Some factors that impact your car insurance premiums
Car insurance premiums are linked to the type of car driven. If you’re buying or leasing a new vehicle, check the auto insurance rates before you make your final choice. For example, SUVs, convertibles and performance vehicles typically cost more to insure.
Safety devices on your vehicle can help reduce your car insurance premiums. If you’re buying or leasing a new vehicle, consider getting one with anti-lock brakes, side air bags, automatic seat belts and daytime running lights.
Anti-theft devices on your vehicle, such as an alarm system and global positioning system – so that your automobile can be located if stolen – can help reduce your premiums.
Where you park your vehicle can also impact premiums. If you have access to an indoor garage or locked parking lot – places that decrease the likelihood that your automobile will be stolen – you may qualify for lower car insurance premiums.
The geographic region in which you live may impact your premiums. For example, areas prone to extreme weather – hail, wind storms, hurricanes, etc. – higher traffic patterns or higher risk of theft may have higher auto insurance rates. If you live in an area prone to extreme weather, check whether your insurance policy includes comprehensive coverage on your vehicle to cover potential damage from storms.
Your driving record – tickets, accidents, DWIs/DUIs (driving while intoxicated / driving under the influence citations) – directly affects your insurance premium.
The number of claims you have previously filed impacts your auto insurance costs. Consider not filing claims for smaller events to avoid premium increases.
The cost of your insurance is linked to your policy’s deductible. The deductible is the amount of money that you agree to pay as part of a claim before your insurer pays the remaining amount toward that claim. For example, if your car incurred $1,000 of damage in an accident and your deductible was $250, you would pay the first $250 and your auto insurer would pay the remaining $750. The higher the deductible, the lower the insurance premium.
Dec 14, 2008
Some factors that impact your car insurance premiums
Nov 22, 2008
Insurance: What is Financial Responsibility?
Insurance: What is Financial Responsibility?
In many states it is illegal to drive any motor vehicle without auto insurance or other proof of financial responsibility. It is also illegal for any motor vehicle owner to allow anyone else to drive the owner's vehicle without financial responsibility (FR) proof. To comply with the FR requirements, individuals must maintain car insurance or get a bond. Some states requires the following for auto insurance coverage:
- Bodily Injury Liability Coverage as well as Property Damage Liability Coverage
- A motor vehicle liability insurance policy. Insurance cards are issued by an insurer to the policyholder for each vehicle insured under a vehicle liability insurance policy
- A certificate of proof of financial responsibility
Nov 14, 2008
Auto Insurance: Some Things You Should Know About Repairs
Auto Insurance: Some Things You Should Know About Repairs
The final choice of repair shop is yours. You may want to use a repair shop the company chooses. However, if you choose a different one, be aware you may have to pay the difference if your body shop’s estimate is higher than the insurance company’s, unless the increase can be justified and agreed upon by all parties.
If you choose to put a brand new part on an older car instead of a salvaged or remanufactured part, you may have to pay the difference in cost.
Check your deductible. If the damage to your car is minor, it may be less than your deductible. For example, if your bumper needs to be repaired and is estimated to cost $199, and you have a $250 deductible, you will be responsible for the entire amount. The insurance company will not owe you or the repair shop anything until the cost goes over $250.
If you have a $250 deductible and the repair estimate is $350, you would pay the first $250 and the insurance company would pay the remaining $100.
The insurance company will assign an adjuster to estimate the damage to the vehicle and how much the company will pay to have it fixed. Again, if the damage is determined to be less than your deductible, you will be responsible for all of the repair amount.
Nov 3, 2008
3 types of car insurance all drivers are required to carry in Delaware
3 types of car insurance all drivers are required to carry in Delaware
1. Bodily Injury Protection
($15,000 - $30,000)
If you are responsible for the injury or death of another person and have minimum coverage, your insurance company will pay:
- Up to $15,000 to one person involved in a single accident
- Up to $30,000 to all people involved in a single accident, with no more than $15,000 to any one person
($10,000)
If you are responsible for damages to another person’s property and have minimum coverage, your insurance company will pay:
- Up to $10,000 to a person involved in a single accident
($15,000 - $30,000)
Whether you are responsible for the accident or not, your insurance company will pay for the medical expenses and loss of wages for you and your passengers. If you have minimum coverage, your company will pay:
- Up to $15,000 to any one person involved in a single accident
- Up to $30,000 to all people involved in a single accident, with no more than $15,000 to any one person
Don’t Drive Uninsured
Uninsured drivers are against the law and cost other drivers money in higher insurance premiums. Registered vehicles are randomly checked for coverage and insurance companies will notify the state if coverage is dropped. Driving without insurance can cost you a fine, your license plate or your drivers license.
Oct 21, 2008
Review Your Auto Insurance Policy Before Your Student Goes to College
Review Your Auto Insurance Policy Before Your Student Goes to College
Tips for Parents: It can be an emotional and trying time for parents sending a student to college. Remembering to pack everything they will need while away from home is a challenge ‐ and so is ensuring they have adequate insurance protection.
A significant move away from home can have a big impact on your auto insurance policy. If your student is taking a automobile with them to school, check with your agent about the existing insurance policy. Ask about the rates for the college's city and state before deciding whether to keep your student's car on the family's car insurance policy.
In addition, the insurance company should be notified each semester if the student maintains good grades. Maintaining a certain G.P.A. might make your child eligible for a good student discount.
