Auto insurance is a
form of insurance available to consumers who own cars, trucks and other vehicles.
It covers the insured party against the risks involved in owning or driving a
vehicle. This may be a car accident, damage caused to other cars or property,
loss to passengers in your car, and damage to your car itself.
A perfect example of
this is the automobile or car insurance marketplace. In the past, if
you wanted to get the most competitive quotation for your car insurance,
you had to shop around by trudging from one insurance broker or companys office
to another, or by getting on the telephone to do the same thing.
The problem with this
was that it was often difficult, if not impossible to know whether you were
truly comparing like with like. There were (and, to a large extent, still are)
so many potential variations from one companys policy to another that it was
almost impossible to know whether the two policies that you were comparing
really did offer identical levels of protection and benefits.
This was not always a
bad thing. For example,all car insurancecompanies tend to load the premium
(i.e. charge extra) for young drivers to be included on a policy, which can be
bad news for parents using the family car to teach their son or
daughter to drive. However, Company A may define a young driver as someone
below the age of 18, whereas Company B will use a threshold of 21 years of age
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