Posts Tagged ‘auto insurance company’

Auto Insurance: What is an SR-22 and Who Needs One?

Wednesday, April 7th, 2010

Does every driver need an SR-22? No. While the rules vary from state to state, an SR-22 is typically only required by court order, for those who have specific driving violations on their record or have lost their license to drive. An SR-22, also known as a Certificate of Financial Responsibility, is a certificate, that once ordered to have, will be issued by your insurance company to the state to serve as proof that you have obtained your state’s minimum required auto insurance coverage. As long as you keep your insurance coverage active, your SR-22 will remain valid. Should your policy be canceled, the SR-22 will become null and void, resulting in a report to the proper state agency and possibly revocation of your driving privileges. So don’t risk it! Keep your coverage going so you can stay behind the wheel.

How to Go About Getting an SR-22

Typically, the court will have ordered you to obtain a SR-22 and fulfill your obligations to them in order to clear up your record or get your license back. This could very well include court fines, restitution and classes, which you may have to pay for yourself. Once you have completed all that the court has ordered you to do, the final step in getting your driving privileges back will be the filing of an SR-22.

You’ll need to find an insurance company, purchase a policy (most states only require liability insurance as the minimum, but be sure to check into that for your particular state), and then let the insurance company know that you need an SR-22. Once your policy is in effect, they will file the certificate with the proper state authorities on your behalf. Keep your premiums paid, and your SR-22 will remain in effect.

What’s it Going to Cost?

Aside from what you have had to pay to the court or state and any other fines and expenses incurred during your case, you’re looking at the initial cost of your auto insurance policy plus your monthly premiums. This, of course, will vary based on your policy, your company, the car you drive and several other factors. As for the SR-22, the fee will vary from state to state and company to company. However, it is only a one-time fee, charged when the SR-22 is filed. The only time you would ever pay this again is if you messed up and your SR-22 become invalid and you had to file again.

The best way to never need an SR-22 is to keep your auto insurance current at all times. However, things do happen and should you find yourself in some kind of trouble over driving violations, lack of insurance, or your license has been revoked, no worries. An SR-22 is your second chance. Use it, but don’t abuse it. Second chances don’t come along very often.

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How to Ensure that your Rental Car is Properly Insured

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.

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When to Contact your Auto Insurance Company

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.

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How to Facilitate the Process of Filing an Auto Insurance Claim

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.

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    How to Find Good Auto Insurance when your Credit is Bad

    Wednesday, December 2nd, 2009

    Good credit is essential for a wide variety of things, including auto insurance. A strong credit rating is often essential for securing the most competitive auto insurance rates, although finding car insurance when you have bad credit is still possible.

    A good credit score often shows an auto insurance company that you are a responsible individual; convincing an auto insurer that you are responsible when your credit says otherwise, however, can be quite difficult.

    You may encounter auto insurance companies who simply refuse to insure you when you have bad credit. You may also encounter auto insurance companies that demand upfront payments instead of monthly payments. Finally, you may pay much higher rates than individuals with good credit.

    Auto insurance companies generally run credit checks on applicants because they want to be sure that they will pay their monthly premiums on time, without fail.

    It is possible, however, to secure auto insurance, at a competitive rate, even if your credit rating is lower than average:

    • Shop around and get several quotes. Like motorists with good credit ratings, it always pays to compare rates from several auto insurers before deciding on a policy. However, it becomes all that more important when you have poor credit, as the rates and policy terms can vary widely from one company to the next. In other words, take your time and get quotes from at least three or four different auto insurance companies.

    • Research auto insurance companies online. It may be much easier to get quotes and information from several different auto insurance companies by visiting them online. Many auto insurers have user-friendly websites that feature online calculators; these calculators can provide you with a fairly accurate rate quote for auto insurance.

    • Work on your credit score. Don’t simply let your credit problems be forgotten. Work towards paying off your debts and improving your credit score so that you can revisit your auto insurance rates in a year or two in hopes of securing lower rates for your auto insurance. Remember: it is never too late to work towards better credit.

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    How to Choose an Auto Insurance Policy

    Friday, November 27th, 2009

    We all need to save money, but we don’t want to give up quality and service to do it. So, is it possible to get both a low price and great service and coverage under one auto insurance policy? Absolutely!

    We are all bombarded by countless auto insurance ads during any given day. From billboards and radio to those incessant television commercials, auto insurance ads are everywhere we look. It certainly makes it difficult to sort through all of the hype and instead find an auto insurance company that can provide you with the coverage and price we need.

