subject: Auto Insurance - Your Basic Necessity in Life [print this page] In order to fully understand auto insurance - your basic necessity in life, it will be appropriate to first look at what is auto insurance? It is that contract for an automobile where one party agrees to pay for another financial loss resulting from a specified event such as theft, collision and damages as a result of storm.
Auto insurance is not new in any state or country except for few who may know and deliberately want to avoid it. It is prevalent in all the states and in some States they have an insurance watch dog agency that oversee the industry as a whole. Their duties is to release comprehensive studies citing rates for some typical drivers in average cars, that drives safely for a set number of miles. The agency have information on the premiums the state 's charge for the same standard and this makes them an excellent tool for determining the maximum coverage at the minimum costs.
Are you a businessman that usually go out of town for your meetings and seminars and other business engagements, your basic necessity for now is auto insurance, more so that the daily price of rental - car insurance for collision has reached astronomical levels. With the addition of relatively inexpensive endorsement to your company auto policy, it can save you money, prevent headaches on the road and also give you the advantage of rate shopping with the major rental agencies. So with this agreement, the cost of collision damage waiver offered by the major car rental companies can go up to $15 or more per day for car rentals is under control. But your failure to purchase the collision damage waiver results in the renter carrying full responsibility for any damage to the car. On this note, you have to be sure to ask your insurance carrier if this coverage is automatically included or if there is another extra fee.
Any business that provides employees with the company cars, delivery vans, need auto insurance because it gives you an opportunity to save money than most other types of business insurance. The plan is to increase your deductible and your premiums will decrease accordingly that is if you can afford to pay the deductibles any time an accident happen.
Apart from that, removing collision and the comprehensive coverage from the older vehicles in your fleet, will also add more savings.
Auto Insurance - Your Basic Necessity in Life
By: Samuelobi Gabrielemejuru
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