Archive for the ‘Auto Insurance’ Category
Monday, March 15th, 2010
Auto insurance shouldn’t break the bank. In fact, given the competition in the auto insurance market, it is quite possible to find a great policy that is both reasonably priced and comprehensive.
Always remember that there are several auto insurance carriers available, regardless of where in country you reside. However, beyond find the best rate, there are a number of things you can do on your end to lower your auto insurance premiums and save big:
- Buy a smaller car - Simply put, smaller cars cost less - sometimes much less - to insure than larger cars. Keep in mind, too, that smaller cars just don’t save you money on auto insurance premiums; they also save you on gas and on maintenance costs. Consider, for example, the cost of tires for a small car versus the cost of tires for one of the larger, sport utility vehicles. If you are in the market for a new car, contact your auto insurance carrier and ask them for insurance quotes for both smaller cars and larger cars; you may very well find yourself shopping for a smaller, more economical vehicle.
- Play it safe - This may seem like a no-brainer, but the fact of the matter is that not many people think about their auto insurance coverage when they get behind the wheel. Aside from the obvious increase in auto insurance premiums should you become involved in an auto accident, also consider speeding tickets, as fines and points can certainly mean an increase in your auto insurance premiums.
- Consider a professional - If you have a teenage driver, consider enrolling them in a safe driver course. Many auto insurance companies offer great discounts for teenage drivers who pass these tests.
- Raise your deductible - Consider a slight increase in your deductible, as this can often significantly lower your monthly premium amounts. However, you will also need to make sure that you have the cash in case you become involved in an accident and need to pay out the deductible. It’s always a smart idea to keep your auto insurance deductible amount tucked away in a money market or savings account in case you need it.
Tags: affordable auto insurance rates, auto insurance, auto insurance carriers, auto insurance policy, auto insurance rates
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Thursday, March 11th, 2010
We are all as cautious as can be on the roadway, but no matter how careful we are each time we get behind the wheel, chances are that we will, at one point or another, be involved in some type of auto accident.
So, the question is: are you well protected in case of an auto accident?
For many motorists, this question may be “no.” This is because not many of us give too much thought to our auto insurance policies. However, this can prove to be a very costly mistake.
If you don’t even know what kind of auto insurance coverage you have, or how much insurance you have, then you are certainly in good company; not many people understand their auto insurance policies, let alone fully understand their coverage amounts.
- The first thing you must do when purchasing auto insurance is the policy and its price. The first question you may want to ask yourself is: is the coverage worth the price? And in order to answer this question, you must do your homework and compare prices between several auto insurance companies.
- Before you can begin comparing prices and policies, you must understand what coverage you want and/or need, as coverage amounts can greatly dictate the price of the policy. Consider such factors as: insured parties; passenger coverage; third party and theft; fire damage; and accident damage.
- Another factor to consider when shopping for auto insurance is the insurance carrier. The insurance carrier you choose is very important, as it will be your first point of contact following an accident. Research the company, its history, its financial stability and, perhaps most importantly, reviews by other customers regarding their customer service and coverage.
There are several resources you can use to research your auto insurance company, including your state department. Simply head to your state department’s website and you will find a plethora of information regarding the auto insurance carrier whom you are considering. You may also want to ask friends and family for their opinion, as they can be a great source of information and advice. Additionally, insurance review and comparison websites offer robust and often in-depth coverage of insurance policies.
Finding a great auto insurance policy isn’t hard, but it does take some time and research on your part. It is important to remember that your choice of auto insurance policies can mean the difference between overpaying for an undervalued policy, or even getting caught in a situation where you are underinsured and financially responsible for a great deal of money. In short, take the time to find the best auto insurance policy for your specific situation and budget.
Tags: accident damange, auto accident, auto insurance, auto insurance coverage, auto insurance policy, fire damage, innsurance carrier, insurance review and comparison websites, insured parties, passenger coverage, purchasing auto insurance, theft
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Friday, March 5th, 2010
Although auto insurance policies differ based on coverage amounts, deductibles and the insured driver, among other things, there are a number of items that nearly every auto insurance policy will have. Each type of coverage may be worded differently from one auto insurance policy to the next, but they are general in terms of what they protect.
Keep in mind that auto insurance minimums will depend on the state in which you live, so always check your state’s minimum coverage amounts.
The following is the framework of a general auto insurance policy:
- Bodily Injury Liability - This section of your auto insurance policy covers any injuries that you cause to another individual. Bodily injury liability insurance is a must because you may be sued by another motorist for a large sum of money. If you don’t have enough liability insurance you could be risking your other assets, such as your home or your savings. Most states have state minimums regarding liability coverage.
