Things to know before buying a car insurance policy

In case, you want to buy car insurance policy, it is crucial to ensure that you know about the plot. There are many motor insurance india plans available on the market these days. You need to know what each plot offers and how exactly the features will benefit you. Also compare a lot of quotes to know what each insurance company is offering you. Choose on a plot that fulfills your specific requirements and budget plot.

Car insurance india is one of the most crucial legal aspects when buying car. There is no dearth of vehicle insurance corporations that present you with a selection of car insurance policies. One requires being extremely cautious while buying a car insurance india for the reason that it will determine the extent of cover under the event of any mishap that hurts the car or the driver. Stated below are a few things that you must consider before you buy car insurance policy.

Cover Requirement

It is crucial to know the type of cover you want. You should also know the minimum cover requirement as per the law. You can get this info on various insurance company sites.

Shopping

Do not buy car insurance policy from the first company that encounter with. It is suggested that you indulge in obscure shopping for quotes with different companies. You should compare the quotes in conjunction with features provided by each plot before small listing the prospective insurance india service provider.

Background check

This is crucial and highly recommended read and know the market standing of insurance company in your prospective list. Try to visit a number of review forums and consumer forums to avail a first-hand feedback about financial standing of the company and their service patterns.

Declared value

Your insurance cover majorly depends on the insurer’s declared value or IDV. This value is determined by your insurance corporation. It is suggested that you investigation and know the limit that influence the IDV.

Know your policy

It is crucial that you know the exact nuances of your car insurance india policy. It is best to elucidate all your uncertainties before you sign the dotted line.

Fine print

Consumers usually tend to ignore the fine print. It is vital that you read the fine print carefully. Most of the disclaimers are in fine print. Hence, make sure you don’t miss out on them.

Claim calculations

You need to check with your agent about the claim calculation procedure. Claims are usually paid on downgrade value of the car hence it is significant to verify what are standard depreciation slabs as stated by the law.

[Source:https://carinsuranceonline2015.wordpress.com/2015/12/30/things-to-know-before-buying-a-car-insurance-policy/]

Find the Best Car Insurance for You

Stop paying more than you need for car insurance. MoneyMax.ph gives you the power to compare premiums from different insurance companies so you can choose the best one for you. Whether it’s for personal or commercial cars, finding the right car insurance doesn’t have to be complicated. Read on for more information on car insurance, how it works, and how you can benefit from it.

What is Car Insurance?

Car Insurance is a contracted policy purchased by a vehicle owner where the insured pays a certain amount of premium in exchange for coverage given by the insurance company. The scope of coverage depends on the policy purchased. It can be as simple as coverage for bodily injury and death of a third party, to more complex protection against loss of property, personal injury, theft, and more.

Where Did Car Insurance Come From?

The concept of insurance was built to support society in times of unexpected and unforeseen events. It provides assistance in rebuilding homes, refilling food rations, or reimbursing merchants for gods lost at sea or along the road. Insurance has long been present in shaping civilizations and business.

Protect Your Hard Earned Money by Insuring Your Car

Accidents can happen regardless of how skilled a driver is. Having car insurance is the best way to manage risk. Its main purpose is to protect you from unexpected expenses in case your car gets damaged or stolen, or in case anyone riding your car gets injured. With car insurance, you don’t have to spend thousands on repairs or hospital bills. The extra protection gives you peace of mind every time you hit the road.

How to Claim Car Insurance

In cases of a vehicular accident, you can file a claim with your insurance provider for repairs or other forms of indemnification. Learn more about the steps and requirements for claiming car insurance at this page.

How Does Car Insurance Work?

Car insurance provides financial protection for vehicle owners, especially in cases where cars are involved in accidents, bodily injuries, and theft. Learn more about how car insurance works at this page.

What is Compulsory Third-Party Liability insurance?

Compulsory Third-Party Liability insurance (CTPL) is an insurance cover required by the Land Transportation Office (LTO) for all vehicle owners when they register a vehicle. Learn more about what CTPL insurance covers at this page.

What is Comprehensive Car Insurance?

