Estimate the Value of your Vehicle

Estimate the value of his car is essential, whether for self insurance or for sale. In an accident, your insurance will be based on the value of your car to compensate you. It is therefore to assess properly. For good expertise will allow better compensation.

What is the value of the car

The value of the vehicle depends on many factors:

 Age: date of release. Inevitably, more a car is old, the less of value in terms of compensation from insurance. Unless, of course, your car collection.

Mileage: depending on the number of kilometers displayed on the meter, if the vehicle is medium used so we can estimate, or more frequently.

Repairs made: if too old repairs were made, the value of the car decreases. Remember to tell your car insurance if you change your vehicle. For more information, read our article, 

vehicle Change: consequences on car insurance.

History: first hand or not ... Depending on the age of the vehicle, the insurer applies a coefficient.

Options: If the car is equipped with various options, it obviously takes more value.

Third party insurance or all risk

Depending on the value of your car, you can choose to be insured fully comprehensive or third party. For example, if your car is old and has already undergone some repairs, make sure the third is sufficient.

See How RightTrack® Works With Liberty Mutual

How quickly be compensated after a car accident?

Passenger, cyclist or pedestrian, when suffered a car accident, you are entitled to compensation. Shocked, hurt, or worse, you have yet quickly perform several steps.

To start the compensation process, victims or persons accompanying them must complete an accident report. Sometimes this can be complicated. If this is the case, it is better to appeal to the police than to write anything! They will draw up a report. This document may be transmitted to insurance companies. The statement of claim must be made in a time of 5 days. In addition, the insurer may exclude the disaster management although this is relatively rare. In his statement, the insured or the person accompanying him must state the name and number of the insurance contract, and the date, place and circumstances of the accident. The names and addresses of witnesses may also be mentioned.

Once the declaration made, the insurer appoints an expert in case of property damage. In case of personal injury, a first visit is to the emergency by a doctor. Then, the insurer may appoint an expert to determine provisionally the injury and the date of consolidation: the date on which it is estimated that injury can not worsen. If the conclusions are not suitable for the victim against a second opinion may be sought at its expense. There is no legal deadline for expertise, but it is usually held within 15 days after the accident.

The insurer then has the obligation to send a letter to the victim to inform him of his rights. This must have free access to the police report, the assistance of a lawyer or doctor of his choice. The victim must generally respond to a questionnaire to be returned within six weeks of receipt. These include informing the insurer of suffered damage and personal and professional consequences caused by the accident. The insurer then has between 3 and 8 months to propose compensation. After accepting the offer, the victim receives the settlement no later than forty-five days after acceptance. Beyond this period, the insurer will have to pay interest.

The estimate of damage is particularly difficult. The victim should not accept the offer of the insurer eyes closed. Within fifteen days following its agreement, it can even retract by sending a registered letter with acknowledgment of receipt and challenge the compensation offered to him. The Association for the Management of Information Risk in Insurance publishes online a file listing the compensation paid to victims of road accidents. It allows each victim compare his situation to other similar cases and evaluate the compensation offer and wisely.

Young driver: choosing the right auto insurance

To an insurer, the young driver is the one that got her license for less than three years or has not been insured in the past three years. Here are our tips for reducing the rating of insurance contributions.

Win time

If you have the opportunity, first to drive the vehicle of your parents. Registration as an additional driver allows you to gain experience and seniority.

Having received accompanied driving is also an asset that can contribute to underestimate the contributions.

When purchasing your first car insurance personally, request a quote for the insurance of your parents.

Limit guarantees

Auto insurance is used primarily to compensate victims of an accident which you are responsible. This ensures "the third", which is mandatory.

Optionally, it can also protect your vehicle against theft, fire, glass breakage ... Unlike accidents, these claims are not more common among young drivers. The guarantee does not cost you so much more.

Namely: Insurance "all risk" of little interest to an older vehicle.

Remember the additional guarantees

Your car insurance can handle towing your car wreck, the loan of a vehicle during repair ... If you need a vehicle to get to your work or school, these guarantees can be precious: do not neglect them.

Think also about the personal driver insurance. This option compensates you if you are injured in an accident that you are responsible. What offset the loss of a job or a year of study if you had to be hospitalized several months for example.

Play the game

By signing your auto insurance policy, you are agreeing to its terms. If you cheat, you may see your insurance terminated and have a lot of trouble to make sure again. Surcharges "young driver" only last two years: in the meantime, be patient!

And because the insurance operate according to precise rules, inform yourself! Compare quotes, question your contacts, read the terms and conditions (the "rules of the game" of the contract).

Note: an auto insurance broker allows you to create competition by comparing several contracts. He can also advise you to choose the one that suits you best.

Adapting your auto insurance needs

Auto insurance is a legal requirement. It is primarily intended to protect third parties against the damage caused by the driver. How to build a suitable contract? Here are the questions to ask to not forget anything.

What use the vehicle?

Auto insurance ensures that risks which it is aware. So if your contract states that you are the only authorized driver to use your car, take it could have serious consequences in case of disaster, your insurer could refuse to compensate the victims, or against you. therefore carefully define not only the drivers likely to use your car, but also special cases such as towing a trailer for example.

What level of vehicle protection?

The extent of coverage of auto insurance is vast: it goes the broken glass replacement to the replacement value. The options and deductibles and deductions determine the amount you will be responsible for repair or replacement. Remember guarantees annexes such as the loan of a vehicle during the repair time.

Note: the repurchase of franchises can significantly increase your contribution. You can also choose to be in place precautionary savings, sometimes less expensive in the long run

What level of driver protection?

Your auto insurance does not normally cover damage you might suffer yourself. This requires purchase a personal guarantee of the driver, which will cover you in case of fault accident. However, make sure it does not duplicate with a guarantee already subscribed otherwise, such as the group benefits underwritten by your employer.

Namely: your multi-risk home insurance generally includes an option "defense and legal remedies," check if it includes cases from cars.

When to change auto insurance policy?

This is usually on the occasion of the purchase of a vehicle that the question arises. However, you can of course change the contract at will, provided they respect the notice period of your car insurance is up to two months.