insurance – تريند الخليج
How Does Car Insurance Work?
Whether you lease, finance, or own your car, it is mandatory to have car insurance. However, in order to be eligible for car insurance, certain conditions and restrictions apply.
To begin with, you (and all drivers you wish to include in the policy) must have a valid driver’s license and be a resident of Canada. Next, insurance companies will look at your prior driving record to determine eligibility and rates. However, rates will vary depending on whether you are looking for a new insurance policy altogether or if you wish to renew an existing one. Other eligibility restrictions may arise from past convictions. This too, will vary depending on when your last conviction occurred and the nature of the conviction.
How Much Does Car Insurance Cost?
There are a number of factors that determine how much your car insurance will cost. Here are 7 of the key factors that insurance companies take into consideration when calculating your car insurance premium:
Your car: The make, model, and year of your car can affect your insurance premium. This determines the cost and value of the car, safety features, and repair costs.
How often you drive: The number of kilometers you drive your car per year will affect your insurance premium.
If you use your car for commercial purposes: If you use your car for work purposes (other than commuting), you may need to get commercial car insurance. Your business may require a higher liability limit.
Your driving record (and the records of all drivers who use your vehicle), which includes: The number of years you’ve all been licensed for. Convictions due to driving infractions (which includes speeding tickets). Accidents.
Where you live: Premiums are usually higher in and around large urban areas
The coverage you choose: The more adequate the coverage, the more it will cost to insure your vehicle
Special discounts: Belonging to a preferred group for professionals and alumni. With TD Insurance you can select up to three eligible groups!
Specified Perils
Protects your vehicle from specified perils such as losses caused by fire, floods, hail or theft.
Comprehensive
All other insured damage caused to your vehicle (except collision or upset)
Collision or Upset
Damage to your vehicle caused by a traffic collision with another vehicle or object.
The broadest level of coverage — combines Collision or Upset and Comprehensive coverage along with increased theft protection.
Do I need car insurance?
Car insurance is a legal requirement. If you own or drive a car in the UK, the law says you must have at least third-party only insurance. You must have insurance, even if you don’t drive your car, and you keep it parked on a road, driveway or in a garage. This applies to all drivers, and you can find car insurance for:
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