Auto Insurance – A Safety Net for You
Sometimes even a careful and safe driver may have a mishap while driving. It may not be his fault but someone else’s but the result will be damages to the vehicles and maybe for the people in them. To repair the auto and to get medical aid for the people, there could be fat bills which may be way above your expectations.
It is here that auto insurance steps in to help. If you have already insured your vehicle then they will take care of the expenses. Repairing the damage, hospital bills etc will be looked after by them. But this is only possible if you have purchased the insurance. You must know that there are different kinds of auto or vehicle insurances and you have to read carefully and between the lines as to what the agreement involves.
There are many insurance companies and unless you are fully satisfied with the terms and conditions of the insurance agreement, you need not sign it. You can always go to another company. In most cases the insurance company will pay the full amount if you have full coverage auto insurance. You can have a third party insurance and you can also insure your vehicle against theft, fire, damages etc.
When you buy a vehicle, most countries and most states of the United States insist on you buying the insurance also. Rules vary from place to place but insurance has come to stay and it is wise to buy insurance to protect yourself. Even if you are only parking the vehicle and not running it, you must have insurance.
Once you buy the insurance you have to pay the premium regularly. This is a fixed amount payable at fixed intervals, maybe monthly, half yearly or annually and it is decided depending upon the driver, sex, age, usage of the vehicle, the model of the vehicle and many other factors. A woman is supposed to be a careful driver and so also a retired person. But a youngster may be rash and brash. Also a younger person may be liable to drive fast and rashly. If your previous record is clean then you have a better chance of the premium being lower. Premiums have to be paid on the stipulated time, they should not be allowed to lapse otherwise the insurance policy itself may lapse.
In the event of a disaster, you should first inform the insurance agency who will come and check the damages. Then you have to put in the claim and do quite a bit of paperwork and if the agency is satisfied that your claims are legitimate, they will pay the damages. They may directly pay or they may expect you to pay first and then reimburse the amount you have spent.
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