Choose Your Car Insurance Provider Wisely And Smartly

Vehicle Insurance is a very important task. As per the government regulations, an uninsured vehicle cannot be used on the road. There is a very significant reason behind it. In cases, where there is no vehicle insurance, the vehicle owner faces a very high unexpected expense. There are many who do not have the resources to bear these expenses.

Like if there is a hit and run case and the vehicle has insurance. Compensation can be claimed by the victim from the insurance company. However, if there is no insurance, the person who owns the vehicle has to bear the expenses. So in such cases, immediate relief to the victim is not possible. The state has to make efforts in order to get compensation to the victim.

Choosing an insurance provider is not an easy task. It is a very tiresome and complex task with so many fine prints that a person needs to understand the policy before purchasing it. There are six major dimensions that a vehicle insurer covers

  • Bodily Injury Liability
  • Collision Liability
  • Property Damage Liability
  • Medical Payments/ Personal Injury
  • Comprehensive
  • Uninsured/Underinsured Motorist Protection

A person needs to understand that none of these are ignored or exempted by the insurer in the fine prints. Many policies do not cover a few of this coverage. A person never finds out about these aspects until he faces a denial of claim by the insurance company. So in order to get your vehicle insured one must follow the given guidelines for a complete coverage, assuring a total peace of mind.

Gather Market Knowledge

Do not just go to an insurer and buy a policy. Try to gather information via internet and through different insurance agents. A simple effort will give you a clear knowledge about the various liikluskindlustus or motor insurance options.

Policy Details

Try to know the coverage, the insurance policy provides, before buying an insurance policy. Ensure that it gives you a 360 degree protection on all the six factors given above.

Buy From the Company Itself

Buy the insurance from a company office or a company authorized agencies only. Do not involve third party agencies as intermediate. The more directly the contact is, the better it is.

Know The Claim Procedure

It is better to inquire the procedure to file and receive the claim and it is recommended to ask the agent or company to give a written note on the procedure.

Know The Limitations

There are several aspects like claim limit, minimum claim amount, medical compensation limit, etc. One should inquire about these before purchasing the insurance policy.

Get Proper Reciepts

Never make a single payment to the insurer without a proper receipt. Ensure that you receive the policy on time. There might be an accident in the first few days of insurance and if there is a delay from the agent, you might not get any claim.

So, the easy task of getting your car insured is not so easy. There are many fine prints, you might end up paying a huge price, if you ignore the fine prints of the policy.

Author: Richard Casteel

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Richard is the chief author of this blog. He worked as a financial advisor in money market form last 10 yrs. His financial sense in Share trading and any other trading is just outstanding. He just shares his knowledge and experience through this blog. You can contact him directly though

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