Personal risk management includes knowing your policies and what they cover. The following article will help you understand the various parts of your personal auto policy (PAP) and what to look for. When you buy auto insurance, you enter into a legal contract with your insurer. The policy and any attachments (called “endorsements”) spell out...
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Why You Need Uninsured and Underinsured Motorist Insurance
According to the Insurance Research Council, about one in seven drivers in the U.S. is uninsured. Being involved in an accident with an uninsured motorist can mean huge financial losses if you don’t have the right insurance coverage. In 2009, the most recent year for which statistics are available, 13.8 percent of motorists did not...
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How Are Your Auto Rates Calculated?
Most people know that having a car accident can affect the price of their auto insurance. However, insurance companies use many factors to determine what they charge, and some of those factors may surprise you. Knowing what determines your premium could help you save money. Auto insurance premiums are determined by two factors: underwriting and...
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