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What are the benefits of third party property car insurance and how does it differ from comprehensive coverage?
Third party property car insurance provides coverage for damage caused to other people's property in an accident you are at fault for. It does not cover damage to your own vehicle. The benefits of third party property car insurance include lower premiums compared to comprehensive coverage, as it offers a more basic level of protection. It also helps protect you financially in case you damage someone else's property. Comprehensive coverage, on the other hand, provides a higher level of protection as it covers damage to both your own vehicle and other people's property. It typically has higher premiums but offers more extensive coverage.
What are the differences between 50/100/50 vs 100/300/100 insurance coverage limits?
The main difference between 50/100/50 and 100/300/100 insurance coverage limits is the amount of coverage provided for bodily injury and property damage. In a 50/100/50 policy, the coverage limits are 50,000 for bodily injury per person, 100,000 for bodily injury per accident, and 50,000 for property damage per accident. In a 100/300/100 policy, the coverage limits are 100,000 for bodily injury per person, 300,000 for bodily injury per accident, and 100,000 for property damage per accident. Essentially, the 100/300/100 policy provides higher coverage limits compared to the 50/100/50 policy, offering more financial protection in the event of an accident.
How the probability and statistics is apply in insurance?
They are used to understand how to set insurance premiums. Take, for example, car insurance. The probability of a new driver getting in an accident is higher than an experienced driver. The probability of a male driver getting in an accident is higher than an female driver (in general). The probability of a person who has had many claims filing another claim is higher than someone who has never filed a claim. All these data guide the insurance industry to charge higher premiums to drivers who are new, male or have filed claims in the past.
Can car insurance increase if an accident is the other driver's fault?
If your insurance had to pay anything out on the incident, you could be hit with higher charges.
If you are under 18 your risk of a fatal accident is how many times that of the average driver?
If you are under 18, your risk of a fatal accident is typically about three times higher than that of the average driver. This increased risk is often attributed to factors such as inexperience, higher likelihood of engaging in risky behaviors, and greater propensity for distractions while driving. Statistically, young drivers have higher crash rates, particularly in the first few years of obtaining their driver's license.
If you are a new teenage driver do you have to have full coverage insurance?
Not required, but recommended since you have a higher risk of being in an accident since you are less experienced...
Why are accident at high speeds more fatal than accidents at low speed?
The higher the speed of a collision, the more energy it has, and the more damage it can do.
Does car insurance cover car damage when driver fall a sleep at the wheel?
Full coverage generally means it doesn't matter what caused the damage. But if the driver is at fault, he/she will be liable for possible criminal charges and future insurance rates will be higher.
How many times more is a Driver under 18 likely to have a fatal accident than the average driver?
If you are under 18 years of age, your risk of a fatal crash is about 2 1/2 times that of the "average" driver, and your risk of an injury crash is 3 times higher than that of the average driver.
What is the Worst that can happen on a first offense for traffic violation and property damage?
The worst outcome for a first offense involving a traffic violation that causes property damage can vary widely depending on the severity of the incident and local laws. Penalties may include fines, points on the driver's license, and potentially a misdemeanor charge. In more serious cases, if the damage is significant or there are injuries involved, the offender could face higher fines, license suspension, or even probation. Additionally, insurance rates may increase significantly following such incidents.
Can you be charged higher car insurance after you were involved in an accident and it was on a different company policy it was also not your fault and settled by the other driver?
If I understand your question you are in an accident not your fault and it was settled, but the insurance was through a different company than the one you had ? I think they can hike the rates.
Cost of hit and run ticket in New Jersey?
In New Jersey, the penalties for a hit-and-run can vary significantly depending on the circumstances. Generally, if the accident involves property damage, the fines can range from $2,500 to $5,000, along with potential jail time. If there are injuries or fatalities involved, the penalties are much more severe, including higher fines and possible criminal charges. Additionally, points may be added to the driver's license, and insurance premiums could increase substantially.
