By Carmel Baird
Looking for a car, be
it a brand new model or a pre-loved car with one or more previous owners, you
do compare the many features of the vehicle. Yet when insuring your car, many
times this is the last thing you would think of doing. Yes, you make sure you
ask what is the cost of insuring the particular car you are about to buy. The
savings on premiums offered for low-cost policies could also influence you.
Yet, you could be
paying more in the long term
When You Are Liable
How these low cost
insurance policies work is, that they have low liability limits, some could be
as low as $25,000, this could mean if you are involved in an accident and are
liable then you could be responsible for paying for the other person, the
hospital and medical expenses, loss of income and other damages. $25.000
doesn't go far these days so the amount over and above you would be personally
responsible for
Always make sure you
have enough cover with your car insurance policy. Read your policy carefully
and when you are not understanding something or are not sure, get advice from
someone who does know.
Choosing Your Insurance
Agent or Insurance Sales Representatives
Choosing an insurance
agent has its advantages. Assessing your needs is part of what the insurance
agent will do and will also look into your risk profile so they have a good
understanding of your insurance requirements and your car insurance coverage
Don't get an insurance
agent and an insurance sales representative confused. An insurance
representative works for a particular insurance company, so they will be
recommending that insurance company's policies. Whereas an insurance agent
works independently and will source out the best car insurance policy from all
the insurance companies, the one that will best fit your needs
There are a some
things you will want to discuss with your insurance agent for your car
insurance and these are
What you feel about asset protection and insurance
What you expect if you need to make a claim
Your assets and your net worth
Your Car Needs
Replacing After An Accident
This is an important
area of car insurance. Many car insurance policies pay for total losses on the
cash value of your car and not the replacement cost. Depending on the age of
your car, you could be at a loss of quite some dollars, as you will have to
come up with the difference if you wish to have the same car
The age of your
vehicle will determine the outcome of this clause in your car insurance policy.
Many car insurance companies will cover full replacement if you car is bought
brand new. They will do this for a specified time and then you should make sure
you have a full understanding of what happens after that time. Often companies
will do the full replacement for a year, there will also be special offers for
special car promos
If you see that
teensy, weensy print at the bottom of an advert "Conditions Apply",
make sure you determine exactly what the 'conditions' are
The insurance policies
that pay, after total loss during the first twelve months, the total purchase
price plus all costs, will each year after, lock in the car valuation as set by
the industry's standard 'retail' Blue Book
Look After The Little
things
You can find what is
covered or not covered with your low-cost car insurance policy by reading the
fine print. When you first sign your policy, these items may not seem so
important. Many things with any insurance policy seem fine until you need to
make a claim. This is where the so called savings will be eaten away. The
savings of the low premiums you have been enjoying when you need to claim
because of an accident, the costs start to come in
If you are saving on
your car insurance policy premiums, you may find you are required to use a
certain repairer as nominated by your car insurance company, you will need to
comply or pay for them yourself. Other policies may cost you more in premiums
but could have a clause that enables you to have your own repairer without any
penalty as far as the cost to you goes
There is an area often
overlooked with car insurance policies and that is your personal items that are
in your car at the time of an accident. These items will also need to be
replaced if your car is a total write-off.
How To Choose Your Car
Insurance Coverage
Take a look at the
declaration page of your policy to find out your coverage. If you are unsure
what it all means, then ask advice from an independent insurance agent, this is
the one that doesn't work for any car insurance company and will have your
needs as his client, as the first priority
It is the legal responsibility of the independent insurance agent to provide the proper coverage for their clients
It is the legal responsibility of the independent insurance agent to provide the proper coverage for their clients
For you to understand
an insurance policy be it a car insurance policy or a house contents insurance
policy is very important, so make sure you get everything explained to you
©2007 CTBaird. Carmel
Baird contributes to InsuranceInfo-Online [http://www.insuranceinfo-online.com]
a site dedicated to helping people obtain information, hints, tips and get
insurance information online [http://www.insuranceinfo-online.com]
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