Rental car agencies have a menu of insurance policies they would like to sell you. While each policy could be of some benefit under the right circumstances, you should review each plan (its provisions, limitations, and exclusions) before making a purchase. It is a good idea to request the detailed information from an agent at the rental office, as most companies only provide a summary on their Web sites.
Keep in mind; you may not need to buy this additional car insurance because you have auto insurance from your own car insurance company. Generally speaking, when you rent a car, the liability coverage limits you have in your own auto insurance policy remain in effect with the same limits. In addition, the comprehensive and collision coverages you have in your own auto insurance policy remain in effect with the same deductibles. You do have comprehensive and collision coverage don't you? See our article, "How Much Car Insurance Should You Buy?" for a listing of coverage types and definitions.
You may also have some kind of additional auto insurance coverage through your credit card but it is important that you check your credit card information for specific details. Some cards only offer coverage if you rent your car from a particular agency. Some limit the days for which coverage is available. Some will only provide coverage for certain types and/or classes of cars. With some cards, the coverage is not automatic and you must enroll in a program to get coverage. Some cards that advertise automatic rental insurance really only reimburse you for the deductible that you would have to pay under your regular insurance policy. Still others may provide only collision and comprehensive coverage, leaving you exposed for personal injury or property damage to others. Rental car agencies typically offer liability coverage in two parts - a supplemental liability policy protects against claims from others and a Loss Damage Waiver (LDW) covers the rental car. LDW is not technically insurance; rather, it is a company's agreement not to hold the consumer liable for loss from all or part of any damage to merchandise.
Before you rent a vehicle, realize the charges you could be responsible for and how these charges are covered or not covered by both your own auto insurance policy and the car insurance the rental company is offering.
If you suffer a loss that is not covered under your auto policy, check your other insurance policies. For example, if personal property has been stolen from your rental car, it may be covered under your homeowners or renters policy. Similarly, certain medical policies may cover costs of injuries not covered by your car insurance policy.
Showing posts with label Car. Show all posts
Showing posts with label Car. Show all posts
Friday, February 13, 2009
Simple Steps to Filing Your Car Insurance Claim
Having even a teeny-tiny car accident can be one of life's least enjoyable moments. However, accidents happen, and sooner or later, we all have the experience of meeting one of our fellow road travelers up close and personal. Using the following seven steps to filing your claim will help you get over this speed bump as smoothly as possible.
They aren’t really accidents. They are more of an incident. Usually they are an incident that you would like to forget.
* Understand your policy before a loss, sit down and carefully read your insurance policy. Call your agent or company if you have any questions about what is or is not covered.
* Make sure everyone is okay and check to see if anyone needs medical attention. Even if your injuries are minor, you may still want to have them checked out at a hospital or with your family doctor. Minor injuries can become major, long-lasting injuries.
* Exchange information when you are involved in an accident, get the other driver's name, address, phone number, insurance carrier, and insurer's phone number. Be prepared to give the same information about yourself to the other driver. You can find insurers’ telephone numbers on the proof-of-insurance cards that should be carried on your person when operating a motor vehicle.
* Identify witnesses and ask witnesses to the accident for their names and phone numbers in case their account of the accident is needed.
* File an accident report and contact local law enforcement officers to have an accident report prepared. If law enforcement is not reachable, accident reports and detailed instructions are available at all police departments, sheriff's offices, your local Department of Motor Vehicles office, and on your local Department of Motor Vehicles' web site
* Notify your insurer by contacting your insurance company about the accident as soon as possible. An insurance adjuster will review the accident report to determine who caused the accident. If the accident was not your fault, you can have either your insurance company or the at-fault driver's insurance company handle the repair or replacement of your vehicle. If you use the other driver's company, you will not have a claim on your automobile policy and you will not have to pay a deductible.
* Do not release insurers too early. Do not relieve your insurance company of its responsibility until the damages are settled to your satisfaction. For example, have your insurance company handle the claim if the other party's insurance company questions its policyholder’s negligence or offers an unacceptable settlement.
