subject: Cheap Vehicle Insurance [print this page] You have to have auto insurance before you can drive your vehicle in a public place.
Motor insurance protects you, the vehicle and other drivers against liability in the event of any accident. It provides financial compensation to cover damage caused to drivers or their property.
In most developed countries buying cover for your vehicle is compulsory by law. For your vehicle there is a minimum type of cover required under the legislation.
You must have a valid driving permit for the category of motor vehicle you are driving. Assuming you are driving legally, with a valid driving permit and car insurance, you can claim assuming that your policy is valid.
There are certain things that a car insurance policy might not cover, sometimes called "exclusions", unless specifically included. Every vehicle owner should be fully aware if such exclusions are included in the policy document.
The cost of motor insurance can alter tremendously. An insurance agent who knows the auto market will be able to advise the best policy for you. However, many factors will influence the premium you have to pay.
In addition to the three prinicpal types of car insurance, one of which is compulsory by law, you may select to buy supplementary insurance, that might include personal accident benefit.
In some cases, it is not obvious who is to blame for the accident, and the amount of your involvement cannot be determined. In this case, legal advice can be consulted unless the insurance firms concerned are happy to settle the matter between them.
The cost of pursuing legal action can be prohibitive. Should this worry you, ask about the cost of this additional cover on top of the statuary requirements.
Insurance companies insist that you act with "utmost faith". This means that you need to tell them of any matter that the insurer may deem important. Should you have been convicted of motoring offences in the past, or have a bad accident record, you will probably have to pay an increased premium.
Another way of reducing your insurance costs is to agree to pay the first portion of any claim.
If you have a automobile accident which causes damage, you must provide your name and address, and details of your insurance policy to another driver who reasonably needs it. Assuming you are in charge of the vehicle legally, with a legal driving permit and car insurance, you can claim as long as your policy is valid.
Many insurance companies limit your insurance cover depending on the use of your vehicle. This signifies that you may only be covered when you use your vehicle for social.
UK law legislates to protect all road users by designating strict rules before you are permitted to drive, and subsequently during your driving career.
In the UK the least amount of cover is called third party, which means that damage or injury to another driver will be the responsibility of your insurer. A driver can opt for Fire and Theft with obvious benefits. A comprehensive policy covers you should your vehicle be damaged in an accident. In most countries property and automobile insurance can be expensive in major cities and cheap car insurance is difficult to track down without consulting a qualified agent.
The popular Green Card is a certificate that is accepted in over 40 countries. Although it offers no insurance cover, it proves that the minimum legal requirements for third party cover are insured.
In the USA, each State imposes its own laws involving auto insurance with a minimum amount of cover. For example in Delaware the numbers are 15/30/5. These stats refer to injury, property, and the total cover per claim. A vehicle owner with this legal limit, who became liable for an increased figure, might be sued for the difference.
In Canada, as well as a minimum, it is required that a driver has cover for both medical expenses and loss of earnings.
by: Richard Jones
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