Is Comprehensive Liability Insurance Necessary?
Most of us would be in a large amount of financial trouble if we did not have insurance. Think about it; if you get in an accident, what happens? Those who have insurance make the call to their insurance company to make a claim; those who don?t have a rude awakening coming to them. Face it; having insurance is an everyday occurrence. Without it we would go crazy worrying about accidents that might happen in every aspect of our lives.
We have all used or will use our insurance at some point in our lives. Most of the time we do not need the insurance and we complain about the premium that goes along with it. It isn?t until you actually make a claim that you were glad you had it. Other than that, we find it useless and just another bill; but we still keep it around.
The most basic form of car insurance is Liability Insurance. This insurance covers all the basics when you get into an accident, big or small. When an accident occurs, someone will pull away from it being liable, or the cause of the accident. All structural, mental and physical damages are the responsibility of this person. When it all adds up, this is a very expensive and sticky situation to be in.
You may have heard Liability Insurance called Third Party Cover. This is simply another name for it. Whichever you decide to call it, you could end up bankrupt if you do not have it as coverage on your insurance policy. The victim will take their claims to the court, win and liquidate all your assets leaving you nothing. Moreover, there will be more court costs associated with it as well. These situations have been known to last years on end and drain even the strongest person.
Taking out insurance is just that; it insures you will be OK. It gives you that upper hand when life throws you a lemon. In other words, if you get into an accident, you will not be the one going up to bat. This is what you insurance premiums you constantly play are for. Your insurance company will take care of all the payments and legal matters that go along with a vehicular incident. The only part you will personally be responsible for is the excess. When you get in the accident, you will have to pay the amount you and your insurance policy writer agreed on when you sign the insurance policy contract. The excess is usually anywhere from 250-1,000. Once this is paid, the insurance will make all necessary payments to clear it from the books.
Getting the right insurance is very important. The one to start with is of course liability insurance. There are many other types of insurance available for specific situations so be sure to check with your insurance representative for more information on what would be the best for your particular situation. - 2368
We have all used or will use our insurance at some point in our lives. Most of the time we do not need the insurance and we complain about the premium that goes along with it. It isn?t until you actually make a claim that you were glad you had it. Other than that, we find it useless and just another bill; but we still keep it around.
The most basic form of car insurance is Liability Insurance. This insurance covers all the basics when you get into an accident, big or small. When an accident occurs, someone will pull away from it being liable, or the cause of the accident. All structural, mental and physical damages are the responsibility of this person. When it all adds up, this is a very expensive and sticky situation to be in.
You may have heard Liability Insurance called Third Party Cover. This is simply another name for it. Whichever you decide to call it, you could end up bankrupt if you do not have it as coverage on your insurance policy. The victim will take their claims to the court, win and liquidate all your assets leaving you nothing. Moreover, there will be more court costs associated with it as well. These situations have been known to last years on end and drain even the strongest person.
Taking out insurance is just that; it insures you will be OK. It gives you that upper hand when life throws you a lemon. In other words, if you get into an accident, you will not be the one going up to bat. This is what you insurance premiums you constantly play are for. Your insurance company will take care of all the payments and legal matters that go along with a vehicular incident. The only part you will personally be responsible for is the excess. When you get in the accident, you will have to pay the amount you and your insurance policy writer agreed on when you sign the insurance policy contract. The excess is usually anywhere from 250-1,000. Once this is paid, the insurance will make all necessary payments to clear it from the books.
Getting the right insurance is very important. The one to start with is of course liability insurance. There are many other types of insurance available for specific situations so be sure to check with your insurance representative for more information on what would be the best for your particular situation. - 2368
About the Author:
Graham McKenzie is the content syndication coordinator for Carinsurancesa.co.za. South Arica?s leading car and vechile portal, which helps people save on their car and vechile.
posted by Frank Potter at 12:40 AM
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