Car Insurance Information You Must Know
Insurance is provided to cars and other four wheelers to guard the owner's risk against third party liabilities, damages due to accidents, theft etc. It typically covers the cost of such untoward incidental expenses thereby sharing the financial burden of the owner.
The coverage can be for the insurance party, the vehicle or third party. The premium of the car insurance is determined after considering many factors such as gender, age, type of vehicle, car's make, model, year of manufacture, previous claims, etc. It is also dependent on the city where you reside. For example, if you are a resident of Miami, than your insurance will also depend on the city norms in addition to the above factors.
Internet is the best alternative to find the best deal for your auto insurance in Miami. A search on car rental insurance agencies in Miami city will give you the city wise details of insurance providers. Some deal online and hence will give you the flexibility of choice for the best provider without the need to roam around searching for the best deal. In fact, research has shown that a comparison of car insurance premiums and coverage of different service providers save up to 40 % for the car owners (while making deals online)?
Car insurance coverage damages to vehicle by fire, lightning, explosion, flood, hurricane, typhoon, storm, cyclone, frost, rockslide, landslide etc. Some car insurances also cover the loss or damage to vehicle due to natural calamities. This is a great advantage if you are living in an earthquake prone area. Some car insurances are extended to manmade calamities such as terrorist activity, theft, strike, damages in transport of the vehicle etc.
The insurance can be extended to personal accidents to the driver and co passengers as well. The third party coverage protects you from accidental damages which result in permanent disability or death of a person or damages to the surroundings. The premium of car insurance will depend on the extent of coverage sought for.
The car insurances does not provide for the coverage of normal wear and tear of vehicle. It also does not account for the depreciation charges and loss due to any electrical or mechanical breakdown of the car. The insurance companies does not offer protection for damages caused due to negligent driving, rash driving, drunken driving or driving by persons without a valid license. Damages incurred due to war, strike or nuclear attack is also not covered.
Car insurance is for the Insured's Declared Value (IDV) which depends on the selling price of the vehicle fixed by the manufacturer. Depreciation for the vehicle is deducted from the original price for each completed year following the year of manufacture. The cost of additional fittings, if any, is added to the selling price for calculation of depreciation.
Several states of US have made the car insurances compulsory. Some states offer flexibility of coverage in insurance too. The excess payment that should be paid each time when the car undergoes repair through the insurance policy is termed as "deductible". The insurance premium, deductible and other coverage facilities offered depends on factors such as driving history, age, gender, predicted annual distance traveled etc. The liability of the coverage is also varied depending upon the resident state of the applicant, be it Miami or Wisconsin. Whatever method be the choice of your car insurance provider, a sensible driving always saves money and trouble.
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