i have vehicle insurance but the bank is an addtional intrest on my insurance when i got my premium in the mail it was three diffrent premiums
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UPDATED: Sep 8, 2012
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Insurance Question from Philadelphia, PA
Asked on 09/08/2012
i have vehicle insurance but the bank is an addtional intrest on my insurance when i got my premium in the mail it was three diffrent premiums NULL
Answer given on September 09, 2012
While this question is not very clear, I believe you are referring to the coverages under the auto policy. The normal areas are the liability coverage and then there is comprehensive and collision insurance. Since there is a loan on the car, you are required to carry comprehensive and collision coverage.Comprehensive coverage is for fire, theft, vandalism, flood, glass breakage and collision with an animal (such as a deer). Collision coverage is for damages caused by any collision, whether it is with another car, a pole or an object in the road. There are different deductibles for these coverages. Comprehensive usually has a lower deductible than collision. Obiviously the higher the deductible the less exxpensive the insurance.The auto policy breaks down the costs for these three areas of insurance, so that is probably what you are seeing as the three different premiums. Combined, they add up to the total premium for the policy.
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