Hopefully when you obtained your vehicle insurance policy, you opted for Collision coverage and Uninsured Motorist Coverage protection. In most instances when you apply for your vehicle insurance you are given the option to select Uninsured Motorist Coverage protection. If you elect not to carry this coverage your insurance company may request that you sign a waiver indicating that you are denying this particular coverage as part of your vehicle insurance policy contract.
If your insurance carrier determines that the other driver caused the accident and has no insurance coverage of their own this person would be considered as uninsured. In most instances your collision coverage or Uninsured Motorist Property Damage coverage may take care of the damages sustained to your vehicle. In addition, if you or passengers in your vehicle sustained injuries and you opted for Uninsured Motorist Bodily Injury coverage, you and your passengers will be able to have your injury claims handled by your insurance carrier as well.
The Uninsured Motorist protection for your policy, replaces the liability coverage the other party did not carry with a vehicle insurance carrier as required by their state’s liability insurance responsibility laws. After your Uninsured Motorist claim is resolved, your insurance company will usually go after the responsible uninsured party for the damages paid out via your policy for the accident.
Showing posts with label vehicle insurance. Show all posts
Showing posts with label vehicle insurance. Show all posts
Saturday, February 19, 2011
Thursday, August 26, 2010
Planning On Buying Vehicle Insurance?
Are you in the process of buying a vehicle? Planning on switching your auto insurance to another company? Know a family member or friend that is looking to purchase auto insurance? Or, maybe you’re thinking about buying auto insurance for yourself? If you have answered yes to any of these questions then you may want to consider these tips before purchasing vehicle insurance:
Tip One:
Review your driving history for any prior tickets you may have by securing a copy of your driving record via your local department of motor vehicles. Keep in mind that when you apply for auto insurance your driving record will be reviewed by your prospective insurance carrier. In addition, in many instances your credit report will be reviewed as well. After this information is checked by the insurance company a determination will be made as to whether or not they will insure you and if so, you will be advised of the amount for your insurance premium.
Tip Two:
Shop around and compare vehicle insurance rates from different companies. You may want to also ask your family or friends for a recommendation concerning their auto insurance companies.
Check to see if the insurance company offers discounts such as; multi car discount, good driving record discount, non smoker discount, good grade discount for a student, and any other discounts while you’re shopping around for vehicle insurance.
Tip Three:
Consider getting higher deductibles for your collision and comprehensive coverages in order to reduce your overall vehicle insurance rate.
If you have an older vehicle you may want to consider eliminating collision and comprehensive coverage for that vehicle and only carry liability insurance coverage as required by your state. Talk to your insurance company concerning the best options for your insurance needs in reference to vehicle coverages.
Tip Four:
Many auto insurance companies offer the following options to pay your insurance: monthly, semi-monthly, quarterly and annually. Discuss with your insurance carrier the payment option that best fits your needs and budget.
Tip Five:
Once you’ve decided on an auto insurance company make sure to read your entire policy to ensure that you have the insurance coverage that you need for your vehicle. In addition, make sure that you understand your policy after reading it and if you do not understand your insurance policy, consider discussing your concerns or questions with your insurance company before you sign your documents.
You do not want any surprises later on down the line if you happen to have a vehicle accident and find out that coverage you thought you had via your policy you do not have at all. So, read your policy in full and make sure you understand the vehicle coverages you have before you take that important leap of getting vehicle insurance, you’ll be glad you did in the long run.
Tip Six:
Be sure to maintain a good driving record and credit history. It is noted that the majority of insurance companies review this information especially at the time your policy is up for renewal to determine if you are still insurable and if so the amount of money you will be paying for your insurance.
As you research vehicle insurance companies to determine the company that will fit your needs, you may want to consider using some of these tips to assist you with your quest in selecting the insurance company that is right for you.
Tip One:
Review your driving history for any prior tickets you may have by securing a copy of your driving record via your local department of motor vehicles. Keep in mind that when you apply for auto insurance your driving record will be reviewed by your prospective insurance carrier. In addition, in many instances your credit report will be reviewed as well. After this information is checked by the insurance company a determination will be made as to whether or not they will insure you and if so, you will be advised of the amount for your insurance premium.
Tip Two:
Shop around and compare vehicle insurance rates from different companies. You may want to also ask your family or friends for a recommendation concerning their auto insurance companies.
