Liability, Comprehensive and Collision Auto Insurance - A Basic Breakdown

Liability, Comprehensive and Collision Auto Insurance - A Basic Breakdown

Auto Insurance by Hugo-90 Liability, Comprehensive and Collision Auto Insurance - A Basic Breakdown States have made it mandatory for all automobile drivers and owners to have at least the minimum of liability coverage. The limit, however, varies from each state. The two required by states are Bodily Injury (BI) and Property Damage (PD). However, BI and PD offer limited risk coverage, i.e. BI pays only for damages to other people as a result of an accident due to fault by the insured or any other covered driver. Similarly, Property Damage (PD) pays only for damages to other people's property caused by the covered person. On the other hand, at times, when one is held personally liable for damages over and above BI and PD limits, one needs to pay the remainder out of their own pocket. In such cases, with increasing costs of health and medical treatment and costs towards vehicle repair make the situation worse. Therefore, consumer advisory groups usually advise that one should analyze risks and accordingly purchase additional options and should not necessarily rely on basic liability simply for the sake of fulfilling a legal requirement. In addition to the minimal requirements, when obtaining auto insurance quotes, there are two such additional options which should be taken into consideration; collision and comprehensive. Collision Policy: In the case of physical damage, this protection covers the lower amount between the cost of repair of the automobile and its fair market value. This compensates the insured in the event that damages are caused by hitting another vehicle or object or the upset of the covered vehicle. It is...
A Selection of Motor Trader Insurance Terms Explained

A Selection of Motor Trader Insurance Terms Explained

online motor insurance quote by Zartiex A Selection of Motor Trader Insurance Terms Explained When you are taking out a motor trader insurance policy it is important that you understand as much of the wording as you possibly can. Obviously if you know what the different parts mean then you will have a much clearer picture of exactly what you are getting for your premium. We have given you a definition of some of the most common terms below.   Road Risk Cover – Indemnity for damage or loss to any insured vehicle whilst being used on the public highway, temporarily parked during the course of a journey or parked at the home address of the insured.   Third Party, Fire and Theft – Loss by fire or theft of vehicles in the possession of the insured up to a maximum amount as declared and accepted by the underwriters. Trade value will apply to own vehicles. Excluding any loss whilst kept on or adjacent to any Trade Premises unless specifically covered on the policy – i.e stock of vehicles cover.   Accidental Damage – As per Third Party, Fire and Theft but including damage to vehicles in your possession – to include accidental damage, vandalism, and malicious damage.   Demonstration Cover – Cover extends the policy to allow the prospective purchaser of an Insured vehicle to drive such vehicle before deciding on purchase. The person must hold the relevant full UK driving licence and be accompanied at all times.   MID – Because of the 4th EU Motor Insurance Directive the policyholder is obliged to provide the Motor Insurance Database...
Motor Trade Insurance – What Level of Cover Should You Have?

Motor Trade Insurance – What Level of Cover Should You Have?

online motor insurance quote by Zartiex Motor Trade Insurance – What Level of Cover Should You Have? The level of cover or indemnity that you get on your motor trade insurance policy should be dependent on the specific industry and type of work that you are going to be carrying out. It isn't hard to understand why someone who is working as a mechanic will not need to have the same type of cover that someone who is buying and selling cars. We have given you some basic information below to try to help you make the decision over what indemnity you are going to take out.   You may find that the best type of policy for you would be one that has got a split indemnity on it. This type of indemnity means that you can have one level of cover for your own car and then another separate level for any of your customer's vehicles. This can come in extremely useful if you have only got a cheap car for yourself as it can make your policy cheaper than just having one level of cover.   Another thing that should influence your decision is the model of car that you are going to be dealing with. If you are going to be buying and selling older cars that have a low value then you are going to need much lower cover than if you were dealing with prestige cars that have a higher value. If you find that the indemnity you take out may not be enough then you can always make it higher when the...
Unsavory Employed Automobile Seller Practices

