Overview of a Liability Car Insurance

If you own a car, then it would be best for you to have an insurance. You must not only get one just because it is required in your country and that you just want to obey the law. You should not always think like that. You have to do things because you know that it is right. You are availing an insurance because it is for your own protection and financial security. Remember that when something happens on the road, the law or the authority cannot always give you a financial support.

Even before buying a car for your daily use, you should have thought already about your car insurance coverage. If you met an accident and the road regardless of whose fault it is, things may happen. You may get an injury and your car may get damaged. What if you can’t go to work because of this? Who will pay for the damages done and who will help you with your hospital bills? You can’t even go to work, so how about your earnings?

It could have been better, if every car owner will go to an insurance company and ask for insurance coverage like the Liability Car Insurance. This is a type of car insurance or coverage, where the other party is paid, especially when they are hurt during the accident. This will also pay for the damages on the other party’s property. This insurance is applies when the one insured is at-fault.

Coverage of the Liability Insurance

  • Bodily Injury Liability

If the other party received bodily injuries because of the accident, your insurance company will pay for it. This includes the medical expenses as well as lost wages. And then, if the other party sue you in court, it will pay for your defense lawyer as well as your charges.

  • Property Damage Liability

The insurance company will pay for the damages done to the other party’s property. This includes the vehicle, building or any property receiving damages.

Coverage Limits

  • On the Property

Before availing this type of insurance, you are going to set a limit that the company will pay in repairing the damages that you have caused to the property or properties of another party. The company will not exceed paying the limit that you have set. So, the other party may require you to pay the rest out of your own pocket.

  • Bodily Injury

There is a maximum payout per person who have received the injury. The insurance company will also allow you to set a maximum payout for every accident. This is very important because it would be very helpful to the people, who are suffering from the accident, especially for their medical expenses.

Not Covered by this Insurance

This does not cover paying damages to your own property or if you have received any injuries. SO, it would be best if you are also going to avail an insurance with collision coverage for the damages on your own property. And then, it would be best to also add a coverage for your own medical payments.

 

Everything about Own Damage Car Insurance

Car owners are availing different car insurances from different Car Insurance companies. But, do you understand the coverage of your car insurance? Were you informed about how you are going to apply for it, especially, if you need to claim for your benefit? Anyway, for you to be aware about this, the Car Insurance Company needs to explain the policy to you as a potential client.

If a Car Insurance Agent cannot even explain to you any of your benefit as well as the coverage of the insurance that you are about to avail, then there is something wrong with that company. It may be a form of scam, which is actually widespread anywhere in the world today. You should not let yourself be a victim of those scammers, so you must be meticulous when someone comes and ask you to avail an insurance for your car.

Own Damage Car Insurance

Anyway, one coverage that car insurance companies offer is the Own Damage Car Insurance. This will cover damages on your own car while you are driving on the road. This is also known as the Collision Insurance or Own Damage and Theft insurance. It actually covers two areas. One includes the damages to your own car when you met an accident only. The other one is the insurance against theft.

You have to keep in mind that this kind of insurance does not cover damages to your car, which are caused by natural disasters. And ten, if you lost things inside the car, then that is also not included in the coverage of the Own Damage Car Insurance.

Requirements in making a Claim

When filing for your claim, you have to comply the requirements needed. In such a way, your application will not be denied. After sending your application, an officer will be in-charged in inspecting the damages of your car, so that they can calculate the actual cost of the damages.

  • A copy of the Own Damage Car Insurance Policy
  • The Official Receipt of your premium payment.
  • The police report.
  • A copy of your driver’s license as well as your receipt.
  • A photocopy of the third party’s driver’s license and the receipt.
  • Registration certificate of the vehicle and official receipt.
  • Taken photo of the damaged part of the car and its license plate.
  • Picture of the entire car together with the license plate.
  • Affidavit coming from the Car Insurance Company that must be notarize.
  • The estimate Cost of Repair.
  • The certificate of No Claim, coming from the insurer of the other party.

When you met an accident, you have to make sure that a report will be given as soon as the police officers are done with their investigation. You then, need to contact your insurance company. When an agent will ask you to sign a policy, stating that you are liable for anything that will happen to your car, you must never sign that. A reliable and trusted company will never ask you to sign such statements, except for some sort of scams.

