All owners are required by law to insure vehicles driven on public roads. Some provinces and territories offer public insurance while others have insurance sold privately. Here are some basic items to consider when buying vehicle insurance:
Liability insurance is mandatory, and is used as financial protection against loss or injury caused to others while operating your vehicle. The minimum amount of insurance required differs across jurisdictions but keep in mind that skimping on liability insurance may cost you in the long run. Minimum liability will not cover the cost of an accident resulting in the injury of several people, for example, particularly in circumstances where litigation is an option.
Vehicle damage insurance, unlike liability insurance, may be optional. Damage insurance, however, is still recommended for the simple reason that damages to a vehicle will quickly add up in the event of an accident where you are at fault. Not being able to recover any money will have serious ramifications on your bank account.
Some dealers or credit grantors may require that you take out other insurance such as life and/or disability insurance prior to agreeing to do business with you. Make sure that you fully read and understand any agreements that you are asked to sign and that you get a copy of the completed and signed agreement. Do not sign an agreement unless it is completed in full.
You should also do some comparison shopping on insurance prices and coverage prior to signing any agreement. Here are some items to consider in keeping your insurance rates to a minimum:
Accidents can increase your insurance costs, especially when you are at fault. Though it's easier said than done, staying out of accidents will save you money in more ways than one.
Statistics show that some vehicles are more likely than others to be involved in an accident. Insurance companies are aware of this and therefore charge more to insure high-risk vehicles. The make and model of the vehicle, its colour, and whether it's a two-door or four-door are all factors considered by your insurance company. Some cars are also more expensive to repair or are frequently pursued by thieves. Consider how important owning a high-profile vehicle is to you. Contact the Vehicle Information Centre of Canada (www.vicc.com) to find out which vehicles will cost you more to insure.
Where you live may affect what you pay for automobile insurance. Driving to work everyday, especially if it's a long commute, does not only mean extra gas and wear and tear on your vehicle but also the possibility of a higher insurance premium. Urban residents may have higher premiums than those living in rural areas.
Insurance companies reward those who are of low risk to them. Discounts might be offered for driver education, multiple vehicles, high academic achievement, anti-theft devices or abstinence from alcohol, among others. Have your insurance broker inquire about any of these types of discounts.
Sometimes it doesn't pay to be carrying collision or comprehensive insurance on an older vehicle if the total amount you are paying for the deductible plus the monthly premium is more then the entire worth of your vehicle.
Showing posts with label car accidents. Show all posts
Showing posts with label car accidents. Show all posts
Tuesday, 18 November 2008
Sunday, 2 November 2008
Car Accidents, Some Facts
Accidents, personal injuries and insurance claims are here to stay. No matter how far into the 21st Century American’s elect to drive (unless by the beginning of the 22nd Century we’re all zipping around in our own personal space ship) motor vehicle accidents will continue to pile up; with no end in sight!
There are more than 200,000,000 licensed drivers in the United States. (As of 2008 we’re close to a yearly 7 million motor vehicle accidents, involving well over 3.5 million injuries).
Car accident crashes cost society an estimated $4,900 per second. That’s about $25,000 in the time it took to read this fact.
Current records show that most American driver’s will have a near motor vehicle accident 1 to 3 times per month and will be in a collision of some type on the average of every 5 to 8 years plus these records also indicate that licensed teenagers are 22 more times likely to get a speeding ticket than those who are 65 years of age or older.
In 1896 there were only four cars registered in all the United States. Two of them collided with each other in St. Louis.
By the year 2025 there will be 33 million people 70 years or older in America. This segment of the population will be growing 2.5 as fast as the total population. They will make up the largest percentage of the “turning left” and “rear end” accidents. Slowly but surely Senior Citizens have developed a higher accident ratio than teenagers. (This will, in time, seriously impact the typical Senior Citizen’s pocketbook). And also, by 2025, the total costs for motor vehicle accidents in the United States will exceed 450 billion dollars.
