In general, there are three main types of vehicle insurance coverage. They are medical, liability, and vehicle-based. Depending on the area that one resides in, for example, Chicago, vehicle insurance coverage in some form may be required or optional. The following paragraphs provide basic explanations of the most common types of coverage.
Coverage for Medical Payments
Medical payments coverage is also sometimes referred to as medical and funeral services payments. After an accident, this type of coverage can help with medical expenses for the driver, passengers, and other drivers on the same policy. Some policies include coverage in instances of being struck by a car when cycling or walking. There is also another type of coverage labeled PIP coverage, which stands for personal injury protection. This coverage is offered, and in some cases required, in no-fault states. Some of the specific coverages are rehabilitation, lost wages, hospitalization, and other types of medical expenses. The exact items that are covered vary widely by state.
Liability coverage
This type of coverage is required legally in almost all states. This type of coverage comes into play if one is found to be at fault in an accident. It covers property damages, medical expenses, and lost wages for other drivers in the accident. There are also state-set minimum limits that come with this type of coverage. Chicago vehicle insurance coverage would include this type.
Vehicle coverage
There are three main categories for vehicle coverage: comprehensive, collision, and ERS (emergency roadside service) coverage. Some of the causes of damage to a vehicle that are covered by comprehensive coverage include fire, theft, vandalism, and natural disasters. Collision coverage helps to pay for damages to the vehicle of the driver at fault in an accident. ERS coverage helps with towing and other roadside service costs.
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