Info of Car Insurance or Vehicle Insurance

Broadly, car insurance policies cover six high risk categories, the premium payouts are based on the pricing for each of these separately.

• Accident or collision cover
• Bodily injury liability
• Comprehensive
• Medical
• Property damage liability
• Uninsured motorists’ coverage

Accident cover or collision cover – provides accident and injury coverage for policy holder if he sustains injury while travelling in an insured vehicle, along with damages to the insured vehicle.

Bodily injury liability or third party legal liability – a driver may be legally required to pay compensation if his car causes injury to a third person or results in the death of a third person. Most car insurance policies provide cover against legal liabilities that are caused by accidental damages to third person and property. The coverage limit for injuries or death is not fixed and depends on a case-to-case basis.

Comprehensive – some insurance policies cite this as ‘Vehicle Damage’ which includes natural calamities. Comprehensive generally excludes accidents but includes theft, and damage to car from natural calamities such as earthquake, explosion, fire, flood, hurricane, landslide, lightning, falling objects etc.

Medical – also known as Personal Injury Protection (PIP), this covers medical treatment of injuries to the occupants of the insurance holder’s car at the time of an accident. It can extend to include medical or hospital bills, lost wages and some other clauses which may vary.

Property Damage Liability – provides cover against damage by the policy holder to third party property. The coverage for property damage is mostly defined.

Uninsured motorists’ coverage – this covers treatment costs for the insurance policy holder from injuries sustained through accident or collision with an uninsured driver or vehicle. Although not all state insurance rules specify or require that car owners must have insurance to cover all these risks, they recommend minimum liability cover for bodily or personal injury protection and property damage.

Other elements that are included as add-on risks depending on need or request from policy holders are:

• Auto replacement
• Rental car coverage
• Towing coverage

Accident Insurance

Although the original insurance companies were built on the notion that accidents result in bad consequences, this is not always the case. Who, after all, can claim they do not enjoy a bite of a chocolate chip cookie? Have you ever heard someone complaining about eating a potato chip? And what about modern medicine and the amazing cures they provide? Many of these beneficial products were created by… you guessed it – accidents!

Blessed Accidents

• When a cookie business owner realized she did not have the baking chocolate required for her recipe, she improvised by using a standard bar of chocolate. She reasoned that the chocolate would melt in the oven and become equivalent to the ingredient she lacked. Lo and behold, the chocolate bar in the finished cookie product was her claim to fame as the dotting chocolate chip version became an instant success story.

• After discarding an experiment dish in the trash, scientist Sir Alexander Fleming took a second look: why, the utensil was full of mold that continued to break up bacteria around it! The ‘accident discovery’ led to something amazing – a seeming miraculous drug, known as Penicillin that benefits mankind in every nook of the world to this very day!

• Engineer John Hopps thought he could cure hypothermia by inventing a device that would restore a person’s normal body heat temperature. With radio frequency, he chanced upon what we know today as the pacemaker, used by heart doctors all over to save patients’ lives!

• Who wanted a dish of burned groats? Not two brothers who left the scorched pot full of black contents on top of the stove. When the blackened groats became thick and dry, the men took note. Skimming off the moldy parts, they created the very first bowl of cereal made from corn that you can buy off the supermarket shelves in modern times!

• One disgruntled chef at a resort hotel decided to get even with a pesky patron who kept on complaining about the fried potatoes he was served. The chef fried extraordinarily skinny potato slices that were difficult to munch on. Surprise! Surprise! The customer smacked his lips in appreciation of the first delicious round of potato chips!