For everyone in the world, insurance is essential because it covers your expenses in the event of vehicle damage or injuries to other drivers, passengers or pedestrians.
Insurance is an important part of a financial plan.
All motorists must be insured against their liability to other people, as stipulated in the Road Traffic Act 1988. We can also define insurance, it can also provide financial support if your car is stolen & destroyed by fire.
There may be an example in which you don’t need to insure your vehicle, for example, if you have declared your vehicle off the road through a Statutory Off Road Notification (SORN) from the DVLA.
Liability car insurance is more important insurance that pays other parties when they’re hurt or their property is damaged in an accident and the insured is considered “at-fault.”
Auto liability insurance is a type of car insurance coverage that’s required by law in most states. If you do an accident, liability coverage helps pay for the other person’s expenses. There are two types of auto liability coverage that drivers in each state must have: bodily injury liability coverage and property damage liability coverage.
- Bodily injury: If you’re at fault for an accident that injures another person, bodily injury liability coverage helps pay for their medical expenses.
- Property damage: If you cause an accident that damages someone else’s property (their car, for example), property damage liability coverage helps pay for repairs.
2. Collision Coverage: Collision cover is for damage caused by you to your own vehicle, irrespective of who was responsible for the damage. If there is a covered accident, collision coverage will pay for the repairs to your car. If your car is totaled (where the cost to repair it exceeds the value of the vehicle) in an accident, collision coverage will pay the value of your car.
- Personal Injury Protection
- Uninsured /Underinsured Motorist Protection
3. Comprehensive Coverage: A comprehensive coverage play a very important role when your car, is damaged by a natural calamity, hits a deer, or is stolen. While this coverage is not compulsory for every driver, lien holders in the USA are required to have comprehensive coverage. Moreover, the cost of buying comprehensive coverage can be reduced by installing tracking and anti-theft devices in your car.
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- Talk to 2-3 insurance company agents. Make a comparative study of the rates. **Remember, there is scope for bargaining everywhere.
- Take your insurance before going to the Car dealer, as without insurance, you can’t buy a car, and taking insurance at dealers place could be costly
- Make a note of your car insurance agent’s contact information. Keep it in your wallet; You might need it at any time.
- Always keep a copy of your car insurance papers in your car.
- If there is some minor damage to your car like a scratch, dent, you must report it.
- Major insurance companies are Farmers, Geico , Progressive, Liberty Mutual, Mercury, etc.
- Please have the following information available if you need to contact your insurance company about damage to your car:
- Your Full Name
- Your Date of Birth
- Your Social Security Number
- Your daytime and evening phone numbers
- State of Residence
- Insurance Policy number(s)
- Type of claim (collision, stolen car, death, disability, etc.)
- If the claimant is someone other than you, please include the name of the claimant and your relationship to the claimant