Monday, January 28, 2008

Discount Auto Insurance

1.Discount Auto Insurance

Get familiar with discount auto insurance. Clear up different types of discounts offered be the auto insurance companies.

Discount Auto Insurance refers to the Discounts offered by the Auto Insurance Companies in order to acquire a wider customer base. This Discount Auto Insurance comes in different types of Discounts which are nothing but a part of the Insurance companies’ policy to win over the customers.

Different Types of Discounts offered by the Auto Insurance Companies are the following:

• Multiple Car Discounts
If a person owns more than one car and is ready to get all his cars insured by a same Auto Insurance Company then the Insurance Company can happily offer him great Discounts. This is because through the Insurance Policies for the multiple cars the Auto Insurance Company is getting more business and earning more money.
The reason behind these Discount Offers can also be the point of view that if a person holds multiple cars then the extent of using each car becomes quite low leading to reduced chances of Insurance Claims for each car.

• Multiple Policy Discounts
If a person buys more than one Insurance Policy from an Insurance Provider, then he has the chance to obtain good Discounts. So, by making Home Insurance, Life Insurance, Health Insurance and Auto Insurance by the same Insurance Company one can avail some Special Discounts because of giving the Company a lot of business.

• New Vehicle Discounts
Some Auto Insurance Companies offer Auto Insurance Policies at a Discounted Rate for the new cars. This is because, as a new car carries Warranty, new Safety Features, they are assumed to carry lesser risk compared to the old vehicles.

• “Good Driving” Discounts
If a policyholder possesses a Driving Record which contains not a single instance of Car Accident then, the Auto Insurance Companies may offer “Good Driving” Discounts.

• Safety Device Discounts
If the car which is to be insured is equipped with car alarms, safety locks, anti-lock brakes and other safety devices then the Auto Insurance Company may offer some Discounts because of the lower risk potential of the car.

2.Do You Know?

Get to know the things you should remember dealing with auto insurance companies and policies.

Do You Know?
Look through the things you should remember dealing with auto insurance companies and policies.

1. If your car in the rear in an accident it doesn't mean automatically your fault.

2. The best resource to determine liability is independent witnesses.

3. If after the accident necessity in renting car arises, check with the liable driver's insurance to determine the amount of rental car coverage.

4. If your vehicle is absolutely ruined in the accident, your auto insurance policy will not cover the cost of renting a comparable vehicle unless you purchase a policy with that specific coverage.

5. The US insurance policy provides coverage anywhere in the United States, US possessions, or Canada. Mexico isn't covered but some companies sell endorsements to your policy to cover your car in Mexico.

6. There is no “grace period” for continuing your policy beyond the premium due date.

7. If you can't send your premium by mail on time, deliver it to your agent’s office personally and don't forget a receipt. The date your agent is paid is considered to be the date the insurer is paid.

8. Your agent is not required to call you to remind you that your premium is due.

9. An insurance company has 30 business days for accepting, denying, or giving a reason why it cannot accept a claim.

10. An insurance company can cancel your policy for any reason within the first 59 days (except three cases). The exceptions include your employment status, status as a renter, and your not previous having had a policy (unless you were legally required to have one). In any case a company must give you the reason of canceling your policy.