Car Accident Insurance: A Bill of Liability

Car accident often leaves the victims with an almost empty pocket, and it becomes even more catastrophic when it starts to inflict immeasurable “internal sufferings”. No one knows how the victims are trying to recover both financially and psychologically; contrariwise, the only certain about the case is their hope to be justly compensated.

5 Ways to Wreck Your Car Insurance Claims

1. Write a Long Individual Statement

There are two forms you need to fill when you’ve been in an accident. You should have a Singapore Accident Statement in your car, which contains an Accident Statement and an Individual Statement. That’s right, this is Singapore, where we care more about your statement than the loose flaps of skin hanging off your face.
Accident Statement -
This is the yellow-blue (and soon to be splotched with red) form that needs to be signed by both drivers. This isn’t an admission of liability, it’s just used to establish the damage. Nothing to worry about.
Individual Statement -
This is the one you need to be careful with. It’s the white form, which requires your signature only. Before you delve into a 30 chapter novel complete with movie rights, know that this where most motorists slip up.
Write an explanation that’s too detailed, and you may write something damaging to yourself. In fact, it’s been shown that the longer the statement, the easier it usually is to find fault with the driver.

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What is auto insurance?

What is auto insurance?

Auto insurance is protection. When you enter into a contract with an insurance company, they agree to protect you from financial losses resulting from an accident, in exchange for your payment of a premium.
Your policy will define what losses are covered, and the coverage limits. Auto insurance provides coverage for property, medical expenses, and liability.
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Property coverage pays if your vehicle is damaged or stolen. Medical coverage pays for treatment of and rehabilitation for injuries. It may also cover lost wages and funeral expenses. Liability coverage pays if you are at fault in an accident that results in property damage or personal injury.

What is Death insurance?

Death insurance is more commonly referred to as life insurance. It is insurance that provides a cash benefit to survivors upon the death of the insured person. Choosing life insurance can be confusing, as there are many different types and features available. Death insurance can be used for whatever purposes the beneficiary sees fit.

Significance

Surviving spouses and children of adults who die without any kind of life insurance can be hit hard by both the costs of final expenses and the loss of income. According to JD Powers and Associates, studies indicate that fully 40 percent of the adult population of the U.S. has absolutely no life insurance. Of those who are insured, it is estimated that more than 50 million have policies that are inadequate, and which force the surviving spouse to make drastic lifestyle changes to stay current with the family's financial obligations. This can force the family to change residences, sell possessions or switch jobs.