Spinning the web

Posts Tagged ‘free car insurance quotes’

The sum insured is another important concept which all the car owners must understand as soon as they get the free car insurance quotes from the insurance companies. The value that is determined for the car by the car insurance quotes companies as the value that will be payable at the end of the car insurance quotes period is called as  the sum assured. The sum assured is a fixed value which is determined  for the car. It is also referred to as the declared value of the insured. The declared value of the insured is usally calculated based on the selling price listed and which has been determined by the manufacturer. The accessories listed price is also taken into account. The declared value of the insured is arrived at by the insurance company after deducting deprecation for each year.

The rate for depreciation is as per the schedule. The sum insured is an important tool in any insurance policy, number of other factors like the premium, the policy term etc is dependent on the sum insured as determined by the insurance company. So proper determinations and calculation of the sum insured is important from the insurance company point of view also. The car insurance quotes given by the insurance companies give the sum insured value also.