INSURANCE DAY

When Car Insurance Is Your Friend Sadly, even today, people tend to be rather callous when the question of car insurance comes up. Many give the excuse that since they are good drivers they will not need insurance at all. However, road traffic is not what it used to be and you can never predict what is going to happen on the road even if you follow all the driving rules. THE IMPORTANCE OF CAR INSURANCE Why do you need a car insurance policy? It offers you coverage in the event of losses arising from traffic accidents. As an example, just look at the following. Let us say that your car was hit by a falling tree and got totally smashed. If you had taken out a car insurance policy, the loss would be written off by your insurance company. If this were to happen, you would be better advised to go in for a new car instead of trying to repair the old one. COVERAGE OFFERED BY CAR INSURANCE - Property Damage Liability Coverage: This policy type pays for accidental damage to someon...

Car Insurance Myths Learning about insurance coverage can be confusing, even with the most comprehensive information and the most detailed accounts of policies. Regardless of how much information is out there, the bigger concern is how much misinformation exists regarding car insurance. As the result of this misinformation, there is a detailed mythology involving car insurance that may cause some potential consumers reservation when it comes to applying for appropriate coverage. Colour Matters One myth, believe it or not, is that the colour of the vehicle makes a different when applying for insurance coverage. A lot of people believe that coverage for the make, model, and especially the colour of the vehicle can make a difference in the overall quality and amount of coverage given. This is a myth, as it doesn’t matter what colour your car is. The coverage will be the same. Parking Ticket Problems Some people believe that getting a parking ticket can influence insurance ...

Car Insurance For Teens - Is There A Cheaper Route? Policy and Claims. Normally the premium for teenager car insurance is very high when compared to people over 25 years.   However, some insurance companies are considerate towards teenagers and offer cheap insurance polices. Teenage drivers get into more accidents when compared to age group 30 to 50. If the risk covered is high then the insurance premium will also be high.  Suggestions to keep lower premium for car insurance are:  Traffic rules and road safety laws are to be strictly adhered to in order to keep the driving license of the teenager clean; driving with in the permitted speed; instead of taking separate policy for teenager, he can be covered as an additional driver in the same policy; enrolment of teenager in regular driving courses and stay away from alcohol.  Car Insurance premium is based on the certain factors viz., 1. Age and sex of the driver;  2. Driving record of driver and...

Tips To Avoid Car Insurance Premium Increases & Becoming Assigned Risk Below are some tips to reduce your auto insurance bill, prevent substantial premium increases and avoid becoming assigned risk. Claim Reports: You know about credit reports, you should also know about claim reports. C.L.U.E.® (Comprehensive Loss Underwriting Exchange), is a claim report service provided by ChoicePoint, Inc. ChoicePoint, Inc. states on their web site "C.L.U.E. is a claim history information exchange that enables insurance companies to access prior claim information in the underwriting and rating process. C.L.U.E. Personal Property reports contain up to five years of personal property claims matching the search criteria submitted by the inquiring insurance company. Data provided in C.L.U.E. reports includes policy information such as name, date of birth and policy number, and claim information such as date of loss, type of loss and amounts paid." Tip: C.L.U.E. reports contain...