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Thing To Know About Bad-faith Insurance

We all buy insurance policies to ease our lives when unexpected circumstances come our way. However, not everyone gets lucky when purchasing an insurance policy. Many encountered what we refer to as bad faith insurance. Here we will explain what bad-faith insurance is. Understanding Bad-Faith Insurance? Bad faith is a deliberate act when an insurer does not meet its legal obligations. It happens when an insurance company intentionally misleads people into entering into an agreement without the intention of fulfilling it. Below, we will go through some bad-faith tactics, so it will be easier for you to recognize them. Delaying decisions on claims Denying claims without investigation Not investigating claims in a timely matter Offering less compensation than a claim is worth Refusing reasonable requests for documentation Failure to communicate on time with the claimant Not notifying the claimant of the necessary information Misrepresentations of facts to offer a lower settlement Altering an application without the knowledge of the claimant. If an insurance company tries to do any of these bad faith practices, the law permits you to file a lawsuit. How To Fight A Bad Faith Insurance Fighting bad faith insurance requires more than knowing how to file a […]

Does My Car Insurance Premium Reduce When My Car Is Paid Off?

While some people get a car loan to help finance their purchase, others buy a new vehicle outright. However, some ask if they will see a decrease in their insurance policy now that the car is paid off. No. Paying off your car loan won’t reduce your insurance premium, but it gives you more control over the amount, type of coverage, and deductible you select, which can help you save money. Things To Do After Paying Your Car Loan While your premiums might not drop immediately after your car is paid off, you must take care of a few things. Get the title to your vehicle: This will be sent to you after paying off your loan. Remove the lienholder: Contact your insurer to clear the lien on your vehicle once you have the title. This is important because your insurance company will send payments to the lienholder if there’s a lien on your car. Review your coverage: This is the best time to modify and switch your car insurance coverage. You can also check your credit score. Most providers use your credit score to determine your insurance premiums, and paying off your car loan can improve your score. If […]

Comprehensive Insurance Vs. Collision Insurance

Comprehensive and collision insurance can cover the cost of replacing or repairing your vehicle if it’s damaged. However, each coverage protects against different damage. So, what is the difference between comprehensive insurance vs. collision coverage, and how do you know which is best for you? What Is The Difference Between Comprehensive Vs. Collision? Comprehensive vs. collision insurance will cover damage from different circumstances, and it may not make sense to pay for coverage you probably won’t need. Comprehensive insurance covers the cost of repairs for vehicle damage incurred off the road, while collision covers various vehicle damage incurred while driving. What does comprehensive insurance cover? Natural disasters damages Vandalism or theft Damage resulting from an animal collision What does collision insurance cover? Damage due to poor road conditions Damage due to a collision Damage due to a collision with a stationary object Which Is Right For You? Comprehensive vs. collision coverage can come bundled or separate when choosing auto insurance. Ask yourself the following questions to determine which coverage will benefit you most: What daily driving conditions do you deal with? Is your car new, or does it hold a high value? What is your current financial situation? What are […]

Can I Get Car Insurance Without A Driver’s License?

Are you considering getting car insurance but don’t have a driver’s license? You’re not alone. While some insurance companies may be skeptical of insuring customers without a license, it is possible, but the process is a bit complex and more expensive. Why Getting Car Insurance Without A Driver’s License There are circumstances where you might need car insurance without a license, which includes; You own a vintage car. You are insuring a driver under 18 You are a new driver and need proof of insurance to get a driver’s license. You cannot drive yourself but need to insure a driver for your car. How To Buy Car Insurance Without A License? While most insurers will be uncomfortable providing coverage for those with no license, there is no regulation against it. Some insurance companies will let you get car insurance without a license if you can list someone else as your policy’s primary driver and exclude yourself. The individual you list as the primary driver will be the one that will be driving the car most time. For example, if you have a health challenge that prevents you from driving, it could be a caregiver who helps you run errands or […]

Can You Buy Car Insurance With A Suspended Driver’s License?

Having your license revoked or suspended can be challenging. If your driver’s license has been suspended or revoked, you can get auto insurance coverage, but your state Department of Motor Vehicles (DMV) may require you to get an SR-22. Getting SR-22 insurance allows you to keep up with your legal requirements. What Exactly Is SR-22 Insurance? SR-22 is a document that the insurance company signs to help you reinstate your driving privileges if your driver’s license has been suspended. Your insurance company sends this form directly to the state’s DMV, informing them that you’re still insured. This policy lasts 3 to 5 years and will cover you until you get your driver’s license back. The insurance company will levy you for providing an SR-22 certificate. However, the fee amount may differ, and the state may charge additional fees. Therefore, your auto insurance premiums will increase if you file a claim for SR-22 insurance. Reasons SR-22 Is Required The reasons to get SR-22 to include the following: License suspension or revocation Multiple traffic offenses DWIs, DUIs, or other driving violations Your state Department of Motor Vehicles will inform you if you are required to get an SR-22. How Do You Get […]

At What Age Do Car Insurance Premium Decreases?

When getting car insurance, your age is a crucial factor insurance companies use to evaluate their premium decisions. However, your car type, driving record, and marital status also heavily impact car insurance costs. In addition, statistics show that certain age groups are more prone to violations or accidents. Here’s how your age influences the price of your auto insurance. How Age Affects Your Rates Your car insurance premium will be high between the ages of 16 and 20 but will decline steadily every year since you keep a clean driving record. If you are young, expect a significant reduction in your car insurance premiums around the age of 20. You will also usually receive another decrease around at age 25 and another significant decrease at age 35. Some slight adjustments every decade until you reach 60. Drivers Over 65 Things start to turn around once you reach your 60s and approach 65; car insurance premiums increase from that point. This is not because older drivers are dangerous but because their driving is affected by bodily changes that come with age. For example, it’s usual for senior drivers to have blurry vision at night. They may also be suffering from ailments […]

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