We're talking about insurance policies a lot here, but never discussed its true nature. Here is an article by Dr Edmund Chow that explains this.
How an Auto Insurance Policy Works
As the name suggests, insurance for vehicles is known as auto insurance. This is a method of providing financial support against any physical damage to the vehicle resulting from road accidents. Additional terms for insurance might vary from one region to another. In some countries, it is obligatory to have insurance as soon as the vehicle is bought. Financial protections against theft or loss of the vehicle might be offered additionally depending on the legal regulations of a country. In case of a new driver insurance could be a bit expensive as there is a chance that claims from new drivers might be high. People who are driving other owner's vehicles may opt for insurance policies such as the 'pay as you go'.
Auto insurance also means financial aid for replacement of vehicle parts that have worn due to wear and tear over a period of time. Applying for insurance has become very easy during these days of advanced technology. Almost every country has government and private insurance companies with online application facility. Customers can either contact the insurance company directly or fill out an online form. In both cases, it is vital to read the terms and conditions page thoroughly and choose the plan accordingly. The process will be complete only when the application is moved forward by a representative from the insurance company.
In some countries, auto insurance is free for a year from the date of purchase of a vehicle. This is because the vehicle dealers have links with the auto insurance companies where the premium of the insurance is included in the price of the vehicle. This is a hassle free process for the customer. The car dealers decide the premium on insurance keeping some factors in mind and this increase proportionately according to the price of the vehicle.
Every vehicle such as two wheelers, private cars and trucks parked on public places must have auto insurance and this is not inclusive of any electrical damage to the vehicle. Documents such as the vehicle registration copy, policy papers, driving license and a Fir copy is submitted for insurance. Some insurance companies might not offer compensation for substantial loss of the vehicle outside the geographical area that the company covers. In case of a mechanical breakdown, the vehicle owner has to bear charges according to some auto insurance policies.
Auto insurance relates to the vehicle and its driver and this varies from person to person. Insurance for women is cheaper than men in some countries. Many a times, vehicle owners might not get insurance for a number of reasons. If accidents occur due to the driver's carelessness and downgrading of the vehicle due to climatic factors, insurance will not be achieved. Different insurance companies have several different plans to suit the customer's needs and one has to choose the policies wisely before reaching to any conclusion. Customers can benefit from the online facility some auto insurance companies' offer which has clear step by step explanations of the different services and the application process.
To know more please visit: http://www.autocarinsuranceplans.com
Auto insurance also means financial aid for replacement of vehicle parts that have worn due to wear and tear over a period of time. Applying for insurance has become very easy during these days of advanced technology. Almost every country has government and private insurance companies with online application facility. Customers can either contact the insurance company directly or fill out an online form. In both cases, it is vital to read the terms and conditions page thoroughly and choose the plan accordingly. The process will be complete only when the application is moved forward by a representative from the insurance company.
In some countries, auto insurance is free for a year from the date of purchase of a vehicle. This is because the vehicle dealers have links with the auto insurance companies where the premium of the insurance is included in the price of the vehicle. This is a hassle free process for the customer. The car dealers decide the premium on insurance keeping some factors in mind and this increase proportionately according to the price of the vehicle.
Every vehicle such as two wheelers, private cars and trucks parked on public places must have auto insurance and this is not inclusive of any electrical damage to the vehicle. Documents such as the vehicle registration copy, policy papers, driving license and a Fir copy is submitted for insurance. Some insurance companies might not offer compensation for substantial loss of the vehicle outside the geographical area that the company covers. In case of a mechanical breakdown, the vehicle owner has to bear charges according to some auto insurance policies.
Auto insurance relates to the vehicle and its driver and this varies from person to person. Insurance for women is cheaper than men in some countries. Many a times, vehicle owners might not get insurance for a number of reasons. If accidents occur due to the driver's carelessness and downgrading of the vehicle due to climatic factors, insurance will not be achieved. Different insurance companies have several different plans to suit the customer's needs and one has to choose the policies wisely before reaching to any conclusion. Customers can benefit from the online facility some auto insurance companies' offer which has clear step by step explanations of the different services and the application process.
To know more please visit: http://www.autocarinsuranceplans.com
Source: EzineArticles.com.
Thank you Edmund! That was a great article.
Nadav
nadavs
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