If your car has been in a wreck, one unpleasant fact which must be faced is that it is now worth less than the same model of car which has not been in an accident.
This decrease in value is known as “diminished value.” What is not commonly known is that your insurance company, or the insurance company of the person who caused your accident, can be made to pay you the difference in the diminished value of your car.
The trick to getting this payment is first, knowing about it, and secondly, requesting it.
Many insurance companies will deny such a claim at first, trying to keep customers from cashing in on this value. However, it is important that you get a check for your diminished value because when you sell your vehicle, you will probably receive less than market price.
In these days of “show me the Carfax,” a car which has been in an accident will not go long undetected.
Buyers are aware of this, and often seek out reports which show the history of the car which they are buying. It is almost certain that a car with an accident in its history will bring less in a sale than one which has not been wrecked.
Because of this, it is vital that you claim your diminished value immediately upon having a claim filed on your vehicle.
There are steps you can take to ensure that your company pays you the full diminished value claim, and does not try to put you off with unnecessary roadblocks.
You must realize that your diminished value claim will be filed and handled separately from your liability, collision, or comprehensive claim. You will be dealing with an adjustor separately from your original claim, although the same adjustor may handle both and some of the same paperwork may be involved.
There are three basic types of diminished value claims, although only one is commonly granted. You might have a diminished value claim if the repair work on your car was substandard, or if the adjustor wrote up an estimate which notes that, for example, aftermarket parts were used when factory parts should have been utilized.
Both of these types are uncommon and may require a bit of expert help. The third type, the inherent diminished value claim, is the most common and easiest to file.
You should notify your insurance company that you want to file a diminished value claim after your liability or collision claim has been handled.
The company will assign an adjustor to your claim who will contact you for information. You should have the following pieces of information ready to show to the adjustor:
1) You were not at fault in the accident. 2) The at-fault party was insured or you have uninsured motorist coverage if the at-fault party was uninsured. 3) Your vehicle is a newer model (less than 10 years old). 4) The damage totaled at least 10 percent of the value of the car, or $2,000 minimum. 5) The car was not “totaled,” in which case you would have been paid the value of the vehicle anyway.
If you can show these things to the adjustor, then insist that the claim be filed. If you continue to run into problems, you may have to resort to having a lawyer or professional review the case and write to the insurer to pursue the payment.
However, it is well worth it if you can get the money you will be losing due to the stigma of having a car which has been wrecked.
How to understand a vehicle insurance policy – it matters most!
A vehicle insurance policy is the document which clearly spells out all aspects of your insurance coverage. We will discuss this policy, what it contains and what it does.
A vehicle insurance policy is typically a fairly long document. It contains a great deal of information. Some of the information which it contains can include the following:
Policy holder information (name, address, etc.); description of the vehicle(s) including manufacturer, model, model year, color, body type, etc; drive information including license information; coverage including a brief description of the type and limits.
The policy will also include information pertaining to the cost of the coverage. In general it will be broken down into sections and will be assigned to each vehicle covered.
The policy contains extensive information about the insurance company including address, contact information, etc. There is extensive information which describes the different kinds of insurance coverage.
The policy will indicate in as much detail as possible what will be covered and what will not. It will set procedures for how different things are handled. For example it may set out procedures to be followed if the car is damaged as a result of an accident.
It may specify that the vehicle has to inspected by a company representative and describe how the process needs to be followed.
Again there is usually a great deal of information which tells the policy holder what coverage is included in the policy and how it will be taken care of.
If you read the policy you should understand very clearly all aspects of it. It may also reference state requirements which can apply to the policy. The state documents may be included in the policy or it may be referenced so that it can be looked at separately.
The policy also spells out fairly clearly how claims will be handled and what happens when there are issues or conflicts. In many cases it sets up a process where disputed claims can be reviewed and hopefully rectified quickly and easily.
The policy also provides detail pertaining to payment of premiums and what happens if the premium is not paid as agreed. It will also include payment location and how payments are to be made.
