An automobile insurance company provides insurance for cars and vehicles giving a protection to the cars against losses incurred from road accidents. If the repair to a car is costlier than the replacement, the automobile insurance company may declare that vehicle totally destroyed.
There are different policies available in the market specifying the circumstances under which a car is insured. A vehicle or an automobile can be insured against fire damage, theft or accident damage. In many countries having vehicle insurance in compulsory and driving on the road without having one is punishable by law.
Before taking up an automobile insurance, people should go to the internet and find the best rates that are available on the automobile insurance. The automobile insurance rate can vary considerably from one insurance company to another for the same policy.
List of Auto Insurance Companies
|Amica Mutual Auto Insurance||Infinity Auto Insurance|
|USAA Auto Insurance||21st Century Auto Insurance|
|GEICO Auto Insurance�||American Family Insurance|
|Progressive Auto Insurance||Liberty Mutual|
|State Farm Auto Insurance||Erie Insurance|
|Nationwide Car Insurance||Farmers Insurance|
|Allstate Auto Insurance|
Anyone can visit the official website of the insurance company and filling in some basic information one can get the automobile insurance quote. It is advisable to check with more than one automobile insurance company quote and then go ahead with the most suitable insurance coverage.
Comparing the quotes of different car insurance companies is necessary for everyone before taking up an insurance policy. There is no best policy in insurance market as the coverage of the policy may change from one person to another in accordance with their requirements. So, it�s necessary for people to get the most suitable vehicle insurance policy.
The automobile insurance premium may be either mandated by the government or by the insurance company itself depending upon the regulations set by the government. In the cases when insurance premium is not mandated by the government, the insurance company derives it by calculating the available statistical data. Depending upon the expected cost of the future claim the automobile insurance premium varies considerably. There can be some other factors too that can bring some changes in the insurance premium and those are � the type of the coverage selected, car characteristic, the profile of the driver and the car usage. According to the study, the average miles driven by a male driver per year is much more than a woman and the men have higher traffic accident rate than women making the insurance premium for woman drivers lower. Likewise, the teenage drivers have higher automobile insurance premium following their driving record.
Gap vehicle insurance is another type of insurance that ensures the car owner for the difference between what the vehicle insurance company decides on the value of the car and what is really owned on the car. The gap vehicle insurance may be beneficial for those who owe more on a particular automobile than its actual worth.
Last Updated on : 12th Sept. 2013