Unsavory Employed Automobile Seller Practices

automobile insurance policy by Internet Archive Book Images Unsavory Employed Automobile Seller Practices You can find a number of utilised vehicle seller stories out there that describe the salesmen as pushy, controlling, and money-grabbing however nonetheless charming and warm. It is really a delicate mix of qualities that enables them to convince people to acquire cars from that specific salesman. That blend of traits also grants the average utilized car supplier a really negative reputation. Although some may argue that it isn’t deserved, the truth is that you will discover a amount of applied auto lots that willingly do some questionable things to support improve their chances at getting a sale. The pushy salesman with the TV-manufactured smile is frequently just the tip with the iceberg. The most practiced and most well-known practice is known as “clocking,” which is the turning back with the odometer. The odometer, for those who aren’t savvy about car or truck terms, measures the distance that the auto has been driven. By “clocking” an odometer, 1 reduces the mileage that shows around the odometer, giving the impression which the automobile has only been slightly employed. Though not indicative of an auto’s overall condition, the distance around the odometer often is often taken as a reflection of how substantially longer the machine’s life is. The general assumption is that the longer a car has been in a person’s possession, the far more miles will appear around the odometer. By altering the quantity the odometer reflects, the utilised automobile dealer is giving the illusion which the car is comparatively new and has not been applied extensively...
Injury Claims Cause Car Insurance Premiums to Soar

Injury Claims Cause Car Insurance Premiums to Soar

cheap car insurance quotes by Zartiex Injury Claims Cause Car Insurance Premiums to Soar Statistics from the Department of Transport have provided welcome news to motorists with road casualties down by eight per cent compared to the previous 12 months. Yet despite this, the AA British Insurance Premium Index reports that there has been a 3.5 per cent rise in the average cost of a comprehensive car insurance premium during the April-June 2009 quarter. This is the fastest rate rise for nearly a decade. Why premiums are rising Despite the encouraging figures and the falling accident rates on the UK's roads, the number of personal injury claims received by insurers has continued to soar. According to the Association of British Insurers (ABI) there has been a steady, and often unnecessary, increase in the number of claims, which topped £9.6billion last year - up from £8.8billion in 2006. Its statistics show that there were 1,200 whiplash claims per day last year - costing £1.9billion in personal injury payouts. It seems that drivers are more inclined to make personal injury claims primarily due to the ongoing recession. With fuel prices rising, and more people out of work, traffic volumes actually fell by two per cent last year. Yet those that are involved in accidents are more likely to make a claim even for relatively minor injuries such as whiplash that could be cleared within a few days. How to stop your premiums soaring Ironically it is unnecessary claims that could have a direct impact on a motorist's car insurance premiums. Most insurers offer no-claims discounts which get higher the longer you...
An Unlicensed Cab Means No Taxi Insurance

An Unlicensed Cab Means No Taxi Insurance

car insurance quick quote by Kansas Sebastian An Unlicensed Cab Means No Taxi Insurance There are thousands of taxis in every city across the UK with a variety of black cabs and private hire vehicles available for use. The large majority of these cabs will be fully legitimate and perfectly safe to use as a quick and convenient form of transport. However, there are also numerous unlicensed cabs that are in operation and one of the biggest problems with these rogue drivers is that they will not have a taxi insurance policy. This will have great implications for both the driver and their passengers in the event of the vehicle being involved in an accident but there are also a number of other problems associated with them.   The use of unlicensed cabs can be a major problem due to them being completely uncontrolled and monitored. The driver will not have had to go through the numerous checks that are carried out meaning that anyone could be in the driving seat. This brings about a massive safety issue due to the fact that the person behind the wheel could have any kind of criminal conviction. The fact that they have not gone through the necessary licensing procedures also means that their car may not be completely roadworthy which will ultimately increase the risk of an accident occurring.   It is in the event of an accident that the problems can increase even further. If you are in a fully licensed cab as a passenger then you are fully insured for the duration of the journey. If the vehicle is...

Understanding Professional Indemnity Insurance

Budget Car Insurance Quote Understanding Professional Indemnity Insurance Professional Indemnity Insurance is more widely demanded than ever before, with professions from Accountants to Zoologists valuing the protection it offers. However, Professional Indemnity Insurance is complex and unlike most other types of insurance so it is important that policyholders understand how their cover works. When deciding if a policy is suitable for your business consider the following: Professional Indemnity Insurance is written on a claims made basis. This means that if you need to make a claim there must be a live policy in place and you must claim on that policy, even if the cause of the claim dates back many years when a previous policy or no policy was in place. Because of the claims made nature of Professional Indemnity Insurance, if you do not maintain cover then you will not be protected if a claim comes out of the woodwork. Therefore if you retire or cease trading you should consider run-off cover that will ensure protection continues. If your business merges then you should ensure that there is continuity of cover. Again, because Professional Indemnity Insurance is claims made, insurers may not want to expose themselves to the risk of any past mistakes being claimed for. Therefore they may set a retroactive date on the policy and will then not accept any claims that have their root before that date. Professional Indemnity policies will have a Limit of Indemnity, which is the maximum value that can be claimed. The limit will either be Any One Claim or In The Aggregate. An Any One Claim limit is the...
A Selection of the Most Common Questions About Motor Trade Insurance

