Various Terms And Conditions Of Auto Insurance
- May 5, 2017
- Business and Management
- No Comments
Based on the high rate of accidents which occur each year, it is important that anyone driving a car either it is your car or a friend’s car must have an auto insurance policy even if it is the shortest of all insurance policies possible.
Insurance includes the policyholder and in maximum cases, it covers other people who use the car or the driver. You can browse http://eatoninsurance.com/ to know more about the benefits of auto insurance.
However if the vehicle gets into an accident which is not in the interest of the policyholder, or in violation of the settlement between the policyholder and the insurance company, the insurance plan will not cover the losses from such accident.
In instances where the registered vehicle gets sold to another person, the new buyer is covered by the third party liability insurance and also by the general car insurance policy, if there is any within a period of 2 weeks after the change of possession.
When there is a new active insurance policy, all deductibles beneath the insurance will be paid by the new car buyer.
Auto insurance does not cover loss to vehicles in company property for purpose of sale.
Depending on the car insurance policy contract between you and your insurance company, there might not be a necessary for you to inform them when the terms in the policy contract changed.
The result of the opposition to notify the insurance might be fine indemnity and damages if an accident occurs or loss of the indemnity and damages in the installment if indemnity and payment.You can also navigate to this site to know about the various terms and conditions of auto insurance.
Therefore to avoid the results stated above, whenever there is a change in the policy data notify your insurance company immediately.
You can purchase the same auto coverage from two different insurance companies without eliminating the initial insurance with the first company but when an event occurs, the agreement in your car insurance policy will be applied, and this may mean that both companies pay share is the cost of the accident each.