SAVINGS
Protections
Insurance is always easy to understand!
Auto damage insurance is a complex product that can often leave policyholders confused about their rights and obligations. However, it’s important to understand the details of your coverage to deal with unforeseen situations with confidence. In this article, we will discuss the 5 most misunderstood topics by policyholders when it comes to car insurance.
- The definition of “obsolescence”: “Obsolescence” is a term commonly used in car insurance contracts, but little understood by policyholders. It refers to the normal and expected wear and tear of a vehicle according to its age, mileage and use. If your vehicle is considered “outdated”, this can lead to a reduction in the replacement value in the event of a total loss. It’s important to understand how “obsolescence” can affect the value of your vehicle and your coverage.
- Coverage for damage to other vehicles: Most car insurance policies include coverage for damage to other vehicles. However, few people understand the limitations of this coverage and what is and isn’t covered. It’s important to know what you’re entitled to in the event of damage to other vehicles and whether you need to purchase additional coverage.
- Additional guarantees: There are many additional guarantees available to car policyholders, such as fire and theft coverage, comprehensive coverage, etc. However, few people understand the differences between these guarantees and their respective coverages. It’s important to know what each additional warranty covers so you can choose the one that best suits your needs.
- How does your liability in a motor vehicle collision affect your compensation? There’s no denying that your liability in a car accident can impact the amount of compensation you’ll receive. If you are found to be at fault for the collision and your vehicle is damaged, you will only be compensated if you have collision protection or comprehensive insurance. In addition, you will also have to pay the deductible provided for in your contract. If you are not at fault for the accident, your insurer will pay you compensation, even if you do not have collision or comprehensive insurance. In addition, you will not have to pay a deductible. The article “How does your liability in a motor vehicle collision affect your compensation?” provides clear and precise information to policyholders on how the insurance works according to the liability established.
- Deductibles and limits of coverage: Deductibles and limits of coverage are often misunderstood by auto policyholders. A deductible refers to the amount you must pay in the event of a claim before you can benefit from your insurer’s coverage. Coverage limits refer to the maximum amount that the insurer will pay in the event of a claim.
The insurance broker
An insurance broker is a professional who acts as an intermediary between you, the client, and the insurance companies. Here’s how a broker can help you with your insurance questions:
Research and Selection : Brokers prospect and negotiate with insurance companies to find the most advantageous contracts for you, at the best price. They go through the different options available and help you choose the one that best suits your needs.
Personalized Advice : A broker takes the time to understand your specific needs and situation. They advise you on the appropriate types of insurance, the amounts of coverage, and the exclusions to consider. Their expertise allows you to make informed decisions.
Claims Management : In the event of a claim, a broker assists you in the claims process. They guide you through the steps needed to get compensation quickly and fairly.
Offer Comparison : Brokers have access to several insurance companies, allowing them to compare offers and present you with a variety of options. You save time by avoiding contacting each insurer individually.
Follow-up and Continuous Service : Your broker is there to support you throughout your insurance contract. They can help you update your policies, adjust your coverages to meet your changing needs, and answer any questions you may have.
An insurance broker is a valuable partner in helping you navigate the complex world of insurance. If you’re looking for a broker in Quebec, you can use directories such as Assur360 to find the right one for you.
FAQ
