Auto Insurance Old car and new car insurance

[sincerem]

I believe that when one enters into auto/car insurance policy. Their will surely be a difference when it comes to old cars and new cars. One who insures his or her car into insurance auto premium policy having an old or outdated car will receive low premium policy benefits when the need arise.


Any given auto insurance company feels that, the old car has every tendency or risk of incurring accident or breaking down beyond repair, and that's a burden to such insurance company to offer high premium policy benefits.

And again, such insurer will come to pay high premium policy service before going into insuring his or her old car. Cos of its high risk of incurring damages to his or her old car compare to new and modern cars.


What do you have to say about old car and new car insurance premium policy?

 

[Mataracy]

I believe that when one enters into auto/car insurance policy. Their will surely be a difference when it comes to old cars and new cars. One who insures his or her car into insurance auto premium policy having an old or outdated car will receive low premium policy benefits when the need arise.


Any given auto insurance company feels that, the old car has every tendency or risk of incurring accident or breaking down beyond repair, and that's a burden to such insurance company to offer high premium policy benefits.

And again, such insurer will come to pay high premium policy service before going into insuring his or her old car. Cos of its high risk of incurring damages to his or her old car compare to new and modern cars.


What do you have to say about old car and new car insurance premium policy?

You are correct bro. I will also like to explain some thing further that when one is about to insured his or her property the insurance company will firstly look keenly in to it the contract is the likely risk will not be too much ( they will calculate the risk very well) . After then the insurance will now accept if its good for them. That's where the word offer and acceptance comes up under contract policy.

 

[btaliat]

You are not far from the truth. And there are some things that the insurer on auto should realize, if one decides to sell the car under insurance, the person may not be compensated. And in a situation where the car has an incident, and the insurer has been compensated, the insurance company can take the wreck of the car.

 

[Alexandoy]

I consider the car insurance here as a sort of scam. It is okay to insure the car that is 5 years old and younger. The damage is covered in full. But after 5 years the coverage is just 60% of the damage. You are paying the premium but you do not get the full coverage on the reason that your car is already old. We have stopped the insurance on our cars when they reached 5 years old.

 

[Mika]

I don't have a car, therefore, I do not have car insurance. I have a two-wheeler and I have insured my two-wheeler. Since I never have had an accident, so far my two wheeler insurance is just a liability. However, this does not mean I will not encounter accidents. If disaster happens, I will recover the financial loss.

 

[Setho]

I think that this is actually some basic knowledge and then they are only trying to offer those policies so that they will be able to sustain a system. It is actually very common for cars who have been on the road for up to 10 years to be developing faults periodically while newer cars are normally known to develop just little or no faults over a long period of time.