In many jurisdictions it is compulsory to have vehicle insurance before using or keeping a motor vehicle on public roads. Most jurisdictions relate insurance to both the car and the driver, however the degree of each varies greatly.
A 1994 study by Jeremy Jackson and Roger Blackman[1] showed, consistent with the risk homeostasis theory, that increased accident costs caused large and significant reductions in accident frequencies.Can you reduce your vehicle insurance premium? The answer is yes. Your objective to finding low vehicle insurance premium can be realized using the right step . To do this, follow these simple steps in decreasing vehicle insurance rates.
Shopping car insurance quotes online gives you a broader range of vehicle insurance to choose from. The objective of shopping is to benchmark on the vehicle insurance rates of different companies. This gives you the chance of finding low vehicle insurance rates. More importantly, it is very easy to compare car insurance quotes online. Find a comparison website where you can compare up to 12 quotes instantly. Liability insurance is the basic car insurance policy required by most states. This policy covers injuries and the cost restoring damage to property and medical assistance up to the limits when you are at fault in an accident. Minimum requirement varies according to the state's auto insurance policy. However higher coverage is highly advised to ensure that the expenses are fully covered and the driver liable for the accident will not have to pay anything. Liability insurance consists of bodily injury liability and property damage liability.Australia
In South Australia, Third Party Personal insurance from the Motor Accident Commission is included in the licence registration fee for people over 16. A similar scheme applies in Western Australia.
In Victoria, Third Party Personal insurance from the Transport Accident Commission is similarly included, through a levy, in the vehicle registration fee.
In New South Wales, Compulsory Third Party Insurance (commonly known as CTP Insurance) is a mandatory requirement and each individual car must be insured or the vehicle will not be considered legal. Therefore, a motorist cannot drive the vehicle until it is insured. A 'Green Slip,'[citation needed] another name CTP Insurance is commonly known by due to the colour of the pages the form is printed on, must be obtained through one of the seven main insurers in New South Wales.b. Keep a good credit history because this shows whether you pay your bills on time or not. Statistics shows a direct relationship of the consumer's credit history to the expected claims. If you currently do not have good credit standing, start improving them now because it will help you in al transactions that you make.
If you hold a good driving history for three or five consecutive years, depending on the requirement of the vehicle insurance companies, you can be rewarded with discounts.Uninsured Motorist Bodily Injury is considered as an additional car insurance coverage in most states. Not all states follow the at-fault system where the driver who is liable for the traffic accident will pay the cost of the damage incurred by the victim as well as the medical expenses. In this regard, not all states demands liability insurance. With uninsured motorist coverage, the victim of uninsured motorist will obtain financial assistance with the cost of repairing his/her car and medical expenses.
Canada
Several Canadian provinces (British Columbia, Saskatchewan, Manitoba and Quebec) provide a public auto insurance system while in the rest of the country insurance is provided privately. Basic auto insurance is mandatory throughout Canada with each province's government determining which benefits are included as minimum required auto insurance coverage and which benefits are options available for those seeking additional coverage. Accident benefits coverage is mandatory everywhere except for Newfoundland and Labrador. All provinces in Canada have some form of no-fault insurance available to accident victims. The difference from province to province is the extent to which tort or no-fault is emphasized.[2] Typically, coverage against loss of or damage to the driver's own vehicle is optional - one notable exception to this is in Saskatchewan, where SGI provides collision coverage (less than a $700 deductible, such as a collision damage waiver) as part of its basic insurance policy. In Saskatchewan, residents have the option to have their auto insurance through a tort system but less than 0.5% of the population have taken this option.[2]Auto insurance discounts can help you save money from high vehicle insurance premium. When you shop for vehicle insurance rates, consider those companies that give a lot of car insurance discounts that you can take advantage of.