* Consider these settlement factors.
o Bodily injuries: You may be entitled to a monetary settlement for injuries caused by another at fault (liable) party. It can take several days for some injuries to become apparent.
o Damages: The insurance company is responsible to pay for the reasonable cost of repairs to your vehicle. An insurance adjuster will assess the damage. Usually, insurance companies and auto body shops negotiate disagreements about what should be repaired. If you disagree with their conclusions, you have the right to obtain another appraisal at any auto body shop.
o Appraisal clause: Most auto insurance policies include an appraisal clause, which can be used to help settle disputes about physical damage claims between you and your insurance company. (The appraisal clause does not apply for claims you file with the other party's insurance company.) If you cannot reach an agreement with your company, you or your insurer can initiate the appraisal clause. Your appraiser and your insurer's appraiser then select an independent umpire to try to resolve the dispute. Check your policy or ask your agent or insurance company for more information about the appraisal clause.
They aren’t really accidents. They are more of an incident. Usually they are an incident that you would like to forget.
* Understand your policy before a loss, sit down and carefully read your insurance policy. Call your agent or company if you have any questions about what is or is not covered.
* Make sure everyone is okay and check to see if anyone needs medical attention. Even if your injuries are minor, you may still want to have them checked out at a hospital or with your family doctor. Minor injuries can become major, long-lasting injuries.
* Exchange information when you are involved in an accident, get the other driver's name, address, phone number, insurance carrier, and insurer's phone number. Be prepared to give the same information about yourself to the other driver. You can find insurers’ telephone numbers on the proof-of-insurance cards that should be carried on your person when operating a motor vehicle.
* Identify witnesses and ask witnesses to the accident for their names and phone numbers in case their account of the accident is needed.
* File an accident report and contact local law enforcement officers to have an accident report prepared. If law enforcement is not reachable, accident reports and detailed instructions are available at all police departments, sheriff's offices, your local Department of Motor Vehicles office, and on your local Department of Motor Vehicles' web site
* Notify your insurer by contacting your insurance company about the accident as soon as possible. An insurance adjuster will review the accident report to determine who caused the accident. If the accident was not your fault, you can have either your insurance company or the at-fault driver's insurance company handle the repair or replacement of your vehicle. If you use the other driver's company, you will not have a claim on your automobile policy and you will not have to pay a deductible.
* Do not release insurers too early. Do not relieve your insurance company of its responsibility until the damages are settled to your satisfaction. For example, have your insurance company handle the claim if the other party's insurance company questions its policyholder’s negligence or offers an unacceptable settlement.
* Consider these settlement factors.
o Bodily injuries: You may be entitled to a monetary settlement for injuries caused by another at fault (liable) party. It can take several days for some injuries to become apparent.
o Damages: The insurance company is responsible to pay for the reasonable cost of repairs to your vehicle. An insurance adjuster will assess the damage. Usually, insurance companies and auto body shops negotiate disagreements about what should be repaired. If you disagree with their conclusions, you have the right to obtain another appraisal at any auto body shop.
o Appraisal clause: Most auto insurance policies include an appraisal clause, which can be used to help settle disputes about physical damage claims between you and your insurance company. (The appraisal clause does not apply for claims you file with the other party's insurance company.) If you cannot reach an agreement with your company, you or your insurer can initiate the appraisal clause. Your appraiser and your insurer's appraiser then select an independent umpire to try to resolve the dispute. Check your policy or ask your agent or insurance company for more information about the appraisal clause.
Car Insurance Tips - These Tips Can Save You a Bundle
If you are looking for a way to save money on your car insurance, then there are several steps that you can take to achieve this. Reducing your car insurance cost can allow you to have more money for your other needs. Especially with the ailing economy and with the rising inflation, you would want to get a cheap auto insurance quote in order to reduce your payments. Here are some steps that you can take to reduce your car insurance.
1) Go online and search for different insurance companies and different car insurance quotes. Try to get as many quotes as possible, so that you will be able to have lots of insurance quotes to choose from. The good news is that you can do all this within the comfort of your home, as you can easily get quotes online.
2) If you have more than one policy (such as house insurance, car insurance, medical insurance etc); going to the same insurance company to get quotes for all of them can be very advantageous. Many companies will reward their clients for their loyalty and they will give you reduced insurance rates.
