Legal Insurance Questions
legal insurance questions
Answer to Some Important Auto Insurance Questions
It is very important for a new driver or learner to have knowledge of auto insurance policies in depth. There are many questions come in mind during the purchasing of auto insurance policy that must be solved in order to get the cheapest and best auto insurance policy. If you have to find the answer of some auto insurance questions you must read this article. The first question that comes in mind is that will I own the auto insurance policy or not? Answer is yes if you want to drive legally because in many of the countries it is illegal to drive the car without car insurance. Your coverage money will determine the amount of money that is given by car insurance company for your protection. At the minimum affairs you will have to pay only a liability coverage that help you when you met with an accident by providing financial help to you by insurance firm. Another question that comes in mind is that whether I get the cheaper auto insurance policy than the older one I got? Answer is yes if you maintain your clean driving record that means you drive safely. You must have safety feature in your car that protects you from accidents. Your experience will also enhance your clean driving record list. Third question is that whether the rates of auto insurance policy are based on gender? Answer is yes. Their auto insurance rates differ over the genders. It is shown by the statistic that young male drivers are considered to be more risky than young female drivers because young male drivers drive their car more recklessly and unsafely in terms of speed and acceleration than young female drivers. Your insurance rates will go downward if you prove yourself as a safe driver. By having certain safety features in your car such as indicator, horn, or seat belt proves you as a clean driver. Fourth question that comes in your mind is that does driving the sports car or high budget car will increase your auto insurance rates? Answer is it may be or may be not because many companies give their policy that does not depend upon type of vehicle you have but due to very costly parts of sports car or high budget car some auto insurance companies increase their premiums at much higher rates than other insurance companies even if car have high performance machine and highly advanced safety feature that protect you after accidents.
insurance questions help?
with insurance
a) if you put 7yrs no claims bonus how do they check it if at all?
b) whats difference between 3rd party theft and fire and comprehensive cover?
c) if your car has an alarm and immobiliser will insurance be cheaper?
d) do you need excesses and limits/motor Legal Protection and what the hec do they mean?
voluntary excess £0 £150 £250 £300 £350
personal belongings £200 £250 £300 £350
personal accident £5,000 £7,500 £10,000 £15,000
medical expenses £100 £200 £300 £400
in-car audio
e) with the section for cars value, do you put the price you paid for it or the price the car was originally worth? and the cheaper the car is, is the insurance cheaper?
sorry for all the questions!
Would just add the following to Midnights excellent answer….
CYes … but often it has to an ‘approved’ type to get a reduction in insurance cost, if you’re thinking of buying one to lower premiums make sure it has an accepted rating where you live. E.g. for the UK ‘Thatcham approved’.
D the excess is the amount you have to cover yourself. So if you have a claim for 499 (or less) and the excess is 500…. you get nothing, if the claim is for 501 ….you get 1….600 you get 100… etc etc.
Obviously the higher the excess the less likely you are to claim and so the premium is cheaper.
EThe car value will affect the premium, but it’s often a very small factor. (Midnight has explained most of them) so don’t expect to see 50% difference in premium for the same car worth 10,000 or 5,000 (or even 10% probably). The real cost of insurance is related to what damage you might cause to other people/property and for that reason your driving record and the make/type of car will make much more difference than its value.
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