Jul 24, 2008
High Risk Auto Insurance
High Risk Auto Insurance
by James Robinson
What constitutes a high risk driver?
Demographics
The cold hard facts are that auto insurance companies consider women less of a risk than men, urban dwellers less of a risk than rural folks and adults less of a risk than teen drivers. More specifically when it comes to men, being under the age of 25, definitely means high risk auto insurance.
Credit History
You wouldn't necessarily think that having poor credit would be cause for high risk auto insurance, but sadly it is. Studies have shown that drivers with poor credit are more likely to file a lot of claims. Insurance companies use that data as backup when it comes to charging higher premiums. If you have poor credit, then this might just be good motivation to clean it up a bit.
Driving Record
You knew this one was coming, but did you know that speeding tickets and other road violations could raise your rates as well? It's not just about accidents. Basically, insurance companies require continuous violators to pay for high risk auto insurance. Why? Because statistics show that violators are more likely to be involved in a car accident. As a general rule, watch your speed and adhere to driving laws.
Lack of Coverage
Driving without auto insurance is taboo. If auto insurance companies see that you've been on the road without coverage or that your previous provider canceled your coverage, then you can expect to pay for high risk auto insurance now. Always get your car insured. Doing so will let insurance providers know that you're a responsible driver.
So, how can you improve your status as a high risk driver? Keep in mind that changing your status will take time. Here are some suggestions to avoid high risk auto insurance in the future.
Change Vehicles
If you're looking to save some money, you may want to trade in a newer car for an older one. Mature vehicles cost less to cover. In many cases, insurance providers only require you to have liability insurance.
Shop Around
The Internet is a wonderful tool. Take the time to scout out high risk auto insurance companies in your area. Just doing some research may help you find a company with rates more bearable for your wallet.
Alter Your Behavior
If you have a history of poor credit, accidents and traffic violations, it's time to clean it up. Sure, it will take time, but it is very possible to do. Most insurance companies drop insurance premiums if a driver has had a stellar driving record for at least three to five years. Think about taking a safety driver course. Sometimes insurance companies need to see that you're serious about making a change.
For those with poor credit, make sure you pay your bills on time. Consider debt consolidation to make it easier on yourself. Be frugal and stay within your budget. If insurance companies see you making an effort, they might waive your high risk auto insurance.
Jul 9, 2008
Minnesota Auto Insurance Guide
Minnesota Auto Insurance Guide
by James Robinson
With over 14,000 miles of highway, and magnificent scenery, there's a lot to see and do in Minnesota. But before you hit the roads, you might want to make sure you have the proper MN auto insurance coverage and the cheapest Minnesota auto insurance.
The state of Minnesota is a no-fault auto insurance state. This means that your insurance company will pay for your and your passengers reasonable and necessary injury claims as the result of an accident up to the amount specified on your auto insurance policy.
Under Minnesota state law, you must have bodily injury liability coverage of a minimum of $30,000 per injured person up to a total of $60,000 per accident. If you or another driver under your MN auto insurance policy is found to be at fault in an accident resulting in injury or death you are covered for such things as medical expenses, lost wages, pain and suffering, and legal defense if the drivers listed on your policy are involved in a lawsuit as a result of an accident. In other words, bodily injury coverage pays for damage to a third party.
Minnesota law also requires you to carry a least $10,000 of property damage coverage. If you or a driver listed on your auto insurance policy is found to be at fault in an accident, property damage liability coverage will pay for damage to another person's property, such as a fence, car, or home, and any legal costs associated with that accident.
If you are registering a car in Minnesota you are also required to have personal injury protection, or PIP coverage in an amount no less than $40,000.
Personal injury liability covers your reasonable and necessary expenses if you or your passengers are injured in a car accident. The medical portion of your personal injury protection auto insurance will pay for any medical or surgical treatment, dental and optical treatment, ambulance and nursing services, and necessary medications, medical supplies, and prosthetic devices.
The economic portion of your personal injury protection coverage will pay for lost wages if you or any of your passengers are unable to work because of the accident. It also provides for substitute services for you and/or your passengers. Substitute services is available if you or one of your passengers need help performing household chores or other tasks due to the accident.
If you or another covered person dies from accident related injuries, your personal injury protection coverage will help pay for funeral related expenses.
Minnesota allows you to increase the limits on your auto insurance for medical and economic personal injury by the number of cars you are insuring. This is called PIP stacking.
For example, if you insure two cars and select stacking, your personal injury protection medical limits would increase from $30,000 to $60,000 and your economic limit of $20,000 would increase to $40,000. Your deductible would not be affected if you elect to stack your personal injury protection, but your auto insurance premium would increase.
Minnesota also requires that you carry uninsured/underinsured motorist bodily injury coverage in the minimum amount of $25,000 per person, $50,000 per accident for any bodily injury caused by an uninsured or underinsured driver. The uninsured/underinsured coverage will pay for medical expenses, lost wages, other general damages, and any injuries in a hit-and-run accident. This coverage protects you, other drivers listed on your auto insurance policy, and passengers.
In the state of Minnesota there is a number of optional auto insurance coverage features you might want to consider.
If your car is leased or financed, your lending institution may require that you carry collision coverage. This coverage protects you for repair or replacement costs of your car that has been involved in an accident with another car or object, or has rolled over.