Tips on claiming your Car Insurance

We all know that surprises happen on the road and one of which we do not really want to happen to us is a car accident. It could have been better, if there would only be a few damages to the vehicles. But, the sad thing is that a driver as well as a passenger’s life is also at risk. Lucky are those who are safe while the unfortunate ones need help and prayers.

This is the primary reason why an insurance exists. Can you see now how an insurance can help you as a driver or as a passenger as well as with your vehicle? If you are going to avail an insurance, it is very true that you will be paying for it. But, when something unexpected happens, no matter how careful you are when it comes to driving, your insurance cover you and you may claim for your benefit. That’s how insurance works. It is for your own benefit, anyway.

Anyway, when do you think can you claim for your insurance benefits? This is something that you have to fully understand before dealing or signing an agreement with the insurance company. Most of these companies cover accidents as well as party damages and theft. But, do not expect the car insurance company to pay exactly the amount you spent for your damaged or stolen cars. You know that as time flies, the value of your car also tears down.

Filing for your claim

When you need to file claims for your insurance, you will actually undergo some steps or processes. You cannot always get it directly or in an instant. Sometimes, you really need to wait. Anyway, once you already filed for it, the insurance company will be working on it. It is either you will get your car fixed through their sister company and they may also pay all the expenses for that.

Now, when it comes to the incident, you need to be very honest. Do not ever use false documents because that would be a reason to reject your claim. You just need to present all the necessary documents they need as well as a proof of the incident. If you jazzed up anything in your car, make sure that you will keep your official receipt.

The car insurance companies have policies about when you must report an incident. Most of them requires their clients to file or report a particular incident or an accident within 48 hours or 78 hours. Failure to follow this policy will lead you to the rejection of your claims.

If you have just bought a brand new car or a second hand car, then you have to make sure that the copy of the policy is in your name to make the policy valid.

And then, if you have installed a CNG/LPG kit, you have to make sure that you are going to declare it. Failure to do so will make the insurance company reject your claims in the future.

Benefits of Availing a Car Insurance

Billions of people in the world has his own car. Of course, he uses it every day as his means of transportation may be because he doesn’t like waiting for public transportations, where most of the time is really crowded. In such situations, you may even need to stand. It could have been better if the bus is convenient with good air conditioning system as well as ventilation. But, sometimes those features malfunctions. So, you cannot do anything, but to wait till you reach your destination.

For those people, who owns a car, do you have an insurance for it? Let’s say that you have a personal health or life insurance, but does it cover any of your property or belongings like your car? A car insurance is different from your health or life insurance because that only applies to you as an individual. When it comes to a car insurance that is only intended for your car. If something happens to your car, then your car insurance speaks.

It could have been better, if every car owner will have his car insurance because of the benefits that you can claim when accidents or any other incidents show up. We cannot always tell what lies in the future. So, if you want to secure and protect your car, too, then it would be ideal to apply for a car insurance.

Replacement Fees

Do you know that there are Car Insurance Companies, who are offering a replacement fee services? Let’s say that you lost your car because someone stolen it. It would be very impossible if you will suddenly forgot about where you parked your car or you misplaced it. There are always hidden cameras around the parking areas as well as cars moving in or out of a compound or building.

Anyway, you will be very lucky if you have a car insurance and that you can get a replacement fee. Anyway, car insurance companies will not give you a brand new car because the value of your car depreciates as time passes by. So, the car insurance company needs to get the value and they are going to pay that.

Pay or Repair Damages

We cannot always say that our cars will never get damages because we care for it. Sometimes, unavoidable circumstances may occur and we cannot do anything, when our car get damages. Now, if you have a car insurance, then the company will pay or repair the damages. It does not matter what or who damaged the car and where it happened. As long as you are insured, they will cover the expenses. Sometimes, accidents happen on the road, it could also be due to strong rains or flood. Even it is because of those natural elements, the car insurance company will still pay you.

So, will you go for a car insurance now? Anyway, before you agree with the insurance company. You have to make sure that you have fully understood their policies, especially when claiming the benefits to avoid inconveniences.