Thursday, 7 April 2011

Additional Tern Insurance, Insurance Policy

When your auto insurance cancels, the insurance company is required to notify the Motor Vehicle Administration of the insurance termination date. You will be asked to get a FR-19 insurance certification form from each insurance company that has provided liability insurance prior to the termination date. You can obtain a FR-19 from your agent or your insurance company.My vehicle is stolen. What do I do?

Call the police and make a police report, then call your insurance company and provide:

The specific location from which vehicle was taken, when the theft was discovered, when the vehicle was last seen at the location and the police precinct and police report number.

I just got a speeding ticket or had an accident. How will this affect my auto insurance?

Most often, the ticket/accident will result in an increase of your insurance premium.

What happens if I am in an accident with someone who was driving illegally without Insurance and she or he is at fault?

To protect yourself in the event you are involved in an accident with an uninsured illegal driver, be sure to keep your insurance coverage paid up to date. With uninsured motorist coverage, you will be paid for damages just as if the other driver were covered.

I recently bought a new car. When I applied for a loan, I was told I would have to buy collision and comprehensive coverage on my new car, as well as what is required by law. Why?

It is not unusual for a lender to require full coverage on a new car. Your new car serves as the collateral for the lender, so it is in the best interest of the lender to have it financially protected. This is legal so long as the lender does not mandate which insurance company you must use.

Why are car insurance rates higher for young men than young women?

Insurers use statistical evidence to determine which groups, such as young males, are more likely to have more accidents and file more claims. Under-25 drivers, particularly men, are much more likely to be involved in accidents. (15% of all licensed drivers are under 25, yet this group accounts for 29% of all accidents, and 26% of fatal accidents.)

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