Car insurance is the kind of automobile insurance which is purchased by consumers (mostly) for their personal four-wheeler vehicles to ensure protection against losses caused due to traffic accidents, theft, fire damage, and other factors.
In countries like the United States, South Africa, and India, insuring one's car is a mandatory rule. Car insurance can cover the insured party, the insured vehicle, as well as third parties.
The insurance premium can be mandated either by the government or by the insurance company (in accordance to government regulations). The premium can vary depending on diverse factors which could affect the expected price of future claims, including:
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