Posts Tagged ‘auto insurance policy’
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
Posted in Auto Insurance | No Comments »
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
Posted in Auto Insurance | No Comments »
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
Posted in Auto Insurance | No Comments »
Friday, February 26th, 2010
A road trip can be a great experience; the open road, the sunshine and the excitement of visiting new places. However, without the proper items, you could be left in a lurch if your road trip doesn’t turn out as planned.
Before embarking on your next road trip, make sure you have a few essentials:
- A cell phone - A cell phone is, without a doubt, one of the most important things you can have with you on a road trip. Make sure it is in good working and make sure that you also have a car charger to keep it charged while traveling.
- A roadside assistance membership - A roadside assistance membership is a useful tool for motorists, especially when traveling away from home. Before you leave on your trip, it may be a good idea to contact the company through which you have the membership to make sure your membership is active and to make sure it is valid in other parts of the country. Also, don’t forget to bring along the contact information of the company; it is often best to keep the number of the roadside assistance company in the glove compartment of your vehicle.
- Bottled water and snacks - In case of an emergency, it is always important to have at least a one or two day’s supply of water and food. If your trip involves back roads or if you know you may be traveling in remote locations, it is essential to make sure you have enough food and water in case you become stranded or lost.
- A comprehensive auto insurance policy - A comprehensive auto policy may just be the most important thing you bring along with you when traveling. Regardless of what happens on the road or what troubles you find yourself in as a result of an accident, a good auto insurance policy will surely come into play. Check your auto insurance policy’s terms and conditions before embarking on your trip so that you will be aware of your rights should you become involved in an auto accident.
Tags: auto insurance policy, auto policy, comprehensive auto insurance policy, road trip, roadshipe assistance, roadside assistance membership
Posted in Travel Insurance | No Comments »
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
Posted in Auto Insurance | No Comments »
Wednesday, January 27th, 2010
An auto insurance policy is generally straightforward; however, it is important to fully understand the details of your policy so that you can be assured that you are adequately protected if you need to file an auto insurance claim.
Your Auto Insurance Policy: Understanding the Various Sections
- The first part of your auto insurance policy involves three numbers separated by slashes. This section of an auto insurance policy is often the most confusing to auto owners. However, these numbers are quite easy to understand.
The first number is the maximum coverage for your policy, per person. In other words, the initial number equals the total amount of bodily injury coverage for each person. The next number is the total amount of bodily injury coverage. In other words, the first number may be $100,000 and the second number may be $300,000, so the total amount of coverage for bodily injury is $300,000, or $100,000 per person. The third number equals the total amount of property damage coverage for your auto insurance policy.
- The next section of your auto insurance policy includes the policy’s declarations, and also includes information about your vehicle, the drivers on the policy, the monthly premium for your policy and details of the limitations of your coverage. This section also includes additional information on your policy, such as rental car reimbursement; these additional benefits are usually referred to as riders on your policy.
- The next section on your auto insurance details and defines the language used in your auto insurance policy. This section is designed to help you understand your policy, so it is common to see auto insurance definitions in this section. This section will also help you understand the process of filing a claim and your responsibilities as the driver of the vehicle.
- The last section of your auto insurance policy will detail your policy’s exclusions. In other words, this section describes situations in which your policy would not cover you. This is an important section to read and understand, as it will clearly detail your rights and limitations under your auto insurance policy.
Tags: auto insurance, auto insurance claim, auto insurance policy, bodily injury coverage, limitations of coverage, maximum coverage, policy declarations, policy riders, property damange
Posted in Auto Insurance | No Comments »
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.
Tags: auto coverage, auto insurance ads, auto insurance company, auto insurance customer service, auto insurance policy, auto insurance services, auto insurance tactics, comparing auto insurance companies, price of auto insurance
Posted in Auto Insurance | No Comments »
Friday, October 30th, 2009
If you’re planning to relocate to a new state in the near future, then you’ll most likely need to continue to invest in your auto insurance policy; however, as each state has its own unique auto insurance requirements, you may need to alter your coverage in order to meet the legal guidelines for driving on your state’s roads.
Auto Insurance and State Requirements
In examining the legal requirements pertaining to each state, most of the country’s 50 states demand that all drivers carry some form of auto insurance. Specifically, 48 states legally require hat drivers purchase liability coverage-excluding New Hampshire and Wisconsin. Most states demand liability coverage in order to protect individuals from financial ruin in the unfortunate case of a serious accident. As liability protection helps to cover the costs of bodily injury, legal costs, and other potential related costs pertaining to an accident, the basic liability policies help protect all drivers involved in some form of collision or auto mishap. Essentially, if you are at fault of causing an accident, then you may be susceptible to potential lawsuits from other drivers involved in the collision. As such, liability coverage can help protect you from exorbitant legal fees, compensation for damages, as well as coverage for yours and / or others’ physical injuries.
Registering Your Car in a New State
Once you’re settled into your new home inside your new state’s boundaries, you’ll need to head to the DMV to register your car. Before heading in to receive your new documents, verify whether or not your current insurance coverage meets all of the state’s demands. Oftentimes, some states will not allow you to register your vehicle until proof of insurance is verified. Also, since states often change their insurance requirements each year, it will be to your advantage to verify the requirements often!
