How Much Do You Know About Auto Repair Insurance?
Posted by
sommai
Labels:
Auto Insurance,
Insurance
We all know what Auto Insurance is, but what is auto repair insurance?A lot of people insure their car(s), but don't insure the repairs that their car(s) will invariably need. You're probably wondering why people miss this vital step. The answer is because the average American hasn't had enough exposure to this kind of insurance, and isn't well-versed on the advantages of owning auto repair insurance. You see, after the warranty on your car has expired, this policy will keep you from high repair bills.How Auto Repair Insurance Works?
We all know what Auto Insurance is, but what is auto repair insurance?
A lot of people insure their car(s), but don't insure the repairs that their car(s) will invariably need. You're probably wondering why people miss this vital step. The answer is because the average American hasn't had enough exposure to this kind of insurance, and isn't well-versed on the advantages of owning auto repair insurance. You see, after the warranty on your car has expired, this policy will keep you from high repair bills.
How Auto Repair Insurance Works
Similar to other types of insurance, an auto repair insurance policy is a contract between a vehicle owner and the car insurance company which puts the responsibility of repair bill payment on the shoulders of the insurance company - not the car owner - during the insured time period.
Every state and every company has its own particular details of coverage and exclusions, and this kind of insurance isn't regulated nationally - so there is a lot of variation across state lines. This is precisely why it is so crucial to become familiar with all the relevant terms and conditions of.
What It Covers
A standard auto repair insurance policy covers the breakdown of your car Here is where we start seeing variation in coverage, for example, a portion of the policies are written such that they only covered expenses are parts that break-down, meaning they are only liable for expenses due to parts that broke. Should you also want a policy that will cover the slow breakdown of parts, you need to read the policy details carefully to make sure it covers parts that wear out over time. A lot of companies do not offer both coverages.
While there are also auto repair insurance policies that cover the engine, transmission, and other parts of a vehicle through which oil flows. However, this would be least preferable in terms of coverage, because most of the car's components aren't covered in this policy.
Bumper-to-bumper policies are also available from some car insurance companies, which cover nearly all the mechanical systems of a vehicle. An non-covered items would be specified. For instance, an auto repair insurance policy might not cover .
Another important consideration before purchasing - besides all the above-mentioned points about making sure you know all your auto repair insurance policy details - is to know how much you will be paying by way of deductibles.
Even if the manufacturer's warranty has lapsed, your car can be covered until it reaches the 100,000 mile mark. But keep in mind that as your vehicle clocks up the miles, your policy will also ratchet up in price
Something interesting to bear in mind: if you buy a transferable auto repair insurance policy, the policy can transfer to the next owner - so you can sell your car for a lot more money!
The majority of people understand the benefit of a well-rounded auto insurance policy, few truly understand how auto repair insurance {protects you from costly and sometimes untimely repair bills. Now you have a better understanding of how it works, you'll know if this is something you want to look into further.
Thanks for reading my article. I go to
http://www.insurancequoteslady.com/auto/AutoRepairInsurance.html whenever I am researching different insurance-related topics.
Article Source: http://EzineArticles.com/?expert=Kris_Zamora
Learn more about Insurance : http://www.topofbusiness.net/
Subscribe to:
Post Comments (Atom)
November 20, 2012 at 7:10 AM
I can simply say that I don't know anything about auto repair insurance because its a total new insurance scheme about which I am learning from this article. Thanks for posting this awesome detail about this beneficial insurance scheme.
home office insurance
Post a Comment