Check to see if the insurance company offers discounts such as; multi car discount, good driving record discount, non smoker discount, good grade discount for a student, and any other discounts while you’re shopping around for vehicle insurance.
Tip Three:
Consider getting higher deductibles for your collision and comprehensive coverages in order to reduce your overall vehicle insurance rate.
If you have an older vehicle you may want to consider eliminating collision and comprehensive coverage for that vehicle and only carry liability insurance coverage as required by your state. Talk to your insurance company concerning the best options for your insurance needs in reference to vehicle coverages.
Tip Four:
Many auto insurance companies offer the following options to pay your insurance: monthly, semi-monthly, quarterly and annually. Discuss with your insurance carrier the payment option that best fits your needs and budget.
Tip Five:
Once you’ve decided on an auto insurance company make sure to read your entire policy to ensure that you have the insurance coverage that you need for your vehicle. In addition, make sure that you understand your policy after reading it and if you do not understand your insurance policy, consider discussing your concerns or questions with your insurance company before you sign your documents.
You do not want any surprises later on down the line if you happen to have a vehicle accident and find out that coverage you thought you had via your policy you do not have at all. So, read your policy in full and make sure you understand the vehicle coverages you have before you take that important leap of getting vehicle insurance, you’ll be glad you did in the long run.
Tip Six:
Be sure to maintain a good driving record and credit history. It is noted that the majority of insurance companies review this information especially at the time your policy is up for renewal to determine if you are still insurable and if so the amount of money you will be paying for your insurance.
As you research vehicle insurance companies to determine the company that will fit your needs, you may want to consider using some of these tips to assist you with your quest in selecting the insurance company that is right for you.
Saturday, August 7, 2010
Should I Let A Relative Or Friend Drive My Vehicle?
Yes that’s right you may want to really think about this question. Slow down, breathe, relax and count to ten. Breathe, relax, take a few minutes and really think about how you will answer this question. Ask yourself does your vehicle insurance cover your friend or relative if you allow that person to use your vehicle? Are you still hesitant about how to answer this question? Then you may want to consider what occurred in the following scenario:
Jason was relaxing on a warm summer day at his home when he heard a knock at his door. He looked out his window and there was his favorite aunt standing on his front door step. Jason opened up his front door excited to see his Aunt Sally. After speaking to his aunt for a few minutes she asked him if she could borrow his vehicle to go to their local mall. His aunt had explained to him that her vehicle was in for repair and she needed to run to the mall to pick up a pair shoes before her evening dinner date. Jason agreed to allow his aunt to use his vehicle for her errand. He gave her the keys to his vehicle without a second thought and she headed off for the mall and Jason resumed his relaxation and enjoyment of the beautiful summer day.
After a couple of hours Jason was awaken from a deep afternoon nap by the loud ringing of his telephone. He answered his phone and to his astonishment his Aunt Sally was screaming into the telephone to tell him that she was just in an accident with his brand new Corvette that he had loaned her to go to the mall. His aunt told him that the accident happened when she made her left turn to exit the mall parking lot. Jason was in a state of shock, he just could not believe what had just occurred.
He tried to stay calm while giving his aunt his vehicle insurance information to provide to the police and the other person involved in the accident. Jason tried to console his aunt who was very apologetic for wrecking his vehicle by telling her that his insurance would be able to pay for the damages she caused.
Jason concluded his telephone conversation with his aunt and called his insurance company. After speaking with his insurance company while filing his claim, he discovered that there was no insurance coverage for his vehicle. His claims adjuster told him that since his Aunt Sally was driving his vehicle and she was not listed on his policy as a driver that there was no coverage being provided for damages sustained in this accident.
He found out that his vehicle policy excludes coverage for any driver not listed on his vehicle policy from driving his vehicle. There was a clause in Jason’s policy wherein permissive drivers were not allowed to drive his vehicle. It did not matter that Jason gave his aunt permission to use his vehicle this was not allowed by his insurance policy. Unfortunately for Jason, he would have no coverage for his Corvette or the other person’s vehicle damaged in the accident with his aunt.
