Vehicle Insurance Secrets That No One Tells
Is your vehicle insured? Or get it insured as soon as possible. Because to drive a vehicle legally, it must be insured. But you can't insure a vehicle like a tree. There are many things you need to know. But no one tells you the details of those things easily. But we, MotorGuide, are revealing vehicle insurance secrets that no one tells you today.
Things to consider regarding motor vehicle insurance
Insurance rights
If you have acquired a registered vehicle or an unregistered vehicle, you should immediately transfer the ownership of the vehicle to your name. You should also get insurance in your name. That is, you cannot get insurance for vehicles that do not have insurance rights in this way.
The market value of the vehicle
When insuring a vehicle, you will not get a special benefit by insuring it above the market value. In a sudden or accidental accident However, the compensation you receive is the market value. So, if you insure your vehicle for less than the market value, if it is damaged or destroyed, you may receive a compensation amount that is less than the market value. Also, even if the vehicle is completely damaged, you will only receive the market value you insured. Therefore, you should make sure to insure the vehicle for the appropriate market value.
Suitable insurance coverage
You may insure your vehicle for personal use, rental, driving training, or for transporting goods or passengers. You should insure the vehicle for that relevant coverage. Imagine that you have insured your vehicle for personal use, rented it out, and suddenly an accident occurs. Then your claim may be rejected.
What to do when insuring a motor vehicle
Choosing a registered insurance company
You can choose to insure it from a registered insurance company or a registered insurance company. Make sure to get insurance from a broker or an authorized insurance sales agent.
Entering the correct information in the application form
When you go to get insurance, you will receive an application form. You must fill out that application form yourself. And you must enter only the correct information in the application form. The most important thing is to keep a copy of this filled application form with you.
Reading the insurance policy carefully
You must include the things covered and the things not covered in the insurance policy. Also, when signing the insurance policy, read it carefully. Keep a copy of the insurance policy with you in mind.
What not to do in motor vehicle insurance
Filling out the application form by someone else
Never let someone else fill out the application form. This is very important when insuring a vehicle.
Incorrect information in the application form
One thing that should not be done is to enter incorrect information in the application form. Another thing is that if you have to fill in something that is not applicable, you should state that it is not applicable there.
What kind of damage is covered by motor vehicle insurance?
Things like an explosion in the vehicle, removal of spare parts of the vehicle, an explosion from the inside, lightning strikes or theft of vehicle parts are fully covered. In addition, by paying an additional premium, you can cover things like riot cover, terrorism cover, flooding and vehicle towing costs.
What damages are not covered by motor vehicle insurance?
If you drive a vehicle without a valid driving license and get into an accident, that damage is not covered by motor vehicle insurance. Also, accidents caused by drinking and driving and accidents caused by using the vehicle for illegal activities are not covered by this. In addition, technical issues of the vehicle, wear and tear of parts Damages like this are not covered.
How to file a complaint with the Insurance Regulatory Commission of Sri Lanka?
You can log in to the Insurance Regulatory Commission of Sri Lanka website and get more information. If you are defrauded by an insurance company, visit this website to learn about what to do.
You may already know some of the secrets we have revealed to you today. And you may not have known some other things. However, today's article has revealed some vehicle insurance secrets that no one tells you, so you can get your vehicle insured without getting cheated or getting into trouble.
