What Is Third-Party Fire & Car Theft Insurance? Part of the series: Insurance Tips & Facts. Third-party fire and car theft insurance provide coverage when the insured hit another person's car, causing damage to the other person. If a car is stolen and catches on fire, the insured will also be covered under this insurance. Contact an insurance representative about car theft insurance with tips from a financial adviser and insurance broker in this free video on car insurance.

Car insurance is also known as vehicle insurance, motor insurance, or auto insurance is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. Car insurance may additionally offer financial protection against theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as keying, weather or natural disasters, and damage sustained by colliding with stationary objects. The specific terms of vehicle insurance vary with legal regulations in each region.]

Common Car Insurance coverages
Comprehensive

Also known as “other than collision,” this coverage can help pay for damage to your vehicle from vandalism, theft, weather events, and accidents involving animals.

Collision

Regardless of who’s at fault, a collision can pay for damage to your vehicle if you hit another vehicle or object, another vehicle hits you, or your vehicle rolls over.

Gap coverage

Gap insurance may help you cover the “gap” between what you owe on your car and your car’s actual cash value.

Uninsured motorist

If an uninsured or underinsured driver causes an accident that results in property damage and/or bodily injury, uninsured motorist coverage may help pay for damage and medical costs for you and your passenger(s).

Bodily injury liability

If you cause an automobile accident that results in injuries, bodily injury protects you by paying for damages you may become legally liable for as a result of the accident, including medical bills and loss of income for the injured party.

Roadside Assistance

Roadside Assistance coverage may even be available when you and your family household members are passengers in someone else's vehicle, or during a roadside emergency in which your vehicle is disabled.

The most common types of car insurance

There are six main types of car insurance coverages that are available when you purchase a policy, which include:


Bodily injury liability

Medical payments or personal injury protection (PIP)

Property damage liability

Collision

Comprehensive

Uninsured and underinsured motorist coverage

Car Insurance in the USA
Vehicle insurance, car insurance, or auto insurance in the United States and elsewhere, is designed to cover the risk of financial liability or the loss of a motor vehicle that the owner may face if their vehicle is involved in a collision that results in property or physical damage. Most states require a motor vehicle owner to carry some minimum level of liability insurance. States that do not require the vehicle owner to carry car insurance include Virginia, where an uninsured motor vehicle fee may be paid to the state, New Hampshire, and Mississippi, which offers vehicle owners the option to post cash bonds. The privileges and immunities clause of Article IV of the U.S. Constitution protects the rights of citizens in each respective state when traveling to another. A motor vehicle owner typically pays insurers a monthly fee, often called an insurance premium. The insurance premium a motor vehicle owner pays is usually determined by a variety of factors including the type of covered vehicle, marital status, credit score, whether the driver rents or owns a home, the age, and gender of any covered drivers, their driving history, and the location where the vehicle is primarily driven and stored. Most insurance companies will increase insurance premium rates based on these factors, and less frequently, offer discounts.

Top Car Insurance providers in the USA
can insurance in the United States
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In the United States in 2017, the largest private passenger vehicle insurance providers in terms of market share were State Farm (18.1%), GEICO (12.8%), Progressive Corporation (9.8%), Allstate (9.3%), and USAA (5.7%). Insurance is secured either by working with an independent insurance agent or with an insurance broker who is authorized to sell insurance policies. Some can represent several agencies or a growing number of online brokers who provide policy purchases through online sites.

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