What You Don't Know About Auto Insurance

Navigation

What You Don't Know About Auto Insurance

News

Home


Auto Emergency Guide What to do in case of an accident or claim

Launch of UKAutoSearch.com - a Brand New UK Second-Hand Car Exchange Website

Creative Automotive Pictures, Things To Consider - Part 1

Find The Free Auto Repair Manual You Need Online

9 Ways to Reduce Your Auto Insurance Rate

Buying Automobile Insurance

Article Automation Rears An Ugly Head

Auto Parts Fast Features the Best Headlights, Taillights, Foglights, Turn Signals and Altezza Taillights for Toyota, Honda, Jeep, BMW and Ford

6 Must Have Auto Accessories

Purchasing Cheap Auto Insurance For Your Teen Son

Automotive Dealer Website Secrets - 7 Steps to Making Yours a Smashing Success

Mazda Launches First Hydrogen Filling Stations In Japan

Auto Loans - Are You Over Paying?

Honda Turbochargers at Inner Auto: Excellent Quality at a Low Price

The Ins And Outs Of Auto Insurance

First Rate Fog Lights from Auto Parts Deal

Online insurance quotes California auto

Auto Parts Fast Features High Quality Parts to Improve Your Honda's Fuel Mileage

Choosing The Best Auto Insurance Company

Browsing Through the Auto Parts Online Blog

Most people understand that they need auto insurance. In fact, it's the law, if you drive a car, it has to be insured and the penalty for driving without insurance is pretty severe. However, insurance policy wordings are not easy for everyone to understand. And what you don't know about auto insurance can hurt you. Here's some clarification of a few things that are commonly misunderstood about auto insurance.

* Personal property in your vehicle is not covered on an auto insurance policy. Auto insurance policies provide coverage for automobiles. For instance, items like compact discs, laptop computers and cell phones are not covered on an auto insurance policy. Items like these can be covered on a property insurance policy. What this means is that if the contents of your car, like the items listed above, are damaged in an accident or lost by fire or theft while in your car, you'll need to file a claim for your contents on your property insurance policy.

* If you loan your car, you've also loaned your insurance. If your friend is involved in an accident while driving a car borrowed from you, there's good news and bad news. The good news is, your insurance company will most likely cover the accident (except in extenuating circumstances like if the driver isn't licensed, or was impaired at the time of the accident, then coverage can be denied or limited). The bad news is, your insurance company treats the accident as if you were driving your car. This means that the accident your friend had while driving your car, is on your insurance record. It's as if you were driving the car yourself. Best advice, don't loan your car out.

* When you change insurance companies, you MUST officially cancel your old policy. With most insurance companies, you can request the cancellation of your policy at any time by notifying them in writing stating the date you wish your policy to be cancelled. So many people misunderstand this and presume that if they decide not to renew a policy, all they have to do is ignore the bill. DON'T DO THIS! Unfortunately, the insurance companies most times will send you another bill and then when the premium isn't paid, they will register a cancellation due to non-payment of premiums on your insurance record. Having a non-payment cancellation on your insurance record is serious stuff and getting this straightened out after the fact can be a real hassle. What you'll want to do when you change insurance companies, is request cancellation of your old policy in writing. Make sure you watch the dates (the date you're canceling one policy and starting another policy) so that you have continuous coverage while making the change between insurance companies. You don't want to be without auto insurance for a day or so while you make arrangements for new insurance.

The best advice on any of these things if you're not sure is to contact your broker and ask for their advice. Doing this will ensure that you have the coverage you need when you need it the most and it could save you a head ache or two down the road.



About the author:

Liane Wood is a chartered insurance professional and registered insurance broker specializing in personal and small business insurance. Visit her website at: www.insurance-rates.ca.

Written by: Liane Wood CIP



Auto Entry Tools
Auto entry tools and lockout tools are widely available through a...Read more on Automobile

The Top 8 Ways to Save a Ton of Money on Your Auto Insurance
We all hate doing it, but it's something that we all must do at one...Read more on Automobile

Auto Parts Fast Features High Quality Parts to Improve Your Honda s Fuel Mileage
We can't deny it; we all need cars for us to live life normally everyday....Read more on Automobile

Used Auto Warranty Warning Beware Dealer Issued Extended Auto Warranty Coverage
Buying a used car? You need an extended auto warranty to protect you...Read more on Automobile

Auto Accident Insurance Claim Personal Injury Insights
There’s nothing that has a greater impact on evaluating a ...Read more on Automobile

How to Get Cheap Auto Insurance via Internet
Most states make it mandatory for you to have car insurance. The minimum...Read more on Automobile

9 Japanese Automakers
Japanese built and designed cars have flooded the North American market...Read more on Automobile

Purchasing Cheap Auto Insurance For Your Teen Son
Your son has just obtained his license and with that a new found sense...Read more on Automobile

Copyright 2006 HouseholdWealth.com/ Automobile