Comprehensive insurance offers greater protection than CTPL insurance. It protects your cars from accidents that are not the result of a collision, such as flooding, theft, or fire. Learn more about comprehensive car insurance at this page.

Save Money on Car Insurance

It may be tempting to save money by sticking to CTPL insurance. But getting comprehensive coverage will keep you from spending thousands of pesos on repairs if your car gets damaged. Here some basic tips to help save you money when getting a policy:

·         Choose a cheaper car

Insurers consider the make and model of your car as indicators for repair and replacement costs. The more expensive your car is, the higher you pay for your premiums. If you are yet to buy your own car and wish to lower insurance cost, you might want to consider buying a more economic vehicle.

·         Keep a good driving record

Insurers partially base your risk level on your claims history and your driving record. If you’ve kept a good driving record, you are automatically entitled to discounts on car insurance rates. To make it simple, inexpensive car insurance can be a reward for careful driving.

·         Install safety equipment in your car

Get substantial insurance discounts by fitting your car with safety features such as driver alarm and anti-theft devices.

·         Pay your premiums annually

Paying your premium in an annual lump sum may reduce the cost of your insurance. Some insurers often charge you with additional fees if you choose to pay your premium on a monthly basis.

·         Shop Around! Compare Car Insurance Rates in the Philippines

MoneyMax.ph has all the information you need from leading car insurance companies the Philippines. Our powerful comparison platform lets you compare different premiums and spot the right one for your needs and budget. Click below to start comparing prices now. (Add call to action button below to go back to top)

[Source: https://carinsuranceonline2015.wordpress.com/2015/12/28/find-the-best-car-insurance-for-you/]

The Best Car Insurance for Credit Challenged Borrowers

Any new car purchase can test the stress of the buyer. After all, how do you know you are getting the best deal, and how can you make sure that your 2014 auto will be a good one on your budget? Some key questions can certainly help you along the way.

One of the most important questions you should ask is about insurance. When calculating the total cost to own a car – purchase price, maintenance, fuel, and others – the car insurance policy emerges as a big factor. Before you even consider a car, you should pay attention to anticipated policy costs as there can be a sizable difference with comparable new cars.

Shopping for Your Washington Car Insurance

Any car insurance policy is a legal contract and begins with declaration page. Every Washington car insurance has it’s own policy number, coverage limits, policy term and information about the insured and also a description of vehicles listed under your policy.

Every car insurance policy is unique and has it’s own identification. Your Washington best car insurance is a general agreement with a broad statement with all perils and risks covered listed under one form. This also has exclusions specific to events, states, policy types, forms and also circumstances which make them not be covered under your policy. If you have zero knowledge of insurance, the definitions make your concept of insurance clear and will avoid every misunderstanding.

Understanding Car and Co-Insurance

Rates comparison before buying a car insurance policy in Virginia is recommended with wide variety of policies and different companies giving you their best quotes online. All you need to do is take little time of yours and obtain the best quote by quotes comparison which can save your money and hence obtain the best deal for you. Your car insurance policy should define your needs and requirements, suitable for your budget. Opting for the best amongst many carriers in Virginia when made easy, roll out that time and get a car insurance of your choice.

Now Coinsurance

Do not do the mistake of signing up for just the face value or less than the face value if you insure something, be it a house or its content. Hence sign up for a co-insurance policy to know how and what exactly replaces the face value of a structure built or any of your prized possession.

When a claim is made and the amount is being paid by the insurance company, do not agree for anything less than what is required and instead pay for it out of your own pocket. Co-insurance has a clause where you will pay only a share of the expense incurred and rest will be paid by your home insurance policy. To end up obtaining 100% of your claim amount, talk to your agent today and get the best out of co-insurance and keep yourself updated with your policy.

Get A Good Rate

With a wide competitive insurance market in Virginia, you would enjoy your buy provided you shed out that extra time to gain certain knowledge on how a car insurance policy works and on how to make a smart choice when deciding on coverages. Having a car insurance is made mandatory, but opting for affordable and best policy is your choice. Get multiple quotes from different companies before you decide on any company and policy type. It is always better to talk to an agent, clarify your doubts and then proceed to obtain a Virginia car insurance policy.

