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Monthly Archives: July 2017

Must Go For Two Wheeler Insurance

Need of Insurance

It offers financial coverage for any type of damages or loss that occurs because of natural calamities such as fire, flood, etc.

  • Coverage against man-made calamities as well that includes theft or accident by external means etc.
  • The third party legal liability offers coverage against issues arising out of injury/death or property damage to the third party by your vehicle.

Before purchasing two wheeler insurance for your bike, scooty, scooter or any other two wheeler, it is essential to know the basic terminology of the same.

Premium

The premium you paid for insurance depends upon several factors such as city where the vehicle got registered, model, age of vehicle, year of manufacture, etc. Premium is decided and regulated by IRDA hence there is not much difference across several companies.

Coverage

It is the financial protection that the insurer offers to you and your two wheeler against any damage and loss caused due to any natural and/or man made calamity. Coverage depends upon the insurer and the plan chosen. That’s why it is advisable to buy two wheeler insurance online after comparison.

Exclusions

While purchasing the best two wheeler insurance, you must check its exclusions as it will tell you about situations where the insurer will not be able to offer coverage and required assistance.

Some exclusions will be- normal wear and tear, damage due to drunken driving, driving without license, damage caused by war or nuclear explosions, etc.

Some Stages of Car Insurance

The application stage. This is where you fill out an application to get car insurance. You will need the following documents to apply: a social security number, driver license number, knowledge of driving history, and credit information for all applicable drivers.

The approval stage. After submitting your application for insurance, an insurance provider will show you which plans are available, and for how much. Your annual premiums will be determined by a number of factors including,but not limited to, your age, location, gender, driving history, and marital status.

And finally, the maintenance stage. After being approved for insurance, this is the final stage. In this stage your goal is to keep your costs down by driving safely and reducing the risk you present. You should check with your provider for deals, or look around at competitor’s deals every three to six months. It is not hard to switch insurance providers, and it’s worth looking to find a company that keeps you happy.

You are currently in stage one, getting ready to apply. Everyone driving has been there. And if you just take the first step, either by calling a rep or using an online service, you will find that it’s quicker and easier than you expect.

About Pick Up Truck Insurance

Insurance rates are constantly changing and this is especially true for trucks. However, we can get a rough idea of the average cost of insuring a late model truck looking at data across several brands, including Ford and Chevy models. Based on a policy that includes liability and also comprehensive coverage, the average cost of insuring a pick-up truck in the U.S. is going to be about $2,400 annually. This equates to $200 a month, which puts it above the mainline coverage average cost for sedans and other vehicle types. While this is not cheap, comprehensive coverage is often recommended for trucks as they are often exposed more to severe weather conditions and are very expensive to repair.

Although the high cost of insuring trucks can scare off potential buyers, there are some simple steps anyone can take to lower their premiums by quite a bit. The first thing that needs to be done is raising the deductible amount. Some people mistakenly believe that raising this will push their rates higher but the opposite is actually true. When a deductible is increased, the policyholder is assuming more financial responsibility for the cost of an accident after a claim is made. This of course reduces the costs for the insurer and often results in drivers being more careful on the road and less accidents. Getting a $1,000 or higher deductible can lower premiums by 10% or more and make pick-up truck coverage a lot cheaper.

Another way to lower rates is to improve your driving record and credit score. This means paying off any past due tickets and getting your credit repaired as fast as possible. Many people don’t even realize that today’s insurance pricing includes credit rating scores. Insurers look at consumers who make risky financial moves as potentially riskier drivers and thus charge more for coverage. Likewise, those motorists that have more than 2 moving violations will be charged a lot more for vehicle insurance because of the intrinsic risks. Getting these two things cleared up can push your rates on that beloved truck down another 10% or even more.

You must Beware of Driving While Uninsured

Always set money aside for your car insurance premiums. This is one of those payments you can’t afford to miss

Pay your premiums annually or bi-annually. By paying this way, you only have to remember to pay once or twice, as opposed to every month. Additionally, insurance companies usually give discounts to customers who pay yearly.

Have your payments taken automatically. Go with an auto insurance provider who has the option of automated billing.

Penalties for driving without insurance coverage vary from state to state. But no matter where you are, the price can be steep. Here are seven different things that can happen if you are caught driving with no auto insurance.

Your license can be suspended

The vehicle registration could be suspended

The car can be impounded.

If you hurt another person in an accident, you can be sued and are financially responsible.

You will have to pay fees to have your vehicle registration and license reinstated.

You could be required to meet to obtain SR-22 insurance, and it’s expensive!

Your car could be impounded by the police.