Pain in Switching Over Different Insurance Companies

Switch to the Best PolicyDue to many reasons you may wish to prorogate your car insurance policy. The reasons could be, you are not satisfied with the services given by the company you are bound with, if you are relocating to different state, sometimes you may be bugged with the car repairs and totally with car itself, so you no more require a car insurance. But it is better to intimate the insurance company in prior because later you may have to pay loads of money for the lapse. This will affect your credit score recordings also.

Before Switching

Written notice should be sent to the insurance company about the date of cancellation when the policy is active. Do not assume that you are safe by just canceling the insurance  not paying the next month’s bill. The next month’s payment will have to be paid in advance if prior notice is not given for the cancellation of the policy.
If you are planning to switch over to another insurance company, and planning to drive the car the entire process, make sure you do not miss to pay car insurance because lapse in the insurance will affect your premium. If your credit history is not good, insurance companies will list you in the risky zone. So make a note of the starting date of the new insurance policy and ending date of the old insurance policy. Therefore pay your premiums on time and be in the safe zone.

To cancel the policy, first call up your insurer and tell them that you want to cancel the policy. Give them the date when you want to cancel your policy. Insurer will give you cancellation form. Read and fill the  details properly before you sign. Also ensure by asking them whether they charge for canceling the policy in the middle  of the term. If you are fetching better benefits from other insurance company its better to switch .

Facts About Uninsured Motorist Coverage

Facts to KnowIn a perfect world, you wouldn’t need uninsured motorist coverage. But as everyone knows, the world we live in is far from perfect—and there are some people on the road that either don’t have insurance at all, or carry insufficient car insurance coverage to reimburse you for their poor judgment when your paths unfortunately collide. This is the reason why most insurance companies will strongly suggest that you get uninsured motorist coverage.

Is uninsured motorist coverage required in all states?
The majority of states don’t require you to have coverage that’ll protect you in the event you’re hit by someone without insurance, or without enough insurance to pay for the damages they’ve inflicted on you. But this doesn’t mean that it’s not a smart idea to have it.

Won’t my medical insurance cover me for medical bills?
The fast and easy answer is: yes. But by taking a closer look at what you might face, it isn’t exactly a great comfort. The bottom line is, if you have health insurance, are injured in a car accident, and you wind up racking up thousands of dollars (or more) in medical bills, you’ll be covered. However there are a couple of things it won’t pay for.

  • Lost wages. Unless you’re lucky enough to be employed by someone that offers an excellent short- or long-term disability package, you could be out of luck if your medical injuries leave you unable to work while you recover. If you’re self-employed, having uninsured motorist coverage could be the very thing that keeps you afloat.
  • Pain and suffering. Your health insurance only covers your medical bills. If you’re hit by someone that doesn’t have an insurance policy or doesn’t have adequate insurance, the only other way to get compensation for your pain and suffering is to sue them in court—and odds are you won’t have much luck there, especially if that person’s lack of insurance coverage is a result of their inability to pay for it. Having uninsured motorist coverage covers you for pain and suffering in this event.