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the leaders in the industry to offer the best
rates for finance and insurance.
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customers under one roof.
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Vehicle
insurance (also known as auto
insurance, car insurance, or motor insurance)
is insurance purchased for cars, trucks, and
other vehicles. Its primary use is to provide
protection against losses incurred as a result
of traffic accidents and against liability that
could be incurred in an accident.
Vehicle insurance can cover some or all
of the following items:
- The insured party
- The insured vehicle
- Third parties (car and people)
Different policies specify the circumstances
under which each item is covered. For example,
a vehicle can be insured against theft, fire
damage, or accident damage
independently.
Excess
An excess payment, also
known as a deductible, is the fixed
contribution you must pay each time your car is
repaired through your car insurance policy.
Normally the payment is made directly to the
accident repair "garage" (The term "garage"
refers to an establishment where vehicles are
serviced and repaired) when you collect the
car. If one's car is declared to be a "write
off" or "total loss"("write off" is commonly
used in motor insurance to describe a vehicle
the worth of which is less than the cost of
repair), the insurance company will deduct the
excess agreed on the policy from the settlement
payment it makes to you.
If the accident was the
other driver's fault, and this is accepted by
the third party's insurer, you'll be able to
reclaim your excess payment from the other
person's insurance company.
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