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How do Insurance companies define a high-risk driver and/or car? Considering drivers to be high risk means that based on their claims history, they are more likely to have a chargeable accident or a moving violation than a clean, good driver. The insurance company will rate these drivers accordingly for this exposure. This will typically mean a higher premium.
What can I do if either me or my car are considered High Risk? Often these smaller companies which cater for High-Risk drivers have significantly lower rates than the traditional insurance companies.
Figuring out the Excluded Driver segment in my policy- Whichever driver that is excluded from coverage will not be insured with your household’s insurance company. They will have to seek high risk insurance elsewhere.
Everyone has predetermined and style and structure about the car which they intend to purchase. Its safety futures, color, luxury factors and technical efficiencies are some of the factors which a person looks while selecting the car. But they never plan in advance their car insurance type and satisfies with the one provided by the company. This actually cost you a lot and provide inadequate coverage when something happen negatively. This is not the right way to get your car insurance. There are several companies providing car insurance quote.
In the second quarter of 2009, the average no-fault payment for the medical care of accident victims in the state of New York rose by 56 percent to $8,748 per claim. Compared with the last quarter of 2004, this is a substantial increase. At that time the average no-fault payment stood at $5,615 per claim. This is based on information collected by the Insurance Information Institute (I.I.I.).
Your claim on your car insurance has been denied. If, after reading the insurance company?s reasons and reviewing your car insurance policy, you still believe coverage has been wrongfully denied, there are some steps you may take to try to remedy the situation. You have certain rights under your policy and under state law. Your insurance company has a duty to fairly and promptly settle your claim in good faith.
Steps you can take if coverage has been wrongfully denied:
The car insurance company may decide your car is totaled. In insurance lingo, "totaled" means the car's market value, after the deductible, is less than the restoration costs. In other words, it would theoretically have cost less to buy the exact same car of the same age than to repair your car. The insurance will just pay you the value of the car rather than pay for repairs.
If your car was in exceptional condition prior to the accident, provide whatever documentation you can to support that fact. Otherwise, the totaled car will be valued as if it were only in average condition.