Information about car, auto, motor and lorry insurance
Being in a car or motorcycle accident is a very frustrating thing. One of the most important aspects is to use a so called Motor Accident Claim Form to fill out all necessary data on behalf of the insurance. What is the official definition of form ? : FORM : attachment to an insurance policy to complete its coverage. (source: Dictionary of Insurance Terms).
Motor Accident Claim Form
When you're injured in a car accident caused by the other driver, you can legally sue the other driver in most states to collect the fair vaIue of your injury. If that driver has auto liabiIity coverage, his policy pays you on his behalf, up to the liabiIity policy limit he purchased. The economic value of your injury equals your out-of-pocket expenses plus compensation for your pain and suffering. But what if the other driver has no insurance at all? Or what if the insurance limit he has is less than the value of your injury? You can get a legal judgement against him and try to collect from him personally. But that can be an expensive, long, drawn-out process. Plus if he's not worth very much and has a Iimited income, you may not collect very much at all !
FortunateIy, your own car insurance poIiey can soIve the problem, if you buy Uninsured Motorists and Underinsured Motorists cov erage:
• Uninsured Motorists: When the other driver is unidentified (hit and run) or
has no liability insurance at all
• Underinsured Motorists: When the other driver has less auto liabiIity coverage
than you and the economie vaIue of your injury exceeds the other driver's
liability limit
( Source: Insurance for Dummies). (Information about Motor Accident Claim Form)
What you need to know about Motor Accident Claim Form
Car Insurance and Motor Accident Claim Form
Here are insurance advises for two-wheelers:
~ Buy the same liability insurance limits for injuries and property damage to others
that you buy for all your other insurance coverage (home, boat, cabin).
~ Likewise, buy the same liability limits for guest passengers riding with you, if
those limits are available. If they're not, don't carry passengers!
~ Avoid lay-up periods, during which all coverage except Comprehensive is
suspended for a small premium credit. It's simply not worth the risk of you
forgetting and accidentally driving during the lay-up period, such as on an
unseasonably nice day in February, with no insurance.
~ Avoid buying more medical coverage than state law requires. It simply
duplicates the heaIth insurance you already should be carrying. Following this tip
will save you quite a bit of money on your cycle insurance.
~ If it is available in your state, carry Uninsured and Underinsured Motorists
coverage in limits equal to your liability limits.
~ If you've customized your cycle, make sure to list the additions on your
application. You may have to pay an extra premium if you want that equipment
Covered.
~ If your cycle is worth enough that you carry CoIlision and Comprehensive
coverage, follow the guidelines in Chapter 3 regarding how to choose the most
cost effective deductibles. (source: Insurance for Dummies)