Many people carry auto insurance coverage seeing that it is required by many states. However, even though many individuals carry the policy, doesn't necessarily mean that they understand how to access the policy and know what they are doing in the case of an accident. Here are some things you need to know about a car accident and your auto insurance policy.
What Kind Of Information Should I Get If I Get In An Accident?
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Sometimes when you have damage on a car or your home, you need to use all the money your receive to repair the damage. At other times, you might prefer pocketing the money and leaving the hail or water damage alone. Before you try this maneuver, you need to find out if keeping the cash is an option for you.
Car Insurance
If you do not own your car outright, you can forget about taking the cash settlement and running with it.
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Although people tend to confuse insurance agents with brokers, the two are different. The difference isn't just academic; it can have a substantial impact on your car-insurance issues. Here are three major differences between agents and brokers and what the differences mean to you.
What They Do and Who They Represent
Both insurance agents and insurance brokers act as intermediaries between you and the insurance company. However, the agent's duties are mainly administrative.
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Although you can get car insurance coverage as a foreign driver in the U.S., your rates are likely to be higher than a comparable citizen or permanent resident. This isn't an arbitrary decision from insurers; there are valid reasons for it. Fortunately, there are also steps you can take to manage these rates.
Here are two reasons why foreign drivers tend to attract high rates:
Lack of Data on Driving History
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There is a misconception that comprehensive car insurance covers "everything." Unfortunately, there are some car-related losses that even comprehensive car insurance won't cover. It's good to know what these losses are so that you can buy appropriate coverage for them. Here are five examples of such losses:
Personal Belongings
Don't expect your insurer to come to your rescue if your personal belongings are stolen or damaged in your car. Car insurance covers things permanently attached to your cars, such as side mirrors and radios.
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