3) Applying for more than one car with the same insurance company can also be useful as it will allow you to get a group discount. Hence, if you own more than one car in the family, you should go for a special discount to help you reduce your costs.
4) If you are able to raise your deductible, then this can come in handy, as you wont have to worry about paying a large auto insurance bill. For example, raising your deductible to $500 can help to reduce your car insurance cost by %20, while increasing your deductible to around $900 to $1000 can help to reduce your cost by as much as % 50. Of course, you should discuss these various scenarios with your insurance agent.
5) If you have an older model car, then you may want to think about dropping collision damage to your car. This can come in handy, since having an older model car wont make it worth it to get collision damage coverage for your car as the money you pay for the insurance coverage can cost you the same amount as fixing it.
6) If you are able to keep your car in a safe environment, then this can also be very useful. For example, if you have a closed garage or if you are able to provide an alarm system or an advanced anti theft system for your car, then all of this can help to reduce your car insurance cost.
7) Being a safe driver can be the best way to reduce your car insurance bill, since insurance companies just love clients who will not file an insurance claim. Hence, if you haven't had an insurance claim in the last few years, this can also help you to get a cheap auto insurance.
1) Go online and search for different insurance companies and different car insurance quotes. Try to get as many quotes as possible, so that you will be able to have lots of insurance quotes to choose from. The good news is that you can do all this within the comfort of your home, as you can easily get quotes online.
2) If you have more than one policy (such as house insurance, car insurance, medical insurance etc); going to the same insurance company to get quotes for all of them can be very advantageous. Many companies will reward their clients for their loyalty and they will give you reduced insurance rates.
3) Applying for more than one car with the same insurance company can also be useful as it will allow you to get a group discount. Hence, if you own more than one car in the family, you should go for a special discount to help you reduce your costs.
4) If you are able to raise your deductible, then this can come in handy, as you wont have to worry about paying a large auto insurance bill. For example, raising your deductible to $500 can help to reduce your car insurance cost by %20, while increasing your deductible to around $900 to $1000 can help to reduce your cost by as much as % 50. Of course, you should discuss these various scenarios with your insurance agent.
5) If you have an older model car, then you may want to think about dropping collision damage to your car. This can come in handy, since having an older model car wont make it worth it to get collision damage coverage for your car as the money you pay for the insurance coverage can cost you the same amount as fixing it.
6) If you are able to keep your car in a safe environment, then this can also be very useful. For example, if you have a closed garage or if you are able to provide an alarm system or an advanced anti theft system for your car, then all of this can help to reduce your car insurance cost.
7) Being a safe driver can be the best way to reduce your car insurance bill, since insurance companies just love clients who will not file an insurance claim. Hence, if you haven't had an insurance claim in the last few years, this can also help you to get a cheap auto insurance.
Car Insurance Terminology Clarified to Make Getting a Policy Easier
When looking to buy car insurance,does the terminology and technical language put you off? If so, this article will attempt to explain the meanings of the phrases to make it less of an ordeal when insuring your car.
Third-party-only cover is the very basic of all insurance policies. It protects you if you cause death or serious injury to a third party, including occupants in your car at the time. It will also cover you, should you accidentally damage another person's property.
Third party fire and theft cover will protect you against the risks mentioned above, but will also provide you with cover against fire damage or theft of your car. Items that are in your car, are likely to only be covered by a nominal amount, so any other items that are unspecified should be added to your home insurance to protect them this way.
Comprehensive cover protects you against loss of your vehicle or damage to it through vandalism. It also includes third party fire and theft cover.
Certain medical conditions should be declared to your insurance company when purchasing cover. Any condition that affects your ability to drive has to be disclosed. These include conditions such as visual disabilities, a tendency to suffer blackouts, if you are diabetic or have had a stroke. If you have a medical condition but are unsure if it will affect your insurance, always inform the insurer to be safe.
Foreign use relates to whether the policy covers you to drive your car abroad. Most policies offer a minimum legal cover to drive in all EU countries, but for full comprehensive cover, a Green Card will be required. If driving in Spain, a bail board will be needed. It is best to check with your insurer.
