10 things you need to know about car insurance

| March 8, 2019

article image
When it comes to handling anything car insurance related, you might be tempted to back away slowly with no sudden movements – car insurance follows the same logic as snakes, right? It’s an understandable reaction. Auto insurance can get, well, complicated, and there are plenty of things to remember. We’ll go over ten things that you need to know about car insurance – without making it complicated. 10 things you need to know about car insurance. 1. Liability insurance won’t pay to repair or replace your car. This is an important thing to know about car insurance: Liability insurance will only cover your legal obligation to the other driver and their passengers if you’re at-fault in a car accident. It can cover expenses such as the other driver’s medical bills, their lost wages, and their pain and suffering. (And it can help cover legal expenses if they decide to sue.) Liability insurance can also cover the costs of repairing or replacing the other driver’s car and other property you might damage.

Spotlight

ReSource Pro

ReSource Pro brings to the insurance industry tools, technology and strategic services that enable profitable growth through operations excellence. Headquartered in New York, ReSource Pro s global service centers address client operational needs around the clock.

OTHER ARTICLES

How technology will transform life insurance

Article | April 20, 2020

Do you know what the UK insurance industry is going through? A disruption that calls for complete metamorphosis. Not so different from what the whole world is going through at the moment. Crafting one-size-fits-all products and expecting them to sell like hotcakes is a huge misconception. Customers want products to be as personalised as possible. Pay per mile insurance or lower car insurance premiums for safe drivers are some examples. In the current global crisis, personalised life insurance would look like factoring in the unique health/ living conditions of the person and then providing insurance options.

Read More

Covid-19 will make cyber and digital insurance policies more relevant than ever

Article | April 20, 2020

Kennedy's Elizabeth Bardsley discusses the risks brokers need to be aware of as more and more professionals work from home as a result of the coronavirus pandemic. As the insurance industry continues to grapple with the Covid-19 pandemic, many have begun to give thought to what lasting changes will stay with us once the crisis has passed. For example, attitudes towards flexible working are expected to permanently change as more and more professionals work from home. And in a similar vein, we are likely to see a significant impact on the popularity of cyber and digital liability policies.

Read More

How AI is transforming the Insurance Sector

Article | April 20, 2020

The use of AI (Artificial Intelligence) is revolutionizing the working system of different industrial sectors and insurance is just one of them. Besides the insurtech companies that are vouching for AI tools, the traditional insurance companies too are now showing eagerness to shift their business processes to AI based technologies. As masters of digital technology and established website design company in Mumbai, we understand the reasons behind its rising popularity. AI technology has the potential to optimize efficiencies- enhance customer satisfaction, manage risks, detect frauds and improve the claim management system and more.

Read More

Putting a price on protection: the importance of cyber insurance

Article | April 20, 2020

For almost as long as businesses have been subject to risk, some form of insurance has existed to mitigate their exposure. The first recorded commercial insurance policies date back to Babylonian times, and in the thousands of years since, the types of business cover available have multiplied exponentially, driven by the uptake of technology. It’s now over 20 years since the first cybersecurity policy was written. At the time, this was considered groundbreaking – although by modern standards, its scope was limited. These days, cyber insurance providers cast a far wider net. By 2025, it’s expected the global market size will grow to over $23 billion. Some policies cover the costs arising from first-party data breaches, while others cover liability for damages, providing assurance for companies who collect and store sensitive customer information.

Read More

Spotlight

ReSource Pro

ReSource Pro brings to the insurance industry tools, technology and strategic services that enable profitable growth through operations excellence. Headquartered in New York, ReSource Pro s global service centers address client operational needs around the clock.

Events