    Thankfully, there are ways to get around the auto insurance lure tactics so that you can make the best decision for you. Here are some of the things you should be looking for when comparing auto insurance companies:

    • Price - There are many, many things that influence the price of auto insurance. From your age and accident history to your marriage status and vehicle type, the cost for auto insurance can vary widely. You can simply call auto insurance companies and ask for their rates, or you can contact the Department of Insurance in your state for a list of average rates. Finally, you can check online for prices; most insurance companies have online calculators.

    • Service - Don’t forgo service for low prices, or you could be in for a potential nightmare when the time comes to submit a claim. You can certainly ask friends and family for recommendations. You can also contact the Better Business Bureau and ask about the number of complaints the company has filed against them.

    • Financial Stability - With so many companies in the country failing, it becomes hard to distinguish a strong company from a weak one. You may want to consider looking into the company’s financial position; this information is readily available online.

    • Customer service - One of the biggest factors when deciding on your auto insurance company will likely be customer service. If the representatives were not helpful and courteous when you called for an auto insurance quote or asked questions then you can be pretty sure that they won’ be courteous when it comes time to file a claim. Bottom line: consider all aspects of an auto insurance company before diving into a policy.

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    How to Negotiate Compensation with Your Auto Insurance Provider

    Thursday, October 29th, 2009

    If you’ve recently experienced an unfortunate mishap involving your vehicle, then you’ll quickly need to contact your insurance company to determine your quantity of reimbursement and compensation.  While many insurance customers believe that they can haggle and trick their insurance adjusters into distributing more funds, experts assert that insurance adjusters are held to a specific calculation method that does not allow for any variation.  In other words, your safest bet involves simply telling the adjuster the clear facts and details of the accident.

    Gathering Your Facts for Insurance Review

    Since it is ultimately futile to attempt to gain added compensation through pleas and sob stories of one’s accident, insurance leaders seek to remind clients that adjusters simply need to be informed of the clear and true facts of an accident; with the factual data and information, an adjuster is able to more quickly and efficiently send due compensation for the quick repair of your vehicle.  As such, your first proactive step in making an insurance claim involves gathering all bills, costs, and information regarding the accident.  This may involve going through costs already paid, or by writing down honest estimates of anticipated costs.  Anticipated costs may include medical bills, lose of income if the accident causes harm that forces a rest from working, as well as additional damages or needs.

    By creating an honest and realistic assessment of the current and anticipated costs of your accident, an insurance adjuster may be able to maximize your compensation.  Essentially, once the information is compiled and sent to an insurance adjustment officer, the adjuster often has the power to give you a greater amount of compensation within a set range.  For example, if your accident and injuries place you in a range of $3,000 to $5,000, then the adjuster has the option of giving you any amount within this allotment.  With this authority, the adjuster can either opt to place you at the minimum, middle, or even the maximum of the potential return!

    Continuing Negotiation

    After the adjuster contacts you with the decided amount of your return, you can still continue your negotiation by simply asking the provider to increase their compensation amount.  Many insurance experts have revealed that clients should never accept the first offer from an adjuster, as just a bit of inquiry and nudging can often lead to an extra few hundred dollars or more.  The key to success with this second step involves, again, a clear preparation and knowledge of the facts of your case.

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    Insurance and Auto Accidents: A Step by Step Guide for Success

    Monday, October 26th, 2009

    Whether or not you have experienced an accident in the past, it is important to review the step by step suggestions for optimal safety and insurance compensation.  By adhering to the suggested practices, your auto insurance company will be able to provide you with potentially faster and more ideal service.

    After an Auto Accident: How to Respond

    1. After an accident, after you are confident that neither you nor any other individuals are injured, check to make sure it is safe to exit your vehicle.  Once you are able to do so, contact the local police department; many states require that drivers contact the police after any form of vehicle accident or collision.  Some states, however, do not require that you contact the police; however, it is optimal to contact your insurance company if you are not sure.

    2. If possible, use your digital camera or cell phone camera to take pictures of the accident and damages.  Having photo evidence can help you to avoid any potential disagreements between you and the other driver(s).

    3. Exchange your insurance information with the fellow driver(s).  Additionally, write down the other drivers’ name, phone number, addresses, and any other important contact details.  If a witness was present for the accident, you should also record his / her contact information as well.

    4. Once all information is exchanged, contact your insurance company to inform them of your recent accident.  Whether a driver is at fault or not is irrelevant in this step; each driver must inform their provider of the damages involved.  Upon contacting your provider, inform them of any pictures that you were able to take, while you also must be able to give them details of the accident and damages.

    5. Lastly, after contacting your provider, revisit the specific details of your current policy.  Make sure you are aware of what resources and compensation rates for which you may be eligible.  Having knowledge of these features will help you to more effectively negotiate and communicate with your insurance company in the coming days / weeks.

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