A Selection of the Most Common Questions About Motor Trade Insurance

online motor insurance quote by Zartiex A Selection of the Most Common Questions About Motor Trade Insurance Before you decide to take out a motor trade insurance policy there are a number of questions that you may want answers to in order to gain a better understanding. We have provided you with some of the most common ones below and hope this helps you when you are looking through any potential policy.   How is indemnity defined?   Your policy's indemnity is the highest amount that the insurer will be prepared to pay for a single claim on your policy. It doesn't mean that if you crash into an extremely expensive car you are going to end up having to make a large payment as the 3rd party will cover this. Your indemnity only really kicks in when there is nobody else to claim off.   How old does a trader have to be?   While there isn't a stated minimum age for someone to get a traders policy, you will find that younger people are going to have to pay a lot more. Anybody who is working in the trade who is aged under 24 will more than likely have a very high premium cost.   How much excess should there be?   You will find most policies will have a £250 excess on them but by making your excess level higher, you will lower the price of your premium. Your policy excess may start off at a higher rate so it is always a good idea to talk with your broker before taking out a policy to...
Patriot Travel Medical Insurance

Patriot Travel Medical Insurance

Insurance Guide by wallygrom Patriot Travel Medical Insurance There are two Patriot travel medical insurance plans available. Patriot International is for U.S. Citizens traveling outside the U.S. with coverage for brief returns to the U.S. The other plan is Patriot America, this is for non-U.S. Citizens traveling outside their home countries. The period of coverage for both plans can be from 10 days up to 2 years. Both plans offer great benefits and services which should meet your international needs. Benefits include a range of deductibles (0 to $ 2,500) and plan maximums ($ 50,000 to $ 2,000,000) and access to over 17,000 providers when you need treatment outside the U.S. There is no Coinsurance for treatment received outside the U.S. and Canada. In the U.S.  and Canada the plan pays 90% of eligible expenses up to $ 5,000 then 100% up to the policy maximum when treatment is provided within the PPO Network and 80% outside the PPO Network. Benefit period of 6 months. On-line access to MyIMG 24 hours a day. World-Class Medical Benefits and International Emergency Care. Below are the Schedule of Benefits, Additional Benefits, International Emergency Care and Optional Riders. Schedule of Benefits: The following are covered Up to the Maximum Limit: Hospital Room and Board (for average semi-private room rate), Medical Expenses, Out-patient Medical Expenses, Local Ambulance, Intensive Care, Emergency Room Accident, Emergency Room Illness with In-patient Admission, Prescription Drugs, Dental - Due to Accident. Emergency Room Illness without In-patient Admission - Up to Maximum Limit with additional $ 250 deductible, Dental - Sudden Pain - up to $ 100, Indemnity (for U.S. Citizen only) - up...
Following Automobile Safety Precautions

Following Automobile Safety Precautions

automobile insurance policy by Governor Earl Ray Tomblin Following Automobile Safety Precautions Any vehicle, whether old or new, is bound to experience some issues or problems every now and then. Not only can they be costly, but they can potentially cause a hiccup in your entire day. Paying attention to smaller issues and problems and getting them fixed as soon as possible can prevent you from dealing with larger problems in the future. Battery life is vital to your vehicle and the functionality of your engine. It is basically impossible to predict when your battery will die, especially because each brand promises a different life span; however, making note of when it was purchased and how long it is supposed to last when it is installed can help you immensely. This information can be retrieved from a mechanic or, occasionally, the packaging on the outside of the battery. Keep the receipt from the purchase and place it in your glove box. Then check the date of purchase or installment every couple of months and make sure that you are not nearing the estimated death date. Very often, the store or garage where you purchase your battery will allow you to recycle the old, dead one that was present in your car. This will be better for the environment, because less plastic needs to be created and wasted for the product; you may even find that you are able to get a rebate for this type of return. Windshield cracks and chips can also become worse over time if they are left untreated. Extremely hot or cold weather can warp...