Comprehensive auto insurance while not required in Minnesota will provide you protection for damage not resulting from damage resulting from anything other than a collision such as fire, falling objects, certain natural disasters, and vandalism. Comprehensive must be included on any auto insurance policy that also has collision coverage.
You might want to consider adding rental car reimbursement coverage. In order to obtain rental car reimbursement you must also have collision and comprehensive auto insurance as well. Your rental car coverage will reimburse you for the cost of renting a car if your car is in for repair.
If you have a lot of customized equipment on your car, such as running boards, brush bars, roll bars, undercarriage lighting, fog lights, bed liners, camper shells, trailer hitches, customized wheels, spoilers, suspension, custom paint or decals, etc., you might want to consider obtaining customized equipment coverage to protect your investment.
Some auto insurance companies in Minnesota also offer loan/lease gap insurance coverage. This coverage can only be purchased if you have collision and comprehensive coverage on your car. This coverage protects you if your car gets damaged. You will reimbursed for the difference between the actual cash value or your car at the time of the loss, minus your deductible and the car's salvage value, any greater amount owed on your car at the time of the loss, less any unpaid finance charges, excess mileage or wear and tear charges, or any other expenses associated with the loan or lease, and your car's salvage value.
Jul 3, 2008
Virginia Auto Insurance Guide
Virginia Auto Insurance Guide
by James Robinson
How does one find the cheapest Virginia auto insurance rates? What is the best auto insurance company in Virginia? What are the Virginia minimum auto insurance requirements? These are all basic questions that one must answer if they want to get the best auto insurance coverage in VA. Read on to learn some of the common auto insurance rules in Virginia and find some ways to obtain low cost Virginia auto insurance for you and your family.
Auto insurance in the United States is something that most people now understand. However, there are often questions that are left unanswered to many. Why do some people get to pay lower premiums than other when they are the same age? Why do people with old cars tend to pay lower rates than those with brand new ones? Why do people in towns have to pay more in automobile insurance than do those living in farms or rural areas? All these questions have answers that in some way or another offer an explanation to what the automobile insurance business is all about: "Risk".
Auto insurance consists of a signed deal between a company and an insured in which the auto insurance agency will pay the policy holder in case of an accident in exchange for monthly payments. In other words, the insurance company is covering the insured for the "risk" of driving the roads of the United States. Because some areas have more accidents than others, some cars require less coverage than others, and some vehicles have better safety and theft ratings; premiums in the automobile insurance business tend to change from person to person.
The same can be assumed for each state. While some states have the advantage of not having big cities where accident rates are high, some others have plenty of populated areas that have a high degree of accidents and theft. The state of Virginia is one of those states that falls in the middle in both categories. While is does have some major cities like Richmond, it offers residents peaceful and quiet places in which to live like Williamsburg.
According to the United States Census Bureau the state of Virginia had an estimated population of 7,642,884 for the year 2007 (an increase of 8% since the year 2006) and experts predict that it will continue to grow. The population number didn't seem to matter that much because back in 2003 the state of Virginia was found in the lower end of the spectrum when concerning automobile insurance, since the average premium was that of $752 a month in comparison with the nation's average of $914.
All of the states in this country require drivers to have a minimum coverage before having the privilege of circulating the roads of this great nation. Virginia is no exception and in case of an accident in this state someone must always be found to be at fault. This means that the person found liable for the accident and their insurance company will be the one responsible for paying the accident related expenses. The state mandates what they call a 25/50/20 coverage and it falls in the middle of the pack when compared to those of the other states. What that means is that a person behind the wheel of an automobile in the state of Virginia must have a $25,000 bodily injury per person and $50,000 bodily injury total in case of an accident; and a $20,000 property damage liability coverage also in case of an accident. Keep in mind that these is only the minimum coverage required to drive in this state and that if you wish you can purchase more than these amount from your Virginia automobile insurance company.
The Virginia State law does not mandate a person to have Personal Injury Protection or PIP like the laws in many other states. Personal Injury Protection aids you and the passengers in your vehicle for medical expenses after an automobile accident and it is always good to have it. On the other hand the state does require a person to have the uninsured and underinsured motorist coverage just to prevent this from happening. A driver must have $25,000 per person and $50,000 total for uninsured motorist coverage in order for them to be able to drive in the streets of this state.
Although it sounds like a lot of required coverage that you will need if you are a resident of VA, keep in mind that the average premium is well below the nation's average. Not everyone in the state of Virginia is going to be able to just purchase the minimum coverage that the state mandates. People that are leasing a car or that are still making payments on their vehicles are going to be forced to have collision and comprehensive coverage. This is due to that same "risk" of accidents and theft associated with driving.
However, a person that has to purchase more than the mandated coverage can try to lower their deductible for a lower premium. Lower deductibles result in higher out of pocket expenses for the driver in case of an accident. This means that an automobile insurance company will be paying less when the driver gets in a wreck and because of this the rate of your policy will decrease.
A policy holder can also refuse to purchase or simply drop coverage that they don't necessarily need from their policy. The medical coverage of an automobile insurance policy is a perfect example. If have independent health insurance and you know that the medical part of your policy wont cover anything that the health insurance policy doesn't, then it is time to get rid of the medical part of your auto insurance policy.
