All about to know Motor vehicle insurance

Is motor insurance voluntary deductible a good thing? A voluntary deductible is an amount of money that you choose to pay out of pocket in the event of a motor insurance claim. This amount is in addition to the mandatory deductible that is required by your insurance policy. Whether a voluntary deductible is a good thing or not depends on your individual circumstances and priorities. Here are some things to consider when deciding whether a voluntary deductible is right for you: Premium cost : A higher voluntary deductible can lower your car insurance premium, so if you're looking for ways to save on your insurance costs, this may be a good option. Risk tolerance : If you're willing to take on more financial risk in the event of a claim, a higher voluntary deductible may make sense. On the other hand, if you prefer to have more protection in case of an accident, a lower voluntary deductible may be a better choice. Claim frequency : If you're a safe driver and don't antici

What is not covered under my motor insurance policy? There are a few things that are typically not covered under a standard car insurance policy. These include: Normal wear and tear : Damage that occurs due to normal use of the vehicle is generally not covered by insurance. Maintenance and repairs : Regular maintenance and repairs, such as oil changes and tire rotations, are also not typically covered. Damage caused by intentional actions : If you intentionally damage your own vehicle, or allow someone else to do so, the resulting damage will not be covered by insurance. Damage caused by criminal acts : If your vehicle is damaged as a result of a criminal act, such as vandalism or theft, it will not be covered by insurance. Damage caused by racing or off-road use : Most car insurance policies do not cover damage that occurs while the vehicle is being used for racing or off-road activities. Damage to equipment or accessories : Damage to equipment or accessories, such as custom wheels or

What am I expecting from my motor insurance policy? A motor insurance policy is a financial product that provides protection for you and your vehicle in the event of an accident, theft, or other covered loss. Depending on the type of policy you have, your motor insurance may provide coverage for: Liability : Liability coverage helps to protect you financially if you are found to be at fault in an accident that causes injury or property damage to another person. It can cover the costs of medical bills, legal fees, and other damages. Collision : Collision coverage helps to pay for damages to your vehicle if you are involved in an accident, regardless of who is at fault. This can help to repair or replace your vehicle if it is damaged in an accident. Comprehensive : Comprehensive coverage helps to pay for damages to your vehicle from non-collision events, such as theft, vandalism, or natural disasters. Medical expenses : Some motor insurance policies may also provide coverage for medical

Which motor insurance add-ons do I need? There are several motor insurance add-ons that you may want to consider, depending on your needs and circumstances. Some common add-ons include: Roadside assistance : This provides coverage for towing and other services if your car breaks down or gets stuck on the road. Rental car coverage : This covers the cost of a rental car if your car is damaged in an accident or stolen. Gap insurance : This covers the difference between the value of your car and the amount you owe on your car loan if your car is totaled in an accident. Personal injury protection (PIP) or medical payments coverage : This covers medical expenses and lost wages for you and your passengers if you are injured in an accident, regardless of who was at fault. Uninsured/underinsured motorist coverage : This covers your medical expenses and lost wages if you are hit by a driver who does not have insurance or does not have enough insurance to cover your damages. It's important to

Do I need to buy motor insurance every year? Yes, in most cases, you will need to renew your motor insurance policy on an annual basis. Motor insurance policies typically have a term of one year, after which you will need to renew your coverage in order to continue being insured. Some insurance companies may offer the option to purchase a policy for a longer term, such as two or three years, but most policies are renewed on an annual basis. It's important to maintain continuous motor insurance coverage, as driving without insurance can have serious consequences. In many states, driving without insurance is illegal, and you may face fines and other penalties if you are caught driving without coverage. In addition, if you are involved in an accident without insurance, you may be personally responsible for paying for any damages or injuries you cause, which can be financially devastating.

Why motor insurance premium is higher than health insurance premium? There are a few reasons why motor insurance premiums may be higher than health insurance premiums: Risk : Motor insurance companies have to consider the risk of paying out claims for damages or injuries resulting from car accidents. This risk can be higher than the risk of paying out claims for medical treatment, which is what health insurance companies have to consider. Cost of repairs or medical treatment : The cost of repairing or replacing a car or covering medical bills can be very high, which can drive up the price of car and health insurance premiums. Frequency of use : People typically use their cars more frequently than they visit the doctor, which can also contribute to higher car insurance premiums. Government regulations : The regulation of motor insurance and health insurance can also impact the cost of premiums. In some cases, car insurance may be subject to more stringent regulations, which can drive up