allaboutwomen

If you got a car, “insure it now” must be on your mind for security and protection purposes. There are specific kinds of coverage to choose from. Here’s some insurance know-how – one good way to be familiar with what car insurance is all about.

• Basic and standard policies encompassing comprehensive, underinsured motorist, collision, medical fees, and liability coverage. As to what level of coverage is deemed more beneficial relies heavily on the type of situation you’re in at the time being. If you’re financially sound and you can finance possible losses and property damages, you may not consider buying insurance. However, those who don’t have resources to pay for repairs, medical fees and the like would definitely need insurance as protection and security for valuable assets. For almost everyone with a car, insure it now, before it’s too late.

• Motor car claims. This aspect is considered the most complicated of all. Anyone claiming to be indemnified must not yield any payment or pledge indemnity through verbal agreement. There must be consent from the insurer in black and white. For third party claims, the requirement for promptitude (an essential facet in settlement claims) falls on two conditions 1. Notice in writing shall be provided by the insurer or any of its legal representatives without more ado or right after the accident occurred; 2. That every claim, summon or any other legal documents concerning the accident shall be forwarded to the insurance company as soon as possible. In the event of own damage claims, the same necessity of promptitude must be made, for when the vehicle reaches its “loss of use” state, both parties will suffer inconvenience (insured) and pecuniary loss (insurer).

If you live in a no-fault state, you may still need liability insurance. Why? Because if you happen to cause an accident to someone and the total cost is way beyond and above a specific threshold, chances of you clearing up your side before the court is possible. And, the worse thing that may come about is when the other party wins a judgment against you and you’re left with no adequate liability coverage. This means to say that the sum of damage to properties may have to come out of your own sack. If this idea doesn’t sound excellent, then you have to find a car insure policy that will go well with your funds.