The state of Virginia is a pleasant state to live or even to own a vacation home. The state itself is not an expensive one to live in when speaking about automobile insurance. There are many ways in which a resident of this state can save some money when speaking about auto insurance; however, the most important thing to have is the required coverage. Lowering your deductibles and getting rid of excess coverage can help much when it comes to saving you money on your auto insurance. After all this you will find that living in Virginia and driving a vehicle in this state is not as expensive as it seems.
Jun 19, 2008
Rhode Island Auto Insurance
Rhode Island Auto Insurance
by James Robinson
The small size of RI lends itself nicely to offering rural residents the ability to find some very cheap Rhode Island auto insurance rates is one is simply willing to shop around. The reason for these cheap rates is that the population in Rhode Island is approximately 1,067,610 according to the United States Census Bureau; and the state itself unlike others, does not have really big cities. This is a perfect fit for the residents because the lower the number of people in the state, the lower theft rates and car accidents are going to be (which are two of the most important things when it comes to producing the price in a RI auto insurance policy).
Residents of the state should also know that since most of Rhode Island consists of small towns and communities with many rural areas, their prices will be relatively lower in comparison to other places. The state however, like all the other ones in the nation mandates that a person must have automobile insurance before setting foot and actually driving a motor vehicle. But just how much coverage should a person expect to get if they want to transit the roads of Rhode Island?
The Rhode Island Department of Motor Vehicles will not give a license to anyone that does not show proof of having automobile insurance with what the state calls a 25/50/25 coverage. This means that a person expecting to drive in the state of Rhode Island has to have $25,000 for bodily injury liability coverage per person involved in the accident and up to $50,000. The third number simply refers to property damage coverage and a person in this state is required by law to have $25,000 to cover this expenses after an automobile accident.
One thing to note about this state is that it does not have a Personal Injury Protection Coverage (also called PIP). This coverage will take care of your medical expenses or the medical expenses of the passengers in the car you are driving at the time of an accident and it can be vital in saving you money or in helping you avoid being sued by one of your passengers after an injury. Although a lot of people don't see the need for these coverage it is always important to try and get a quote to see how much it really adds to the policy, and if the price does not go up as much and it's affordable then it is always good to have the coverage.
People in Rhode Island paid about $250 more in auto insurance compared to the average rate in the nation. This means that although some people are saving money in this state, some others are paying high rates - the average is driven up quite a bit by those who live in Providence, Warwick, Pawtucket, Cranston, and some of the other relatively larger cities in RI.
In order to save some money those people with high rates can opt to shopping around for a more convenient price. They can do this by simply requesting quotes from their company and other institutions to see which one gives them the advantage when it comes to pricing (although it is important to highlight that not all the cheap policies have the same level of coverage, so you must always shop around).
There are other things however, that Rhode Island residents can do when it comes to trying to find low cost auto insurance. They can try and stick with the minimum coverage (that does not have collision or comprehensive coverage) if they have an older car and money in the savings to fix the vehicle in case of an accident. The lowest rates possible will come when people purchase the minimum coverage.
If you are still making payments on the vehicle or you are leasing the car you will not be able to stick with the minimum requirements. The reason for this is that the company you bough or leased the vehicle from wants a guarantee that you will pay in full, so they make the buyer get collision and comprehensive coverage so that they can be paid back when the vehicle is damaged.
May 30, 2008
Auto Insurance Quotes: How To Save More?
Auto Insurance Quotes: How To Save More?
by Eddy Kong
As more and more people owning cars and all various types of motor vehicles, the need to compare auto insurance quotes and rates are getting more crucial. However, there are tons of people are paying lots more premiums than before.
What is a auto insurance?
Auto insurance is designed to protect you, your family, and your automobile. Auto insurance is now more competitive than ever and the need to compare is imperative. Auto insurance is a policy that protects the car owner and other road users from monetary loss if their vehicles are damaged.
The need to save more is now
You have to start compare cheap auto insurance quotes to find a policy that suits your needs. Besides, comparing different care insurance quotes before you actually get your car insure, you also need to compare multiple auto insurers for the cheapest quote.
By doing that, you get to know different insurers' rates, features and coverage to get the best auto insurance policy for your needs. Get the quotes from each auto insurance company for the one that offers you the best coverage at the most affordable rate.
Different types for different quotes
If you own a normal type car such as a family Holden, Toyota, Ford etc, you can go with your standard auto insurance company such as NRMA, RACQ, RACV, Allianz. There are many factors that affect insurance premiums, only some of which you can control.
You can control the premiums you are paying as more insurance expenses are always headed north on the costs graph, it may be too costly to afford but we can certainly not afford not having it. Compare auto insurance prices and products that are different when purchased directly from Progressive or through agents/brokers. That's the reason why you need to quote multiple quotes from different car insurers.
How to get free auto insurance quotes?
There are free online auto insurance quotes without getting junk mail. There are lots of auto insurance websites that you can get free quotes. It is both quick and easy. Just by entering your ZIP code where your vehicle is garaged, this way I am sure you can get free quotes from various auto insurers. You can save an extra 10% when you buy your auto insurance policy online.
How can a auto insurance policy help you?
Auto insurance protects you against financial loss if you have an accident. Auto insurance protects one of your first investments, your car. It protects you when you cause property damage or bodily injury to someone else when driving your car. Drivers purchase auto insurance to ensure they are financially protected in case they are in an accident. For your information, drivers aged under 50 are 31% more likely to make a claim on their auto insurance than those aged.