Material facts are pieces of information that could influence your insurers' decision to accept a policy application during its assessment. If you are unsure about whether information is material or not, always disclose it so your cover is not affected.
Modifications are bits of work your car has undergone, including alterations to the engine, suspension or bodywork. All modifications that occur have to be reported to the insurance company who have offered you your policy.
Third-party-only cover is the very basic of all insurance policies. It protects you if you cause death or serious injury to a third party, including occupants in your car at the time. It will also cover you, should you accidentally damage another person's property.
Third party fire and theft cover will protect you against the risks mentioned above, but will also provide you with cover against fire damage or theft of your car. Items that are in your car, are likely to only be covered by a nominal amount, so any other items that are unspecified should be added to your home insurance to protect them this way.
Comprehensive cover protects you against loss of your vehicle or damage to it through vandalism. It also includes third party fire and theft cover.
Certain medical conditions should be declared to your insurance company when purchasing cover. Any condition that affects your ability to drive has to be disclosed. These include conditions such as visual disabilities, a tendency to suffer blackouts, if you are diabetic or have had a stroke. If you have a medical condition but are unsure if it will affect your insurance, always inform the insurer to be safe.
Foreign use relates to whether the policy covers you to drive your car abroad. Most policies offer a minimum legal cover to drive in all EU countries, but for full comprehensive cover, a Green Card will be required. If driving in Spain, a bail board will be needed. It is best to check with your insurer.
Material facts are pieces of information that could influence your insurers' decision to accept a policy application during its assessment. If you are unsure about whether information is material or not, always disclose it so your cover is not affected.
Modifications are bits of work your car has undergone, including alterations to the engine, suspension or bodywork. All modifications that occur have to be reported to the insurance company who have offered you your policy.
Car Insurance For Women - Fact Vs Myth
It is a misconception that women drivers are not as reliable or as safe their male counterparts. If you have any doubt about that, just ask the insurance industry. They are in the business of reducing their risk and increasing their profits. And in the real world, this means acknowledging the reality that women are better drivers than men as measured by nearly every metric you can imagine.
Insurance companies have historically used demographic data (e.g., the gender and age of those drivers involved in accidents) as part of their formula in calculating insurance rates. Everything else being equal, those demographic groups that have a higher incidence of accidents while driving will cause rates to go up for everyone in that group. And the facts show that women are safer drivers than men.
A recent Carnegie-Mellon study concluded that men are two times more likely to be involved in a traffic fatality than women. Further evidence from the insurance industry revealed that while 68% of women have no traffic violations, men who have never received a traffic violation is only 64%. An additional finding from the study was about the amount of multiple violations for each gender. The study found that that men, as a group, are more likely to have received multiple citations than women -- by a factor of 10%.
As an attempt to acknowledge these differences between men and women, several insurance providers cater specifically to insuring women drivers, guaranteeing that women pay a lower rate than men. These insurance companies have set up special individual companies to provide and underwrite car insurance for women only.
In short, the insurance industry has discovered that young men are actually the highest risk group among all drivers.
Finding out how you fare in comparison to other types of drivers is easy by getting a free online quote from any insurance provider. Bottom line: You'll find that (all things equal) car insurance for women is usually cheaper than the same coverage for men.
Of course, the insurance industry looks at more than just gender when deciding your premium. That said, the general perception that women are worse drivers than men is something that is not supported by the facts.
Insurance companies have historically used demographic data (e.g., the gender and age of those drivers involved in accidents) as part of their formula in calculating insurance rates. Everything else being equal, those demographic groups that have a higher incidence of accidents while driving will cause rates to go up for everyone in that group. And the facts show that women are safer drivers than men.
A recent Carnegie-Mellon study concluded that men are two times more likely to be involved in a traffic fatality than women. Further evidence from the insurance industry revealed that while 68% of women have no traffic violations, men who have never received a traffic violation is only 64%. An additional finding from the study was about the amount of multiple violations for each gender. The study found that that men, as a group, are more likely to have received multiple citations than women -- by a factor of 10%.
As an attempt to acknowledge these differences between men and women, several insurance providers cater specifically to insuring women drivers, guaranteeing that women pay a lower rate than men. These insurance companies have set up special individual companies to provide and underwrite car insurance for women only.
