Car Insurance - Some Interesting Facts
You need to pay high fines depending on how serious the offense is. In case you are at fault in an accident when you are driving under influence of alcohol, you may get your driver license and vehicle registration suspended. Car insurance companies usually check your driving records before they can determine the next step. Insurers will consider the severity of the offense, your risk as driver, and economic demographics before they raise your premium rate, transfer you to high-risk class, or simply cancel your policy. Insurers will use those variables in different ways; some companies rank DUI a less of a risk compared to at-fault accident.
Providing coverage to high-risk driver is as well a risky business for insurer. They consider you a high-risk driver with a tendency to get involved or cause accidents. Once your policy is cancelled, you will need to find a new insurer which does provide high risk policy. Once again, depending on how serious the DUI is, you probably can still get cheap auto insurance quotes. A DUI at low speed as your drive from bar located not very far from your home will affect the driving record differently with a fatal accident at high speed while you are driving under the influence of alcohol or drugs.
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Car Insurance or Automobile Insurance is a must for every vehicle owner but the scariest part of car insurance is that premiums rise year after year while the value of the car itself undergoes depreciation. Yet it is imperative for vehicles to have insurance to give the owner a cushion against losses due to accident, damages due to weather or unexpected elements.
For many citizens wondering why car insurance rates are peaking, the reason is as simple as the ZIP code. The five-digit location identifier seems to make a dramatic impact on car insurance premiums, varying from a few hundreds of dollars to even thousands. The average car owner is totally unaware of how much his residence location can make a difference. Insurance companies use the ZIP code to analyze data such as - how many claims originate from that area due to accidents, theft, vandalism etc.
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The current landscape for Uber and other ridesharing companies is in the midst of rapid change. The field became so popular, so quickly, that legislation hasn't really had the chance to adapt as of yet. This is something which happens across all new and quickly evolving industries, of course.
However, new laws are being put in place in several different locations, with others surely to follow suit in the near future. It's important to understand what's taking place, and how it affects Uber drivers and their need for insurance.
As of now, Uber drivers are left with only contingent coverage when they are driving on the way to pick up a passenger but do not have the passenger in the vehicle. This puts them in a precarious position, and many don't understand that their personal auto policies won't cover this, and may in fact actually void their policy for it. At the same time, Uber's contingent coverage may not kick in.
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