Did you know that there are a lot of road accidents happening everyday? A lot of people incur damage to their personal cars and those of other road users regularly. In severe cases, even pedestrians may get hurt.
These expenses increase exponentially depending on the number of parties affected, and it can be difficult or even downright impossible for an individual to foot the bills alone. That is why car insurance is important for any car owner. It acts as a buffer for many of the risks that come with driving on the road.
How Does Car Insurance work?
Driving with car insurance is equivalent to possessing the financial ability to handle the inherent risks of being a car owner.
When you acquire car insurance, it protects you from:
- Costs associated with damage to your vehicle or theft.
- Expenses incurred from causing damage to the car of other road users, injuring pedestrians, or even paying for their funeral rites in the case of death.
- The legal responsibility involved in causing damage to other road user's vehicles or causing injury to a pedestrian.
You should note that not all risks are covered by car insurance. Damages that do not come from accidents, such as those that occur as a result of the natural age of the vehicle, from wear and tear are exempted. Depending on the terms of the policy, it may or may not cover damages caused by the elements such as a typhoon or a tornado.
Classic Car Insurance
A Classic Car Insurance is an insurance policy that is geared towards the protection of a classic car. Also known as collector cars, classic cars are often more than 15 years old and are generally kept as a prized possession in the owner's home rather than being driven around. This insurance covers the cost of repairing the car or restoring it when it has been damaged. A classic car's repair and maintenance fees cost way more than that of a regular car. Hence, financial assistance from insurance companies will be very beneficial.
Important Points to Note about Classic Car Insurance
Before you rush to insure that classic car of yours, there are some points to bear in mind concerning classic car insurance.
Classic cars are generally secondary vehicles. You can't drive your classic car around as your primary means of transportation. Otherwise, the insurance company would consider the policy as regular auto insurance.
A classic car insurance premium is less than that of a regular car. This is because it generally spends only a little time on the road.
Classic car insurance
imposes some limitations on the usage of the car. If you apply for one, your insurance company might give you some rules about where to park the car, the maximum mileage it can incur in a month, etc.
Car Insurance Calculator
A car insurance calculator is just like an insurance quote. It is an online tool that is offered by many insurance companies to help prospective customers know what their premiums might be before they apply. The premium gotten from a car insurance calculator is dependent on the type of car that is being insured, the coverage of the insurance, and a host of other factors.
We have got a list of car insurance companies detailing the coverage of their services, the premiums they require from you, and even the excesses that they offer. In addition to this, you'll find honest car insurance reviews from other individuals that have patronized the services of those insurance companies.