- Personal Injury Protection - This section of your auto insurance policy covers any injuries that you or your passengers sustained while in your vehicle. Personal injury protection covers medical payments, lost wages and even funeral costs.
- Property Damage Liability - This section of your auto insurance policy covers any damage you may have caused to someone else’s property. This may include their car or their property.
- Collision - This section of your auto insurance policy covers the damage to your car when you are involved in a collision with another car. Your collision coverage will likely come with a deductible.
- Comprehensive - Comprehensive coverage reimburses you for loss due to theft or damage, provided it wasn’t a result of a collision with another car or object. Comprehensive insurance usually has a deductible.
- Uninsured Motorist Coverage - This section of your auto insurance policy covers you or a member of your family if you are hit by an insured or hit-and-run driver. This coverage may also be used when you are involved in an accident with an underinsured motorist or if you are hit as a pedestrian.
Tags: auto insurance, auto insurance deductibles, auto insurance minimums, auto insurance policies, auto insurance policy, Bodily Injury Liability, Collision, comprehensive auto coverage, insured driver, personal injury protection, Property Damage Liability
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Tuesday, March 2nd, 2010
It may seem like a burden to take your car in for regular maintenance, but it is important for the life of your vehicle and for your safety when behind the wheel. Smaller vehicle maintenance repair costs may be inconvenient to pay, but in the end your car and your wallet will thank you for it!
The Top Four Reasons why it is Important to Perform Regular Maintenance on your Vehicle:
- Better gas mileage -There are a number of things that can cause poor gas mileage, and they all relate directly to vehicle maintenance. Regular oil changes, for example, can ensure that your car is running efficiently and that your air and oil filters are clean and functioning properly. In addition, regular maintenance should also include your tires; if they are underinflated they can dramatically decrease your vehicle’s gas mileage.
- Safety - The safety of you and your passengers can be compromised if you don’t bring your car in for regular maintenance. If your tires are overinflated or underinflated they can prevent you from maintaining control of your vehicle and they can become punctured more easily. In addition, regular maintenance may detect other problems that may need to be addressed to ensure your safety, such as brake or steering problems. Regular vehicle maintenance will also ensure that fluids, such as steering wheel fluid and oil, are kept at an adequate level so that your car functions properly at all times.
- Fewer large auto repair bills - Simply put, taking the time to get your car into a vehicle repair shop for regular maintenance will prevent larger auto bill repairs from catching you off guard. For example, regular oil changes can prevent engine problems and regular brake checkups could eliminate the need for new rotors.
- Lower auto insurance - If you compromise the safety of your vehicle and end up becoming involved in an accident, your auto insurance rates will likely increase. Therefore, it is important to stick to your vehicle’s regular maintenance schedule not only for your safety, but for your wallet, too.
Tags: gas mileage, lower auto insurance, regular Maintenance on your Vehicle, vehicle life, vehicle maintenance, vehicle safety
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Monday, February 22nd, 2010
With cars come car accidents and claims. Not many of us can say we were never involved in a minor fender bender at one time or another; and, as such, most all of us have had to file a car insurance claim.
Although car accidents will likely happen sooner or later, they don’t have to be a great inconvenience. In fact, you can submit a car insurance claim in a relatively painless fashion, provided you understand which steps you must take to facilitate the process of filing a car insurance claim.
Use the following tips to help you file a car insurance claim and get on with your life as soon as possible:
- First of all, before an accident ever occurs, make it a point to fully understand the terms and conditions of your auto insurance policy. If you don’t have a clear understanding of your policy’s benefits and limitations then you may be in for quite a surprise when it comes time to filing a claim.
- Make sure you and your passengers are all right and that no one needs medical attention. If the car accident is more than a simple fender bender you may want to seek medical attention for yourself and your passengers, just in case.
- Exchange all information if another motorist was involved in the accident. Do not leave the scene until you have secured the other driver’s name, address, phone number and insurance company (including the contact information), regardless of whom was at fault. If the other driver seems reluctant to provide you with his/her contact information or if they appear to be intoxicated, agitated or angry, it is best to contact the police so they can make a police report of the accident.
- Obtain the names and contact information of any witnesses on the scene.
- Notify your insurance company about the car accident as soon as possible. Your insurance company will likely assign an insurance adjuster to your claim and review the report to determine who was at fault. If the accident is determined to be your fault, you will likely need to pay your auto insurance deductible regarding your damages. However, if the other driver was at fault, you will not have to pay out your deductible to have your damages covered.
