Cars are expensive, and car accidents can be even more expensive. In addition to car damage, there are also medical bills to consider. This is why car insurance is required by law; it protects you from the cost of damage and injury. The insurance companies step up to absorb the cost in the event of a catastrophic event; they are able to do so because you pay your premiums. So when you do get into an accident, you will have someone behind you to cushion the blow. The type of coverage you can get depends on the laws in your state, the value of your car, and how much of your own money you're willing to spend if you get into an accident. Collision coverage, liability coverage, medical coverage, Personal Injury Protection, comprehensive coverage, uninsured motorist coverage, underinsured motorist coverage, and rental reimbursement are several common types of insurance that you want to look into when considering your insurance policy.
Collision coverage is very basic: it pays for damages to your car if you hit something. Only collision coverage pays for damage you cause to your own vehicle, but you can also use it for accidents in which you were not at fault. For instance, when your insurer will pay your damages and then go seek reimbursement from the other driver’s insurance. In collision coverage, if you wreck your own vehicle, your insurer will pay for the cost to repair the vehicle, or if the cost to repair is more than the value of the vehicle, they will pay to replace it based on its market value at the time of the accident.
Liability coverage is required by most states. It covers property damage and injuries to others caused by your car. So, if you drive through you neighbor’s fence, collision coverage covers the damage to your...
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...ent a car while yours is in the shop due to an accident.
Insurance helps you cover those costs. Basically, you pay for an insurance policy, which is cheaper than the costs you'd likely incur because of an accident. Then, if you have an accident, the policy covers some of the costs associated with it. What your insurance policy covers depends on the type of coverage you buy. The type of coverage you get depends on the laws in your state, the value of your car, and how much of your own money you're willing to spend if you get into an accident. Having insurance protects you from the cost of damage and injury. The insurance companies step up to absorb the cost in the event of a catastrophic event; they are able to do so because you pay your premiums. So when you do get into an accident, you will have someone behind you to cushion the blow, and you will be glad you did.
A deductible is how much money you have to pay out of pocket before your insurance will pay for the rest. Let's say you total your car, your insurance may ask that you pay off 1,000$ worth of the damages before they pay. Though there is no universal amount that you have to pay, it fluctuates with what insurance you have. It typically fluctuates on how expensive the insurance is. If you have a more expensive insurance the deductible will usually be lower, rather than higher like someone with a lower expense insurance. Even if you have a high deductible you are still able to negotiate with the insurance company to get a lower deductible.
Hit-and-run accidents are first and foremost a criminal case that is handled by law enforcement and criminal courts. However, this may also be a case of wrongful death, which can lead to civil court as a personal injury
Renters Insurance can give people peace of mind and protect them from liability should damage to others property be a result of something they did. Talking with an insurance agent can help to determine the coverage a person needs to be based on the property they are renting and the items they need to cover. A good number of people choose to forego getting renters insurance because they fear it will cost too much; the truth is the cost of cover another person(s) property become damaged would far exceed the monthly amount for protection. An insurance agent can also help to keep the monthly premiums low by discussing the options for coverage that is needed. Going through the same company that provides their auto insurance can also get people a discount on having multiple policies helping to lower the cost of being
The driver who was at fault during the collision was the one that was going faster than the other car, which it makes both of them crash against each other. The reason why, was because the other car who was at
Insurance is as ancient as Babylon. The first policy dates back to 2100 B.C.; specifically, it is the Code of Hammurabi. A loan from a trader made certain his valuable cargo traveled safe from the harm of thieves or storms (Marples). The term changed drastically through the ages, and insurance is now a mess of premiums, tiers, and co-payments. It may most commonly be known as a negative number on a check stub that ensures health and safety. There exists not one company that covers everything on just one plan, but a step forward may change that.
Having a driver's license means responsibility. I have always been hesitant to get a license and still am a bit because I know how much responsibility comes with one. Firstly, a car is quite dangerous. When driving a car, mistakes can be very costly, and the driver has to be well trained in order to handle those mistakes, or better yet, not make them. Secondly, there is a lot that goes into owning a car. You have to get it fueled, inspected, and keep good care of it. Having a car is almost like having a pet fish. You don't need to give it full attention, but you need to make sure it doesn't die. There is a lot of responsibility financially as well. You have to pay for things like insurance
People purchase insurance policies to help protect themselves and their property in the event of a catastrophe of loss. If a catastrophe or loss occurs, the person who owns the insurance policy will submit a claim. The person submitting the claim is called a claimant and a claim is basically requesting for the insurance company to reimburse them for their loss. A claims adjuster works with the claims that people file in those situations (Bureau of Labor Statistics 1).
Cost is also determined by your age, gender, where you live, how many miles on the car, and what type it is. For example if an 18 guy and 34 woman buy their insurance in NJ, him a 98 Toyota Celica with 45,000 miles, her a new BMW 530I, and both living in Ridgewood. The guy would pay more for his insurance because he’s more prone to have an accident with his sports car and he has less experience behind the wheel then she does.
Health insurance provides benefits for sickness, injury, surgery, and prescription medication. There are a variety of plans with different
An umbrella insurance policy covers excess liability. It can protect you from both property damage and bodily injury claims. They can also cover slander, false arrest and legal fees.
Insurance is a two-way legal agreement between the insurer and the customer. The customer, which may be an individual, business, or other entity, agrees to pay the premiums as required, in exchange for monetary protection from the insurer for any possible substantial loss. Customers usually obtain insurance, not to cover the trivial incidents of life or business, but to cover the potential significant losses which could be a financial hardship for them. The premiums of all customers of the insurance company are pooled together. The insurance applies statistical analysis to determine the chance that a particular event might occur to one of their customers. From this analysis they can determine the premiums which must be collected and the claims which must be paid to keep the insurance company financially profitable. There are many type of insurance including life, property and casualty, car, health, and disability. Each is very specific for what losses then will cover and reimburse (Pareto, n.d.).
If you are injured in a hit and run accident, you may be able to receive compensation for your damages from your own automobile insurance company. The compensation you are entitled to receive may depend on the coverage you purchased. The first step is consulted with one of our Baton Rouge hit and run accident attorneys. Our attorney will review your automobile insurance policy to determine your available coverage and explain your legal options to recover damages for your injuries, losses, and
Saving:-Along with the support of medical care that a policy provides, it is also important to note financial benefits that it gives. You save in two different ways with a medical insurance
When you are not able to control the vehicle or make rational decisions can happen you are much more likely to get into a car accident. Accidents the normally involve other people. Car accidents can be often fatal or life changing. These accidents can involve other people and not just you. One such story is about a couple who just recently got engaged to each other. On their wedding day they were driving down the highway and they we getting on the on ramp and a drunk driver was entering on the exit ramp. The two cars collided head on and seriously injured the woman. The mad was killed in the crash. The drunk driver left the scene. Another story was about a kid and his friends. They were driving they stopped at a stop sign and from behind them was a drunk driver speeding and the driver did not stop and rear-ended them causing the jeep to flip over and kill the kid. HIs friends were able to make it. The drunk driver went home and went to bed without even realising what he
Knowing how to drive a car myself, I can’t expect an accident to occur. It just happens without your knowledge and sometimes without your fault too. It’s better to take precautions just in case such a thing happens. This will surely help you financially for the repairs of the vehicle.