Insurance Policy

When you purchase automobile insurance from a company, what you have is called an insurance policy.  An insurance policy can differ from person to person, depending on their budget, coverage level, and type of automobile they drive.  You can purchase a personal insurance policy or a commercial insurance policy.  You can include more than one person on the policy, so that other people who drive your car will be covered in the event of a claim.  An insurance policy can be paid for on a monthly basis, but many companies require you to pay for 6 months or a year of coverage at a time.