Tags: auto insurance, auto insurance claim, auto insurance policy, car accident, car insurance, file a car insurance claim, insurance adjuster
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Friday, February 19th, 2010
Do you know the right steps to take when purchasing auto insurance?
Although you can just as easily choose a company out of the Yellow Pages and purchase your auto insurance through them, it really is in your best interest to do your homework and go through the proper channels so that you can be sure you are receiving the most comprehensive auto insurance at the most competitive rates.
Your auto insurance checklist:
- Check out your state’s auto insurance requirements. Each state has their own set of minimum auto insurance requirements that must be met in order to own a vehicle, so make it a point to educate yourself on these requirements before you begin the process of shopping for auto insurance.
- Determine your budget and how much you can afford each month for auto insurance. Don’t make the mistake, however, of choosing less expensive auto insurance that does not provide adequate coverage. Remember: consider not only your monthly auto insurance premium, but also your out-of-pocket expenses should you need to file a claim. Often times, it makes more sense to pay a slightly higher auto insurance premium than to be stuck with a high deductible in the event of an accident.
- If you have coverage now, contact your auto insurer and ask for a detailed description of your auto insurance benefits. This will allow you to easily compare your current coverage with other auto insurance policies.
- Inquire about discounts. For example, many insurers will offer significant discounts for individuals who carry more than one policy through them. Many people, for example, carry both their homeowners/renters insurance and auto insurance through the same company.
- Before you decide on an auto insurance company, check their financial stability and ratings through your state’s insurance web site. You can ask friends and family members for their recommendations regarding auto insurance policies, and you may also contact your local BBB for information on them.
- Make sure you go through the proper channels and cancel your current policy only after you have secured a new one.
Tags: auto insurance, auto insurance benefits, buying auto insurance, competitive auto insurance rates, comprehensive auto insurance, minimum auto insurance, purchase auto insurance
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Tuesday, February 16th, 2010
If you are taking off on a road trip, you may begin thinking about insuring your rental car. There is a general disconnect when it comes to understanding the process of insuring a rental car, so here is the low down on what you need to do before you drive away in a rental car:
- Call your auto insurance company and find out how much coverage you carry on your own vehicle. Make sure your coverage and deductibles apply to a rental car, and that they are sufficient to cover a rental car. Keep in mind, however, that you will probably not be fully protected if you don’t have either comprehensive or collision insurance on your vehicle. In particular, you will not be covered if your rental car is damaged or stolen. While you’re at it, check with your insurance company to see if they cover related fees associated with a rental car, including towing charges and administrative fees. You may also check to see if your auto insurance company offers an insurance rider to cover rental car costs.
- You will also need to contact the credit card company on which you are securing a rental car. In particular, you will want to check with your credit card company to see how much rental car coverage you have on your car. It is important to check your coverage through your credit card company, as benefits vary widely between cards. Some credit cards, for example, may cover damages to your vehicle and towing charges, but bodily injury or death claims may not be covered.
- Once you have arrived at the rental car counter, you will need to decide how much coverage you will need on your rental car (if any). There are a number of coverage types you can purchase, including:
- Loss Damage Waiver - This waiver will protect you from being financially responsible for any damages to the rental car or if the rental car is stolen. This waiver may also include towing and administrative fees.
- Liability Insurance - If you have a good auto insurance policy with a high amount of liability protection, you may not need to purchase liability insurance for your rental car.
- Personal Accident Insurance - This coverage will provide coverage for you and your passengers for medical and ambulance bills. Many individuals do not need personal accident insurance, particularly if they have good health insurance coverage.
- Personal Effects Insurance - This type of coverage protects the value of your personal items if they are stolen. Many people, however, have adequate homeowners insurance that covers personal effects.
Tags: auto insurance company, collision insurance, comprehensive insurance, ersonal Effects Insurance, insuring a car rental, liability insurance, Loss Damage Waiver, Personal Accident Insurance, rental car, rental car coverage, roap trip
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Wednesday, February 10th, 2010
When was the last time you contacted your auto insurance agent?
If you’re like most motorists, the last time you thought about your auto insurance was the day you purchased it. However, in order to save your budget and ensure that your auto insurance meets your needs and wants, it is important to give your auto insurance some thought from time to time.
Here are some great times to contact your auto insurance agent:
- When you buy a house - Most insurers offer both auto and homeowners insurance, which could save you big when it comes to purchasing a home. In fact, most auto insurance companies can offer discounts of up to 10 percent when you purchase both your auto insurance and homeowners insurance through the same company. Plus, it can lessen the hassle of purchasing homeowners insurance if you already have auto insurance through a particular company, as your bills and statements can be combined.