Penalties for Lack of Coverage
If you’re tempted to post-pone your vehicle registration with your new state, be aware that delay can lead to your spending extra dollars! Nearly all states enforce financial penalties for late registration. Adding to this, if your state’s DMV finds out that you have been driving without insurance, you can be forced to pay an incredibly large fine (depending on the number of days that your vehicle has been uninsured).
Tags: auto coverage, auto insurance, auto insurance policy, auto insurance requirements, liability coverage, proof of insurance
Posted in Auto Insurance | No Comments »
Friday, October 2nd, 2009
As the major auto companies are striving to revamp their vehicle offerings and designs, some manufacturers are taking their innovations a step further by offering their own vehicle insurance policies. Currently, only one major company, Suzuki, has offered unique insurance policies for their vehicle drivers; however, many experts are wondering if this trend will continue.
Insurance for Motorcyclists
Suzuki, a major manufacturer of various types of vehicles, has designed a unique insurance program specifically for its drivers of Suzuki motorcycles. As studies show that motorcycle drivers are at a significantly higher safety risk than drivers in an automobile, many insurance companies hike up the costs and rates for motorcyclists. As a result, many motorcycle owners are forced into a tight financial circumstance; due to motorcycle insurance rates, some owners are forced to sell their bikes, cancel their plans to purchase a new bike, or potentially take a dangerous risk by driving illegally without insurance! As these outcomes are certainly unfavorable, Suzuki has decided to offer its customers a more affordable insurance program, specifically designed for motorcyclists. Suzuki’s motorcycle insurance rates will vary for each driver, as rates are based on a driver’s age, driving history, vehicle, along with other factors.
Reducing Motorcyclist Insurance Costs
If you’re planning to purchase a Suzuki motorcycle, check with competing auto insurance companies to ensure that you find the best deal for your specific driving history and coverage needs. Thoroughly comparing a variety of insurance options before agreeing to one specific insurance contract can prevent you from overpaying on coverage costs. Adding to insurance comparisons, many drivers can further reduce their insurance costs by opting for safe driving choices, as insurance companies generally offer additional discounts for drivers who make specific choices such as:
- Wearing a helmet at all times
- Requiring passengers on the motorcycle to wear a helmet at all times
- Obeying all traffic laws / maintaining a safe driving record
- Wearing additional protective clothing and / or protective eye wear that can enhance driver safety and caution
- Completing a driver’s safety course (specifically designed for motorcyclists)
Tags: affordable insurance program, auto companies, auto insurance companies, auto insurance comparison, auto insurance for motorcyclists, auto insurance policy, insurance policy, motorcycle insurance costs, vechicle insurance policies
Posted in Auto Insurance, Life Insurance | No Comments »
Monday, September 21st, 2009
While factors such as age, driving history, and credit certainly influence the costs of one’s auto insurance policy, your specific vehicle of choice can also raise or lower your insurance price. According to recent industry reports and evaluations, opting for one of many the top rated luxury vehicles can result in serious excess insurance costs. To find out if you’re paying extra bucks for your top of the line automobile of choice, evaluate the industry’s top 10 most expensive vehicles to insure in 2009.
The Top Ten Most Expensive Vehicles to Insure (2009)
According to research conducted by www.Insure.com, the most expensive vehicles to insure are based on a general comparison of insurance costs for a hypothetical driver with the following credentials: male, 40 years old or up, commutes 12 miles to work, and pays a $500 deductible on comprehensive and collision claims.
- Nissan GT-R
- Dodge Viper
- MBW M6
- Ford Shelby GT500
- Mercedes-Benz G-Class
- Audi S-8
- BMW M-5
- Hummer H2
- Lexus ISF
- Porsche 911
Generally, most of the top ten cars are classified as “sports vehicles,” as options like the Nissan GT-R and the Dodge Viper have gained rave reviews for their speedy, sleek, luxury performance features. The Mercedes-Benz G-Class and the Hummer H2 are technically the only “SUVs” on the top ten list, while the Audi- S-8 is classified as a larger sports utility vehicle.
How to Lower the Price of Your Policy with a High Coverage Vehicle
While these vehicles are considered to be the 10 priciest options to insure, industry experts often remind drivers that opting for unique coverage changes can serve to lower the general insurance payment price. For example, as the insurance prices for the 10 aforementioned vehicles are based on a general coverage plan of 100/300/50, altering these ratios could certainly serve to reduce the annual insurance costs. 100/300/50, which stands for $100,000 for one person’s injury liability, $300,000 for any / all injuries, and $50,000 for property damage, opting for reduced compensation allotments can allow drivers to take on a greater risk of loss (if an accident occurs), yet a greater savings each month or year.
Tags: auto insurance policy, credit, driving history, excess insurance costs, expensive vechicle to insurre, insurance prices, lower policy price, lower your insurance price, top rated luxury vechicle, vechicle of choice
Posted in Auto Insurance | No Comments »
