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"What is Auto Insurance • Auto Insurance (or car insurance, motor insurance) is insurance consumers can for cars, trucks and other vehicles. Its main task is to protect against losses. By buying auto insurance, depending according to the type of coverage purchased, the consumer may be protected against:

* The cost for the repair of the vehicle after an accident

* The cost of buying a new vehicle if it is stolen or damaged on economic repair

* Legal liability claims against the driver or owner of the vehicle when the vehicle causing damage or injury to a third party.

Liability insurance applies only to the last point, while comprehensive insurance covers all three. Even comprehensive insurance, however, not fully reflected in the risks associated with buying a new car. Due to the sharp decline in value immediately following purchase, there is usually a period during which the remaining car payments on the compensation the insurer will pay for a "total" (destroyed, or written-off) vehicle. So-called GAP insurance was developed in the early 1980s to protect consumers on the basis of buying and market trends. The escalating price of cars, extended term auto loans, and the increasing popularity of leasing gave birth to GAP protection. GAP waivers protection for consumers when a "gap" between the actual value of the vehicle and the amount of monetary liabilities to the bank or leasing company. In some countries, including New Zealand and Australia market structures mean that people tend to purchase a nearly new car than a new car, so this is less of a problem.

In the United States, liability insurance covers claims against the policyholder and generally, any other operator of the insured vehicle, provided they do not live in the same address as the policyholder and not explicitly on the policy. In the case of people under the same address, they must specifically be covered on the policy. It is therefore necessary, for example, if a family member comes of driving age they must be added to the policy. Liability insurance in general, not the protection of policyholders, if all vehicles other than their own. If a vehicle owned by another party, you fall under that party's policy. Non-owners policies may be offered, for an insured on any vehicle they drive. This coverage is only for those who do not own their own vehicle.

Generally, liability coverage does not extend when you rent a car. However, in most cases only liability applies. Any additional coverage, such as comprehensive policies, ie, "fully" "can not apply. Full coverage premiums on, among other things, the value of the insured vehicle. This cover does not apply to rental cars because the insurance does not want the responsibility for a claim greater than the value of the insured vehicle, provided that a car may be worth more than the insured vehicle. Some states, like Minnesota, you can request that they apply to rental cars. Most rental car companies offer insurance to cover damages to the rental car. In some regions, the costs associated with not having access to the vehicle ( "Loss of Use") is also covered.

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