Q. Considering that most mandates for vehicle insurance usually only include liability which protects other people if you do something stupid, but health insurance is the opposite.
A. Because they are ignorant of the facts and it has nothing to do with choosing to drive or not.
As you mentioned, with car insurance you are only required by the government to get liability coverage. If you dig deeper the real fact is you are actually only required to show financial liability. Most people do that with insurance, but every state will allow you to post a financial bond instead of insurance. The amount of the bond will vary by state but in my state it is $40,000. You can find the information for your state on your state department of insurance website. It can be difficult to find with some states, though.
The other car insurance coverage that is "required" is comprehensive and collision, which are required by your lender, not the government. As long as the car is paid off you don't have to carry that coverage.
As you mentioned, with car insurance you are only required by the government to get liability coverage. If you dig deeper the real fact is you are actually only required to show financial liability. Most people do that with insurance, but every state will allow you to post a financial bond instead of insurance. The amount of the bond will vary by state but in my state it is $40,000. You can find the information for your state on your state department of insurance website. It can be difficult to find with some states, though.
The other car insurance coverage that is "required" is comprehensive and collision, which are required by your lender, not the government. As long as the car is paid off you don't have to carry that coverage.
What factors influence cost of vehicle insurance?
Q. Is vehicle insurance for a used car more expensive than a new car, or less expensive?
A. age of driver (younger costs more)
driving record (DUI costs a lot)
area (N Jersey costs twice as much as Iowa)
type of vehicle (sports cars cost more)
costs more if you have never had insurance before
Don't know about used versus new
If you have several cars, it costs less
Have it on your parents policy, costs less
driving record (DUI costs a lot)
area (N Jersey costs twice as much as Iowa)
type of vehicle (sports cars cost more)
costs more if you have never had insurance before
Don't know about used versus new
If you have several cars, it costs less
Have it on your parents policy, costs less
Why I need a vehicle insurance when police check for vehicle documents ?
Q. Why I need a vehicle insurance when police check for vehicle documents, I know that Insured is to claim ur money in case of any damage to ur vehicle but, I think its my whish that whether I want to get my vehicle insurance claim or not, than why Indian police claim fine if I don�t have Insurance paper after all its my whish whether I want or don�t want my vehicle to be insured.
Or, is it a document needed for police verification if yes than why?
Or, is it a document needed for police verification if yes than why?
A. If you own you vehicle free and clear of the bank..you have to have liability insurance to cover damage you might do to someone else.
It is generally cheap.
If you owe money to the bank for your car and the bank has your title, then the bank will require full insurance to protect their collateral ..your car.
The reason why is simple..before those laws were in effect, folks without insurance would ram someones car..hurting the driver and destroying their transportation then show up in court saying.
I am broke so too bad about your medical bills and your car...sue me all you want, I have not money to collect.
That is why most states (if not all) require at least liability insurance...to protect the other drivers from irresponsible drivers.
It is generally cheap.
If you owe money to the bank for your car and the bank has your title, then the bank will require full insurance to protect their collateral ..your car.
The reason why is simple..before those laws were in effect, folks without insurance would ram someones car..hurting the driver and destroying their transportation then show up in court saying.
I am broke so too bad about your medical bills and your car...sue me all you want, I have not money to collect.
That is why most states (if not all) require at least liability insurance...to protect the other drivers from irresponsible drivers.
Do I need non-owned vehicle insurance for my pizza delivery business?
Q. I am starting a pizza delivery business but I cannot find an insurance carrier that will provide non-owned vehicle insurance. Do I need it? Can I just have the standard business owner policy?
A. I'll let you decide.
First, let me tell you what the coverage is.
If one of your employees is delivering a pizza in their own car, and they hit a pedestrian and kill them, the lawyer is going to sue you, because they were acting in the course of their employment.
Do you WANT to have any coverage, if you get a million dollar lawsuit against you? If so, you need the coverage.
Alternatively, you can buy a car, and insure it on your business insurance policy, and let your employees use that car to deliver the pizzas.
Whatever you mean by standard business owner policy, well, coverage is NOT standardized! So if you HAVE no nonowned auto liability under that policy, then you DON'T get that protection.
First, let me tell you what the coverage is.
If one of your employees is delivering a pizza in their own car, and they hit a pedestrian and kill them, the lawyer is going to sue you, because they were acting in the course of their employment.
Do you WANT to have any coverage, if you get a million dollar lawsuit against you? If so, you need the coverage.
Alternatively, you can buy a car, and insure it on your business insurance policy, and let your employees use that car to deliver the pizzas.
Whatever you mean by standard business owner policy, well, coverage is NOT standardized! So if you HAVE no nonowned auto liability under that policy, then you DON'T get that protection.
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