QUESTIONS YOUR SHOULD ASK YOUR CAR INSURENCE AGENT

Availability of toll Free Helpline	Many car insurence companies offer a 24X7 helpline that offers complete information about the car insurence policy.
Claims Reporting Procedure	It is crucial to understand thoroughly about the claims reporting procedure and the facilities offered by the company. The executive should guide you through the whole process and also help in identifying the nearest location where you can get assistance.
Claim Settlement Period	Speedier claims settlement has become an important feature in choice of an insurence company. To facilitate this, some insurence companies ensure that once all the documentation regarding the accident are submitted, the claim will be settled within seven days or less than that.
Cashless Claim Settlement at Network Dealers	Insurance companies have tie ups with garages and vehicle service points called Network Garages where you may avail cashless transaction facility subject to deductibles and voluntary payment. These may differ with the brand of your car.
Warranty on Accident Repair	A few insurence companies’ gives you warranty on accident repair facility which offers you warranty for a specific period on the repairs done after the accident. The warranty is applicable if the repair work of the vehicle has been done at the listed garages or service centers.

Monthly car insurence for young drivers

Cheap car insurence for young drivers is rarely possible. Only a few companies actually provide young driver car insurence. For monthly car insurence for young drivers the premiums are so much higher than most other car insurence policies because of the fact that young drivers more likely to make a claim against their car insurence. Some companies do offer competitive rates though, and allow young drivers to build up their no claims bonuses quickly. Young Drivers are categorized as a very high risk group by insurance providers – particularly males. The very simple reason behind this is, they are likely to have less driving experience which makes it more prone to accidents. Young drivers are more likely to crash and get into accidents therefore increasing their insurance premiums by a substantial amount.

There are a few things you can do to find out the best car insurence policy for young drivers and get maximum benefit out of your car insurence policy:

• Choose your car sensibly

By making sure your car choice is sensible in terms of speed and size, you can save money on your insurance. Some cars are less expensive to insure than others. The more expensive a car is to repair and maintain, the higher the car insurence on it will be. Before purchasing a car, consider how much it will cost to get the car insurence. A sports car for example, while it looks fun and exciting, will cost far more in car insurence than a car that is a bit more conservative.

•  When it comes to young drivers’ car insurence, safety is another big concern. Anti-theft devices, air bags, and other safety features often get insurance discounts because they keep the driver safer and reduce the chance of the car getting stolen, making it less likely that a claim will occur.

• When choosing car insurence for your car, it may not be that the cheapest cover is the best, or even that third party is the least expensive. Look round for more than one quote before buying car insurence, search different companies to get a number of car insurence quotes you can compare.

• Many companies recommend paying off your car insurence premiums in monthly instalments which seems an easier way to manage your money. However, some companies charge extra to do this, so be aware of this and decide wisely.

• The monthly premium payments on young drivers car insurence can be reduced by increasing the deductible amount. Most car insurence companies also have no-claims bonuses. This means that if no claim is filed on car damages within a set period of time, the premium will decrease. While this takes a little time to judge from the insurance company’s point of view, it is a great benefit for safe young drivers.

• Enrolling in a defensive driving course within one year of passing the driver’s test is a good idea for any new young driver. When a young driver has experience with controlling a variety of situations, insurance companies begin seeing him or her as lower risk and hence cheaper car insurence.

• Car insurence companies for young drivers increase premiums if a car has been modified in expensive ways. Anything that increases the value and performance of a car has the possibility of making the car insurence rate go up. 

Agreed value car insurence

Agreed value is a sum insured that is fixed by agreement between the insurer and the vehicle owner. Agreed value involves the car owner and their insurer agreeing on a specific value for the insured vehicle when the policy is taken out. For old cars the agreed value is generally negotiated based on general industry guidelines. Deciding which approach to take is a personal decision. An insurance policy using an agreed value will likely have higher premiums than one using market value, however non-standard vehicles could benefit from this extra cost. The most important thing to remember is to always read your policy documents and weigh up all the pros and cons, financial or otherwise, of both choices, because only you can decide how to best value your car. Generally cars with custom modifications have potentially had the most to gain from agreed value car insurence option.
When you insure your car comprehensively, its agreed value is set at the beginning of each period of cover. It is based on the fair value given then for your car’s make and model in the motor trades most commonly accepted price handbook. The value doesn’t change for the period of cover. Almost all cars depreciate with age and use, so the agreed value offered each time your policy becomes due for renewal, almost always will be lower than the year before. 

What is the difference between 'Agreed Value' and 'Market Value'?
Agreed value is a sum insured that is fixed by agreement between the insurer and the vehicle owner.
Whereas,
Market Value is the amount of money it would cost to replace your vehicle in your local area with the same make and model at the time of a total loss. We will take into account the condition of your vehicle.

So "Agreed Value Car insurence" or "Market Value Car insurence" for you?
Market value car insurence is a widely recognized car insurence term for what a car would fetch on the open market.
Market value is set by the automobile industry standards and is used to value newer cars.

The agreed value of your car is the agreed-upon amount that has been set between you and the insurer.
Agreed value is used for classic cars, collectible cars, race cars and customized automobiles. If you own one of these types of vehicles agreed value car insurence can be your best friend.
Agreed value car insurence does not depreciate as does market value car insurence. Most insurance companies require that your car must be older than a set number of years such as fifteen or twenty-five in order to qualify for agreed value car insurence but there are some insurers out there that will allow late model car owners the right to buy agreed value car insurence if they have heavily modified and/or customized their vehicles. Most insurers agree that cars covered with agreed value insurance cannot be used for commercial transportation and they also stipulate that you must own at least one other vehicle that you use for daily driving.
With agreed value car insurence, you are guaranteed in writing the amount you will receive if your car is stolen or wrecked. Be sure that you and your agent are at total agreement with one another over the agreed upon value at the time the policy is written. If the market value of your car changes during the policy, the agreed amount can be changed by endorsement.
It is quite easy to determine the actual, true value of your car when buying agreed value car insurence. There are many price guide print publications available and resources online to use. If you own a highly customized car, it could be a bit trickier to set a value so be sure to keep receipts and records for work done on the vehicle. You could hire a professional appraiser to help set the value of your customized vehicle if you and your insurer cannot agree.
Agreed value car insurence is the perfect option if you own a rare car of any kind. Be sure to do a lot of comparison shopping when looking for an appropriate policy because insurance companies vary greatly in regards to stipulations attached to this type of policy.