In most cases what is the most important part of a vehicle insurance policy is the policy declaration page. This is usually a one or two page document which specifies many details about the policy including the listed drivers, vehicle information and coverage information.
If you review the policy documents at all, make certain you do a thorough review of the declarations page to make certain if covers what you intend it for.
The insurance policy is a boring documnet, but it is what matters most when you get into the accident. Your claim payment is entirely dependent on what is stated in the policy. Not only this, how much you would be paid, what is your deductible and what is excluded is what the vehicle insurance policy specifies up front.
Get your cheap car insurnace quote- buy insurance and verify the vehicle insurance policy at least once, before you put it away.
If to take into account how offer driver training for a young individual, would you do not insurance in hot water a cost-conscious approach your own, precious car well. Fact is, if the learner on your current insurance Driver Kit, you’re going you to see your rewards to the North. Worryingly, they will return very soon as the cost has been changed. You will need to take this financial risk.
The advantage of an student insurance coverage is that it protects the trainees as well as the owner of the car.
Drawing such coverage is economic security for the car for training, especially for the use of find out how to drive and trainee related risks. The second result is, that the owner of the car with its own available add cover page just change a driver, and making his own cover and record with an insurance company be endangered affected. Simply because the learner driver takes over damage to protect threat protection, the existing insurance cover is not given away to for each new found risk, inducing costs its costs to stay instead of more, or be cancelled.
One of the best advantages a learner driver insurance, apart from the risk coverage, is the fact that they offer risk protection in several places other than just at one place. Because these guidelines must contain complete protection for many common insurance vehicle requirements a learner driver not independent insurance in different areas, drive sparing additional costs.
It is important to know, however, learner driver insurance remains with the named person, if a recorded car is not involved in. Although the insurance company used the vehicle, the teaching period is used only for the period of the learner driver of time and a different car. As a result of a car other than observed if can lose coverage, coverage, if the learner driver to another car continues. This form of insurance cover should certainly not instead of the long term vehicle to receive cash.
A beginner driver plan includes no driving requirements driving the high students in the exercise. In the practice should the students usually by a trained, experienced driver of at least twenty-one years go hand in hand. In addition, the person responsible must have at least three years also promoted.
There’s no limit to the amount of cars through a learner driver insurance contract can be covered. Yet agreed an individual policy for each and every car protected, when put to the trainee driver. To demonstrate if the learners have a scooter and a car has are 2 driver time wanted to be plans during the training period if coverage is desired. Saying that, if the student would like to switch only coverage of vehicles, which also usually costs for a modest payment about 20 pounds could be carried out.
A student insurance policy is a sensible strategy for the simplification of the spirit and bags, when it comes to find out how you drive off. It protects your existing plan and get rid of the worry that could go with a new driver getting in trouble.
Get your cheap teen car insurance here. Get your quote- Just do it for that WOW!
Does My Credit Card Cover Collision Damage When Renting A Car?
If you frequently rent cars, it pays to be aware of some of the “hidden rules” regarding insurance coverage.
There are several ways rental cars can be insured, and rather than duplicate coverage, you should be aware of coverage you may already have which would pay for damages if you rented a car and caused an accident.
One way you may be covered for rental car damage is simply to take a policy out when you rent the car.
These policies are cheap and are available right where you rent the car.
However, if you already have liability insurance on your own car, you are generally covered when you rent a car, as well. Collision damage, however, may not be covered.
Some credit cards will actually pay your deductible if you use the card when renting a car, and are involved in an accident which your liability insurance or a rental contract cover.
However, not all cards cover these deductibles, so you must know if you have rental coverage with your current card before assuming your deductible will be paid. Other cards will offer you primary or secondary coverage beyond what your insurance policy covers.
For American Express cardholders, all cards except the Delta Options card provide “secondary” coverage. This means that the card will pay what your insurance does not pay. You can pay a fee of $24.95 per rental to have primary coverage, which means the card will pay the entire amount so that you do not have to file a claim with your insurance company.
