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Automobile Insurance: Accidents
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Automobile insurance companies exist for the protection of the car owner from the exorbitant costs that can be incurred in the event of an accident, and for the protection of passengers who might be involved. Every state in the United States has passed laws governing the conduct of drivers on its highways and the rules by which an automobile insurance company must offer coverage. When the owner of a vehicle is looking for a agency to provide required coverage, he has many from which to choose. Premium cost is an important factor for most people seeking coverage, but so is the company's response to accidents. While no one plans to have an accident, the consequences of such an occurrence are a major consideration when seeking a provider.
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Automobile insurance is a contract that helps pay for certain types of financial losses or obligations resulting from the use or ownership of an automobile. To obtain this contract (insurance policy), you pay a specified amount of money called a premium. In return for the premium paid, the insurance company agrees to pay certain expenses and legal liabilities depending on the terms of the insurance policy. Having the right insurance coverage may prevent you from suffering a large financial loss in the event of an automobile accident.
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Automobile insurance provides funds to help you repair or replace your automobile if it is damaged or destroyed by an accident, fire, theft, or other mishap. It ... provides protection against liability claims resulting from injury, loss of life, or property damage caused by an accident involving your vehicle. Wachovia Insurance Services offers the following automobile insurance products:
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Automobile insurance rates are not only determined by the amount of cover you opt for, but include many risk factors. Some of these you may have no control over, such as your age, your location and the accident rate in your area. Other factors which you can determine some control over are the type of car you drive, the amount of miles you drive each year, previous claim history and driving history and your credit history.
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The most popular type of automobile insurance fraud is the "staged accident", wherein the victim will be all but forced to hit another car. Most commonly, this occurs on busy side streets and service roads. The first car will drive at a normal speed and wait for another driver to pull up behind him. Then, with no warning, the first driver will slam on his brakes, ensuring that the car in the back will rear-end him. Since rear-end accidents are almost always ruled at the fault of the person in the back, the driver in front can collect on the insurance.
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Automobile insurance rates define the amount a person pays for his or her car insurance in a given payment cycle, either six or twelve months. A monthly payment is made to an insurance company to keep the insurance current. Insurance rates run the gamut from minimal insurance for the protection of a car in the event of an accident to comprehensive coverage, which covers a range of possibilities for an extremely valuable car or for an auto that has a lien from a lending institution still in effect.
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