Introduction:
Without the facility of insurance, modern society would not have lived with the financial stability which is at risk against the unknown and unexpected events. Many times we tend to forget the importance of being properly and adequately insured against the future mishaps which may lead to terrible consequences.
Vehicle Insurance:
The insurance business has matured over the years offering financial stability against many kinds of likely mishaps. They are related to life risks, diseases, accidents, theft, natural calamities, liability and many other risks. Other than life insurance the next most important insurance is related to vehicles. Our life depends on vehicles in so many ways. At the same time vehicles by their mobility are causes for many untoward events like crashes injuring the persons in it, injuring outsiders, theft of the goods and the theft of the vehicle itself! With these possibilities and universal use of cars as main personal transport, it is necessary to understand the various issues related to proper insurance of your car.
Temporary Car Insurance:
Cars are inseparable part of our lives and we put them to use in various traveling needs. Hence it is necessary to understand the different aspects and details of the car insurance. Unlike many other insurance proposals, insuring vehicles is not just left to our choice (there is no rule that you must compulsorily insurance against diseases or theft!), but car insurance is a legal requirement as well. Traffic accidents can injure or kill not only the inmates of the car but also outsiders of other vehicles involved in the crash. Thus it is essential that cars must be adequately insured from various angles. The laws enacted by different states differ and it is necessary to get up-to-date information of the rules applicable to your car.
There are situations where you need to use a car for a short period only. In which case, a facility called Temporary Car Insurance cover is available. There are many occasions for going for Temporary car Insurance. You may be planning a vacation trip for a week or two with family using a rented car or you may have to arrange a car for your guests visiting USA for a few weeks. Some times, even if you own a car you may have made plans to use rented vehicle for a short trip.
The insurance companies have provisions for offering such short term car insurance and certainly it makes sense not to buy the insurance cover for the whole year if you are going to use it for a short period. You can cancel the insurance policy once the purpose is served by sending the written request to the insuring companies for cancellation.
Is Short Term Car Insurance necessary?
Yes, it is absolutely necessary to have valid insurance taken out for the car even if you are going to use it for a short period as this is a legal requirement; infringement of which can penalize you severely. It is also important to carry the insurance papers along with you as it is compulsory in some states to produce the valid papers.
You must never ignore the possibility of accidents to your vehicles even though you are using it for a few days. Such negligence can really put you in serious trouble as the crashes can not only injure you and your friends but also can incur third party damages resulting in huge claims of third party liability.
Keeping this in mind it makes sense to go for temporary car insurance cover which in fact costs you a fraction of your regular insurance.
Things to keep in mind:
The short term car insurance in no way affects your existing regular insurance plan. You can have temporary insurance in spite having regular insurance in case you need additional coverage for short term the risks like floods and vagaries of climate. People with keen awareness about the importance of insurance will opt for “one day” insurance package when they use a car for even test drive!
What are the factors that affect the insurance premium for short term insurance? You must be aware that the insurance premium reflects the assumed risk probability arrived by the insurance companies. For example statistical data points out higher risk for unmarried males compared to married persons. Like wise there are many factors reflecting the risk perceived by the insurance companies and the premium are charged based on that.
When you apply for temporary car insurance cover the questionnaire presented to you requires all the necessary information about yourself, the car and the driver. You must be prepared to present the necessary information and the proof if necessary. The age of the car, the make and model, the number of miles car is run and the safety features present in the car are taken into consideration. Similarly age, marital status, previous driving records and other details of the driver is also to be provided. You are asked to provide the information regarding any accident the driver or yourself being involved.
You have to choose the proper coverage level also. Minimum value that can be chosen is mandated by law, but you can choose values above that. For bodily injuries the best coverage is $250,000 to $500,000 while amounts in range of $ 50000 to $100,000 are considered normal but above the state minimum values. For property damage a coverage of $100,000 is considered the best value while $25000 is fairly good values. For Uninsured Motorist bodily injury the same coverage as mentioned above for Bodily injuries are considered as good values.
Other information you must be prepared with is the annual and daily mileage of the car and the security features active in the car. Most companies need the information of credit rating and occupation.
You can also get cheap temporary car insurance from many insurance service providers. You can save substantial amount by buying the insurance for the whole 12 months and cancel the insurance after completion of the period you need, by paying a small cancellation charges. Cheap temporary car insurance can be obtained by digging many online resources which give quotes for insurance in your area.
Conclusion:
There are many occasions when you need to use the car for a short term and for this period you must get the short term insurance which cost just a fraction of regular annual policy but is as necessary and useful. The procedure of getting the short term insurance is simple and online facilities have made getting the insurance cover still easier.
