Basics of auto insurance
- Topics:
- Insurance
- Source:
- Business Week Online
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Overview: In exchange for an auto insurance policy that provides a specific amount of coverage, you pay an insurance company a premium. This article also explains some factors which helps you to decide that how much you need to pay in premiums which includes driving records, accidents statistics in the area where you live etc. Auto insurers generally bill you every six months or so in order to have premiums reflect their most recent claims expenses. States often require a minimum amount of insurance coverage for certain categories of auto insurance. Insurance is the business of paying for the transfer of risk. Auto insurers will gladly cut you a break on your premiums if you share in the risk. State governments regulate auto insurance. Each state has its own insurance commission, which regulates rates and handles complaints.
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Format: HTML | Date: Jan 2003 | Pages: 1
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