For many people taking out car insurance can be a daunting task. Possibly their first thought is about what type of policy, level of cover, premium and company they should choose, and that’s even before deciding whether to go it alone with a telephone-based or internet company, agent or broker.
But take a step back and bear in mind that the insurance company or broker should be one that can offer the best professional advice, the right type of product for the individuals’ circumstances together with the most competitive price.Anyone who drives must know that they should be insured, because it’s a legal requirement. After all, it’s illegal to drive in Spain (as it is in England) without at least Third Party Insurance. Briefly, in terms of level of cover, Fully Comprehensive is possibly the most commonly contracted, and probably one that protects the insured the most. However, to go one step further one can take out Fully Comprehensive policy with Protected No Claims Bonus, meaning that the policy holder would not lose their bonus should they need to make up to a stipulated number of claims within an allotted period.
Regardless of whether one decides upon Fully Comprehensive, Third Party or one of the levels in between, the client will have to prove their right to No Claims Bonus (a reduction in insurance premium for having no insurance claims in a previous period), from their previous insurance company (most companies will accept bonus proof from a client’s home country).
Aside from the various levels of cover there are many other definitions, specific terms and conditions; all of which can be quite detailed and confusing. Many policies offer immediate cover, up to 65% no-claims discount, assistance and repairs service 24/7, legal assistance and a courtesy car. Further upgrades to complement standard cover can be included, such as roadside assistance 24/7, loss of keys, damage to personal items and luggage left in the vehicle, legal assistance and increased third party liabilities to include both compulsory and voluntary cover and public liability cover for pedestrians and cyclists. Some policies can even cover against loss of driving licence, points on your licence or fines. Nevertheless, as there are many options depending on individual requirements, it’s worthwhile discussing this further with the insurance company or your insurance broker.
Whatever type of company a client seeks to contract their insurance policy with, ensure it can offer the best professional advice on the right type of insurance product for their circumstances and at the most competitive price. It’s invaluable dealing with an established, experienced company that can offer products in English, with specialist departments with multi-lingual operators who can assist ‘international clients’ by phone, or face-to-face with one of their intermediaries, a company that can tailor-make policies to suit specific requirements and understands a client’s specific lifestyle. Basically, a company that can take the time to explain all the “ins-and-outs” in plain English and help guide the customer through the minefield that can be car insurance.
Car Insurance Source
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There is no "one-size-fits-all" car insurance, insurance is dependent on a number of circumstances. Young drivers should investigate the car insurance policies that they are considering and look for the policy that fits them.
Tuesday, December 9, 2008
Monday, December 1, 2008
Car Accidents can inflate car insurance price
It has been revealed that car drivers who have an at-fault car accident could result in having their car insurance premiums hiked up by more than 60%.
This statistic was taken from a website which showed 10 million quotes from users, looking at the effects of having made an at-fault claim on their car insurance.
The study also found some surprising results. For example, the research found that bus conductors and GPs were the professionals that were most likely to have a road accident, but less than 1.5% of driving examiners were to blame for an accident.
In contrast to this, au pairs and magistrates were the least likely professions to be involved in a collision, thus they presented a low risk.
Peter Gerrard, head of insurance research stated: “When an insurer risk assesses a driver, any history of accidents will no doubt mean motorists pay more.”
Car Insurance Source
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Car insurance coverage can lessen the financial impacts of car accidents, but drivers should still not be too complacent on the road because their car accident history can inflate the price of car insurance.
This statistic was taken from a website which showed 10 million quotes from users, looking at the effects of having made an at-fault claim on their car insurance.
The study also found some surprising results. For example, the research found that bus conductors and GPs were the professionals that were most likely to have a road accident, but less than 1.5% of driving examiners were to blame for an accident.
In contrast to this, au pairs and magistrates were the least likely professions to be involved in a collision, thus they presented a low risk.
Peter Gerrard, head of insurance research stated: “When an insurer risk assesses a driver, any history of accidents will no doubt mean motorists pay more.”
Car Insurance Source
~~~~~~~~~~~
Car insurance coverage can lessen the financial impacts of car accidents, but drivers should still not be too complacent on the road because their car accident history can inflate the price of car insurance.
Thursday, November 27, 2008
Understanding Car Insurance Coverage
(NAPSI)-Each year, millions of Americans prepare their vehicles for winter's inclement weather and treacherous travel conditions. Unfortunately, many do so without a key element-the certainty of whether or not their auto insurance policy protects them for any unexpected accidents they might encounter along the way.
A survey commissioned by Allstate-in conjunction with the introduction of the Good Hands® Coverage Checkup, a checklist provided by Allstate agents to help review consumers' car insurance policy limits-indicated that approximately 60 percent of respondents are not confident they understand their car insurance coverage.
Confidence Gap
More than 40 percent of consumers first answered that they were not confident in their understanding of their auto insurance coverage. However, after being quizzed on specific incidents such as hitting a deer and crashing after a tire blowout, the number of respondents who admitted they weren't confident rose significantly-to nearly 60 percent.
"When the unexpected occurs, the difference between hoping you're protected and knowing you are is crucial," said Lisa Cochrane, vice president of marketing, Allstate. "That's where Allstate's network of more than 14,000 agencies can help consumers feel confident in their coverage."
Additional survey findings included:
• It's all in a name: A higher percentage of respondents who know their insurance agent's name feel more confident in their knowledge of their auto insurance policies than those who don't have an agent or don't know the agent's name.
• The great equalizer: Prior to being polled on accident-specific questions, 70 percent of men were confident they understood what their insurance coverage includes, compared to just 50 percent of women. Following the questions, men dropped to a 50 percent level and women to a 33 percent mark.
Coverage Checkup
Allstate developed its Good Hands® Coverage Checkup to help consumers review their current auto insurance policy limits and identify where they may need more coverage or less. An invaluable checklist the company's agents can provide-the checkup is free for all consumers, regardless of their insurance carrier-takes just 15 minutes, can help uncover gaps in coverage limits that could expose a consumer to financial risk and points out available discounts and savings.
Car Insurance Source
A survey commissioned by Allstate-in conjunction with the introduction of the Good Hands® Coverage Checkup, a checklist provided by Allstate agents to help review consumers' car insurance policy limits-indicated that approximately 60 percent of respondents are not confident they understand their car insurance coverage.
Confidence Gap
More than 40 percent of consumers first answered that they were not confident in their understanding of their auto insurance coverage. However, after being quizzed on specific incidents such as hitting a deer and crashing after a tire blowout, the number of respondents who admitted they weren't confident rose significantly-to nearly 60 percent.
"When the unexpected occurs, the difference between hoping you're protected and knowing you are is crucial," said Lisa Cochrane, vice president of marketing, Allstate. "That's where Allstate's network of more than 14,000 agencies can help consumers feel confident in their coverage."
Additional survey findings included:
• It's all in a name: A higher percentage of respondents who know their insurance agent's name feel more confident in their knowledge of their auto insurance policies than those who don't have an agent or don't know the agent's name.
• The great equalizer: Prior to being polled on accident-specific questions, 70 percent of men were confident they understood what their insurance coverage includes, compared to just 50 percent of women. Following the questions, men dropped to a 50 percent level and women to a 33 percent mark.
Coverage Checkup
Allstate developed its Good Hands® Coverage Checkup to help consumers review their current auto insurance policy limits and identify where they may need more coverage or less. An invaluable checklist the company's agents can provide-the checkup is free for all consumers, regardless of their insurance carrier-takes just 15 minutes, can help uncover gaps in coverage limits that could expose a consumer to financial risk and points out available discounts and savings.
Car Insurance Source
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