In conclusion, it is important and crucial to compare auto insurance quotes and see which insurers can help you. If you take extra time to compare auto insurance quotes, it will definitely save you big in the long term. With the availability of the internet, you will not take much time to get a few quotes to compare. So, by waiting for a while more, you might paying premiums that you should not be paying.
May 16, 2008
5 Tips About Auto Insurance Quotes
5 Tips About Auto Insurance Quotes
by Edward Welch
1. Auto insurance quotes are only quotes. Quotes are not necessarily the real auto insurance prices you will pay in the end. Don’t switch your auto insurance on a whim – after you’ve seen some handsome auto insurance quotes.
2. When seeking accurate auto insurance quotes – make sure you give information as accurate as possible. After all, the quote will only be as good as the information you’re able to offer the insurance company. Many times, the auto insurance quotes will not be valid – depending on the accuracy of the information you’ve submitted.
3. Watch out for fine print that comes with those lovely auto insurance quotes. Fine print is a fact of life – don’t miss an important detail – only to later discover the details after you’ve changed auto insurance companies. I know it’s hard to resist the auto insurance quotes – but don’t be caught off guard.
4. Don’t let auto insurance quotes be the determining factor in choosing an auto insurance company. You might save a few dollars if you’re able to hold the auto insurance company to that wonderful looking insurance quote – but you might spend the difference in aspirin for the additional headaches caused by the cheaper auto insurance company.
5. Last, if it sounds too good to be true – it probably is. This applies to auto insurance quotes as well as many other aspects of life. Do your homework – use the auto insurance quotes as a tool in conjunction with your other research and be sure to ask the company a lot of questions about those auto insurance quotes.
Apr 17, 2008
Auto Insurance For Teenagers
Auto Insurance For Teenagers
by Sydney Heiden
When a teenager turns 16, one of the first things on his mind is getting his drivers license and getting a car. Unfortunately, most teenager drivers do not understand the financial responsibilities that go with owning a car. First is the cost of the car, then the upkeep and maintenance. Then you have to put fuel in eh vehicle. And then, you have to consider insurance.
If a teenager has to make all of these payments themselves, they may not be able to afford a vehicle, much less a new one. So, moms and dads help out and pay some or all of the costs incurred.
For many teenage drivers, the cost of auto insurance is extremely high, almost to the point of not being affordable. But there are several steps you can take to reduce the cost of teenage auto insurance.
Shop around. Check out the rates offered by several different insurance companies. Some companies may offer lower rates for your teens.
Get good grades. Yes, your grade point can make a difference in your insurance rates.
Buy an older car. Even though that older clunky sedan is not as cool as the new sports car, the insurance will be a lot less; you can spend this on gas and pizza. Also, if the car is old enough, it probably does not need full coverage insurance. This can reduce your rates as well.
Attend a driver education class. This will lower insurance rates as well as making your teen a safer driver.
Make sure your teenager is a safe driver. Speeding tickets and accidents really cause the insurance rates to skyrocket. And a DUI may make you teenage driver uninsurable.
Set a curfew. If your teenager is at home, he cannot be out getting into an accident.
Some of these suggestions may not be popular with your teenage driver, but they can drastically lower your insurance rates to the point you can actually afford it.
Apr 7, 2008
Big Lie: Online Car Insurance Is Cheaper
Big Lie: Online Car Insurance Is Cheaper
by Terry Schierer
You have been lied to! Buying your car insurance online is not the cheapest way to buy auto insurance, as a matter of fact it's one of the most expensive ways to buy your auto policy.
The big insurance companies don't want you reading this. They're making a huge bundle selling high priced car insurance online.
The reason they are so successful is because we as a society have come to equate fast with best and this is far from the truth. The big auto insurance companies have done a great job at pushing "fast". If you go to any of their web sites, you will notice "Fast Quote", "Get your insurance now" plastered all over the opening web page.
Nowhere will you see Lowest quote because the lowest quotes can only be given out by the local agents. They are the only ones that have the authority to lower rates.
The online insurance quote sites are nothing more than computer based. What this means is that a computer can only give out what's in it's hard drive, and believe me they don't put a low quote in the hard drive. Just how long do you think it would take for some bright programmer to figure out how to access that low rate? Probably not any longer than it's taking you to read this article.
Can you imagine what would happen to those big insurance companies if everyone on the internet new how to access that low rate. Some "Guru" would be selling a program for all to use in a matter of minutes.
The only way to get that low quote is from a local insurance agent and then only if he knows he's competing against another agent. Call up your local agent and you'll get the same quote as every one else. Local insurance agents are there to make money and they won't give out that low rate unless their forced to.
The only way to get that low rate is through the agent himself, not his secretary or anyone else on his staff. That's the agent profit he's cutting so he's the only one who can cut that rate.
The ideal way to get that low, low quote is too go online, fill out just one form and have it emailed to five or six of the hungriest and sharpest local agents in your area. When they receive your request for a quote they will automatically know that their best competition also received the same quote request.
This puts those local agents in a competitive mode, ready to cut rates and due what ever it takes to get your business.
