Should You Have Higher Deductibles On Your Coverage?Written by Erick Pace
What is a deductible? A deductible is amount you pay before your insurance carrier pays any claim. Insurance companies offer deductibles on certain coverage in insurance policies as a method of sharing risk with people they insure. Insurers believe that if you, insured, share some of risk you will likely be more careful and try to minimize possibility of a claim. Since you, insured, pay your share before company is liable for their share, smaller potential claims are often avoided. What is right deductible to carry? It depends not only on particular coverage but further on your willingness and ability to pay specified amount in event of a claim. In other words, select a deductible based on your tolerance for risk. Your agent should be able to help you choose a deductible that is right for you. Often, decision is an easy one as insurers may only offer a few choices in deductible for a specific coverage. Typically, which type of coverage offers a deductible? The most common type of coverage with a deductible is physical damage (also known as comprehensive and collision). This is coverage for your vehicle itself. For damage caused whether or not at fault. In many cases if you have borrowed money to purchase your vehicle through a bank or credit union, lien holder will require that you carry this coverage. This coverage is usually required in event any damage occurs while you are still paying for vehicle. Typical physical damage deductibles are $250, $500, and $1000. Higher deductibles will reduce cost of your insurance by lowering your premiums. When evaluating higher deductibles, it is a good idea to consider carefully your circumstances. Ask your insurance provider for quotes for various deductibles, and analyze them carefully before making a decision. The higher deductible is on a specific coverage, lower premium for that coverage. This is a great way to save on total cost of your policy. For example, increasing your deductible from $250 to $500 could reduce physical damage portion of your policy from 15% to 30% depending on your insurance carrier.
| | Volvo Electric Powered Concept Sports Car and Volvo Replacement PartsWritten by Jenny McLane
While major U.S. automakers are focusing on hybrid and fuel cell vehicles, Volvo took a different route, unveiling a sports car powered entirely with lithium-ion batteries. Volvo's 3CC concept car, won "Best Design" and five Gold Standards at recent Michelin Challenge Bibendum environmental competition in Shanghai, China."Not only does 3CC combine classic Volvo styling cues with exotic gull-wing doors and a tapered, 2+1 seating configuration, but it does so with a highly advanced lithium-ion battery electric drive train. That's a step apart from crowd, which these days is largely focused on hybrid and fuel cell concepts," says Ron Cogan, editor and publisher of Green Car Journal. "Just as earlier ECC forwarded new thought in hybrid propulsion with its high-speed turbine-generator design," adds Cogan, "today's lithium-ion 3CC innovates with its thousands of smallish laptop computer-style batteries, which power this zero emission vehicle to impressive levels of efficiency and performance." Advanced research into sustainable mobility and Volvo engineers have placed particular focus on conditions regulating safety in small cars and their ability to handle incoming forces in a frontal collision. The unique aerodynamic styling of Volvo's 3CC concept car allows room for a third seat in back. The unique ducktail design creates room for a third seat in back, while batteries are sandwiched into floor panels. The 3CC concept car features an 80-kilowatt motor that delivers up to 107 horsepower, it has a potential driving range of 300 km (approx 180 miles) 3CC has a top speed of over 135 km per hour. The carbon-fiber body is mounted on a steel space frame and composite floor panels, giving lightweight vehicle ability to leap to 60 miles per hour in less than 10 seconds. Volvo says 3CC can travel 180 miles on one charge under ideal driving conditions
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