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Tuesday, January 15, 2008

A Glossary on Car Insurance

A Glossary on Car Insurance

Author: Mark Robinson

There are numerous car insurance brokers who can get away with a very average package at such a hefty price tag simply because their clients don't know anything about it. If you don't like to be in the mercy of these unscrupulous brokers or to ensure that you will be able to obtain the right coverage for yourself and your car, here are a number of important terms that you have to fully understand:

Liability Coverage. This is the an insurance coverage wherein the claim can be used to pay for a damage you have caused to another vehicle or even person. There are many types of liability coverages that you can choose from. There's the damage to property, if you happen to hit his side door, hood, or any other part of the car. You can also avail of a liability coverage so you can pay for the medical expenses of the injured party. A liability coverage may differ, depending on the state you're in, so you have to verify that with your Department of Insurance. You can also ask this office if you want to have more information about liability coverage.

Accident Forgiveness. Whether you like it or not, there are some accidents that can be your own doing. Normally, you won't be able to make any claim for the damage done to your property. What's more insurance companies may even increase your premium. Fortunately, there are some companies that are offering accident forgiveness. A person who has not met any at-fault collision or accident within the span of 5 years will be able to have this privilege. Should you meet an at-fault accident, there will be no surcharges to your premium.

Appraisal. When you apply for a car insurance, your vehicle should be appraised first to determine its total value. This will be used by the insurance company to determine how much your coverage will be and your interest rate. This process is also performed during accidents to identify the damage's extent. It will be necessary in determining if you deserve the claim that you want or if you are worthy to be given such. This should be accomplished by an independent entity, which means he doesn't work for the company and you shouldn't have any personal information about him.

Collision Coverage. This is an insurance coverage that can guarantee you payment if your car gets damaged because of collision or after being hit by an object. You will also be able to make a claim for this if your vehicle overturns. Keep in mind, though, that a collision coverage normally is very limited. This means you won't be able to use it if your car breaks down because of bad weather, someone steals or vandalizes it, or if it catches fire. Make sure you have read and fully understood the terms and conditions of your collision coverage to avoid making unnecessary claims.

Deductible. This refers to the amount that you have to pay personally. Not all insurance policies will be able to cover the entire cost. Sometimes they can only pay a portion of it, and you need to shoulder the rest. If you increase your deductible, you can bring down your premium. It's also ideal to know how much you will likely spend so you can already set aside a considerable personal contingency fund.

Article Tags: Car Insurance, Cars

About the Author:

Mark Robinson writes for Auto-Insurance.GuideFin.com. Visit his website for information about auto insurance - http://auto-insurance.guidefin.com

Buy a Car Insurance Online

Buy a Car Insurance Online

Author: Mark Robinson

Buying a car insurance can still be a hassle. You have to comply with some requirements, ask about their policy, and even study how the system really work. However, you can remove some of the inconveniences by applying for a car insurance policy through the World Wide Web.

There are a number of benefits you can derive from it. First, you don't have to go through the entire process physically. You simply have to fill out the application form, perhaps upload some scanned documents, and send your car insurance proposal with just one click. You don't have to fall in line and wait for your turn. There are several online car insurance companies that can process your papers in one day. Thus, you can cut down your waiting time.

But how do you exactly look for the right online car insurance agency? Here are tips for you:

1. Search for them in search engines. Visit Google, Yahoo, MSN, and other reputable and huge search engines. You can find hundreds of websites that are all online car insurance companies. If you want to look for one that may be located in or near your area, you can simply type in '(the name of your place) online car insurance'. All you have to do is to take a look at each one of them.

2. Know their background. This is very important. If there are car insurance brokers whom you can't trust here, how much more in the Internet? You cannot actually see them, and, in fact, there's a possibility that you'll never get to meet them even if you have already completed your application. Trust is essential in any business dealing, so you have to ensure that you can build one with your chosen online insurance company. Normally, a legitimate organization will have the About Us and Contact Us pages. You can double-check each one of them. Read about their history and get to know them better. It's also better if you can find some testimonials from their other clients. This will surely give you an idea what kind of service they can give you. Most of all, don't forget to make a personal call. This will help you determine if indeed they're truly operating.

3. Introduce yourself to their packages. A good online car insurance company will list down comprehensively all of their insurance coverages. This way, their prospective customers will be able to have a good idea of what they can expect, how much they're going to pay, and what the terms and conditions will be.

4. Make sure they can provide you with an insurance quote. Do you exactly know how much you will be paying for your premium? If you aren't sure, then ask the online insurance company. Usually they can provide you a quote without having to pay for it. This is also a good method if you are still shopping for an insurance company, which you should actually do.

With an online car insurance company, everything becomes so easy.

Article Tags: Car Insurance, Cards

About the Author:

Mark Robinson writes for Auto-Insurance.GuideFin.com. Visit his website for information about cheap auto insurance.