After hearing this awful news from his insurance company Jason was upset because he thought he had full coverage to cover him and anyone else that he allowed to drive his vehicle. He then reviewed his vehicle policy and discovered after reading the fine print that he in fact was not allowed to let anyone else drive his vehicle and if he did there would be no insurance coverage for his vehicle or the other vehicle(s) involved in an accident with his vehicle.
Jason thought to himself, what in the world was he thinking when he loaned out his vehicle to his aunt. Unfortunately for Jason, he was stuck paying for the repair for his own vehicle and the other party’s vehicle involved in the accident with his aunt. In addition, he also found out later from his Aunt Sally that she did not carry insurance coverage on her own personal vehicle so there would be no possible insurance recovery for the accident via her policy.
Wow, Jason learned a costly lesson about loaning out his vehicle. So, before you consider loaning your vehicle to a relative or friend, make sure your vehicle policy covers them and they have the same amount of coverage that you have when you are driving your vehicle.
Review your vehicle policy and contact your insurance carrier before you make a decision to loan out your vehicle if you are unsure of how your policy protects you if you loan out your vehicle to a relative or friend. You will be glad you made this decision in the long run and you may be able to avoid being in Jason’s shoes.
Jason was relaxing on a warm summer day at his home when he heard a knock at his door. He looked out his window and there was his favorite aunt standing on his front door step. Jason opened up his front door excited to see his Aunt Sally. After speaking to his aunt for a few minutes she asked him if she could borrow his vehicle to go to their local mall. His aunt had explained to him that her vehicle was in for repair and she needed to run to the mall to pick up a pair shoes before her evening dinner date. Jason agreed to allow his aunt to use his vehicle for her errand. He gave her the keys to his vehicle without a second thought and she headed off for the mall and Jason resumed his relaxation and enjoyment of the beautiful summer day.
After a couple of hours Jason was awaken from a deep afternoon nap by the loud ringing of his telephone. He answered his phone and to his astonishment his Aunt Sally was screaming into the telephone to tell him that she was just in an accident with his brand new Corvette that he had loaned her to go to the mall. His aunt told him that the accident happened when she made her left turn to exit the mall parking lot. Jason was in a state of shock, he just could not believe what had just occurred.
He tried to stay calm while giving his aunt his vehicle insurance information to provide to the police and the other person involved in the accident. Jason tried to console his aunt who was very apologetic for wrecking his vehicle by telling her that his insurance would be able to pay for the damages she caused.
Jason concluded his telephone conversation with his aunt and called his insurance company. After speaking with his insurance company while filing his claim, he discovered that there was no insurance coverage for his vehicle. His claims adjuster told him that since his Aunt Sally was driving his vehicle and she was not listed on his policy as a driver that there was no coverage being provided for damages sustained in this accident.
He found out that his vehicle policy excludes coverage for any driver not listed on his vehicle policy from driving his vehicle. There was a clause in Jason’s policy wherein permissive drivers were not allowed to drive his vehicle. It did not matter that Jason gave his aunt permission to use his vehicle this was not allowed by his insurance policy. Unfortunately for Jason, he would have no coverage for his Corvette or the other person’s vehicle damaged in the accident with his aunt.
After hearing this awful news from his insurance company Jason was upset because he thought he had full coverage to cover him and anyone else that he allowed to drive his vehicle. He then reviewed his vehicle policy and discovered after reading the fine print that he in fact was not allowed to let anyone else drive his vehicle and if he did there would be no insurance coverage for his vehicle or the other vehicle(s) involved in an accident with his vehicle.
Jason thought to himself, what in the world was he thinking when he loaned out his vehicle to his aunt. Unfortunately for Jason, he was stuck paying for the repair for his own vehicle and the other party’s vehicle involved in the accident with his aunt. In addition, he also found out later from his Aunt Sally that she did not carry insurance coverage on her own personal vehicle so there would be no possible insurance recovery for the accident via her policy.
Wow, Jason learned a costly lesson about loaning out his vehicle. So, before you consider loaning your vehicle to a relative or friend, make sure your vehicle policy covers them and they have the same amount of coverage that you have when you are driving your vehicle.
Review your vehicle policy and contact your insurance carrier before you make a decision to loan out your vehicle if you are unsure of how your policy protects you if you loan out your vehicle to a relative or friend. You will be glad you made this decision in the long run and you may be able to avoid being in Jason’s shoes.
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