What You Need To Know About Car Insurance
Car insurance or auto insurance is insurance against losses incurred due to thefts or accidents. If you are a car driver you need car insurance. In most of the states, having car insurance is mandatory by law but even if it is not so it is always best to get car insurance to protect oneself against the high costs of accidents. If you live in a state that requires car insurance, then you need to buy the minimum amount of coverage specified by law.
You can buy a car insurance policy based on the type of coverage you require. There are different types of car insurance coverage but primarily it can be grouped under three broad categories of liability coverage, physical damage coverage and uninsured motorist coverage.
Liability coverage pays for bodily injuries or death, and property damages caused to others by accidents. It is the primary part of most car insurance policies. Bodily injury coverage includes expenses involving medical bills, loss of income, and pain and suffering. Property damage covers you for damages caused to other people’s cars and property in an accident. The liability coverage also covers litigation costs for lawsuits filed against the insurance holder.
The second type of car insurance coverage is the physical damage coverage, which includes collision and comprehensive coverage. Collision coverage covers damages caused to your car by collision with another vehicle or object. Collision coverage is normally determined by the value of your car. The comprehensive coverage is for losses that are not related to car accidents. Damages caused by unforeseen disasters like floods, fire, earthquakes, theft and vandalism are covered by comprehensive coverage.
Uninsured motorist coverage covers for bodily injuries and property damages caused by uninsured motorists. The insured person’s policy will cover medical expenses sustained in accidents where the other driver is at fault but has no insurance.
Besides these three broad types of car insurance coverage, there are other insurance coverage too that are included in a car insurance policy.
Medical coverage pays for medical expenses for injuries caused to the insured driver and the passengers by car accidents, regardless of fault.
Personal injury protection coverage available in some states pays for medical expenses for the insured driver no matter who is at fault.
Rental reimbursement covers the cost of renting a car if your own car is being repaired as a result of accident or other insured damages.
Insurance policies usually combine various types of coverage. Knowing the laws of your state will help you in determining the minimum car insurance coverage you require. You can also opt for additional coverage based on how much money you can afford to lose in case of an accident.
Watch the video related to car insurance
Help answer the question about car insurance
What happens if accidently I gave false information to my car insurance during the application process?
I was under the impression that my 2003 car had ABS (anti lock braking system) because my car dealer told me so, I bought it used. Accordingly during the online application for my car insurance I said that my car has an ABS System. Pretty soon after that I discovered that my car does not have such a system. I would like to inform my insurance because I do not want to have problems in case there is an accident. But will they cancel my insurance if I tell them the truth?
About Author
This entry was posted on Thursday, January 28th, 2010 at 1:33 pm and is filed under Car Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
9 Responses to “What You Need To Know About Car Insurance”
Leave a Reply
Tags
Blogroll
- All Money Making Tips
- Debt Free Debt
- Dedicated Server Reseller
- Forex Daily Effect
- Forex Signal
- Harga Terbaru
- Home Loans and Home Student Education
- Looking Insurance
- Online Payday Loans
- PHP Script Demo
- Royal Bank and Finance
- Shopping Electric Car
- TechnoFox
- The Freelance Jobs
- Trading and Forex
- Trading, Forex and Money
If you caused an accident and had no insurance – the other driver will be able to file an uninsured motorist claim. Their insurance company will pay for all the things yours would have (if you have insurance).
Then the other driver's insurance company will turn the matter over to their subrogation department. The Subrogation department will contact you about paying them back. Do not ignore them – they can have your drivers license suspended, sue you or turn you over to collections.
However, the subrogation department will be willing to set up an interest free payment plan for you to repay them for all they paid their driver. Most likely they will want at least $100 per month – until the debt is paid in full. If you miss payments – they suspend your license, sue you or turn you over to collections.
The other thing you can do – is see if the subro dept will accept a lesser lump sum. For example: you owe them $10,000 – they may be willing to take 7,000 if you pay it as a lump sum. They would rather get a little less all at once – than collect the full $10,000 – 100 dollars at a time.
Can you dispute the amount they want? No – not really. They paid it – you owe it.
** not legal advice **
Just let them know, it doesn't have ABS and they'll update the policy. If you didn't tell them and you file a claim they could (but I doubt they would) deny the claim. So it is important, but no, they won't cancel the policy.
Way to plagiarize someone else's work. This is from a parody letter from a GEICO agent to Optimus Prime, the Transformer. Funny letter, too bad you stole it!
The insurance for a camaro could be very expensive, try this site
http://biinsurance.notlong.com
here you can get qutoes from different companies so you can find the best option for you.
try insurance direct.com
If he gave HIS personal information, HIS drivers license information, HIS address etc & he was just getting quotes on cars he was thinking about, it is not illegal. There is really nothing you can do, he didn't steal your identity by giving your information, did he??
I guess more information would be needed about these quotes. Did he purchase an insurance policy IN YOUR NAME???