The vehicle insurance company bears
The vehicle insurance company bears the cost due to the accident like vehicle damage, property damage etc.
Coverage is provided to three parties under vehicle insurance namely the insurer, the vehicle and third party. Third party means a party involved in the accident, for instance if you have an accident with another vehicle, that vehicle and its driver are the third party. There are different types of policies depending upon the type of coverage and are explained in the subsequent paragraphs.
Comprehensive coverage provides coverage for costs due to damage by any process such as vandalism, weather, animals, theft etc. Usually the vehicle becomes unusable after accident. The insurance company pays the expenses incurred for towing and other roadside assistance under towing insurance coverage. After an accident you may have to rent a vehicle till the insurance company pays you for the vehicle damage or replaces your vehicle. The rental cost will be borne by the insurance company under rental coverage.
During accident if you damage somebody?s property or his vehicle, the costs incurred such as repair/replacement of third party vehicle, medical costs of third party etc will be borne by the insurance company under liability insurance coverage.
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