Tag: insurance

How to Get the Most from Your Horsebox Insurance

Determining the type of horsebox insurance you require can be quite daunting. Fortunately, you will learn everything you need before signing the insurance policy agreement. You should note that it is a legal requirement to buy horsebox insurance.

Thus, it is necessary to choose the right one. This is because if the insurance policy you choose is invalid, your claims may not be honored. Thus, you need to check the policy documents to ensure you purchase the right policy that has all aspects of the cover you want.

a horseboxNowadays, there is a lot of information that can help. In addition, there are many insurance brokers out there providing this particular type of policy. Also, there are many comparison websites. When you purchase the insurance, ensure you are clear on what you need and the category of the driver. Remember that any breach of regulations can render your insurance invalid. The following are some tips to follow.

Do Not Cut Corners

The right deal is not always the cheapest. You should not try to cut corners since all policies are not the same. Ensure you get the best cover possible.

Do Not Invalidate Your Policy

Certain things can invalidate your horsebox insurance policy. For instance, ensure you are qualified to drive a horsebox or tow a trailer. Moreover, there are certain regulations as far as the combined weight of the trailer and weight of the vehicle are concerned. If you do not have an appropriate driving license or the vehicle is overweight, the insurance policy you have is invalid. You can easily check the requirements of the policy online.

Be Honest

It is advisable to honest with the insurance company. Tell them what you want and the circumstances you are in. Remember that you can invalidate your insurance policy if you provide false information. This does not mean the price is fixed. There is always a room for price negotiation. Being honest can give you peace of mind when making a claim.

Check Out the Extras

Certain policies include roadside assistance. You will need it if your horsebox breaks down. They can also provide you with emergency stabling and alternative transport. To get the best deal, you should check out what the policy offers.

Be Prepared

You should be ready to prevent unnecessary breakdowns or accidents. This means that you should do routine checks on the vehicle before taking it to the road. For instance, winter can cause a lot of problems that you should know. Also, you should check the water and fuel lines for leaks, brakes, and batteries. Also, you should ensure the tire pressure is sufficient.


brown horseYou should be mindful where you park the vehicle. This means that your yard should have adequate security for trailers and boxes. Ensure you have a locked gate that can deter thieves. When you are not near your home, park where there is adequate lighting and plenty of stewards.

Stick to Specialists

It is advisable to find a specialist insurance company rather than going to a general insurance policy provider. Such companies understand the problems you face. They can even flag up issues you have not considered.…

How to Collect Diminished Value

Diminished value in insurance context refers to the car’s loss of resale value after an accident or damage. Even a perfectly repaired vehicle can still lose value. This is because potential buyers want a new vehicle for the one that was repaired and damaged previously. It does not matter whether you are entitled to recover diminished value of the vehicle. Remember that some states treat recovery differently as compared to others. If you want to collect a diminished value, you should submit a claim to your insurance company. If they do not pay the claim, you can sue them in a court of law.

Learning the basics

car accident 5rfThe major types of diminished value are three: immediate diminished value, inherent diminished value, and repair-related diminished value. Immediate is the difference between the resale value of the vehicle before the accident and its resale value after the accident. However, this valuation is not important as you will need to repair your car at the expense of the insurance company before you sell it. The type of valuation you are likely to use is inherent diminished value. This is the difference between the resale value of your car before an accident after repairs. On the other hand, repair-related diminished value originates from loss of value as result of faulty or incomplete repair work.

Filing an insurance claim

After vehicle repair, an appraiser will compare the value of your car to the original value before the accident. Thus, the car must be repaired before being appraised for Diminished Value Claim. Ensure you agree with the insurance company as to where you will take the vehicle for repairs. If the repairs are unsatisfactory, you can file the first-party claim for poor repairs.

Review your insurance policy

insurance car policy t5aIf the vehicle is not well repaired, before you file any claim; ensure you thoroughly review your insurance policy. Remember that policy is a contract you have with the insurance company. Therefore, it needs to state how the insurance policy covers the repair-related diminished value claims. You need to contact your insurer with both post-accident repair and pre-accident values. You should then ask for compensation for diminished value of your car. Usually, insurance companies resist paying this amount. Therefore, you need to be patient as you sue them in court. Although it may take time, it is worthwhile as you can get a fair compensation.…