Auto insurance can be quite a confusing topic. For that, we have Catherine T Wilson to answer some common answers and eliminate confusion.
Answers To 6 Confusing Auto Insurance Questions
Insurance agents know that invariably, the same insurance questions will be asked by different customers. These frequently asked questions include, how insurance works, to how to get a good deal on insurance. If you are one of those people that have insurance questions, but have never asked them, you may want to keep on reading.
Should I wait until it is time to renew my insurance to shop for a better deal?
The short answer is no. You can shop for insurance at any time. In fact, doing so may even save you quite a bit of money.
Before switching insurance companies, you should check to see if you will be charged an early cancellation fee. If so, you should calculate if the cancellation fee is more than the money that you will be saving if you switch. If the fee is more than the savings, you should wait until your policy expires before switching.
Is there a difference between an insurance agent and an insurance broker?
Yes. An insurance agent is an expert on insurance and just works for one particular insurance company. Because the agent only works for one company, the agent has a lot of information on the insurance company. A broker, on the other hand, sells insurance policies for a number of different insurance companies.
Because the agent may work primarily with one company, he or she may not be able to answer all of your questions on a particular company without doing some research. However, an insurance broker can probably offer you a better deal on insurance than an agent can, simply because they do work with a lot of companies.
Are online insurance quotes accurate?
Because it is quick and easy to get a quote online, many people get quotes this way. However, there is also the fear that online quotes are not exactly accurate. If you are honest when you fill out the forms online, you should get a good quote. For example, don't lie and say that you don't have any tickets if you do. If you have been pulled over for drunk driving, you should also be honest about that in order to avoid any unpleasant financial surprises in the future.
When do I tell my insurance company that I've purchased a new vehicle?
In some cases, you may have a grace period of up to two weeks. However, it is best to report a newly purchased vehicle to your insurance company as soon as possible. This is true whether the vehicle is a new vehicle or a used vehicle. It also does not matter if you are leasing or purchasing the car. In some areas, you may have to prove that you have car insurance before driving your car off the lot. It all depends on the laws in the area where you live.
Can other people drive my car?
You can let anyone borrow your car if you like as long as they are a licensed driver. In most cases, they will be covered under your insurance policy. However, this means that you are responsible for whatever happens while that person is behind the wheel of your vehicle. For example, if your friend is in an accident in your car, your car insurance rates could increase. You could also be forced to pay any parking tickets accrued while your friend was driving your vehicle.
Finally, be sure to thoroughly read your auto policy and ask questions before you sign on the bottom line!
Even though they are the recipient of the Readers Choice Award in 2011 and 2012 for best insurance company, Steele and Ferraro LLC doesn't sell you insurance, they help you buy it! They help you find the exact coverage you need, at the best price available on the market. Discover how Guelph insurance brokers can save you money on all of your insurance needs ( Click Here ).
Source: EzineArticles.com.
Should I wait until it is time to renew my insurance to shop for a better deal?
The short answer is no. You can shop for insurance at any time. In fact, doing so may even save you quite a bit of money.
Before switching insurance companies, you should check to see if you will be charged an early cancellation fee. If so, you should calculate if the cancellation fee is more than the money that you will be saving if you switch. If the fee is more than the savings, you should wait until your policy expires before switching.
Is there a difference between an insurance agent and an insurance broker?
Yes. An insurance agent is an expert on insurance and just works for one particular insurance company. Because the agent only works for one company, the agent has a lot of information on the insurance company. A broker, on the other hand, sells insurance policies for a number of different insurance companies.
Because the agent may work primarily with one company, he or she may not be able to answer all of your questions on a particular company without doing some research. However, an insurance broker can probably offer you a better deal on insurance than an agent can, simply because they do work with a lot of companies.
Are online insurance quotes accurate?
Because it is quick and easy to get a quote online, many people get quotes this way. However, there is also the fear that online quotes are not exactly accurate. If you are honest when you fill out the forms online, you should get a good quote. For example, don't lie and say that you don't have any tickets if you do. If you have been pulled over for drunk driving, you should also be honest about that in order to avoid any unpleasant financial surprises in the future.
When do I tell my insurance company that I've purchased a new vehicle?
In some cases, you may have a grace period of up to two weeks. However, it is best to report a newly purchased vehicle to your insurance company as soon as possible. This is true whether the vehicle is a new vehicle or a used vehicle. It also does not matter if you are leasing or purchasing the car. In some areas, you may have to prove that you have car insurance before driving your car off the lot. It all depends on the laws in the area where you live.
Can other people drive my car?
You can let anyone borrow your car if you like as long as they are a licensed driver. In most cases, they will be covered under your insurance policy. However, this means that you are responsible for whatever happens while that person is behind the wheel of your vehicle. For example, if your friend is in an accident in your car, your car insurance rates could increase. You could also be forced to pay any parking tickets accrued while your friend was driving your vehicle.
Finally, be sure to thoroughly read your auto policy and ask questions before you sign on the bottom line!
Even though they are the recipient of the Readers Choice Award in 2011 and 2012 for best insurance company, Steele and Ferraro LLC doesn't sell you insurance, they help you buy it! They help you find the exact coverage you need, at the best price available on the market. Discover how Guelph insurance brokers can save you money on all of your insurance needs ( Click Here ).
Source: EzineArticles.com.
Thank you Catherine!
I hope this answers some of your questions,
Nadav
nadavs
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