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Wednesday, May 23, 2012
wyoming car insurance
Uninsured Motorist
What happens when you are involved in an automobile collision with a driver who is at-fault but does not have auto insurance? In those circumstances, you would look to your Uninsured Motorist, or U.M., coverage.
Closely related to UM is another form of coverage called Under-Insured Motorist, or UIM. This type of coverage applies in situations when you are involved in a collision with an under-insured driver. You will typically collect the insurance coverage the at-fault driver has and then you will make a claim against your own UIM coverage. For example, if the other driver's policy limits are $25,000, and your damages are $100,000, the UIM coverage on your own policy would pay the additional $75,000, depending on your UIM policy limits.
UM and UIM typically apply only to bodily injury claims.
While many states require insurance companies to offer UIM coverage, you may not be required to purchase it. Check Internet #1 General Insurance Company Of America right now!
The insurance industry is huge and there are many companies who are competing for market share. It is important to compare car insurance companies. However it is also really difficult to differentiate between the many companies that are offering car insurance because they often look similar. How do you know which company would best fit your needs? When reviewing insurance companies; try to determine the strengths and weaknesses, coverage differences and policy terms.
Companies are often rated based on their financial strength. Many top insurance providers have extremely strong ratings. It is good to check the ratings of all the companies before you determine the right choice for you.
Rating System Used for Insurance Companies
• A-A-A. : Extremely Strong
• AA : Very Strong
• A : Strong
• BBB : Good
• BB : Marginal
• B : Weak
• CCC : Very Weak
• CC : Extremely Weak
• R : Under Regulatory Supervision
• NR : Not Rated
There are many websites that offer car insurance company profile comparisons. Looking up a profile can provide the feel of a company's performance and structure. You will also be able to learn about company niche specialties which will also help you determine the best fit for your needs.
Make a Scorecard
A good way to compare car insurance companies is to make your own scorecard. Try to compare the following information to determine what your future experience might be like:
• Price: This is perhaps the first thing on a person's mind when it comes to searching for auto insurance. Track all the prices that you are quoted from insurance carriers to determine what the best deal is.
• Knowledge: If you are talking to an agent over the phone, does he or she seem to be able to explain all of the parts of a coverage? Are they trying to rush you through the buying process?
• Friendliness: Are the insurance agents friendly, patient, and courteous with your inquiry or do they seem to be annoyed?
Compare Coverage Levels
As you are aware, not every insurance company offers the same insurance coverage. There are many optional features, different deductibles, and varying coverage levels. While you are comparing car insurance companies make sure to check for service fees, car rental options, liability coverage, medical coverage, and collision coverage. These are all important factors in determining whether a policy is the right fit for you.
Check the Policy Term
As you are comparing insurance companies, pay close attention whether your insurance policy will lock you into a six month or a one year policy. Usually a year policy decreases the price of your premium and also guarantees that your rates will not go up. Purchasing a six month insurance policy might also be a good option especially if you are expecting a ticket to be dropping off, or if you are turning 25 years old. Both of these would decrease your insurance premiums, so a six month policy might be a good option.
One good thing about shopping for car insurance is that you can change carriers at any time. By comparing insurance companies you will be able to determine what the best options are for you. Try to discover important information about coverage levels, policy terms, and customer satisfaction while you are comparing insurance companies.
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