Little Known Auto Insurance Issues
Auto insurance may not be as simple as anyone may think
. There are times that auto insurance policies can get quite complicated, especially when one may need to file a claim. There are also little known issues about auto insurance that most people may not know about. Here are some of them.Switching Auto Insurance Companies
There are many reasons why a person may need to switch or terminate an auto insurance policy. One reason may be deciding to transfer into another state. One may be trying to get rid of the insured car by selling it. But one other common reason is that the car owner may not be that satisfied with the policy.
The best way to terminate or cancel your auto insurance is to provide ample notice to the auto insurance company about your intentions. Insurance companies have a standard policy of allowing their clients the option to cancel their policy at any time during the policy term. This may require the insured sending a written notice stating the intended date of cancellation. This is required since the insurance company may continue to send you the bill of your insurance premiums if you fail to do so. If you fail to pay it, it may reflect on your credit report. Canceling your auto insurance policy before its term may have serious repercussions on your part. This may brand you as a high-risk applicant the next time you apply for car insurance from another insurance company. You must try to cancel and terminate your insurance policy the proper way in order to avoid serious problems later on.
Repair Issues
Auto insurance companies may have different stands when it comes to repair parts used for your car. There are actually just two types of parts to choose from- Original Equipment Manufacturer or OEM car parts and aftermarket parts. OEM parts are those that are usually recommended by car manufacturers as parts replacements in case of damage. This only snag may be that they can be very expensive. Aftermarket parts are those generic that can be used for any other car model where they are compatible with.
They can come cheap and affordable to use. But then, they are not the parts that car manufacturers may recommend for their cars.
On this issue, car insurance companies are divided on which of the parts to use when doing repairs to damaged cars. Some insurance companies may not use OEM parts for repairs for the main reason that they can be quite expensive. Using after market parts instead can provide them with considerable savings. But then there are others that stand by the use of OEM parts for car repairs. But such insurance companies are the ones that usually offer more expensive auto insurance coverage. On the side of the car owner, it is important to consider this issue since it may differ from what they prefer when it comes to car repairs in case of accidents.
Little Known Auto Insurance Issues
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