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Vehicle Insurance
Vehicle insurance, (also referred to as auto insurance, automotive insurance, automobile insurance, car insurance, and motor insurance) is insurance purchased by consumers for the express purpose of securing protection from losses incurred to their vehicles in the event of theft or traffic accidents. Standard vehicle insurance policies may cover the insured party, the insured vehicles, and third party individuals and vehicles involved in automobile accidents.
For instance, if the holder of a vehicle insurance policy is involved in an automobile accident and the authorities determine that the insurance policy holder was the party responsible for the occurrence of the accident, that individual's policy might cover the damage incurred to their vehicle as well as the damage caused to the vehicle of the person with whom they collided. The number of times in which a holder of an insurance policy has been involved in a collision is taken into account by the insurance company in evaluating that individual as a risk and thus is a factor in determining the premium or cost of the insurance policy itself.
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