So you know that you have to have insurance on your car in order to be able to legally drive it, but do you know everything about how the policy works? Are there some terms that you are unclear on, that you would like to understand more clearly? If so, a few of the key points are discussed in more depth below. Take the time to glance over them so that you know what your policy offers and you are ready to take advantage of it if you are ever involved in an auto accident.
What is a premium?
Your premium is just the amount of money that you have to pay every month to keep the policy. It can change based on a number of things, such as whether or not you have been in an accident, how much coverage you want for your vehicle, how old you are, and things of this nature.
What is a deductible?
This is the amount that you have to pay when you file a claim before the insurance will cover the rest. This is usually just a set amount, such as $500. If you are only in need of $400 for the repairs, you are best off not to file a claim and just to pay for it yourself since you have to pay the deductible anyway. If you need a new car when yours is totaled, though, it is not so bad to get one for just $500.
How do you file a claim?
There are many ways to file a claim, depending on what Dallas TX insurance you have, so you need to check with your agent. Generally speaking, you can call your agent and tell him what happened, and then he can give you the number to call to do the rest. You can then do it over the phone. You can also file a claim online, because there is a lot of paperwork to submit and that is the easiest way to do it.
What if you miss a payment?
If you miss a payment, you may void your insurance policy entirely. This is because, with each payment, you are paying for the month to come, not the month that just occurred. Therefore, by not paying, you have effectively not bought insurance for the next month, and any accident during that month will not be covered. Always make your payments on time.
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