People have many questions and doubts regarding car insurance.

Auto Insurance Questions Answered

People have many questions and doubts regarding car insurance. However, this article answers few of the most asked questions. So, go through and find out more about auto insurance.

If I own a classic car or a modified car, will someone offer insurance? If yes, then who will do so?

The answer is yes, it is possible for you to insure your modified car. However, things will be difficult because not many car insurance companies will be ready to provide protection or coverage to a specialist car. The reason is that repairs are quite expensive for such cars and it will also require quite expensive replacement parts. Besides that, if the car encounters an accident, then skilled labour and high priced parts will be required. Therefore, you might have to take a customised car insurance designed for classic and modified cars.

How can I save on my insurance premium?

There are a number of ways in which you can do this. One thing is that you can park the car in your garage overnight instead of leaving it outside on your drive. Make the surroundings and your car safer by installing anti-theft devices that your insurer approves. When you request for quotes, also enquire about any special discounts that you might avail of. If you are under 25 then have an additional certificate for your driving course.

What is meant by 'excess'?

This is the amount that you will pay when making claims for any damage or loss to your car. This can be either voluntary or mandatory. If the accident is somebody else' fault then you will be able to claim your excess through a legal cover that you can take out along with the car insurance. If you do not then you will lose your excess.

If you go for voluntary excess then you can get premium discounts. Compulsory excess is most often for young drivers. The reason is the high risk factors and the fact that companies do not prefer to insure their kind. Therefore, in order to get insured they need to pay.

What do you mean by legal cover?

You will need legal expertise as well as assistance in order to recover any uninsured losses including medical expenses, loss of wages, excess payments, in cases where it was not your fault. Therefore, you might need legal cover to pay for legal counsel. However, it is optional.

Does my insurance company have the authority to cancel my policy?

Yes, they can. In the case where you fail to make payments for your premium, your license is suspended, revoked, in such cases the insurance company can cancel your policy. They can do so if they suspect of fraud or any serious misrepresentation in your application form, if you stand convicted in some crime or in the case where your property is changed increasing the risk for the company.

Bookmark or share this article

Share |

Comments

No comments have yet been made.

Sponsored links