Insurance Around the Globe
The distribution of motorized vehicles around the globe is increasing each day. In fact, more people are buying cars right now as you are reading this. A car has become one of the necessities of life today. You need them to get to places, even for a simple meal. Ever since the increase of distribution of motorized vehicles, motor insurance has become a necessity as well for people who owns a vehicle. Motor insurance, or auto insurance, or car insurance, is insurance purchased for motorized vehicles, mainly used to provide protection against the loss resulted from traffic accidents and it also protects against the liability that could be in result of the accident.
Many different types of auto insurance exist around the globe. The insurance companies offer similar coverage around the globe but the policies differs from each country. It difference is caused by each country's government and their policy. In most countries, it is compulsory to have motor insurance before using or even keeping the motor vehicle in the garage. Though it seems like the companies or the government is harassing the customers or their citizens, it has been proven that the overall accident cost is significantly reduced.
In the southern parts of Australia, the Third Party Personal motor insurance from the State Government Insurance Corporation is included in the license registration fee for people over the age of 16. In Victoria, the Third Party Personal motor insurance is similarly included, through a levy, in the vehicle registration fee by the Transport Accident Commission. Though this seems comfortable and fair to most people because they get what they pay for, it might get some people complaining that they are paying for what they do not need, kind of like the idea of universal health plan.
In some Canadian provinces, including British Columbia, and Quebec, a public auto insurance system is being used while the rest of the country is using privately owned motor insurance. Motor insurance is required in all the provinces in Canada, but each province's government determines which benefit or policy is the minimum coverage requirement to buy, and what options should be available for those who want more coverage. The most typical coverage required is not against the loss of or damage to the driver's own vehicle, but against the third party that might have been affected by the driver. In South Africa, a percentage of the money from the petrol in the Road Accidents Fund is allocated towards compensating third parties in accidents. Public insurance might be the way to go in some people's views, but it has its ups and downs.
In the United States, it is required to have insurance by law except in the state of New Hampshire. Though it is required by the law to have insurance, the drivers must buy a third party motor insurance rather than being offered government owned public insurance. People are starting to recommend the Disneyland model where license plates would be assigned by the insurance company and returned at the end of the contract, but there are some problems to that because it might cause some trouble with the DMV.
With the many different insurance being offered around the globe, people should be able to compare each policy and will eventually be narrowed down to the ideal insurance policy. But till then, choose your insurance carefully and be safe on the road.
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Fred Jones http://www.low.com/
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