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Costly Auto Insurance Blunders

Written by: Alston Balkcom

Article Overview: Failing to report an accident or crash promptly can be expensive. It is extremely important that you report an accident to your insurer ASAP. Your contract states that Failure to comply with this requirement and your other requirements after a claim or loss allows the company to deny your claim!

Costly Auto Insurance Blunders

Failing to report an accident or crash Promptly Crashes and Speeding

Being convicted of DWI

Buying a new or expensive auto for a teenager

Having a Low Deductible for Physical Damage Coverage

Driving without insurance

Failing to report an accident or crash promptly can be expensive. It is extremely important that you report an accident to your insurer ASAP. Your contract states that Failure to comply with this requirement and your other requirements after a claim or loss allows the company to deny your claim!

How much time do you have to report an auto insurance claim? The circumstances of the collision and the legal jurisdiction can also impact the answer to this question. However, if you report an incident within a day you should have no problems.

Although you can file an accident or crash long after 24 to 48 hours have transpired and potentially still be covered, it is not advisable to do so. The longer you wait, the harder it will be to find witnesses and to find witnesses that remember what happened. The physical evidence of the collision may also be compromised if you wait too long to file your claim.

Having an accident or getting points on your license is a great method for raising your premiums. Your vehicle insurance carrier wants to insure safe drivers and will offer lower rates for those who cost them less money in claims and those who are likely to cost them less in claims.

Not only is an accident likely to increase your costs for insurance, it could dramatically reduce the quality of your life if you are hurt seriously. Be a safe driver, pay less and live longer.

A Driving Under The Influence conviction will have a big impact on your car insurance rate. How long can a DUI affect your insurance rates? As long as 10 years! Although the major impact on your rates will be over in 2 or 3 years, you may not qualify for the best rates for as long as 10 years.

How much does a new teenage driver raise vehicle insurance premiums? A lot, but the rates will be even higher if you get him or her expensive car that requires physical damage coverage. Sporty fast cars aren't such a good idea either.

If you have a teen driver, make sure that he or she takes an approved drivers education course. Most insurance companies will give you a good discount if your child passes such a course.

Physical damage coverage is also known as collision and comprehensive coverage. Collision and comprehensive insurance are optional if your automobile isn't financed or leased. These are the part of your coverage that pay you for damage to your automobile. Since the absence of these aspects of your policy don't affect payments to others you might get into a claim there are no state mandates regarding them.

If you own your car outright, you can decide to accept the risk that you will need to spend your own money to replace or repair your vehicle and avoid paying for physical damage coverage.

If you feel that you need some coverage, but want to cut your costs, you can raise your deductible. You can raise your deductible for either the collision section of your policy or the comprehensive section or for both sections. This can go a long way towards lowering your automobile insurance bills.

Getting caught driving without car insurance can mean that you are mandated to have your automobile insurance carrier file an SR-22 on your behalf. This can add to the cost of a policy.

Related Articles
  How To Purchase Cheaper Auto Insurance Coverage
  Why Is The First Auto Insurance Quote Not Always The Best Quote?
  The Car Insurance Comparison Kit
  Comparison Of Auto Insurance Quotes and Insurance Companies
  Auto Insurance: Considerations For Getting A Policy

Article Tags: 10 years, 3 years, auto insurance claim, car insurance rate, circumstances, contract states, conviction, crash, crashes, driving under the influence, driving without insurance, insurance carrier, insurance rates, insurer, legal jurisdiction, physical damage coverage, physical evidence, premiums, teenager, vehicle insurance
Referred by: http://www.searchengineworkshops.com



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