Impact of Social Inflation for P&C Insurance & Commercial Auto Insurance Costs
The phenomenon of social inflation has garnered a great deal of attention in the property and casualty (P&C) insurance industry
Auto Insurance
10 posts
Basic personal auto insurance is mandated by most states and provides you with some financial protection in case of an accident. But is it enough? What are the options?
Auto insurance is a contract between you and the insurance company that protects you against financial loss in the event of an accident or theft. In exchange for your paying a premium, the insurance company agrees to pay your losses as outlined in your policy. Your auto policy will cover you and other family members on your policy, whether driving your car or someone else’s car (with their permission). Your policy also provides coverage if someone who is not on your policy is driving your car with your consent.
Auto insurance provides coverage for: Property, Liability, Medical.
Autoinsurance coverages are priced individually (a la carte) to let you customize coverage amounts to suit your exact needs and budget.
Policies are generally issued for six-month or one-year timeframes and are renewable. The insurance company sends a notice when it’s time to renew the policy and pay your premium.
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