When you choose a car insurance policy you should fix the time terms and decide whether you need insurance for business or for private needs. The insurance price depends on such factors like age, driving history and the vehicle type. Auto insurance demands can vary in different states. In this article I will describe you some coverage types such as auto insurance for business, "gap" coverage, "no-fault", short term and temporary auto insurance.
You will need business automobile insurance in a case you are a user of a vehicle for business. This policy makes you feel confident about the vehicles you have. Full business car insurance is also useful for professional trailer drivers. The way you use the car determines business coverage rates. Commercial auto policy compensates the damage caused by fire, flood, vandalism, windstorms, theft and disasters. Besides business policy provides all the common options such as liability and collision/comprehensive coverage.
You will need gap auto insurance if you loan or lease a car, and it gets stolen or destroyed by flood, hurricane, accident, fire, vandalism act or theft as a gap appears between the market price your insurance company covers and the amount of the debt for the lease/loan of the car. Gap auto insurance secures the inequality recovered in case of complete loss. Therefore you need this insurance when you lease an auto or bought it and already made the initial payment for it. Sometimes the lease or loan contract already contains this option.
To deal with the uninsured drivers who are not able to pay the damage in cases when they are guilty of the accident you can choose a no-fault car policy. The first party benefit payment is called personal injury protection. But "no fault" rules presuppose a number of requirements too. You can sue the driver who caused the accident in order to get full compensation if the policy payments is lower than your medical expenses. And the driver may advance a claim for injuries and suffering that he's got. The threshold of this policy always depends on how serious injuries are. The requirements may be expressed as a monetary threshold (total amount of medical charges) or as a verbal threshold (verbal description of injury demands).
Short term policy is a very helpful insurance option. You can buy it for events when you want a policy for a vehicle like a moving truck. Short term auto insurance guarantees you compensation for a required period of time. Short term auto policy secures the same options as the full-length policy like full collision repair, medical services and reflect liability compensation. The short term insurance defends you and your car from different risks when you travel by car or borrow a car for short time. Short-time auto insurance policies can be different concerning the time period but they secure the same compensation sum.
When you don't need to use a vehicle permanently, e. g. if you wish to take your friend's auto for a trip, this policy would be suitable. Another case is when you've purchased a car but you haven't decided which full insurance policy you want, you may use temporary car insurance. The usual auto insurance coverage lasts for one year. And this policy is valid for 1 - 28 days and includes such options as "Third Party" and "Fully Comprehensive". But full-length cover shouldn't be replaced with temporary policy for long, as this type of insurance is offered particularly for emergencies.
