What Is Car Insurance?
Vehicle Insurance Is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle.
What Should A Car Insurance Have?
‘Should have’ features
If your car is stolen and not recovered, or damaged following an accident, fire or theft – and the cost of repair is above a certain percentage of the manufacturer’s recommended retail price – your insurer might replace your car with a new car of the same make and specification.
How Does The Car Insurance System Work?
Car insurance provides financial protection if you’re in a car accident, your vehicle is damaged in a non-collision event (e.g, a falling tree, hail, etc.), or your car is stolen. In exchange for a premium – the amount of money you pay for your policy – the insurer will pay for covered expenses.
Why Car Insurance?
Auto Insurance Can Offer Coverage For:
- Vehicle damages, including your car or another driver’s vehicle
- Property damage or bodily injuries caused by an accident
- Medical bills and/or funeral expenses associated with injuries sustained in an accident
Importance Of Car Insurance?
Failing to obtain the minimum car insurance required by the laws in your state could result in a suspension of your license, fines or even jail time for repeat offenses.
Who Is Responsible For Insuring A Car?
Whoever owns the vehicle is responsible for insuring it, so if a car is company owned, the company must organise insurance cover.
How Do You Find If A Car Is Insured?
How to check if someone else’s vehicle is insured?
- Obtain the registration number of the vehicle you wish to check.
- Search the askMID database for the details that you need.
- If the vehicle is found in the MID database, then the insurance details of the other vehicle will appear on your screen.
What Are The 3 Types Of Car Insurance?
3 Types of Auto Coverage Explained;
- Liability coverage. Protects you if you cause damage to others and/or their stuff
- Collision coverage. Covers your car if you hit another car, person or non-moving object (like those darn ornamental rocks cousin Todd has at the end of his driveway)
- Comprehensive coverage.
Which Type Of Car Insurance Is Best?
Taking a comprehensive car insurance cover is always advisable as it provides complete protection of not only someone else’s car like a Third-Party car insurance, but also the Own damages to your car, as well as any injury to the owner driver.
How Do You Find If A Car Is Insured?
How to check if someone else’s vehicle is insured;
- Obtain the registration number of the vehicle you wish to check.
- Search the ask MID database for the details that you need.
- If the vehicle is found in the MID database, then the insurance details of the other vehicle will appear on your screen.
Some Benefits of Car Insurance;
- Damage or loss to insured vehicle. In case your vehicle is damaged due to an accident, fire, or self ignition, you are protected
- Personal accident cover
- Large network of garages
- Third party liabilities
- No claim bonus
- Quick and hassle-free process
- Customer support
Cost Of Insurance In Ghana;
The cost of insurance covers differ from various providers. Priority Insurance’s third party insurance for saloon cars cost GHC 221 a year and GHC 371 a year at SIC Insurance. To get a quote for a comprehensive policy, the car has to be presented to the insurance provider for assessment. Factors such as the year model and the purpose of the car is taken into consideration.