Apr 3, 2008
Auto Insurance Scams
Auto Insurance Scams
by Aiden Matthew Wilson
When thinking about auto insurance scams, you may be thinking about the large companies that collect your monthly premium and then don't pay out on legitimate claims. However, the majority of auto insurance scams actually come from the person paying for the insurance. Ever wonder why your car insurance quote is as expensive as it is? Below, we will go over a few of the most common car insurance scams:
One example of car insurance scams would be someone conveniently getting into an accident that requires the engine be replaced when it just hit 150,000 miles.
Another would be someone who arranges an auto accident at pretty low speeds, but then scams their insurance company for thousands in medical bills and perhaps even a settlement in civil court because the damage in their back just won't allow them to ever work again.
There have even been reported cases where the person in the accident will tell their auto insurance that several other people were in the car and were also injured. Then the friends will settle for fees as well and give the insurance holder a percentage.
Perhaps the most common auto insurance scam is the person who gets into a smaller accident, and because they want the parts replaced and not repaired, they inflict additional damage after the accident.
The last type of car insurance fraud that we will discuss is the type that comes from the auto repairer. If you've ever wondered why different repair shops will provide drastically different quotes for the price? It's because the money isn't coming out of your pocket, so they are pretty much free to provide whatever price they choose.
There are two different techniques that the car insurance companies use to combat the scams. The first is through the use of deductibles. Because each person knows that at least some of the cost will be coming out of pocket, it insures that you only use the insurance when absolutely necessary. Also, when you use your insurance, you price goes up to be insured and you wont get a cheap car insurance quote for up to 7 years from an accident. The last way they combat fraud is by making it a criminal offense that will put you in jail if caught coming fraud.
Overall, the varieties of different frauds are overwhelming. I find it quite sad that because some people choose to commit crimes such as these, your average person is the one paying higher rates and picking up the tab. It's not fair that we have to pay for the people who abuse the system but other people's fraud is factored into your auto insurance quote.
Mar 11, 2008
Obtaining Auto Insurance After a DUI, DWI
Obtaining Auto Insurance After a DUI, DWI
by Maria Palma
Obtaining auto insurance after you've been charged with a DUI (Driving Under the Influence) can prove to be a challenging task. Most major car insurance companies will not give you coverage and those that will cover you charge an arm and leg for premiums. If you're a first-time DUI offender, this doesn't seem very fair, right? If you're currently insured (In most states you have to be insured), it's possible that your insurance premium may not go up at all. Many insurance companies check your record every few years. However, if or when they do find out, they could raise your rates or even cancel your insurance.
What Companies Look At Before Offering Insurance
There are several factors that come into play in a company's decision to offer you an auto policy. Many insurance companies will look at your previous driving history, of course, and some will even check your credit to see how financially stable you are. They also look at your claims history reporting. All of these variables combine to create an "insurance score", much the same way credit bureaus come up with a credit score.
What Is an SR-22?
An SR-22 is a Department of Motor Vehicles form that provides proof of insurance. This SR-22 is required who have been arrested or convicted for a DUI and want to get a restricted license. It also lets the DMV know that the car insurance company has issued at least a minimum liability coverage for the person filing the form.
Shop Around For Insurance
Make sure to get several quotes from companies before making a decision on purchasing car insurance. Perhaps your DUI lawyer can recommend a few companies that can help you with your SR-22 filing and offer a decent rate.
Mar 6, 2008
Tips To Drive Away With Cheap Auto Insurance
Tips To Drive Away With Cheap Auto Insurance
by Karl Bantleman
Many people will soon have to renew their auto insurance; this is a time when people tend to simply choose the easiest method of renewing. This normally ends up with the customer being no better off than before. These tips will give you a great chance of finding a better deal and could save you time and money.
You will have a better chance of finding cheap car insurance is by shopping around for a better deal every 6 months, this means you can keep on top of any new incentives and reductions that providers offer and if everyone gets into the habit of doing this it will keep the providers on their toes. This is especially important if your circumstances change, for example, if you change job and you have a shorter journey, insurers will offer discounts for shorter mileages so take advantage of them.
Opting for a higher deductible will lower your premium because insurers have assurance that you can pay some of the figure if you have an accident. Paying annually can also save you money on your motor insurance, although this may not be an option for financial reasons, if its possible then do so because there are often charges when paying monthly.
Buying your varying insurance packages together is a good way of reducing the cost of insurance, known as "multi-line insurance"; it can save customers up to 15%. If you have not had an accident in the last 3 to 5 years then make sure you tell your insurer because this will go a long way to acquiring the best priced motor insurance deal. Any extra safety measures that you can add will save you money as well, the safer your car, the lower the insurance.
Feb 12, 2008
Car Auto Insurance: How To Make A Claim
Car Auto Insurance: How To Make A Claim
by Nick Cox
Over the course of your lifetime it's likely that you will be involved in at least one road traffic accident.
Here's a handy guide on making a claim:
- Inform your car insurance company as soon as possible after the accident has occurred. Obtain the name and auto insurance details of all other parties involved and then pass those details on to your insurer. You insurers will deal with all communications with the other affected parties on your behalf.
- If your car has been stolen then report it immediately to the police. They will give you an incident number which you will need to pass to your insurers.
- Be consistent with you account of what happened, as any deviation in your story could potentially jeopardise the outcome of your claim.
- Your car insurance company will tell you where to take your car for repairs. Don't take your car to your local garage hoping that the insurers will cover the costs. Insurance companies normally have approved garages in your area that they use to carry out accident repair work.
