First, let’s look at why the MIB was set up. Its main purpose is to handle motor claims in cases where (1) the negligent driver cannot be traced/located, (2) the negligent driver possess an invalid motor car insurance policy, or (3) the negligent driver is not covered by any auto insurance at all. Under the [...]
Excess is included in a private motor insurance to deter motorists from making small claims. Excess is the initial amount of any claim that the auto insurer will not pay. In other words, the car owner has to bear this cost. For example, if the cost of your claims amount to $2,000 and the deductible [...]
Why is it important to know how you’re charged for your motor car insurance? Because by knowing how you’re charged, you can somewhat get the best premium not only by comparing quotes, but also by influencing the factors that determines your auto (car or motorcycle) insurance pricing. Insurers charge different premiums according to the risk [...]