Insurance Management

Presenter: Hassam Patoli

Auto-Mobile Insurance
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Vehicle Insurance
Jurisdictions

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Deductible
Credit Rating

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Commercial Auto Insurance

Vehicle Insurance

It is insurance purchased for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise there from. The specific terms of vehicle insurance vary with legal regulations in each region.

Jurisdiction

In many jurisdictions it is compulsory to have vehicle insurance before using or keeping a motor vehicle on public roads.

Most jurisdictions relate insurance to both the car and the driver, however the degree of each varies greatly.

Jurisdiction

Vehicle insurance can cover some or all of the following items: The insured party (medical payments) The insured vehicle (physical damage) Third parties (car and people, property damage and bodily injury) Third party, fire and theft

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Deductible

An excess payment, also known as a deductible, is a fixed contribution that must be paid each time a car is repaired with the charges billed to an automotive insurance policy. Normally this payment is made directly to the accident repair "garage" (the term "garage" refers to an establishment where vehicles are serviced and repaired) when the owner collects the car.

Deductible

If one's car is declared to be a "write off" (or "totaled"), then the insurance company will deduct the excess agreed on the policy from the settlement payment it makes to the owner. A compulsory excess is the minimum excess payment the insurer will accept on the insurance policy. Minimum excesses vary according to the personal details, driving record and the insurance company.

Credit Rating

Using credit ratings of the policy holders to determine risk. Drivers with good credit scores get lower insurance premiums, as it is believed that they are more financially stable, more responsible and have the financial means to better maintain their vehicles.

Credit Rating

Those with lower credit scores can have their premiums raised or insurance canceled outright.

It has been shown that good drivers with spotty credit records could be charged higher premiums than bad drivers with good credit records.

Commercial Auto Insurance

Business auto insurance allows you to move your business forward. Whether you use vehicles to provide mobility for your employees, equipment or products, you cannot operate without comprehensive commercial auto insurance.

Nationwide understands that road conditions, weather and other drivers are out of your control.

Commercial Auto Insurance

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A sudden traffic shift causes you to lose control of your vehicle Hail or vandalism damages your car An uninsured driver hits your vehicle Its important to get commercial vehicle insurance coverage that fits your business to protect the vehicles of business use.

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