Car insurance policies may also include terms that require individuals to use certain repair shops for damages to their vehicle.
Car insurance companies may deny claims if the insured individual was driving under the influence of drugs or alcohol.
Car insurance companies may also require that certain repairs be made to a car before a claim is paid.
The terms of a car loan typically include the amount borrowed, the interest rate, and the length of the loan.
Underinsured motorist coverage protects against damages caused by a driver who has insufficient insurance coverage.
Car insurance policies can vary in coverage and price.
Fixed interest rates on car loans do not change over the life of the loan.
Car loans usually come with interest rates that vary depending on the lender and the borrower's credit score.
Car insurance policies may also exclude coverage for damages caused by pets or other animals in the vehicle.
Car insurance policies may include terms that limit coverage for individuals who use their vehicle for business purposes.
A higher deductible typically results in a lower monthly insurance premium.
Discounts on car insurance premiums may be available for safe driving or multiple policies.
A down payment is often required for a car loan.
Car insurance companies may investigate claims to determine the cause of an accident or the extent of damage to a car.
A car loan allows individuals to pay for a vehicle over time instead of upfront.
Car insurance policies may also have limits on coverage amounts.
Car insurance premiums are typically paid on a monthly or annual basis.
A secured car loan is backed by collateral, usually the car itself.
Car loans can be secured or unsecured.
Car loans can have fixed or variable interest rates.