In short, the insurance industry has discovered that young men are actually the highest risk group among all drivers.
Finding out how you fare in comparison to other types of drivers is easy by getting a free online quote from any insurance provider. Bottom line: You'll find that (all things equal) car insurance for women is usually cheaper than the same coverage for men.
Of course, the insurance industry looks at more than just gender when deciding your premium. That said, the general perception that women are worse drivers than men is something that is not supported by the facts.
Car Insurance Advice
For some drivers, trying to understand the mountain of insurance products available in the market place can be a daunting prospect and they may feel in need of some car insurance advice.
That's perfectly understandable. In today's world there are a huge range of companies marketing a wide variety of policies and products through multiple channels such as the Internet, TV, the press, telephone marketing and so on.
Not only that, the complexity of these products may also be quite baffling. Although many insurance companies do try to use plain and simple language to describe their products openly and honestly, sometimes they may unintentionally lapse into jargon or 'insurance-speak.' This can prove quite confusing.
If you have experience of car insurance gained over some years, this may become simply 'business as usual'. However, for younger drivers or those moving from one country to another, it can prove to be a nightmare of confusion, terminology and conflicting offers.
Most reputable insurance companies or brokers will offer advice to casual callers. Some of their customer service departments are very helpful and friendly and offer excellent explanations aimed at simplifying things through email or telephone call centre contact.
Some people may feel that this advice is useful in general terms, but remain uneasy about asking for specific car insurance advice from a specific company that may be selling a range of products. Additionally, in some countries the law may limit the advice offered by insurance companies unless it relates to advice and clarification on their individual products.
In the situation where someone wants general advice of the type "what policy/product is for me" or "what policy should I buy", there may be several useful routes to consider.
The first is the leaflets and Internet advice offered by the insurance associations and regulatory authorities -sometimes including consumer associations and government bodies. These are general professional organisations not linked to any particular company and their advice and explanations may usually be seen as being objective and impartial.
The second is the licensed insurance broker. The broker is a person or company that looks across many different insurance providers trying to find the product and deal that's right for a certain individual. Their advice and recommendations should be impartial and based upon their assessment of the needs of their customer.
Going online to reputable car insurance websites can also typically provide you with lots of useful information about motor insurance. Car insurance comparison websites can also be a good resource.
Insurance brokers should have many years of practical and professional experience upon which they can base their advice and guidance. Typically they are happy and willing to offer advice about the basics and principles of car insurance rather than just sell policies.
It may be the case that a given broker has a long history with certain insurance companies and as such their views and car insurance advice may be influenced in part by that. Even so, this should not detract from their ability to provide good, useful car advice about the intricacies of car cover and the motor insurance marketplace..
That's perfectly understandable. In today's world there are a huge range of companies marketing a wide variety of policies and products through multiple channels such as the Internet, TV, the press, telephone marketing and so on.
Not only that, the complexity of these products may also be quite baffling. Although many insurance companies do try to use plain and simple language to describe their products openly and honestly, sometimes they may unintentionally lapse into jargon or 'insurance-speak.' This can prove quite confusing.
If you have experience of car insurance gained over some years, this may become simply 'business as usual'. However, for younger drivers or those moving from one country to another, it can prove to be a nightmare of confusion, terminology and conflicting offers.
Most reputable insurance companies or brokers will offer advice to casual callers. Some of their customer service departments are very helpful and friendly and offer excellent explanations aimed at simplifying things through email or telephone call centre contact.
Some people may feel that this advice is useful in general terms, but remain uneasy about asking for specific car insurance advice from a specific company that may be selling a range of products. Additionally, in some countries the law may limit the advice offered by insurance companies unless it relates to advice and clarification on their individual products.
In the situation where someone wants general advice of the type "what policy/product is for me" or "what policy should I buy", there may be several useful routes to consider.
The first is the leaflets and Internet advice offered by the insurance associations and regulatory authorities -sometimes including consumer associations and government bodies. These are general professional organisations not linked to any particular company and their advice and explanations may usually be seen as being objective and impartial.
