Loss insurance for auto collision coverage is an optional type of auto insurance that covers the policyholder for damages to their own vehicle in the event of a collision with another vehicle or object. It is distinct from liability insurance, which covers damages to the other party’s vehicle and property.
Collision coverage is essential for protecting your financial interests in the event of an accident. It can help you to pay for repairs or replacement of your vehicle, regardless of who is at fault. It is especially important if you have a newer or more expensive vehicle, as the cost of repairs can be significant.