Generally the type of vehicle you purchase, the use of the vehicle (e.g. if the vehicle is used for business and for routine daily commute), type of coverage required, your age and the age of other drivers, your occupation, your driving experience (how long you have been driving) and your driving record.
Yes. The No Claims Discount you received was a reward for not claiming on your insurance policy. Once you claim, your discount will be reduced and this causes an increase in your premium.
The excess, which is called also a deductible, is the amount you are responsible for when you claim on the policy. It is the amount that the policy does not cover and you must pay before Vinsure becomes responsible for payment under the policy. For example, if your claim is for $5,000 and your excess is $1,000, you pay $1,000 and Vinsure pays $4,000.
Our excesses are compulsory. You will not be able to choose your excess.
We recommend that you have your house valued by an appraiser and use the value given. Since it is impossible to predict today what the exact cost will be to replace your house in the future, it’s important to have enough coverage to account for unforeseen circumstances. We suggest that you review your insurance coverage annually.
“Market Value” is the value established by the amount a willing buyer pays for property from a willing seller. “Replacement cost” is the amount needed to replace your damage or destroyed property. In the case of house insurance, it is the cost of rebuilding your home or replacing your damaged property to the condition it was before your loss. The replacement cost of a home is NOT the market value of the home, its purchase price or the outstanding amount of any mortgage loan. It does not include the value of the land, but is the cost of rebuilding your home. Routine maintenance does not increase the replacement cost.
If your building, contents, inventory, etc. is insured for less than its full replacement value and there is a claim for partial loss, you will be responsible for the amount that you have chosen not to insure. For example, if you insured only 75% of the value, you will receive payment of only 75% of the loss or damage sustained.
We prefer if you report all incidents and accidents within 24 hours of its occurrence to allow us to investigate properly. If you are unable to do so, report it as soon as possible. Two weeks or two months later is not considered as soon as possible.
Any force of nature which is beyond human control or influence is considered an act of God. How this affects your policy depends on what type of coverage you have.
You will be covered if there is someone living in your house during this period. If, however, you are the only occupant of the house and during your absence you do not engage the services of a caretaker who visits the premises occasionally, your loss or damage will not be covered. Our houseowner policy does not cover any loss or damage to the house if it is left unattended for more than 40 consecutive days.
It depends on the coverage you have bought. Please check with the company to determine if your policy includes this cover.
When you choose to insure an interest for a sum less than its replacement value you are considered to be uninsured.