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Procedures to switch the car insurance policy

July 7, 2014 in car insurance by admin

Car insurance companies provide flexibility to update and switch over the coverage policies to new companies before being the actual term ends. This gives an advantage to switch the insurance policies to new companies that offer comparatively the best deal. But, cancelling off the existing policy is subjected to some terms and conditions where you may not get the full refund of your money.  Plan a benefited move by taking account the following suggestions.


Right time to cancel off the old coverage 

It is best to always have multiple quotes from insurance companies before being stuck with the single one. On purchasing the particular company’s insurance, you can switch to other within 2 weeks of the registration i.e. before receiving the documentation. In those cases you will get the entire refund of your premiums. If you cancel it off after 2 months, you are entitled to no refund. Switching in renewal period is also the best idea to claim for entire refund of premiums.

How to end up the previous auto insurance

Planning to switch at the renewal time helps a lot that you can claim your entire premiums even without leaving the last premium amount. This is the efficient way to switch the policies. Through the appropriate writing inform the insurance company of your cancellation of policies specifying the actual date to close your accounts. If you are ending up in the mid-term of last premium date you may not receive the remaining premiums. Some insurance companies charge a penalty for in-between cancellation that is slightly higher than the cancellation fee.

Get an authenticated cancellation

It doesn’t get end up when you give a written statement of cancelling the coverage plans to the old company. It is mandatory to get an official policy cancellation notice from insurance company specified with the appropriate ending date and time of the policy. If your cancellation is not properly observed your policy will continue to get renewed every six months and a year in which the automatic termination will be endorsed as for failing to pay the premiums. So before moving to new company make sure you have properly ended all your previous accounts. Once processed, you are free to move with new companies in purchasing their insurance coverage.

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Some of the unrevealed facts in Car Insurance.

July 1, 2014 in car insurance by admin

Car insurance has turned out to be the common term in the modern life. As the individual’s life style elevates, the luxurious equipment also bind their way making it as the part and parcel of life. “Insurance” is an undeniable one that serves as the helping hand in crisis. Know some of the unrevealed facts in insuring the car. 

warrenty cars


Car warranty vs. Car insurance

If you buy a brand new car, it is obvious that you get a car warranty.  The year of warranty differs based on the manufacturer’s agenda but to the max it can cover up to 5 years. So, the car insurance package may seem optional to that period of time as the collision claim, damage claim will fall to the warranty. What will you do after the expiry of warranty? You are left with no other choices than to buy car insurance. Make sure you don’t leave any gap to make for your own insurance plans once immediate the expiry date. Car warranty cannot give you the full coverage policy as compared with the insurance, so it is better to insure your car earlier than waiting for the deadline.

Plan to get multiple insurance quotes 

Before buying an insurance package approach multiple companies in getting their quotes. This is the most efficient way to compare the coverage plans. Many companies do differ in the rates of policies and you have to decide on the one to which you are going to bind with. The two major factors that influence on the cost of insurance are the model and the type of vehicle, the driving records. It is general that insurance plan vary according to the type of vehicle and many are not aware that their driving history may also influence on the coverage plans. If your driving records are of the fair manner your insurance cost will be lower than the collision records.

Aware of fake insurance policy

Make sure you are taking up the legal car insurance policy. In a legal policy you will receive the documentation directly from the company within few days of purchasing your insurance. Check to the paperwork, is the wordings differ from the documentation, if so there may a chance you deal with the fake policy.  Check the license number and scan the QR code as they are the final attribute in finding out the fake policies.

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