[Source: https://blog.agentinsure.com/tag/car-insurance-policy/]

Compare Car Insurance in India

Car Insurance, also known as motor insurance. Car insurance provides protection against the major problem accoutred to your motor vehicle either due to an accident or theft. Here I want to mention the important line and the line is “The amount of premium for your car insurance is totally based on the Insured Declared Value (IDV) of the vehicle”. Now you got my point.

A higher IDV means an increase in premium. But always keep in mind a policyholder should always compare a range of options before opting a new policy and during the renewal of the old policy. Our aim is to compare car insurance online in India.

Why we need to do car insurance comparison 

In today’s world trusting on every insurance company can put you in trouble. Now days, when online sites are flooded with thousand insurance ads, choosing the right one and most suitable car insurance becomes extremely tough job for us. The one and only and best way to take the right decision is to compare quotes on car insurance, from the different insurance and verified companies before selecting a plan. That’s is why we need to compare car insurance online in India.

Here is the best platform called QUICKBIMA  (IRDA approved Insurance web aggregator). By taking the help from QUICKBIMA to compare quotes from various companies then we can pick the best premium available plan as per our needs. This is the way a smart costumer needs to compare car insurance and prefer to take the help of GIBL before choosing a policy.

Now you are at car insurance from. Where you have to fill all the information correctly, so that you can find the best quotes for you.  to open car insurance form to compare car insurance online in India.

Please fill the information required to generate car insurance quote and click continue , you will be taken to the comparison and quote table

[Source: https://carinsuranceonline2015.wordpress.com/2015/12/23/compare-car-insurance-in-india/]

Understanding Credit Score and Car Insurance

A credit score is a number indicating a person’s likelihood of paying his or her debts. Lenders in the financial industry such as the banks and the credit card companies use the credit score to verify the risk in lending money to the borrower. Use of credit score facilitates the availability of credit for borrowers. Credit score is not limited to borrowing but extends to auto insurance premiums.

Credit Score and Insurance Premium

Insurance Company usually provides the base premium rates for evaluating the insurance score for the vehicle. Car insurance score takes account of the credit history to predict the likelihood of involving in an accident or claiming the insurance for the vehicle. Research indicates that how the credit score and the chances of involving in an accident are inter-linked. Subsequently, the government ensures the car insurance companies offer fewer favorable terms for no credit or poor credit scores. The companies inform the consumers of their credit scores and maintain a record for future transactions.

Understanding Credit Score Calculation

The credit score calculation takes into account factors such as the number of accounts held by the borrower and the negative records in the account, including late payment penalty, or pending dues.

Here is a closer look at the credit-based insurance score.

Percentage of Credit Score Depends On  Explanation

10%        New Credit It includes the information on the new account you have opened and the proportions of the new borrowing account with the previous ones. It takes into account the number of inquiries you have made and any problems in repaying the loan.

10%        verifying the type of accounts you have and the current mortgage Factors such as revolving credits and loans paid in installments are taken into consideration. There is a good chance of achieving a favorable credit score, if you have different accounts.

15%        Time of your credit history Lenders track the activities since you first borrowed the loan until the recent status. A longer credit history favors your credit score.

30%        Current amount of debt the amount of money you will have to repay to the lenders including the current balance. It also verifies the current method of repayment and the consistency of the payments to the loan accounts. Having zero balance accounts will play a role in deciding your credit score.

35%        Payment history it checks how many accounts you are currently paying the loans and any negative records of the repayment. It also checks if any item went unpaid beyond the due date. The length of time you have delayed is one of the important factors.

Your payment history is the largest part of your credit score. Payment history alone can make a bigger difference in the credit score. If your payments are in time, you will have a higher credit score.

How Credit Score Can Lower Your Car Insurance Premium?

The credit score is inversely proportional to the premium amount. If you have a higher credit score, then your insurance score will be higher. Therefore, there is a greater chance of qualifying for a lower car insurance premium that offers wider range of cover.

