Wednesday, June 20, 2007
Get To Know Auto Insurance California Style
When purchasing auto insurance, California has some stipulations regarding the coverage of its drivers. The purpose of this, of course, is that everyone is expected to be responsible in a case of an accident and this removes any irresponsible drivers from the highway. You have to have auto insurance California state laws demand it.
We all know that auto insurance can be pricy, but there is cheap California auto insurance. All you have to do is check it out thoroughly with the different insurance companies. You will never know what is out there until you try. Compare prices with the different auto insurance and California has many companies to choose from. You find one that will give a good deal on cheap insurance.
It is required by California law that you have evidence of auto insurance regardless if youre driving your own car or someone elses. If you do own a car and dont use it, you still have to maintain auto insurance in California.
To obtain registration of your vehicle you need your insurance documents, evidence of liability insurance or a copy of your ID card from an auto insurance company in California saying that the vehicle is currently insured. Cash depositors have to show a receipt that they have paid their auto insurance California and others must produce a copy of DMVs acknowledgment letter with the assigned self-insured number and the expiration date.
Whether or not it is cheap California auto insurance, it is required by the law. You have to be careful of the policy you carry as full auto insurance coverage may only cover the damage with no medical coverage. Check with your agency to make sure you have what you need to cover everything under your auto insurance California.
You will have to show proof of your auto insurance California and ownership if you have an accident or if you are stopped by a patrol officer. If you fail to provide either of these documents the officer has a right to issue you a ticket. If when you go to court and you lose then you would be expected to pay a fine of not less than $500.00.
If you live in California you need auto insurance California style.
Common Life Insurance Terms
Have you ever found yourself totally confused about a certain life insurance term? You're not alone, we all have at one time or another. Well, here is a quick guide in understanding many of the common life insurance terms.
Accelerated Benefits
This insurance term is a provision in a life insurance policy allows someone diagnosed with a terminal illness to receive part of their death benefit early. It can also apply to someone who is permanently restricted to living in a nursing home.
Convertible Term Life Insurance
A convertible term life insurance policy allows you to convert to a different type of life insurance policy, such as whole life, without having to medically qualify.
Decreasing Term Life Insurance
A decreasing term life policy decreases by a set amount each year for the duration of the policy period.
Evidence Of Insurability
The medical information about you that a life insurance company uses to determine if you qualify for life insurance. This can also include other information about you such as financial and credit information.
Face Amount
This is the total amount of life insurance that will be paid upon the death of the insured to the beneficiary.
Grace Period
This insurance term describes the period of time after the due date for the premium on the policy that it can be paid without penalty. The standard grace period is 30 days, but each company may have different conditions.
Guaranteed Insurability
This is a life insurance option that allows the insured policyholder to buy additional amounts of life insurance in the future without having to medically qualify.
Insured
This is the person who is covered by the life insurance policy
Lapse
The insurance term that describes the discontinuance of the life insurance policy from not paying the required premium.
Level Term Life Insurance
This is a fixed amount of term life insurance that remains constant throughout the life of the policy.
Loan Value
The total amount that can be borrowed against the the life insurance policy.
Mortality Table
A table showing the statistical death rate for every age.
Paid Up Insurance
This life insurance term indicates a policy that is completely paid off with no further premiums due.
Premium
The cost for the life insurance policy. This may be on a monthly, quarterly, semi-annual, or yearly basis.
Rated Up Policy
A life insurance policy that is issued with a higher than normal premium due to the increased risk involved from the insureds health, hobbies, or employment category.
Reinstatement
Restoring a life insurance policy that was previously lapsed.
Settlement Option
The options given to the beneficiary in deciding how they wish to have the policy benefits paid out.
Surrender
This life insurance term is used when someone voluntarily cancels their policy for the cash value.
Term Life Insurance
A life insurance policy that provides coverage for a specified period of time.
Waiver Of Premium
A policy provision that provides a waiver of future premium payments due to the disability of the insured.