American Express covers rentals up to thirty days, and excludes various types of claims; it also will not cover rentals in Australian, New Zealand, Ireland, Israel, Jamaica, and Italy. For small business cards, coverage is limited only to the United States. American Express also offers towing and storage reimbursement and “loss of use” coverage.
Master Card offers secondary coverage up to $50,000 for Gold, Platinum, World, and World Elite cardholders. Vehicles excluded include pickup trucks, recreational vehicles, and any vehicle with a retail price of over $50,000.
The cards also cover loss of use and towing fees, and all cards except the World and World Elite exclude Ireland, Israel, and Jamaica from coverage.
Discover cards, except for student cards, offer secondary coverage up to $25,000. Discover does not cover fees such as towing, but has no location limitations on coverage. Rentals up to 31 days are covered, but coverage extends to 45 days if the card is used to rent a car used for business.
All Visa cards offer secondary coverage for rentals up to the actual cash value. Rental coverage is for 15 days in your country of residence and up to 31 days outside of that country. The cards cover reasonable towing and loss of use charges, but exclude the countries of Ireland, Jamaica, and Israel.
Diners Club cards provide the most comprehensive rental coverage of any credit cards. Diners Club offers primary coverage up to $100,000 for the Carte Blanche and $75,000 for other cards. Trucks, some SUVs, and recreational vehicles are excluded.
Coverage lasts for 45 days of rental, and towing and loss of use are covered. Diners Club does not offer coverage in Jamaica, Australia, Ireland, Italy, Israel or New Zealand.
If you are curious as to what your credit card covers regarding rental insurance, visit your company’s web page or call customer service for your card. Ask about renting a car and what particular coverage your card offers.
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There are certain things you should know and never indulge in to stay safe. If you really want cheap car insurance and want to save money stay away from all these conseqences described below. This is what you need to avoid and help your friends also avoid.
Taffic violations, reckless driving -check out.
With most traffic violations, drivers get away with a mere slap on the wrist—a fairly small fine, one or two points against their license, and a note on their driving record. However, for a handful of especially egregious offenses, the penalties are far more severe. Large fines, jail time, and license suspension or revocation are a few of the possible consequences of committing a serious traffic offense. Read on for the details of what typically happens when you are convicted of any of the following traffic violations.
Remember driving is a privilege, not a right, and the state can suspend a driver’s license for reasons including but not limited to excessive traffic violations, driving under the influence of alcohol or drugs, and failure to pay fines for traffic offenses. Suspensions, unlike revocations, are finite—they can last anywhere from several months to several years. If you drive while your license is suspended, a first offense could get you several months in jail, several hundred dollars in fines, a mandatory license suspension of a year or more, and/or community service. Subsequent offenses carry even steeper penalties. In most states, the penalty for a first offense of driving under license suspension is the same as driving under a license revocation. To get your license reinstated after such a violation, your insurance company will need to file an SR-22 with the motor vehicle department of your state.
This offense encompasses a wide variety of possible incidents that carry disparate punishments. If, for example, you provide details that you know or have reason to believe are false to a police officer filing an accident report, you would probably be convicted of a misdemeanor of some sort depending on your state. On the other hand, if you are convicted of staging an accident and filing a false accident report for the purpose of defrauding an insurance company, that offense will typically qualify as a felony punishable by multiple years in prison and large fines.
Most states define fleeing the police as operating a vehicle with the “intent to elude” and “knowingly and wantonly” disregarding the direction of a police officer to stop the vehicle (example language taken from Kentucky law). States also typically classify this offense with degrees (i.e., first, second, and third). In most cases, to be convicted of fleeing or evading the police in the first degree, some other crime must also be involved, such as driving while under the influence, immediately fleeing the scene of a domestic violence incident, or driving on a suspended license. A first-degree evading police conviction is almost always a felony, but the lesser forms of the offense may carry less severe penalties. A license suspension, fines, and steep insurance rate increases are almost guaranteed upon conviction regardless of the degree of the violation.
