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Physical damage insurance

Physical damage is a wide term that includes a group of insurances that protect the vehicles. Physical damage includes comprehensive insurance, collision insurance as well as fire and theft with Combined Additional Coverage Insurance. Each insurance policy covers only the physical damage specifically mentioned under the terms of the policy.

Under the collision insurance, the owner of the car is protected against the damages to the car arising out of an accident. When the car collides with another object or when it overturns, the cost to repair or replace the vehicle will be covered under the collision insurance. A comprehensive insurance, on the other hand, secures the loss sustained by the vehicle through any damage other than collision. An individual who is in possession of the comprehensive insurance will be given with the cost for replacing the stolen car by the insurance company. Some of the areas covered by the comprehensive insurance is fire, riot, vandalism, explosion, natural calamities, theft and other acts of man. Breakage of the glass other than through collision comes under the comprehensive insurance package. A fire and theft with CAC is limited to certain non-collision accidents, but does not provide compensation for the impact on the windshield.

When the car is bought through a lease or though loans, the lender of the money requires the user of the car to insure the car against physical damage. Any compensation on physical damage will be made to the loss payee or the company that aids you with the purchase, by the insurance company under the terms of the contract. Recognition and evaluation of the laws applicable to each state will help to throw light over the terms and conditions and the other relevant information related to the physical damage insurance.

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