Personal Automobile Insurance
Why
you should buy auto insurance.
For
most of us, our cars are one of the biggest investments we make, and to
experience a loss could be financially devastating. Auto insurance can cover
more than just the repairs on your vehicle. Depending on the coverage you
choose, your insurance can:
·
Cover medical expenses
associated with
an accident.
·
Pays
for losses caused by underinsured or uninsured drivers.
·
Reimburse you for damages
or theft.
Understanding Motor Car Insurance Terms
Every motor
car policy offers certain coverages. Here is a quick reference guide for
the terms most-commonly used terms. You should, however, read your own policy
carefully and take the time to review it.
Common Auto Insurance Terms
Third Person Liability (TPL): If you injure someone in a car accident,
this coverage
pays that person's medical and rehabilitation expenses, up to P50,000.00.
Property Damage Liability: If you are at fault in an accident and you
damage someone
else's property, this coverage pays to fix it.
Medical Benefits: This coverage pays medical bills for you
and others
covered on your policy, no matter who was at fault in the accident.