However, if your credit score is low, you will have to pay a higher auto insurance premium, and may not be legible for greater insurance cover. In many cases, drivers have paid more than 80% for the same cover than the drivers with good credit scores.

Thus, keep your credit score higher and save money on car insurance premium.

[Source: http://www.policybazaar.com/motor-insurance/car-insurance/articles/understanding-credit-score-and-car-insurance/]

How To Lower Your Car Insurance Costs Once And For All!

With fuel costs escalating out of control these days, car running costs are becoming a serious burden for the average family, especially families with more than one car. Because of this reason more and more people are looking for ways to control the costs associated with their family transport.

One such cost is the cost of car insurance. Below are 7 tips for lowering your car insurance costs:

1. Drive carefully. It may sound obvious but as insurance premiums are related to risk then your manner of driving is related to your insurance premiums. Safer driver equals lower premiums. It may not seem so at the time but those traffic violations or speeding fines reflect in your bill.

2. Have a look at other insurance policies you have with other companies. Many insurers offer discounts for combining all your family insurance with their company. Find out who they are and get a quote on all your policies combined.

3. Also note the differences in premiums you would be paying for the type of car insurance you have. Different types of car attract different levels of premium because, in particular, different types of car are driven by different types of people, who may have different types of risk profile. Sports cars, for example, will usually show a higher rate of accidents than staid boring family cars.

4. Consider your deductible. This is the amount you pay first out of any claim, and the cost of your policy is directly related to the amount of your deductible. Higher deductible – lower premium. So consider carefully whether you could afford to pay a higher amount first from any accident and raise your deductible. If so, you will get lower premiums.

5. Safety and anti theft devices can reduce the insurance costs for a car. Talk to your insurance company and find out if there are any safety or anti theft devices that you can install to reduce your premium. Then consider installing them making sure that you notify your insurance company once you have done so. And why not ring up your company and make sure that they are aware of any safety and anti theft devices you already have, if they aren’t you may get a reduction.

6. Always look online for a competitive quote from other companies. Most of the major players and brokers are represented online and it is extremely competitive. Be sure to take advantage of this fact.

7. Don’t just pay your premium blindly without checking if you can do better. Car insurance rates vary all the time and so even if it was the best rate last year it may not be this year. Every year shop around to see if you can do better, you may be surprised.

[Source: https://carinsuranceonline2015.wordpress.com/2015/12/21/how-to-lower-your-car-insurance-costs-once-and-for-all/]

Car insurance secrets revealed

Car insurance commercials tout low rates but don’t tell you just how the companies set those rates. Consumer Reports’ two-year investigation found that many major insurance companies base prices in part on a hidden credit score that can take into account things like what type of credit card you have or whether you’ve applied for credit recently.

That cheapest car insurance credit score is different from your FICO score, and how it figures into your premiums varies depending on the insurer and your state. Companies use it to predict not whether you’ll be a good driver but whether you’ll file a claim.

Consumer Reports compared rates for hypothetical drivers who are single with clean driving records. In Florida, the average annual premium for those with an excellent car insurance credit score is about $1,400. With just a “good” score, it is more than $1,700, and with a poor score, more than $3,800. That’s a much higher premium than for those with an excellent score and a drunk-driving conviction.

Consumer Reports research shows that some insurers penalize you more for a poor credit score than others. For those drivers in Florida with a poor score, Amica Mutual charges $7,200, but GEICO charges $2,300. So GEICO is a better choice if you have a poor score in Florida.

You can get information for other states here.

California, Massachusetts, and Hawaii prohibit insurers from setting prices based on credit scores. Insurance premiums in those three states are based much more on how people actually drive, which Consumer Reports says is much more fair. But it does mean that if you have an accident in those states, your rates could go up higher than elsewhere.

If you suspect that your car insurance company has given you a low score, ask the major credit bureaus —TransUnion, Experian, and Equifax — for your credit report and correct any inaccuracies. That may help improve the score the insurance companies use. You can get your free credit report at annualcreditreport.com.

[Source: http://wwlp.com/2015/09/01/car-insurance-secrets-revealed/]