cost of replacing services normally performed by someone injured in an auto accident.

What are the 4 types of insurance?

Following are the types of insurance in India:General Insurance. Following are the various types of general insurance in India: Health Insurance. Motor Insurance. Home Insurance. ... Life Insurance. Following are several types of life insurance available in India: Term insurance. Term insurance with return of premium.

What is the difference between full coverage and liability?

To simplify, liability insurance covers damage you do to others, while full coverage policies cover both your liability and property damage to your own vehicle. Our guide will help you understand the difference between liability and full-coverage insurance and decide how much protection is right for you.

What is an example of liability insurance?

Bodily injury includes any injury to a third party, like a customer or client, that happens at your business. For example, if a customer enters your flower shop, slips on your wet floor and breaks their leg, your general liability insurance can help cover the cost of their medical bills.

What will collision insurance cover?

Collision coverage helps pay to repair or replace your vehicle if it's damaged or destroyed in an accident with another car, regardless of who is at fault. That's different from liability coverage, which helps pay for damage to another person's car from an accident you cause.

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