- Keep copies of all correspondence linked with your car insurance claim. Try to keep a record of all forms of communications you receive as you may need to refer to these at a later date.
Jan 31, 2008
Car Auto: Insurance in the United States
Car Auto: Insurance in the United States
Coverage Available
The consumer may be protected with different coverage types depending on what coverage the insured purchases.
In the United States, liability insurance covers claims against the policy holder and generally, any other operator of the insured vehicles provided, do not live at the same address as the policy holder, and are not specifically excluded on the policy. In the case of those living at the same address, they must specifically be covered on the policy. Thus it is necessary for example, when a family member comes of driving age they must be added on to the policy. Liability insurance sometimes does not protect the policy holder if they operate any vehicles other than their own. When you drive a vehicle owned by another party, you are covered under that party’s policy. Non-owners policies may be offered that would cover an insured on any vehicle they drive. This coverage is available only to those who do not own their own vehicle and is sometimes required by the government for drivers who have previously been found at fault in an accident.
Generally, liability coverage extends when you rent a car. Comprehensive policies ("full coverage") usually also apply to the rental vehicle, although this should be verified beforehand. Full coverage premiums are based on, among other factors, the value of the insured’s vehicle. This coverage, however, cannot apply to rental cars because the insurance company does not want to assume responsibility for a claim greater than the value of the insured’s vehicle, assuming that a rental car may be worth more than the insured’s vehicle. Most rental car companies offer insurance to cover damage to the rental vehicle. These policies may be unnecessary for many customers as credit card companies, such as Visa and MasterCard, now provide supplemental collision damage coverage to rental cars if the transaction is processed using one of their cards. These benefits are restrictive in terms of the types of vehicles covered.
Liability
Liability coverage provides a fixed dollar amount of coverage for damages that an insured driver becomes legally liable to pay due to an accident or other negligence. For example, if an insured driver drives into a telephone pole and damages the pole, liability coverage pays for the damage to the pole. In this example, the drivers insured may also become liable for other expenses related to damaging the telephone pole, such as loss of service claims (by the telephone company).
Liability coverage is available either as a combined single limit policy, or as a split limit policy.
Combined Single Limit
A combined single limit combines property damage liability coverage and bodily injury coverage under one single combined limit. For example, an insured driver with a combine single liability limit strikes another vehicle and injures the driver and the passenger. Payments for the damages to the other driver's car, as well as payments for injury claims for the driver and passenger, would be paid out under this same coverage.
Split Limits
A split limit liability coverage policy splits the coverages into property damage coverage and bodily injury coverage. In the example given above, payments for the other driver's vehicle would be paid out under property damage coverage, and payments for the injuries would be paid out under bodily injury coverage.
Bodily injury liability coverage is also usually split as well into a maximum payment per person and a maximum payment per accident.
Collision
Collision coverage provides coverage for an insured's vehicle that is involved in an accident, subject to a deductible. This coverage is designed to provide payments to repair the damaged vehicle, or payment of the cash value of the vehicle if it is not repairable. Collision coverage is optional. Collision Damage Waiver (CDW) is the term used by rental car companies for collision coverage.
Comprehensive
Comprehensive coverage provides coverage, subject to a deductible, for an insured's vehicle that is damaged by incidents that are not considered Collisions. For example, fire, theft (or attempted theft), vandalism, weather, or impacts with animals are just some types of Comprehensive losses.
Uninsured (Underinsured Coverage)
Underinsured coverage, also known as UM/UIM, provides coverage if another at-fault party either does not have insurance, or does not have enough insurance. In effect, your insurance company acts as at fault party's insurance company.
In the United States, the definition of an uninsured/underinsured motorist, and corresponding coverages, are set by state laws.
Loss of Use
Loss of Use coverage, also known as rental coverage, provides reimbursement for rental expenses associated with having an insured vehicle repaired due to a covered loss.
Loan (Lease Payoff)
Loan/Lease Payoff coverage, also known as GAP coverage or GAP insurance, was established in the early 1980's to provide protection to consumers based upon buying and market trends.
Due to the sharp decline in value immediately following purchase, there is generally a period in which the amount owed on the car loan exceeds the value of the vehicle, which is called "upside-down" or negative equity. Thus, if the vehicle is damaged beyond economical repair at this point, the owner will still owe potentially thousands of dollars on the loan. The escalating price of cars, longer-term auto loans, and the increasing popularity of leasing gave birth to GAP protection. GAP waivers provide protection for consumers when a "gap" exists between the actual value of their vehicle and the amount of money owed to the bank or leasing company. In many instances, this insurance will also pay the deductible on the primary insurance policy. These policies are often offered at the auto dealership as a comparatively low cost add on that can be put into the car loan which provides coverage for the duration of the loan.
Consumers should be aware that a few states, including New York, require lenders of leased cars to include GAP insurance within the cost of the lease itself. This means that the monthly price quoted by the dealer must include GAP insurance, whether it is delineated or not. Nevertheless, unscrupulous dealers sometimes prey on unsuspecting individuals by offering them GAP insurance at an additional price, on top of the monthly payment, without mentioning the State's requirements.
