Types of automobile coverage are:-
1.Automobile Liability insurance: This insurance protects the insured against the loss arising from legal liability when his or her automobile injures someone or damages another’s property.
2.Medical payment coverage: Automobile medical payment coverage reimbursed the insured and members of the insider’s family for the medical expenses that result from automobile accidents.
3.Physical damages insurance: This insurance covers loss against the policy holder’s own automobile. There are two policies: Act policy and Comprehensive policy.
The major sources of loss exposure arising from the automobile accidents ate:
- Legal liability for harm caused to others as a result of negligence
- Bodily injury
- Property damages
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