Progressive Management Associates


HOLDER - DRIVER - OWNER

 

The Lord / a policyholder is the person who has legal obligations under the insurance contract is signed. Its role is responsible for all matters relating to the contract from the user point of view. That is, if a policy is two managers (the company and the insured), from the viewpoint of user, who will respond to the policyholder. Therefore, he who pays the policy is, and who will be held accountable if you do not pay or if we try to cheat the insurance. That itself is freed from the responsibilities that may have the owner or the driver if they are different people.

In particular conditions should see the name of the payee, address and tax identification number. Normally also asks for the phone. Any other information requested by the company (from the age until which fits shoe size) is not necessary, if requested will be with the intention twisted on another occasion, "sell" something else, as many times a company Security is also a bank, offers life insurance, etc.

The Lord / a Landlord is, as its name suggests, the owner of the vehicle, and this is not another one that appears in the registration certificate as such. In the beginning, from the standpoint of insurance, this gentleman / a is the "stone guest" in a policy, because all it does is to own the property insured, nothing else though, is responsible for property, but in other areas, as will pay the road tax, etc.. And it will be liable if the driver of the vehicle "ignores" or "no shows" as responsible when an accident.

He is also responsible (''half''with the driver) in the event that the vehicle is uninsured.

In particular conditions should see the owner's name, address and tax identification number. Normally also the phone calls, but nothing else, no need any additional data.

Likewise, in the time of the policy the company requests a copy of the Vehicle Driving Licence. What reason does this?. For despite what companies may say, the fundamental reason is to check whether the vehicle owner and driver are different persons, as in this case, may be to some strange case (see occasional drivers).

Example: Suppose a young person bought the car straight out the card. In order to secure common commit two errors in these circumstances. The first to buy the car because he has put his name (as expected and normal), and the second slip is sure to want to put the father's name (as driver) because he is very expensive. At this point, every company would know that (except in the case of wealthy players) a child does not buy a car from a father. The company will thus detect deception, and therefore will not accept that the driver is the father but the son.

The Lord / a Driver is the true protagonist, who will drive the vehicle of Mr. Landlord, whose insurance will pay Mr. Taker. And it is the protagonist because:

    * The characteristics of age, driving experience, accidents in previous years will constitute the foundation on which to calculate the amount of insurance. That is, in the final price affects the type of car, the coverage they are hired, but above all, the most important are the characteristics of the driver.
    * The driver, and only He can drive the car to be fully insured. However, it should perform various nuances of this, but its amplitude is discussed in casual drivers. This section is a must read, for the inaccuracy or lack of knowledge on these issues often constitute a major source of problems between company-insured, especially economic.

At this point, it is normal to want to know why all these figures about the policy, especially when in most cases is the same person who buys the car (owner), who pays the insurance (the policy) and who is going to drive (driver). Well, simply because even if it is the usual case or majority is not the only option. And if not ... see this:

Example: A company buys a car (owner), and "delivery" to its subsidiary for use. The subsidiary, in bringing the different accounts to other subsidiaries ... it will pay the bill (taker), and of course, as the company can not drive a car (unless proven otherwise, a legal person has no feet, no hands ...) because it gives a person for that drive (driver). It is clear that neither the policy nor the owner nor the driver are the same person.

 

VEHICLE

 

If you are looking to make a car / auto insurance in Virginia, it is inevitable that appear in the special conditions that vehicle, and specifically our car. Therefore, the data to be recorded are:

    * Make, model, version, engine, etc, etc, or whatever it is, all data on it that lets us know exactly what it is. That is, there is a difference Seat, a Seat Ibiza, Seat Ibiza a STELA, a Seat Ibiza 1.9 TDI STELA, a Seat Ibiza 1.9 TDI 5-door STELA.
    * Your registration, or alternatively, the VIN of the car.

With these two facts is perfectly identified the car, and both are accurate, because only with the license plate is not specified, and cars of the same model there are many. However, the combination-plate model is unique.

Special attention should be paid to selecting the specific model of your car, as this poses serious implications.