In addition, some vendors and insurance companies offer what is called "Total Loss Coverage." This is similar to ordinary GAP insurance but differs in that instead of paying off the negative equity on a vehicle that is a total loss, the policy provides a certain amount, usually up to $5000, toward the purchase or lease of a new vehicle. Thus, to some extent the distinction makes no difference, i.e., in either case the owner receives a certain sum of money. However, in choosing which type of policy to purchase, the owner should consider whether, in case of a total loss, it is more advantageous for him or her to have the policy pay off the negative equity or provide a down payment on a new vehicle.
For example, assuming a total loss of a vehicle valued at $15,000, but on which the owner owes $20,000, is the "gap" of $5000. If the owner has traditional GAP coverage, the "gap" will be wiped out and he or she may purchase or lease another vehicle or choose not to. If the owner has "Total Loss Coverage," he or she will have to personally cover the "gap" of $5000, and then receive $5000 toward the purchase or lease of a new vehicle, thereby either reducing monthly payments, in the case of financing or leasing, or the total purchase price in the case of outright purchasing. So the decision on which type of policy to purchase will, in most instances, be informed by whether the owner can pay off the negative equity in case of a total loss and/or whether he or she will definitively purchase a replacement vehicle.
Car Towing Insurance
Car Towing coverage is also known as Roadside Assistance coverage. Traditionally, automobile insurance companies have agreed to only pay for the cost of a tow that is related to an accident that is covered under the automobile policy of insurance. This had left a gap in coverage for tows that are related to mechanical breakdowns, flat tires and gas outages. To fill that void, insurance companies started to offer the Car Towing coverage, which pays for non-accident related tows.
Jan 29, 2008
Car Auto: What To Do If You Have An Accident
Car Auto: What To Do If You Have An Accident
by Karl Bantleman
You hope it never happens but should the unexpected happen and you have an accident, ensure you know the what you need to do to make the claims procedure go as smoothly as possible.
During the process of finding cheap car/auto insurance, one of the choices you will make is the amount of excess. This is important because if you have an accident, your insurer will tell you which garage to go to in order to get your car fixed, where you will have to pay for the excess. If the accident was not your fault, then your insurer will reimburse you.
In the event of an accident, 75% of people will automatically apologise for the crash, even if it wasn't their fault, but if you can avoid this because this means you are liable for the accident and will lose your no-claims discount on your car insurance. However, if you do it is not binding and although the other driver will no doubt point this out, your insurer will check this from your account of events.
One thing to remember is; if you go into the back of somebody's car, you will be held responsible even if you had kept your distance. This is unfortunate as the driver in front may well have been at fault but the majority of insurers will see it as your fault.
Before calling your motor insurance provider, ensure you have all details possible from the other driver as this is vital information that your insurer will need to process the claim. Take down the model, make, registration number and even colour of the car, there are around a million uninsured drivers on British roads and if you are hit by one you will have to pay, but the police may be able to track down the driver.
As long as both drivers are insured and the accident was only minor, the claim could be finalised within a couple of days. Make sure you are insured should the unexpected happen, shop online for the best deals and have piece of mind when you're on the roads.
If you have an accident your motor insurance provider will want to know everything so make sure you have all the details. With car insurance, always double check everything to ensure you can find the best cheap car insurance package for you.
Jan 27, 2008
Car Auto: A Broker Can Find You Good Value Car Insurance
Car Auto: A Broker Can Find You Good Value Car Insurance
by David H Thomson
When it comes to finding good value car insurance a broker can do this much easier than the individual can. A broker has the means to search within the bulk of the motor insurance market place on your behalf and gather together the cheapest quotes possible. Insurance will vary depending on your particular circumstances and among the different providers, so getting as many quotes as possible will lead to making the best savings.
The type of car insurance you need will reflect the cost of a policy. Fully comprehensive is the dearest option for insuring your car. If you buy a brand new car then you will have no other option other to take this in order top protect your investment fully.
Third party fire and theft cover is usually taken by the younger driver as it costs less than fully comprehensive. It is also suitable where you have an older car that is not worth a lot.
There is also third party only to consider which is the most basic form of car insurance.
Once a broker has found you a selection of quotes then it is down to the individual to make sure they compare the terms of the cover. This is where you can find such as what is included in the policy and is not. The contents of what the motor insurance cover offers can vary considerably. For example, you can find that some form of breakdown cover can be included for the same cost as a policy that does not, so checking the terms is beneficial in the long run.
Look out for additional benefits such as a free courtesy car if yours is involved in an a accident and a legal assistance helpline. These are all useful to have.
To help reduce the cost of car insurance you can add security features to your car such as alarms, immobilizers, steering locks or tracking devices. By doing so your car will be seen as being harder to steal by the insurer and so reduces the risk of theft. The same goes when it comes to where you choose to park your car; parking it in a garage is safer than leaving it on the side of the street.
There are motor insurance providers who will offer cheaper cover to women drivers and discounted car insurance for younger or non-experienced drivers and your broker will know where to go to get you the best quote for your needs.
Younger drivers who have not got experience on the road and have not built up any no claims bonus could take extended or advanced driving lessons and this can go a long way to lessening the premiums they are charged. Sticking with a non-sporty sedate car will also mean that they pay less in premiums.
A broker can without a doubt find it online cheaper than anywhere. However while this is the easiest and cheapest way to take out cover, it is essential that you fully understand what the insurance covers, so there are no nasty surprises should you ever need to claim.
David Thomson is Chief Executive of BestDealInsurance an independent specialist broker dedicated to giving consumers the best insurance deal. They offer great value home, life and car insurance.
