slide1 n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Automobile Insurance: The Basics PowerPoint Presentation
Download Presentation
Automobile Insurance: The Basics

Loading in 2 Seconds...

play fullscreen
1 / 13

Automobile Insurance: The Basics - PowerPoint PPT Presentation


  • 267 Views
  • Uploaded on

Automobile Insurance: The Basics. Automobile Insurance: The Basics. What is the likelihood you will be in an automobile accident? There are more than 12 million motor vehicle accidents annually The typical driver will have a near automobile accident one or two times per month

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Automobile Insurance: The Basics' - dinesh


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide2

Automobile Insurance: The Basics

What is the likelihood you will be in an automobile accident?

There are more than 12 million motor vehicle accidents annually

The typical driver will have a near automobile accident one or two times per month

The typical driver will be in a collision of some type on average of every 6 years

Crashes are the leading cause of death for ages 3-33

slide3

Automobile Insurance: The Basics

  • Even a minor accident can result in thousands of dollars in damages
  • Damage to your car
  • Damage to other cars involved
  • Medical Bills
  • Lost wages
  • Pain and suffering
  • Prosecution
  • Legal Fees
  • Fines
slide4

Automobile Insurance: The Basics

If you are in an accident how do you pay for it?

Bank Account?

Parents?

Rich Uncle?

Best Friend?

Insurance?

slide5

Automobile Insurance: The Basics

  • What is Automobile Insurance?
  • An auto insurance policy is a contract between you and an insurance company.
  • You pay a premium, and in exchange, the insurance company promises to pay for specific car-related financial losses during the term of the policy.
slide6

Automobile Insurance: The Basics

Are you a risk to the insurance company?

To keep premiums as low as possible to the insured, a screening process is completed before an insurance contract is completed

slide7

Automobile Insurance: The Basics

  • What is the insurance company looking for?
  • Some vehicles, and some drivers, carry more risk than others
  • Low risks will be charged a lower premium
  • High risks will be charged a higher premium
slide8

Automobile Insurance: The Basics

What determines your premium?

Age

Youngest and oldest drivers are the highest risk

Driver inexperience is a major factor in accidents

Teenagers are also more likely to engage in dangerous behavior

Older drivers experience diminished eyesight and slower reflexes

slide9

Automobile Insurance: The Basics

What determines your premium?

Gender

Men tend to drive more miles

Men are more likely to engage in risky road behaviors

Two-thirds of teenagers killed in auto accidents are male

The gender gap continues to narrow

slide10

Automobile Insurance: The Basics

  • What determines your premium?
  • Vehicle Type
  • Type of vehicle
    • Expensive, high-performance always cost more to insure
  • Crashworthiness
    • How well does it protect the passengers
    • Some models incur less damage
  • Safety Features
    • Seatbelts and airbags are now standard
    • Side airbags and anti-lock brakes can lower premium
slide11

Automobile Insurance: The Basics

What determines your premium?

Driving Record

Statistics show that people follow patterns of established behavior

If you are cited for tickets your premiums will increase

If you are cited for an accident your premiums will also increase

It usually takes 3-5 years for a reduction in premiums after a violation

slide12

Automobile Insurance: The Basics

What determines your premium?

Geographic Location

Where the cost of living is high, the cost of insurance is higher

Urban areas are almost always higher in accidents than rural areas

Fatal accidents are more likely to happen in rural areas due to increased speeds

slide13

Automobile Insurance: The Basics

What can you do to reduce risk and lower premiums?

Use your seatbelt

Observe Speed Limits

Know your own limits

Concentrate on driving

Be Patient

Don’t Drink and Drive

Get good grades