What is Car Insurance?
An auto insurance is your security against financial losses you might incur in cases of accidents. An insurance is a contract executed between you and your insurance provider. In exchange for regular premium payments, the insurance provider agrees to pay for coverages as defined in the policy agreement.
Among the benefits provided by an Auto insurance are liability, property and medical coverages. Property covers damage to your vehicle, liability covers your legal responsibility to damage of other�s property or body and medical pays for the cost of treatment and may also extend to funeral benefits depending on the extent of coverage stated on the policy.
Source: iii.org