A Step-by-Step Guide in Auto Insurance

A Step-by-Step Guide in Auto Insurance
Author: Mark Robinson

It's very important that you're able to acquire an auto insurance. You need it since it's not all the time you're going to have funds for your car, especially when it gets damaged due to collision. But do you know what to look for and how to get one?

1. Set your budget. Before you start choosing your car insurance, know first how much you're willing to spend for the premium. It will never be the right amount, as there are still a lot of things that you have to consider, but at least you will have an idea how much money you're going to set aside for it. It's also ideal if you do have a budget so the insurance company will be able to suggest you a package that you can afford. Just so you can easily make your estimate, you can try doing some research on the current average premiums for car insurance.

2. Know what type of coverage you need. Your premium will basically depend on your coverage. Hence, even before you talk to any insurance agent, know first what you truly want. Keep in mind that some brokers will eventually entice you to buy an insurance coverage that you actually don't need. It only means that you're simply wasting your money. If you aren't sure what type of coverage to select, you can refer to your state. There are some places that mandate the insurance coverage every driver should get. You can also add liability coverage in your list. You need this just in case you have accidentally bumped into someone else's car or caused damage because of your own doing. If you like to lower down your expenses, you can also shop for an auto insurance coverage that includes other kinds of insurance, such as life or accidental.

3. Start looking for an insurance company. When you already have an insurance coverage in mind, you need to obtain a quote. But before you can get one, you have to look for an insurance company first. It's definitely a great idea if you rely on the recommendations of your friends and family members. Surely, they wouldn't suggest anyone that won't be able to provide excellent service to you. You can also look for one over the Internet, but it's better if it has an office somewhere near your area. There's one thing you need to remember: don't just simply go for one that has very low premium or an excellent package. More than anything else, make sure that it has superb customer service support, one that you can call 24 hours a day, 7 days a week. You simply just don't know when you will need to use your car insurance.

4. Always start the hunting with a call. There are some people who would directly meet their agent face to face. Though this could be good as you can directly obtain information about your desired car insurance policy, this isn't advisable - at least when you're still trying to shop for a company. Just making a call and inquiring about their products will not make you feel awkward if you decide not to deal with them.

5. Know the policies of the company. There are numerous car owners who make the mistake of only understanding what they would get and forgetting about their obligations to the company. If you don't like to be surprised with charges you don't know about or why you can't avail your insurance in certain situations, know their policies first. This should also be accomplished even before you purchase a policy.

Article Tags: Auto, Auto Insurance

About the Author:

Mark Robinson writes for Auto-Insurance.GuideFin.com. Visit his website for information about cheap auto insurance.

The Right Way to File a Claim in Your Auto Insurance

The Right Way to File a Claim in Your Auto Insurance

Author: Mark Robinson

If you have got yourself an auto insurance, then you're entitled to get a claim. The problem is there are numerous car owners who are able to do so simply because they don't know how to file one. In the end, they're not able to enjoy the premiums they constantly pay to their insurance company. A claim is something you need to obtain when your vehicle meets an accident or when you're injured because of a collision. It will basically cover the cost, partial or full, for the repair or your hospitalization.

To ensure that you can fully maximize your premium and obtain your claim the soonest time possible, here are some techniques:

1. Make a report of the incident right away. Don't wait until the next day to file your incident report or at least list down what happened. The later you will make one the higher the chances that you're going to forget it are. You need all these information once you're going to file your claim. If you cannot create your own report for one reason or the other, at least have someone to do it for you, with your assistance. Besides, a more detailed report will make it very easier for the insurance company to decide how much claim you will be entitled with.

2. Notify the police. Notifying the police will further strengthen your case and will improve your chances of being granted with your claim. There are many instances that you should seek professional help immediately or inform the police. First, you must notify them if your vehicle got stolen or someone has vandalized something. You must also provide them a report if your car gets damaged because of collision or a person has purposely did it. It's also advisable to make a report if you have been injured because of a vehicular accident. All these can be filed together with your own incident report. It will establish the credibility of your story.

3. Call your insurance company immediately. This is the part when you will be grateful of your insurance company's 24-hour hotline. If you get yourself in any form of trouble, with undue damage on your vehicle, you have to file a report right away so the insurance company will be able to act upon it the soonest time possible. It will also remove any doubt that could play up in their minds. Remember, not all policy holders are as honest as you. Some of them will simply create stories so they'll be able to make a claim. Nevertheless, don't end the notification with a call. The next day, submit an intent-to-claim letter. If it's possible, state that you have already placed a call and the name of the customer service representative that you have talked to.

4. Know what to do next. Companies have their own way of processing claims, so it's recommended that you obtain first-hand information on the right steps to do it. First, know if there are still some requirements you need to accomplish, your rights and obligations to your claim, and how soon before you will be able to get your claim.

Article Tags: Auto Insurance, Autos

About the Author:

Mark Robinson writes for Auto-Insurance.GuideFin.com. Visit his website for information about auto insurance - http://auto-insurance.guidefin.com.