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Motor Insurance Reference

I'm not sure, but car insurance is a thought that still
upset me a bit. Of course, I pay my monthly insurance premiums, hoping for the
best and stress when I must make a claim, but apart from that I basically send
everything related to insurance in heart and soul and only hope for the best.

I believe that insurance policies, whether motor vehicle
insurance, home insurance, health insurance or life insurance, should be issued
with a detailed indication of all the terms and phrases associated with certain
types of insurance. For example, even ordinary people on the road (including
you and me!) Will better understand what our insurance plans are and how much
we pay.

Let's look at a few key phrases that are often used in the
field of auto insurance:

The driver is mentioned in comparison with the normal
driver. When you purchase a motorcycle insurance, you (the policyholder) will
probably become a normal driver of a motorized vehicle. This means that you
usually drive the car. However, this can also be done to add named drivers to
your policy. Suppose your spouse, child or other person will drive a car from
time to time, this must be considered by the insurance company and this person
must be included in your policy as a designated driver. If your vehicle has an
accident and the driver or driver whose name or ordinary driver cannot drive
the car, your insurance company can refuse your request. Remember that the
insurance company will check your full risk user profile before your monthly
premium is determined, so if your driver does not have a good insurance
history, this will negatively impact your insurance profile and therefore your
insurance premium.

New with old insurance policies. In insurance terms, this
means that if an item is lost or destroyed, it will be replaced with a
completely new item. This is usually more relevant for home insurance when you
may need to replace a stolen TV. Unfortunately motorcycle insurance works a
little differently. The costs of your car or truck are usually reduced as soon
as you drive your car from the showroom. Therefore, if your car is stolen when
you are about a year old, the insurance company usually calculates the current
market value of your car and only reimburses you for this amount. If you want
to insure your car for the replacement, you will receive a monthly premium,
which is almost unavailable, because the risk for the insurance company is too

The agreed costs. As indicated in the previous section,
motor vehicles are usually insured at market value. But it is also possible to
insure your car at retail or commercial value. Discuss the options with
insurance agents or brokers to determine the type of policy that best fits your
vehicle requirements.

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