Also known as a hit-and-run violation, leaving the scene of an accident can be a misdemeanor or a felony depending on the nature of the accident and state law. In Arizona, for example, drivers involved in an accident causing serious physical injury or death who fail to stop are guilty of a class 4 felony, which carries a two-and-a-half-year term of imprisonment. However, if the driver caused the accident and then fled, he/she is guilty of a class 3 felony, which carries a three-and-a-half-year imprisonment term. The driver will also have his/her license suspended for three to five years. On the other hand, the consequences are slightly less severe if a driver flees from an accident involving only property damage. Most states define this offense as a misdemeanor and will suspend the driver’s license for at least a year. If you are a witness to an accident and not an involved party, you are not legally required to stop.
A credentials violation can apply to a long list of offenses, including driving on an expired license, driving without proof of insurance, driving with a counterfeit or stolen license, driving on a suspended or revoked license, or violating the terms of a restricted driver’s permit or license (such as those for drivers under the age of 16 in most states). Some of these offenses, such as driving without proof of insurance, do not fall into the category of serious violations so long as you can eventually provide proof of insurance. However, other violations, such as driving without a license, typically qualify as misdemeanors, which means you could face jail time and heavy fines. If convicted, the offense will also appear on your criminal record.
In contrast to speeding, drag racing or street racing is considered intentional, wanton, and reckless and thus carries stiffer penalties. You will receive a racing violation if your speeding was the result of an acceleration contest with another vehicle. Many states treat racing as a criminal violation, while others classify it only as a serious traffic violation. A first-time offender found guilty of street racing will typically pay a fine of $100-$500, face a license suspension of 30 days or more, and receive demerit points on his/her license. Some states also have mandatory jail sentences for first-time racing offenders. Repeat offenders will face much larger fines and significant possible jail time.
Whereas careless driving is considered a minor traffic offense, reckless driving qualifies as a serious violation because the law typically deems the driver to have shown a wanton disregard for the rules of the road. In other words, careless driving may just involve an oversight, while reckless driving involves a deliberate act. In some states, mental state is considered in assessing a reckless driving charge. In others, the commission of specific traffic violations alone is enough for the charge. For instance, in many jurisdictions, going 30 miles or over the posted speed limit is enough to qualify as a reckless driving offense regardless of the mental state of the driver. Common punishments include a license suspension averaging about 90 days, fines of $100-$1,000, and possible jail time of up to 90 days for first-time offenders. As with most serious driving violations, offenders will need their insurance carrier to file an SR-22 with the DMV of their state in order to reinstate their licenses.
Vehicle theft, also called grand theft auto, is defined as the taking of another person’s vehicle with the intent to deprive the other person permanently of the vehicle. This offense is distinguished from joyriding, which is the taking of another person’s vehicle for only a temporary period of time. In many jurisdictions, the law also differentiates between grand theft auto and taking a vehicle without the owner’s consent. In the latter case, the offender typically had access to the driver’s keys somehow. Usually, grand theft auto carries a term of imprisonment of 1-3 years. If you are a victim of auto theft, bear in mind that your rates will probably go up after you file a claim under the collision/comprehensive portion of your policy. Rate increases typically last for three years.
Also known as vehicular manslaughter, is an offense resulting in the death of another person due to the negligent operation of a motor vehicle. Some jurisdictions do not create a separate offense for vehicular homicide; rather, they include the offense in the category of negligent homicide. Some states have subcategories of vehicular manslaughter that account for aggravating factors. For instance, California has more serious penalties for those who commit vehicular homicide while intoxicated.
Depending on the state and the circumstances of the incident, vehicular manslaughter may be classified as a felony or a misdemeanor. For instance, in Georgia, first degree homicide by vehicle is a felony resulting in 3-15 years of imprisonment, whereas second degree homicide by vehicle is a misdemeanor that can result in a prison sentence of up to one year and a fine of up to $1,000. A multi-year license suspension is likely in either case, and some states will revoke the offending driver’s license completely.
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A safety check is surely better than a traffic violation- right?
One way you may be covered for rental car damage is simply to take a policy out when you rent the car.