Car Insurance. Justine McAleese & Rita Kamau. Elements of a Contract. Must be an agreement based upon a definite offer by one party and the acceptance of that offer by the other party The two parties must be legally competent to make a contract
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Casual factors in Fatal Auto Accidents
Factor Percent of Cases
Improper driving 75.9
Speed too fast 30.1
Right of way violation 14.1
Drove left of center 10.5
Other improper driving 21.2
No improper driving 24.1
Liability Limits Factor
A) Bodily Injury Coverage :
B) Property Damage Coverage: Protect from financial loss due to damage of other people’s property or your vehicle.
Coverage Limit :
Discounts for Safe Drivers:
- Premier Discount: If you've been safe on the road and accident-free for the past three years, and you're also clear of any moving violations, you might qualify for our auto insurance Premier Discount
- Defensive driver class discount : If the principal driver usually 55 years old or older has completed an approved defensive driving class a discount could apply.
Discounts for Safe Cars:
- Passive Restraint Systems: If your car came equipped with airbags, or factory-installed motorized seatbelts, you could receive a Passive Restraint Discount on your auto insurance.
- Auto Safety features: Certain states will give you discounts for anti-lock breaks, alarm systems, fuel shut off, and second ignition. These reduce the risk of thest, lowering insurance cost.
Good Student discount : If you are a full-time student who meets certain grade requirements and are unmarried and usually under 25 years of age (some states the age is 21) you could be eligible for a good student discount.
Multiple vehicles discount. This will only apply if you have two or more drivers.
- If you have a clean driving record, meaning you do not have any tickets, accidents or suspensions in the last three years (some companies require five years) then you could be eligible for a safe driver's discount.
ISO Symbols :
To determine the cost of repair to a vehicle after an accident, insurance companies and agents subscribe to a service provided by a company called “Insurance Services Offices, Inc.”, or “ISO”.
This service rates every vehicle produced in the USA and throughout the world with a symbol, called an “ISO symbol”. The ISO symbol is built in as part of the insurance company’s computer rating system, (your insurance premium quote).
In general, the higher the vehicle cost, the more expensive to repair, and a higher policy premium cost required. The higher the symbol number, the higher the insurance premium cost and the higher the parts cost, and for a body shop to repair.
Example ISO symbols for 2005 vehicles:
6 - Dodge Caravan SE 4 dr. Wagon
10 - Mercury Sable GS 4 dr. Sedan
16 - Honda Accord EX 2 dr. Coupe
25 - Audi A8 Quattro 4 dr. Sedan