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Persons Protected By Personal Auto Policy And Its Accompanying Coverage
A Personal Auto Policy (PAP) is a typical type of insurance policy covering a private vehicle owned by the insured person
. The vehicles that are covered by the policy can either be newly acquired car or temporary substitute. Aside from the policy holder, other persons may also be protected namely:* Driver
* Family members
* Passengers
As long as the person is riding inside the driven vehicle at the time mishap occurred, all of you are covered. If you allow your car to be borrowed by any of your friends or associates and then, something happened; they are covered as long as there is consent from the owner. This type of insurance is a combination of several policies used to cover all of the abovementioned people as well as properties. This policy is designed to showcase the following coverage:
Liability Coverage
Although this policy covers only those who are riding the driven auto, but since this has attached liability coverage, this allows you to pay the legal responsibilities incurred. In the event that you have injured an innocent victim while you are driving or caused damage to property; you are obliged to pay for it using this compensation. At times, may also use this coverage to pay for any lawsuit that may be filed against you.
Medical Payment Coverage
Medical expenses may be covered by this policy if and when the injured is your passenger, person riding in a public utility transportation, or a pedestrian crossing that has "no fault at all" or is innocent at the time of the accident. However, it has to be proven that the vehicles is intended for regular road use such as automobiles, bus, cab, and the likes and not heavy equipment as well as motorcycle.
Uninsured motorist
In case you suffered injury caused by uninsured motorist, having this type of policy will help you avail of the compensation from your insurance company. However, there are some provisions clearly stating that the driver at-fault must not have any type of insurance, a victim of hit-and-run, or is insured with a less than the prerequisite minimum.
Underinsured motorist
In some cases where the concerned driver has inadequate coverage to pay for the damages and losses, you may avail of the underinsured policy so that you can collect from your own insurer up to the specified limits.
Physical Damage Coverage
Consist of 2 types, the Comprehensive and the Collision coverage. The former covers damages caused by any form such as fire, hail, animals, vandalism, theft, falling objects, and more except for collision while, the latter is caused by vehicular accidents. The cost of repair or replacement in case of newly acquired cars is generally covered by this type of policy.
Because it encompasses a great coverage, it is expected that this type of policy is a bit pricey than the other policies.
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