Example 1: Suppose a Seat Ibiza 1.0 S, ie the most basic version. Imagine that when you specify the particular model, inadvertently, by mistake or ignorance, the final model selected is the Seat Ibiza 1.8 T GT (the highest-end model). Because of this, the policy will amount to pay more than they should. That is, as you ride the insured value, the more money you pay for the policy.

But if one day something happens and the car suffers a total loss, the company will not pay compensation for the more expensive model, but to truly secure.

This is called in technical language SOBRESEGURO, and occurs when something says more value than it actually has, and its consequences are direct and simple: the company only really compensate for the value insured. However, insurance has paid more than they share.

Example 2: Now the opposite case: On the basis of a high-end model, but in fact indicated in a car insurance low range.

Consequently, when calculating the premium to pay, actually pay less than that theoretically belonged. Now if one day something happens, do not expect the insurer to pay the money in proportion to our high-end car, but will be in proportion to our low-end car, because based on the price of this was done insurance.

This, in technical language is called underinsurance: happens when a vehicle is assured less value than it actually does. Compensation will be perceived according to the insured value.

A real and practical case is the following: Our Ibiza 1.8 T GT series had alloy wheels. But I sure as Ibiza 1.0 S, which has the normal rim of plate. In case of theft of the wheels, our company would not buy alloy wheels, but the sheet.

 

SERIAL NO ACCESSORIES

 

It is a common use, in addition to all that in itself brings a car, you install other accessories. It's very interesting to see what treatment should be given to these elements regarding insurance. Now, first of all, it is well to specify and clarify why it is called accessories.

Given the vastness of the subject, we treat non-standard Accessories.

 

COVERS

 

If the user verbally agreed with an insurance company "all risks" or a safe "third most moons," or any other, this is the time and place specified in writing.

For example, if an insurance "all risks" can not be expected that the policy put something like: "Congratulations!, You have a comprehensive insurance", because that exists. Instead, there really is a policy with an accumulation of different coverages together to a greater or lesser extent, can cover all or nearly all possible contingencies.

Thus, you can find coverage that is called:

    * Liability Compulsory
    * Volunteer Liability
    * Travel Assistance
    * Safe Driver
    * Legal Defense
    * Robbery
    * Fire
    * Moon
    * Repair Loan
    * Penalty Defense
    * Withdrawal of driving license
    * Major damage
    * Damage to own
    * Replacement vehicle

Who have all of these coverages in your policy, congratulations!: Have a safe "all risks", is not it?. Here is the uncertainty because the true extent of the coverage will go based on what you put in the fine print of each. For example, although coverage is contracted travel assistance, perhaps the company is not sure if the car is parked in the garage will not start. That is, to know what each coverage actually covers you should go to the fine print of the General Conditions.

Needless to say that of all the coverages that are explained in the book of general conditions, hedges are only insured to indicate in the Special Conditions. Thus, if a user has hired, for example, coverage for theft, they need not waste time reading the small print Terms and Conditions of this coverage, because, simply, if something is stolen, the insurance does not covering.

About the coverages listed above, should know how they should appear on policy:

    * Insurance of driver: you should see the amount of money paid as compensation in case of death.
    * Defense Legal: You must include the amount of money that will be available to the insured in the course of using the services of a lawyer hired independently, ie different from the insurance company.
    * Franchise: Indicate the amount of money payable by the user, at most, in each incident. And likewise, and an important factor, we must consider what coverage is affected by the franchise, because although you will usually only apply to damage themselves, there are companies that also apply to other coverages, or even their amount increases if the driver is different than that declared.

 

EFFECTIVE DATE AND TERMINATION OF INSURANCE

 

In the Special Conditions must state the time, day, month and year of entry into force of our insurance. And literally so, HOUR, DAY, MONTH and YEAR.

Normally, except for sporadic cases, the end date is one year, ie that the insurance will end at that hour, day and month, but a year later.

Everyone will understand the importance of these data, since they give the measure of time that applies the policy coverage, the beginning and end. Or what is the same, all incidents occurring before and after these dates will not be covered by the company.

Noting the policy also appears another hour, day, month and year: the date on which insurance is made, ie in which the policyholder and the company agree on the insurance.

