Whether you like it or not, your vehicle needs to be insured before you can take it anywhere you want to go. However, obtaining any form of auto insurance will not be that easy. Before you even start looking for Edmonton auto insurance quotes, you should be familiar with the different types of policies which you may get for your vehicle.
Different car owners need different sets of insurance policies. Because of this, a particular insurance coverage might not suit you, but would be perfect for another’s situation, and vice-versa. This just means before you ask for Edmonton auto insurance quotes and pick an insurance coverage, it should be beneficial for you and your car’s current situation.
If you want to know which policies you will need, here is a short overview:
In most countries around the world, the minimum required insurance coverage is liability. In case you get into an accident with another driver, this policy will take care of the potential expenses and damages that he incurred due to the incident. If you think about it, this is certainly a handy policy in case of accident, but unfortunately, it will not cover your own damages.
This is actually an umbrella term for collision and comprehensive insurance policies. Because the basic coverage will not be able to cover the damages to your own vehicle, these policies will take care of it.
Collision coverage, as its name suggests, will cover any damages to your vehicle regardless of fault, as long as the incident was a collision with another automobile. Most banks and shops require this form of insurance especially for financed cars.
Meanwhile, comprehensive coverage functions in a similar way but under different circumstances. This auto insurance policy will only pay for your vehicle’s damages if the incident was not a collision. For instance, vandalism, theft, and damages caused by natural catastrophes may be covered by this insurance policy.
Uninsured/Underinsured Motorist Coverage
We have learned that a driver who is responsible for a vehicle collision will be the one to cover the damages of the other driver through his liability policy. However, if the responsible driver does not have that policy, or his coverage is not enough to pay for the other driver’s damages, then the latter should have uninsured/underinsured motorist coverage. It will be the policy that would cover the victim’s damages while he waits for the compensation of the responsible motorist.
As you may have observed, there are a lot of options if you are looking for car insurance for your vehicle. However, there are specific policies which can bail you out of trouble, whether you were the one who caused the accident or not. You have to take note of these policies whenever you ask for Edmonton auto insurance quotes.
Looking for a trusted insurance provider has become easier these days with the help of the Internet. Just make sure you know which policies you are going to apply for in order to protect your assets when the need arises.