Car 4 family

A family Car

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A family car is a car classification used in Europe to describe normally-sized cars. The name refers to the fact that these cars are suitable for a family to go shopping or on vacations.

Most family cars are hatchbacks or saloons, although there are MPVs, estates and cabriolets with the same structure as with the other body style. The term covers two types of family cars.

Small family cars

A Ford Focus, classified as a small family car.
Current small family cars are between 4.20 m and 4.35 m long if they are hatchbacks, or between 4.40 m and 4.55 m if they are saloon or estate models. Since the 1990s there have been multi-purpose vehicle based on them, called compact MPVs. Popular small family cars are the Ford Focus, Opel Astra, Peugeot 307, Renault Mégane and Volkswagen Golf.

In North America, which uses a different classification system, cars of this size are generally referred to as compact cars, and the term "family car" is almost never used to describe a vehicle in this class.

Large family cars

A Ford Mondeo, classified as a large family car.
Large family cars were usually around 4.50 m in length by the early 1990s, but are now shifting to 4.70 m or more in length. Examples of large family cars include the Ford Mondeo, Opel Vectra, Renault Laguna, and the Volkswagen Passat.

Equivalently sized cars in North America are usually called mid-size cars; the term "family car" is fairly often used to refer to a vehicle in this class. Examples include the Ford Fusion, Chevrolet Malibu and the Buick LaCrosse.

Casualty insurance

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Casualty insurance policies are written to cover losses that are the direct result of an unforeseen accident(s).

It may include Auto liability insurance for car accidents, Marine insurance for shipwrecks or losses at sea, and etc.

Life, health and property insurance are typically excluded from the definition.

Segments
It also includes other insurance converages such as:

liability insurance

political risk insurance

terrorism insurance

fidelity and surety bonds.

earthquake

Collector Vehicle Insurance

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Collector vehicle insurance properly insures the investment that car buffs have made in their vehicles. Owners of collector vehicles often assume – incorrectly - that the only insurance option for their classic is to put it on their family auto policy.

However, collector vehicle insurance is much more affordable than standard auto insurance and provides broader coverage.Most collector vehicle insurance companies have some criteria that must be met in order to qualify for their programs.

For example, many companies have a driver’s age restrictions, mileage limitations, garaging requirements and vehicle age qualifications.
A collector vehicle insurance policy can vary greatly in coverage from the standard auto policy.

Most standard auto policies insure the vehicle for its current value, minus depreciation. This means that as the age and usage of the car increases, the value decreases. In contrast, collector vehicles, if well-maintained, increase in value over time. This is because they are not used as often or for the same purposes as a car that is driven for everyday use and their owners truly baby them.

To provide appropriate coverage for this situation, collector vehicle insurance providers typically offer Agreed Value Coverage, which basically means that the insured and insurer agree upon the value of the vehicle up front. This type of vehicle valuation will offer the full market value for the collector vehicle as stated on the policy and factor appreciation into the value at the time of loss. Some carriers will also offer low or no deductibles for comprehensive and collision coverage and often provide coverage for spare parts that are not on or in the vehicle. You won’t find that kind of coverage on your family auto policy.
References
Bergan, Laura "Everything old (or hot, modified, exotic, muscle, etc.) is valuable again" Insurance Journal, 2006-11-6. Retrieved on January 15, 2007.

Useful articles

2007-03-11T08:23:00.001-07:00

A family Car

List of Cars in India- A-H

List of Cars in India-L-T

List of Cars in India-SUVs

Auto insurance risk selection

Patented risk selection systems

Casualty insurance

Collector Vehicle Insurance

References

Useful Links

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