Car Insurance News

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Do you have a classic car? If you have then you are surely well aware of the pride and happiness of having such a beautiful car. For many it is a thing to be envy of as the classic cars are quite expensive and attractive in look. That is why the risk of keeping it is also quite a lot. You never know when you have to face problems like theft or breakage of your car. To cope up with such problems get the classic car insurance that is implemented especially for these cars.

This insurance policy will allow you to insure your car based on its true value rather than stated value. You may find this insurance to be a bit costly. But you should remember this thing too that something costly can only safeguard your expensive car and in comparison to the value of your car, this is nothing.

In this car insurance policy you will not have to pay high premiums and the guidelines and procedures are quite flexible. Different types of coverage are being offered by these insurances. In this context, the actual cash value, state value and agreed value can be mentioned. The actual value gives you the book value of the car on a claim; state value allows you to state the value of the vehicle for coverage. In agreed value all your money will be back in the event of a total loss.

CNinsure, an independent brokerage company and insurance agency located in China, will be establishing a joint venture with Shandong Xin Guang Yuan Automobile Club Co, Ltd. setting up Fanhua-Xin GuangYuan Insurance Agency Co., Ltd. in Shandong Province. The said project is expected to take effect by the second quarter of 2008 after finalizing all the transactions conditions needed. The joint venture will focus on auto insurance distribution. 51% of the new insurance company will be owned by CNinsure and the remaining 49% will be owned by Shangdong Xin Guang Yuan. The combination of both companies which were both leaders in their industries is sure to be a hit.

Defaqto is a research company and is launching a car insurance comparison tool online. The tool is called Defaqto Compare and their study shows that it will help to prevent the common commercial prejudice and it will definitely provide customers the overview of the different levels of coverage being offered. The website is ‘find.co.uk’ and you can avail of the services for free. Many car insurance sites are said to being biased. Allegedly they sell customers to the highest bidder or those insurance companies they have a tie-up even if those insurance companies do not actually offer the cheapest coverage.