FAQ on vehicle insurance CI
Why should I buy insurance for my car?
Vehicle insurance is a legal requirement in most states of the US. In some states it's even impossible to get a plate number for your car without providing a valid insurance policy first. If you're caught driving without a valid insurance policy the consequences will be negative depending on the state you're licensed in. You can face a fine, license suspension, penalty points on your driving record or even time in custody. However, besides the legal requirement insurance is also a matter of common sense. In case of an accident it provides the necessary financial support that you could lack at the moment.
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Why vehicle insurance is mandatory?
There's a reason for vehicle insurance to be a legal requirement for all drivers. Not all drivers are conscious enough to realize the benefits and the importance of car insurance. By making insurance mandatory the government assures that all traffic participants are financially able to settle liability caused by traffic accidents. Because the repair costs and medical bills in case of an accident can be very high and exceed the financial abilities of an average person vehicle insurance is needed to assure that everything will be paid for.
What type of coverage should I include into the policy?
The only mandatory type of coverage that should always be present in your policy is third party liability, which includes bodily injury and property damage. However, you should also consider other insurance options in order to meet your exact needs. For example, comprehensive coverage will pay for the damage to your car caused by perils like fire, theft, vandalism and acts of nature. Personal injury protection will pay for any injuries caused to you or your passengers no matter who was at fault in the accident. Explore the possibilities and choose the types of coverage you really need.
What cars will cost more to insure?
Depending on the car you driver your car insurance can be either affordable or expensive. Even the type of car you own can significantly affect your rates. If you do not want your insurance to be too expensive think well before buying a sports vehicle, muscle car, expensive luxury vehicle, large SUV or small and cheap auto. All these car types are known to have higher rates due to different risk factors they possess.
What other factors influence insurance rates?
Car insurance providers use a set of factors to determine rates for each customer. The most important factors include car make and model, engine volume, top speed, security features, driver's credit rating, driving record, age, sex, marital status and place of residence. By using these factors in different variations insurance companies determine how risky it is to insure a particular driver and set their rates accordingly.
How can I make my policy cheaper?
There are different ways to make your policy cheaper. First of all it's advised to shop around in order to get a competitively priced policy right from the start. You can do so by comparing quotes from multiple companies and choosing the the best offer. There are also discounts available with most providers that can reduce your premiums. Ask around to see if you can opt for a certain discount. You can also review your policy and exclude the coverage options you don't need but you have to be sure in your actions when doing so.
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Posted in Taxi/Limosine/Shuttle Post Date 02/26/2017