- When you change jobs - If you change jobs and you find yourself traveling more or less, it is important to point this change out to your auto insurance agent. In particular, you may be able to save on your auto insurance rates when you can prove that you are spending less time behind the wheel. For individuals switching from working outside the home to working in the home, this can mean substantial savings on auto insurance.
- Before you purchase a new car - One of the first phone calls you should make before purchasing a new car should be to your auto insurance agent. After all, if you are budgeting for a new car, you certainly don’t want to wait to find out about your monthly auto insurance premiums until after you purchase a car.
- Every year - Always stay on top of your auto insurance rates, and don’t assume that just because you’ve been a customer for several years that you are getting the best rate. Check out other insurers’ rates and contact your auto insurance agent if you’re not so sure that you are still getting the best rate.
Tags: auto insurance, auto insurance agent, auto insurance company, auto insurance milage, auto insurance premiums, auto insurance rates
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Tuesday, February 2nd, 2010
Insuring a teenage driver is often a very expensive prospect, which is why, as parents, we need to do everything we can to ensure not only that our teenagers remain safe behind the wheel, but that they don’t do anything that could result in an increase in their already-high auto insurance rates.
Passing a driver’s test is just the first step in learning how to conduct oneself behind the wheel. It is up to the parents, therefore, to ensure that they enforce a strict set of rules so that their teenage driver, as well as other motorists, remains safe.
The following tips may provide you with the information necessary to talk to your teenage driver about responsible driving habits:
- Set a curfew - Setting a curfew with your teenage driver will ensure that he or she is not on the roads during the latest (and arguably the most dangerous) part of the night. A reasonable curfew is perhaps one of the best places to start when establishing driving rules.
- Prohibit your Teenager from Playing Taxi to many Friends - A car full of many friends is sure to cause distractions for your teenage driver, and may increase his or her likelihood of becoming involved in an auto accident. It is therefore in your teenager’s best interest to limit the amount of passengers that he or she can have in the car at any given time.
- Prohibit your Teenager from Texting/Talking while Driving - Simply put, cell phones can prove deadly for many teenage drivers. It is therefore imperative that you set strict ground rules for texting and talking while driving. A good rule is to require your teenage driver to never talk or text while the car is in drive.
- Have a Candid Talk about Drinking and Driving - The topic of drinking and driving should not be approached just once. Instead, it should be an ongoing dialogue between teenage drivers and parents. Talk about the consequences, talk about the dangers, and talk about ways to avoid this potentially deadly situation. Your teenager may roll his or her eyes at you, but in the end, ongoing discussions are highly effective at preventing teenagers from drinking and driving.
Tags: drinking and driving, high auto insurance rates, insuring a teenager, talking while driving, teenage driver, texting
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Saturday, January 30th, 2010
If you need to file an auto insurance claim, do you know what to do?
The very first thing you should do if you find yourself in an auto accident is to call the authorities and alert the police (and an ambulance, if necessary). The police will provide you with an accident report, which can help provide you with documentation, both for your auto insurance company, as well as any other claim that may arise from the incident.
A police report will also be necessary if you need to file a personal injury insurance claim.
After you have received a police report and received medical attention (if necessary), you will want to contact your auto insurance company immediately. Most auto insurance companies require you to file a claim within 24 hours of the accident, so don’t delay making this phone call. You may also be able to file a claim on the Web, so check to see if this feature is available through your auto insurance company.
The auto insurance company will ask you about the accident, including any damages and the involvement of any other parties. The insurance company will need to determine whether accident was your fault or was the fault of the other party, if there was one. They will then assign your claim to an adjuster, who will handle your claim from there. Keep all of your insurance paperwork close by when speaking with your claims adjuster.
Stay in contact with your claims representative and ask questions as they arise. Keep the lines of communication open with your claims adjuster so that you can move the process of filing a claim along faster.
Ask your claims adjuster about repairing your vehicle; in particular, find out where you need to take your vehicle. Many auto insurance companies work with particular auto body companies, so don’t forget to ask questions regarding the repair of your vehicle.
Ask your claims adjuster if your policy covers car rental. If so, ask about the details of the rental car benefits, including the daily benefit amount and the length of time that your policy covers a rental car.
Tags: auto accident, auto claim adjuster, auto claims representative, auto insurance claim, auto insurance company, car rental, injury insurance claim, police report
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