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The Trouble With Vehicle Insurance Policies

Jan 16, 2008
Cars, Bike, trucks, lorries, vans and motorcycles - all of which require insurance to safeguard you from any unpredictable events and covering expenses. Without them, you may have to pay up a hefty fine. Fortunately, vehicle insurance is improving and cheaper insurance are always readily available offering more services.

Even young people can be offered cheap scooter insurance, as more young people are opting towards riding a moped/scooter for travelling, before learning to drive a car. The downside of it all is finding the right one for you. Insurance adverts have become very clever, more gimmicky and they all appear to sound the same offering the same things. Very different from the original purposes of insurance, when insurance meant protecting and preventing from crises.

Brief History of Insurance

Even looking for simple cheap scooter insurance requires in depth research and understanding of the users requirements before they apply for the insurance policy. Insurance is something that has been in progress for many years. Human society function on two types of economies, the first being financial (market, money and financial instrument) and the second being non-financial or non-money economy (without money, market etc).

The second economical principle is an ancient practise, whereby people help each other in times of crisis and are guaranteed help if they need it should a crisis occur for them. Money economy is the more common modern principle that we live by. Financial insurance became more of a common practise during the - mid 17th and 18th century, particularly focussing on building insurance against fire hazards.

The insurance policies were sparked after the devastations left by the Great Fire of London in 1666. Nicholas Barbon established the first Fire Insurance Company in England, for the sole purpose of insuring buildings from fire. In 1680 his office formed the first London fire Brigade. Benjamin Franklin later founded the first fire insurance company that contributed towards fire prevention with the exception of contributing towards buildings that had a higher risk of fire e.g. wooden houses.

Modern Insurance Practises

Today vehicle insurances are the most commonly used form of insurance. For young people, the most common type of transport they begin with for travelling independence are scooters. This is a great way for young people to introduce themselves to vehicle insurance and gain responsibility in maintaining their vehicle. Though when looking for cheap scooter insurance, one should know that the policies are almost the same as a normal motorcycle insurance policy, excluding insurance on added/customized parts to the scooter/moped and vary in prices.

Car insurance are widely advertised in the UK alone. Big branded insurance companies offer courtesy cars, whilst the previous car is in repair. Other insurance policies offer coverage for medical expenses, third party cover, legal liabilities, and damage to the vehicle, breakdown coverage and even car towing cover. Certain parts of America will not permit cars on the roads unless the drivers have applied for insurance. The best way to find the right insurance policy is to compare prices, terms and conditions, gain advice from experienced drivers or for first time drivers to join onto a third party insurance to reduce costs.

Insurance policies are far more complicated than what they were when they were first introduced. Many vehicle insurance companies require details of the make of your vehicle, your age, past driving records, age of your vehicle etc. Not to mention premium charges, excess payments, legal costs etc. No matter how different insurance appears to be now, it still maintains the policy to cover costs, whilst staying strong in the mainframe of the financial economic sphere.
About the Author
Anna Stenning is an expert on cheap scooter insurance and understands the difficulties when shopping aorund for the right one. For more on insurance click on http://www.insureyourbike.com/
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