This date does not necessarily coincide with the entry into force of the insurance, since it is possible to make the policy a few days before it comes into force, but in any case it is not going to have a later date. In this case, would insure a vehicle in a time past, and that companies never do (or if you have got to do with it is because it is a very important client with more or less obscure reasons). And this is so by pure logic and no one will pay for insurance and up, unless you have some sinister "pending" and I want to endorse the company.

 

PAYMENT

 

The general rule is to pay by bank transfer to secure the current account of the insurance company. To this end, the policy may display the user's account number. In this case, it is interesting that, in any event not listed the 20 digits, since this type of information can be dangerous if it falls into the hands "wrong". What is certain is that the company will sign a piece of paper to the borrower for payment pursuant to, ie, to authorize payment of the bill when the insurance company will run it.

There is also the possibility of payment in cash. Practice is rare, but it exists. It has as much validity as a transfer, but in this case, it is dangerous and must be taken into account:

    * Require a receipt, duly stamped and signed.
    * It is advisable to pay the amount an agent or broker, to avoid problems. Virtually all agents or brokers are serious and respectful, but we can find one that gets the money, and although it seems that the company has taken (an agent belongs to the company), but the reality is that it has received, it has no record of it.

Finally, and as equally important aspect, in particular conditions can be referred to the payment, ie whether to pay for insurance at one time, or is to be split in several installments.

In this respect we can say that legally, the insurance is paid in advance and that its duration (except in exceptional cases) is for one year. Therefore, if the companies offer the possibility to pay more than once, do not free, but that impact, in most of the time-some interests, they really do is give us a loan to pay it in installments. Hence, doing the accounts, make sure to pay at one time, it is cheaper to do it in several times.

Also, companies are reluctant to split the payment in installments, as there are many cases in which a person pays the first bill and when you reach the next maturity, has changed its company and return it. In such cases, the company will be in the dilemma of "dealing" with the insured and charge in court and losing a customer forever, or let it go and wait until the client returns over time.

Our view is that if you can and there is good deal with the company, the insurance is paid at once and to pay interest is not usually interesting. However, if there is not much reliability to the insurer, and no problem paying that interest, it may be preferable to pay in installments, as in case of default will always be based pry back the receipt.

 

BENEFICIARY / INSURED

 

If previously appeared a number of people when you know who pays the insurance bill, who is the owner of the car who can drive it, it's time to specify who are the policyholders and beneficiaries who are able to charge if it passes something.

This section deserves more attention if not for a hint: be careful when specifying the beneficiary.

In principle, the insured is the one to receive the compensation that apply if there is something sinister, and this for one simple reason, and it is because he is insured, ie is the person designated to collect.

Now, if something happens is secured (I die, you had better not become incapacitated), then

 

Who paid?

The normal thing is to not put anything, and if so would be "legal heirs", or whatever it is, what the law says

Thus, the favored person is:

    * The spouse, if married in community of property
    * The children if any and no spouse, or if any but the scheme is separate property.
    * Parents, if no spouse, no children, or no spouse but no children and separate property regime.
    * Or, in short, what makes the law, because somebody has to receive the money because otherwise it will be the company.

But the real issue in this section is that in any case not want to put as beneficiary as a legal person, since in that case, HACIENDA will be a good deal. As they say, they pay little, evil, late and never on top of that, comes the Treasury and keeps half.

So when in doubt, DO NOT put anything, or making something, think about who they would like to stop the money.

In case you are in a special situation in which you want specific people did not take the money, or who receives a particular person, that person should be reflected, with names and surnames. Insurance is a private contract between two parties, and as such is not subject to the law says about "inheritance", ie the user is free to anyone who wants a beneficiary.

 

ADDITIONAL CLAUSES

 

Maybe in some companies, in addition to everything already mentioned above, other items appear indicating, more or less strangers.

These items can be made for several reasons, and they are:

    * Particularize in case some of the articles of the General Conditions.
    * Modify an item of the General Conditions that is already obsolete (this is a real sloppy, as a professional company should edit a new General Conditions).
    * Insert additional items to our case.

Interesting to read carefully because it will normally excluded circumstances explaining why the insurance.