There are different types of car insurance depends on the risks they cover.
characteristics
The car insurance establishes the conditions under which the insurance company will pay compensation for direct or indirect damages caused or suffered by a car while it was circulating.
We must analyze what it truly includes and for that it is important not to skip the Small Letter. Because at the time of the incident we can find the surprise, that our coverage is quite different from what we thought. Let's start with the principle and analyze the types of insurance.
Insurance according to coverage
The usual Car Insurance is a sum of several insurance and depending on what it contains will be the type of coverage you receive.
The guarantees are divided according to what or to whom the damage affects:
When they affect people:
- Mandatory Civil Liability
- Voluntary Liability
- Legal defense
- Driver Insurance
- Travel Assistance
When affecting the vehicle:
- Own Damage
- Stole
- Fire
- Moons
The complementary ones
- Defense in fines
- Withdrawal of the Driving License
- Repair Loan
- Replacement vehicle
- Great damage
Types of Car Insurance
But when it comes to taking out insurance, we will find other denominations depending on the different insurance companies that meet according to the modality of hiring:
- Third Party Insurance
- Third Party Insurance Extended / Combined
- All Risk Insurance
- Complementary Insurance: Defense in case of fines, Removal of Driver's License, Repair Loan, Replacement Vehicle and Major Damages
- Franchise All Risk Insurance
This way of grouping the different insurance came from insurers in order to market their policies. They looked for the best way to offer their policies and with the conformation of packages mixing different coverings, they seemed an attractive option. The different denominations respond to the coverage they provide and to facilitate recognition by customers regardless of the insurer of their choice.
