Car Insurance Terms Beginning With a "B"

Thursday, February 21st, 2019 - Uncategorized
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Typically if we are not acquainted with a specific subject, it scares us, right? After all, how can you be sure that you are getting the most suitable products or services to meet your needs and requirements if you are not even know what you are looking for?

Getting car insurance quotes is not any different! Lots of people break into a cold sweat when having to pick-up the phone to get insurance quotes as they do not know what type of information would be needed from them or what all the terms and conditions in the legal agreements actually mean.

Why do not we take a look at one or two often used car insurance terms which you may come across:

When an insurance company or insurance carrier requests if you may wish to obtain blanket insurance, they are basically asking if you want more than one thing to be protected under one insurance policy. Say for example you are a company owner with a few stores in multiple locations – instead of needing to obtain an insurance policy for each and every store separately, you take out a type of umbrella insurance which will include all your stores. Blanket insurance for vehicles is also available – it is then termed Fleet Insurance. This sort of insurance is quite costly as it poses quite a big risk to insurance providers when compared to other stand alone policies.

To provide you with the very best car insurance quotes, insurance companies would need to know what the book value of your vehicle is. If you buy a car for R100 000, your invoice will always show R100 000. The truth is however that your car's value will devalue every year and after a couple of years your vehicle will not worth anything near what you bought it for! This depreciation rate is at its highest during the first couple of years after buying your car. To find out what your vehicle's book value is, you simply have to phone a car dealership – they will be able to give you an accurate figure. Remember that investing a lot of money on extras such as a fancy audio system or more costs tires will not increase the book worth of your vehicle.

Additionally, you will be asked if you would like to add break insurance as part of your car insurance policy. Breakdown insurance is available in the form of mechanical breakdown insurance coverage and roadside insurance insurance and the phrases are essentially self-explanatory. These kinds of cover is not generally included as part of a standard insurance plan and it is essential to bring it to your insurance provider's attention should you need this further cover. Should you have a brand new car, breakdown insurance might not be required as your service plan or routine maintenance plan generally takes care of this, but of course, there are exceptions to every rule!

Getting car insurance quotes is really as easy as A, B, C. I trust that the above info managed to shed some light on the matter. Never be associated to ask questions, be sure you realize exactly what your policy contains and excludes!

Source : http://ezinearticles.com/?Car-Insurance-Terms-Beginning-With-a-B&id=5950661

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