Terms in car insurance

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You might use car insurance, but did you know all the cars insurance Terms ? if you didnt know, you can read here. Act of God: Loss events caused by natural disasters. Comprehensive: Comprehensive car insurance means insurance ' all risks '.

That is, the insurance will pay claims for any kind of damage, ranging from light damage, heavily damaged, and lost. ERA (Emergency Road Assistance): Services are covered in an insurance policy to bring a mechanic to the place where motorists were stuck when the vehicle suffered damage.

Market price: the price of the vehicle sale proceeds when sold on the free market are obtained from the insured by brand, type, location, and the same purchase years before going on to the risk of loss or damage.

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Motor vehicles: all types, types, or the following vehicles brands of everything (equipment, auto parts, etc.) and will be owned at a later date and perjanjuan is the object of consumer finance. Grace period: a period of time after the due date of the premium where the premiums can still paid no interest and the policy can still be accounted for.

Waiting period: a period where after the policy is published which at this period of the insurance policy does not bear the costs of the insured's health up to a certain period in addition to the cost. Personal Accident: damages caused by motor vehicle accidents which cause death or permanent disability to the State of the driver or passengers.

Reimbursement or indemnity will be paid out according to the specifications of the vehicle specified in the insurance policy. Proposal: a collection of information provided by the insurance company of the benefits policy will be given to the prospective customer. This proposal is usually offered to give the product information to be provided such as the magnitude of the premium and terms of responsibility

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Policy: insurance policy is an agreement binding the parties and approved by the insurance company and the policy holder in writing. Premium: Money that should be dibayarakan at a certain period as a liability of the holder of the insurance policy.

The magnitude of the premium paid and the policy established by the consent of the parties to the insurance company in accordance with the condition of the insured. Insurer: a person who lawfully stipulated in the insurance policy to pay a premium over the policy. Own risk (Deductible): load value of the insured in each of the losses or damages are calculated based on the amount of punitive damages. SRCCTS (Strike Riot Civil Commotion Terrorism Sabotage &): losses caused by the events of the insurrection, riot, terrorism and sabotage)
nsured: the person who listed the legally stipulated in the insurance policy to receive the benefits of the policy. Total Loss Only: this will only provide Insurance guarantees for loss (the existence of the car against theft) or damage to the value of kerugia reached more than 75% of the price of the car as it has been mentioned in the policy. Sum assured: the purchase price of a vehicle when the beginning of the protection period and recorded in the insurance policy in question which is the maximum limit of liability of the insurer in the insurance agreement.