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So, you've done your research, and you've decided on a company. Before you sign, though, read the policy. In addition to verifying that it contains the coverage you want, there are two clauses that you should look for in the contract:
1. Retain your right to sue.
"Find out if you are giving up your right to go to court and will be forced into arbitration if there is a disagreement [between you and the insurance company]," Heller advised. "You're much better off if you don't give up this right.... It makes it easier for [insurers] to take advantage of you." If you find a clause to this effect, all isn't necessarily lost. "At least in theory, a contract is a mutual agreement, so you should be able to cross out that line in the policy," Heller said. If the company won't agree to the policy sans clause, then you should probably take your business elsewhere.
2. Avoid aftermarket parts requirements.
"If an insurance company has written in the policy that 'new factory', 'like kind and quality', or 'aftermarket parts' [may be used for body shop repairs], ...go on to the next company," Howard said. If you own a relatively new car that you plan to keep for a while, you will probably be much happier if you spend a little more time researching companies on the front end rather than try to fight the company when you have a claim.
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