The world’s most solitary tree is located at an oasis in the Tenere Desert in Central Africa. There’s not one other standing tree within 31 miles. In 1960, it was smashed into by a truck.
Up-to-date statistics clearly reflect that 1 out of every 5 Americans are involved in an alcohol-related car crash at some time in their lives and the day in which motor vehicle accident injuries occur most often is Saturday. Sunday is second.
FIVE CRUCIAL MEDICAL DEVELOPMENTS THAT HAVE SLOWLY BUT SURELY COME TO PASS. THESE WILL SERIOUSLY (AND FOREVER) IMPACT THE VALUE OF PERSONAL INJURY CLAIMS IN THE YEARS TO COME:
Records prove that a motor vehicle accident of as little speed as 5 MPH can produce a “whiplash-type” injury.
The symptoms arising from an injury sustained in a motor vehicle accident do not necessarily present themselves immediately following an accident.
Medical research and clinical experience have accumulated enough information to demonstrate that the delay of an injury symptom is the norm.
Studies have established that the delay of a symptom does not eliminate the possibility of severe injury.
It’s been proven that individuals can continue to be symptomatic for many months (even years!) after a motor vehicle accident. In addition approximately 75% of them remain symptomatic for a minimum of 6 months after the accident. (And current up-to-date statistics reveal that between the first and second year after an accident has occurred over 20% of those injured actually have their symptoms worsen).
There are more than 200,000,000 licensed drivers in the United States. (As of 2008 we’re close to a yearly 7 million motor vehicle accidents, involving well over 3.5 million injuries).
Car accident crashes cost society an estimated $4,900 per second. That’s about $25,000 in the time it took to read this fact.
Current records show that most American driver’s will have a near motor vehicle accident 1 to 3 times per month and will be in a collision of some type on the average of every 5 to 8 years plus these records also indicate that licensed teenagers are 22 more times likely to get a speeding ticket than those who are 65 years of age or older.
In 1896 there were only four cars registered in all the United States. Two of them collided with each other in St. Louis.
By the year 2025 there will be 33 million people 70 years or older in America. This segment of the population will be growing 2.5 as fast as the total population. They will make up the largest percentage of the “turning left” and “rear end” accidents. Slowly but surely Senior Citizens have developed a higher accident ratio than teenagers. (This will, in time, seriously impact the typical Senior Citizen’s pocketbook). And also, by 2025, the total costs for motor vehicle accidents in the United States will exceed 450 billion dollars.
The world’s most solitary tree is located at an oasis in the Tenere Desert in Central Africa. There’s not one other standing tree within 31 miles. In 1960, it was smashed into by a truck.
Up-to-date statistics clearly reflect that 1 out of every 5 Americans are involved in an alcohol-related car crash at some time in their lives and the day in which motor vehicle accident injuries occur most often is Saturday. Sunday is second.
FIVE CRUCIAL MEDICAL DEVELOPMENTS THAT HAVE SLOWLY BUT SURELY COME TO PASS. THESE WILL SERIOUSLY (AND FOREVER) IMPACT THE VALUE OF PERSONAL INJURY CLAIMS IN THE YEARS TO COME:
Records prove that a motor vehicle accident of as little speed as 5 MPH can produce a “whiplash-type” injury.
The symptoms arising from an injury sustained in a motor vehicle accident do not necessarily present themselves immediately following an accident.
Medical research and clinical experience have accumulated enough information to demonstrate that the delay of an injury symptom is the norm.
Studies have established that the delay of a symptom does not eliminate the possibility of severe injury.
It’s been proven that individuals can continue to be symptomatic for many months (even years!) after a motor vehicle accident. In addition approximately 75% of them remain symptomatic for a minimum of 6 months after the accident. (And current up-to-date statistics reveal that between the first and second year after an accident has occurred over 20% of those injured actually have their symptoms worsen).
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