Third Party Auto Insurance Basic

I

-Ice-

Member
Third Party Auto Insurance Basic

Automobile insurance is necessary for every individuals who drives a car. Without having an adequate coverage for vehicle insurance may lead you to a more risky situation.

Auto insurance policies are divided into two categories, the third party liability and the first party insurance.

In car insurance, first party is the owner of the policy who has a contract with the insurance provider, which consider as a second party. While the third party is the other person in an accident who may injured or his or her property have been damaged.

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Netsom

Rookie
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. An insurer is a company selling the insurance. The insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
 
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