In auto insurance the liability of the insurance insures the cost of damage and injury caused in an automobile accident. There are two policies here appllicable. One is of bodily injury and another is of property damage. In USA the insurance regulations vary from place to place. It varies on the basis of living, coverage and purchasing types.
The Bodily Injury Covers the injury that is caused to others in an auto accident. In the first case there is the coverage which covers the cost of injury caused to per person. The second case the policy covers the total dollar amounted for injury coverage.
The medical coverage will pay the medical bills of every person injured in the accident. Then there comes the property coverage which covers the damage done to another’s property which are the other’s cars, houses, poles etc.
The collision policy covers to pay for the repairs to be made for the damaged car.
Flood insurance covers the losses caused to the property by flooding. The standard flood policy will cover structural damage, household items, cleanup of the debris caused by flood.
In USA only twenty percent of the houses are covered by flood insurance.In USA claimants are more in number than that of the number of people interested for protecting their own property from the peril of flood. Ultimately this makes it sure that insurers are not able to recover the cost of flood insurance. To obtain flood insurance coverage people must live in any of the communities which have an agreement with the Federal Government.