The second is the licensed insurance broker. The broker is a person or company that looks across many different insurance providers trying to find the product and deal that's right for a certain individual. Their advice and recommendations should be impartial and based upon their assessment of the needs of their customer.
Going online to reputable car insurance websites can also typically provide you with lots of useful information about motor insurance. Car insurance comparison websites can also be a good resource.
Insurance brokers should have many years of practical and professional experience upon which they can base their advice and guidance. Typically they are happy and willing to offer advice about the basics and principles of car insurance rather than just sell policies.
It may be the case that a given broker has a long history with certain insurance companies and as such their views and car insurance advice may be influenced in part by that. Even so, this should not detract from their ability to provide good, useful car advice about the intricacies of car cover and the motor insurance marketplace..
Guide to Car Insurance
Odds are if you own a vehicle, you have or plan on getting an automobile insurance plan.
It sounds simple enough, but do you understand what type of plan best meets your needs?
Are you going with the best company?
Are you paying too much?
All of these questions are important to consider when you’re looking to purchase car insurance.
The first thing you need to do is decide on a plan that suits you and your vehicle. This can be something as simple as a liability plan that covers damage you do to someone else or their property.
If you’re searching for a full coverage plan, many insurance companies offer packages with multiple benefits like roadside assistance, towing and uninsured motorist coverage. Think of combined benefits from car insurance providers like ordering from an ala carte menu.
Once you think you have an understanding of what coverage you want, you need to shop around for quotes. There are many insurance providers that will give you their quote, along with the quotes of other top competitors. You can easily get these side by side quotes online.
While they say they are comparison quotes, it would be best to get each quote directly from the respected company. You can also call insurance agents directly in your area, and many can give you a quote over the phone just by asking a few simple questions.
Once you’ve satisfied your need for shopping around, you can go on to pick the plan and company that won your vote.
Here are some things to remember when you are looking to purchase car insurance, whether you’re a first timer or changing companies.
Think about how you drive your car. Think about your budget. Tickets and accidents cause premiums to rise. So if you’ve got a lead foot and accident prone, maybe you need to tailor your insurance plan around that.
Also, there are some insurance companies that can be “pushy” when it comes to sales. Don’t feel intimidated. If they are pushing a plan that covers towing and roadside assistance for “just a little more money” and you know that you don’t leave town enough to make use of that plan, just let them know that it doesn’t fit in with what you had hoped to have in your coverage.
With that, best of luck in purchasing your car insurance plan.
It sounds simple enough, but do you understand what type of plan best meets your needs?
Are you going with the best company?
Are you paying too much?
All of these questions are important to consider when you’re looking to purchase car insurance.
The first thing you need to do is decide on a plan that suits you and your vehicle. This can be something as simple as a liability plan that covers damage you do to someone else or their property.
If you’re searching for a full coverage plan, many insurance companies offer packages with multiple benefits like roadside assistance, towing and uninsured motorist coverage. Think of combined benefits from car insurance providers like ordering from an ala carte menu.
Once you think you have an understanding of what coverage you want, you need to shop around for quotes. There are many insurance providers that will give you their quote, along with the quotes of other top competitors. You can easily get these side by side quotes online.
While they say they are comparison quotes, it would be best to get each quote directly from the respected company. You can also call insurance agents directly in your area, and many can give you a quote over the phone just by asking a few simple questions.
Once you’ve satisfied your need for shopping around, you can go on to pick the plan and company that won your vote.
Here are some things to remember when you are looking to purchase car insurance, whether you’re a first timer or changing companies.
Think about how you drive your car. Think about your budget. Tickets and accidents cause premiums to rise. So if you’ve got a lead foot and accident prone, maybe you need to tailor your insurance plan around that.
Also, there are some insurance companies that can be “pushy” when it comes to sales. Don’t feel intimidated. If they are pushing a plan that covers towing and roadside assistance for “just a little more money” and you know that you don’t leave town enough to make use of that plan, just let them know that it doesn’t fit in with what you had hoped to have in your coverage.
With that, best of luck in purchasing your car insurance plan.
A Better View On Car Insurance
Rates of the Car Insurance gets higher and higher. Not all families can afford this easily, so ca insurance became an issue that should be faced in our lives. If you do not investigate and take some time to research and understand the different types of insurances offered in today’s market, car insurance will surely be a minefield.
