Learn the basics of car insurance, including what it is, why you need it, and common terminology. We cover different types of car insurance coverage, factors affecting insurance premiums, and optional coverages.
Car insurance explained. A guide on understanding auto insurance basics and why it is essential to have it. Car insurance is a type of contract between the policyholder and the insurance company, wherein the policyholder pays a premium to the insurer to cover certain damages or injuries resulting from a car accident or other covered events. Car insurance is a legal requirement in most states, as it protects the policyholder financially in case of an accident, so they don't have to pay for damages and injuries out of their own pocket. The video also explains the common terminologies used in car insurance policies, types of car insurance coverage, and the factors that can affect car insurance premiums. Car insurance 101.
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Money Instructor does not provide tax, legal, financial, or accounting advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors regarding your own situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing.
