Car Insurance is a type of assurance coverage given to the car owner at the time of insuring the vehicle. A set premium is deposited annually to the insurance company by the owner of the car. Insurance amount is revoked only when the particular car has faced some accident in a minor or a major way. The insurance company calculates the cost of repair of the car and checks the insurance cover. The insurance cover defines the type of guarantee that the Company is bound to give if any accident occurs. The vehicle is sent for repair and the assessment report is attained by the concerned repair agency. The insurance company makes it clear to the car owner that the estimate of the car repair will b e borne by the Insurance Company. Any amount exceeding the estimate will be borne by the car owner himself.
Car Insurance Premium
It is important to know that how much car insurance goes up after an accident. Insurance Companies thrive upon relationship management. The final bill of the repairs needs to be submitted to the Insurance Company for remittance. The full insurance coverage of the car enables the owner to claim for the full amount of repairs from the insurance company. If the car owner is at fault for which the car met with the accident then the premium rate tends to go high. Here the Attorney helps the car owner for settling the issue with the Insurance Company.
The car owner is at risk if the claims are repeatedly pouring in from the consumer’s side. The premium rate gets slightly increased if the valuation report states that the accident had occurred due to the driver or the owner of the car. Insurance Companies maintain rapport with their customers by adjusting the premium amount with the condition of the car. Insurance premium amount tends to increase when the car is accident prone or the driver of the car has a background with high risking capacities.