Policies vary from company to company. Basically, comprehensive cover is full coverage of your insurance while a third party protects you for damages to someone else’s car.
After deciding what type of insurance you want, ask yourself if you want to insure the car on the agreed value or current market value of the car. You might consider the agreed value option of your car is a special model because it allows you to include added extras. While in the market value option, the insurance company pays out the amount the car is worth at the time of the accident, so the amount could be different to the market value originally spelled out in the policy when you signed up because of depreciation.
You can get down to the smaller and more tedious option once you have worked out what type of cover you want. You may consider some thing like the amount of the excess, if you want to choose the repairer, if you want to loan vehicles if your car is stolen, if you want the policy to cover the car for business use, if your car is repaired using only genuine spare parts and many more.
The Australian Insurance Council’s Group General Manger for Western Australia and the Northern Territory Daryl Cameron said in 85% of cases, policies are bought on price alone. This can be dangerous for people who do not read their policies carefully. He also said that your insurer might refuse to pay out if you are not honest in your insurance quotes.
“It is vital that all known information regarding the vehicle or any intended driver is fully disclosed to the insurer when taking out a policy or when one is up for renewal. If anything changes that may affect your policy, you must tell the insurer; it is extremely important to remember that you have a duty of disclosure,” Mr. Cameron said.
Watch out for the traps that catch many unsuspecting motorists. Ask as many questions as you can to understand what you are getting into. After all, there is no harm in asking.
There are points to remember when considering car insurance. First, research, investigate and take your time when looking for car insurance. Second get a coverage that suits your needs. Third, decide if you want a market value or agreed value cover. Make sure that you fully understand what you are covered for. Know the factors that are excluded in the policy. You should also know the excess when making a claim. Tell you insurer about anything that happens to you that may affect your policy. Know the payment method that suits you. Know if in the case of “At Fault” claim, you can protect your no claim bonus. And lastly, remember that cheapest is not always the best.
Make sure that you are familiar with the cover provided by the policy and not just compared policies on price. Cheaper does not always mean better.
Policies vary from company to company. Basically, comprehensive cover is full coverage of your insurance while a third party protects you for damages to someone else’s car.
After deciding what type of insurance you want, ask yourself if you want to insure the car on the agreed value or current market value of the car. You might consider the agreed value option of your car is a special model because it allows you to include added extras. While in the market value option, the insurance company pays out the amount the car is worth at the time of the accident, so the amount could be different to the market value originally spelled out in the policy when you signed up because of depreciation.
You can get down to the smaller and more tedious option once you have worked out what type of cover you want. You may consider some thing like the amount of the excess, if you want to choose the repairer, if you want to loan vehicles if your car is stolen, if you want the policy to cover the car for business use, if your car is repaired using only genuine spare parts and many more.
The Australian Insurance Council’s Group General Manger for Western Australia and the Northern Territory Daryl Cameron said in 85% of cases, policies are bought on price alone. This can be dangerous for people who do not read their policies carefully. He also said that your insurer might refuse to pay out if you are not honest in your insurance quotes.
“It is vital that all known information regarding the vehicle or any intended driver is fully disclosed to the insurer when taking out a policy or when one is up for renewal. If anything changes that may affect your policy, you must tell the insurer; it is extremely important to remember that you have a duty of disclosure,” Mr. Cameron said.
Watch out for the traps that catch many unsuspecting motorists. Ask as many questions as you can to understand what you are getting into. After all, there is no harm in asking.
There are points to remember when considering car insurance. First, research, investigate and take your time when looking for car insurance. Second get a coverage that suits your needs. Third, decide if you want a market value or agreed value cover. Make sure that you fully understand what you are covered for. Know the factors that are excluded in the policy. You should also know the excess when making a claim. Tell you insurer about anything that happens to you that may affect your policy. Know the payment method that suits you. Know if in the case of “At Fault” claim, you can protect your no claim bonus. And lastly, remember that cheapest is not always the best.
Make sure that you are familiar with the cover provided by the policy and not just compared policies on price. Cheaper does not always mean better.
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