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There are Four types of auto insurances
There are Four types of auto insurances
Bodily Injured Liability:-
Bodily Injured Liability:-
This Coverage can pay the other person or persons involved in an accident that you caused for pain and suffering.
This Coverage can pay the other person or persons involved in an accident that you caused for pain and suffering.
Property Damage Liability:-
Property Damage Liability:-
This can help pay for damages that you cause to the property of someone else, such as their car, house or fence.
This can help pay for damages that you cause to the property of someone else, such as their car, house or fence.
Collision Coverage:-
Collision Coverage:-
When your automobile is damaged in an accident with another car or an object like a tree or fence, collision insurance can assist cover the cost of the necessary repairs or replacements.
When your automobile is damaged in an accident with another car or an object like a tree or fence, collision insurance can assist cover the cost of the necessary repairs or replacements.
Comprehensive Coverage:-
Comprehensive Coverage:-
Will compensate for the car damage caused by something other than a collision such as theft, fire, windstorm and hit by an animal.
Will compensate for the car damage caused by something other than a collision such as theft, fire, windstorm and hit by an animal.
From the above graph we can analyze that bodily Injury claims have been on rise constantly from 2010 to 2020, whereas Property, collision and comprehensive have been lightly steady comparatively.
Which Auto insurance claims are most expensive?
Unsurprisingly, bodily injury claims are the most expensive, costing an average of $16,260 per loss. Property damage is the second most expensive claim, costing $3,729 per loss, followed by collision at $3,278 and comprehensive at $1,690.
The Maserati Quattroporte is the most costly car to insure in 2021, costing an average of $419 per month — or a whopping $5,024 yearly. This is 239% greater than the national average auto insurance premium.
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