Auto Insurance Guide Archive for May, 2010

• The ABCs of senior auto insurance simplified

  by Hayden Krueger

  Senior drivers require insurance more than younger drivers for various reasons. Many senior drivers who live on their life savings find it relatively hard to come up with their insurance premiums and wonder why they need to pay such high premiums considering their limited usage.

  Why senior drivers need auto insurance cover

  Senior citizens are at a higher risk of getting injured in a car crash, a slight bump on the head which can mean an ice pack for an hour to recover for a younger person might involve expensive M.R.I.s for a senior citizen. Senior citizens are aloes at a higher risk of meeting with an accident due to slower reaction times; slower reaction times mean that the driver has less time to brake in order to avoid hitting another car, cyclist or pedestrian. Many senior citizens also tend to have a slight eyesight problem which can also affect … Click here to read more

• Six auto insurance secrets unveiled

  by Hayden Krueger

  Cancellation of insurance 

  When changing insurance companies many people make the mistake of not notifying their insurance company. Not paying your bills is not a means of cancelling your insurance; when you change your insurance provider to an old one, you technically have two covers until you cancel the old cover. The insurance company will keep billing you and send over recovery agents to get their premiums; if you refuse to pay your policy is cancelled and this whole episode goes onto your credit record. Always call and cancel your insurance, better still email then with a carbon copy to yourself as evidence. 

  Stacking 

  If you’re involved in an accident with an uninsured driver you can claim damages under uninsured and underinsured cover from more than one insurance policy. This practice helps you recover all your losses by multiple claims; however it is forbidden in most states so ensure it’s … Click here to read more

• Do I need to get my teen auto insurance?

  by Hayden Krueger

  Many people wonder if they need to buy their teen’s auto insurance. Truth be told most people who have a teen in the household who holds a license don’t understand how their insurance policy works. The law states that regardless of usage pattern and amount of usage every individual who drives is mandated to have auto insurance. Many people believe that since their teen doesn’t drive the vehicle that often they needn’t buy them auto insurance. 

  The law states that insurance for any driver is mandatory 

  As stated by the state governments of all the states insurance is required for any driver. Your teen might only drive 10 miles each year but he is still liable to own auto insurance with adequate cover. Many teens and their parents who are in far away colleges and universities don’t deem it fit to buy auto insurance for the teen as they barely … Click here to read more

• Common Auto insurance myths busted

  by Hayden Krueger

  Auto insurance works on very simple policies and is overflowing with myths and wrong information due to lack of comprehension of the system. Lets touch base on a few of the most popular auto insurance myths. 

  New cars are stolen more often than older cars 

  Another variant of this myth is that the more expensive a car is the more likely it is to be stolen, there is absolutely no base to these myths and in fact there are statistics to prove otherwise. Cars are stole based on their demand in the market and nothing else. A car which is in high demand will always require spare parts such as body panels engine components and even entire engines. Most cars that are stolen are broken down and their components are sold as used spares. The most stolen car is the 1995 Honda Civic and the 1991 Honda Accord in hot … Click here to read more

• Beware of High risk auto insurance companies

  by Hayden Krueger

  High risk drivers are drivers who are at a higher chance of meeting with an accident and thus filing a claim which the insurance company will need to compensate the other parties for. High risk drivers are all around of us and many of us have been high risk drivers at one point of time or another and many of us will be high risk drivers in the future. Teenagers, senior citizens, people with bad driving records, drivers with past insurance claims, and people who drive high performance and modified cars are all classified as high risk drivers. 

  Is the classification fair? 

  Simply put yes, and no. It really depends upon driver to driver although insurance companies have no way of knowing what kind of a driver you are, many people who are in fact rash and reckless drivers have clean driver’s records. Hence the birth of the generalization of … Click here to read more

• All you need to know about auto insurance for motorcycles

  by Hayden Krueger

  Motorcycles like all other motor vehicles require auto insurance and failure to have sufficient insurance can lead to heavy fines and suspension and cancellation of documents such as your driver’s license and registration of your vehicle. Besides this obvious downside you will also be required to pay for all damages in any accident where you are found to be fault. Your payout can and most probably will include medical bills for you and the other party, any associated losses such as lost wages. You will also be required for any property damage to you vehicle, the other parties vehicle and any other damage that might be caused. 

  Motorcycle auto insurance 

  Motorcycle auto insurance is very often considered the same as auto insurance you buy for a car; the purpose and way of functioning may be the same however there are various differences you need to make a note of.

  Motorcycle … Click here to read more

• A glimpse into auto insurance for motorcycles

  by Hayden Krueger

  Motorcycle insurance is a much misunderstood and not understood part of auto insurance which involves the insurance of bodily harm and property damage for a motorcyclist with specific provisions and cover taking into consideration the nature, cost and use of the vehicle. 

  Getting the protection you need 

  The protection you need has always been an integral part of a good auto insurance policy, and it is more so ever important aspect when it comes to insuring a motorcycle. Most people tend to stint on cover and get the least they can and this proves very costly in the event of an accident. Due to the nature of a motorcycle the driver almost always suffers grave injuries and sometimes even death; this makes cover for bodily injury even more important. Modern motorcycles specifically the Japanese motorcycles have a lot of carbon fiber and expensive gizmos which can cost a pretty penny … Click here to read more

• While Renewing Your Auto Insurance Policy

  by Hayden Krueger

  Insurance policies for vehicles can be taken out for varying durations such as 3, 6, 9, or 12 months. Staying with the same insurance is the path most taken, but it isn’t really the best. When an insurance company comes up with a policy which suits a customer like you better than your existing policy, they will not intimate you or suggest that you change. It is up to you to inspect the market for better offers each time the policy is due for renewal. With time a lot of things change, for example, your car costs less due to depreciation and shouldn’t be insured for the value it was when it was a new vehicle. 

  If you have changed or are about to change any of the following, it may be time to look for a new policy which could cost you less. 

  Vehicle upgrades 

  If you have installed … Click here to read more

• Using A Hand Held Device To Find Auto Insurance Quotes

  by Hayden Krueger

  There was a time when you had to get home or to the office in order to access the internet. But with rapid advances in technology, you can now access the internet from a hand held device while in transit. You can get access to the internet through an iphone, any 3G phone with a data plan, or even a hand held browser. You just need to be within range of a wifi network or better still, have a data plan which will give you access to the internet while on the go.

  There are many devices that you can use to access the internet on the move, but the iphone is one of the most popular and easiest to use.  So once you get online, you have to start by looking for auto insurance comparison websites. All these websites will give you free auto insurance quotes once you fill … Click here to read more

• Types Of Auto Insurance Companies And Their Benefits

  by Hayden Krueger

  Not all car insurance companies offer the same rates or the same benefits. This will largely depend on the type of car insurance company, the state that you live in and also the type of driver.

  What are the different types of car insurance companies you can choose from?

  Broadly speaking, there are two kinds of them. You have the big names that are the large multinational companies which might be operating in all or most of the states in the country. These companies will most likely charge you a lot more than any other local company. But the sort of coverage and dependability that you get from such a policy will be a lot better than going with the cheaper firms. But the one drawback of going with such a large firm is that you will need to have very good evidence and also a really good lawyer to … Click here to read more

• The Impact Of The Type Of Car On Auto Insurance Rates

  by Hayden Krueger

  Not many of us would actually think about this when we go out to buy a car. In fact this will be the one thing that is furthest away from our thoughts. The things that we will want to do are decide a color, take it for a test ride or take the family along for a ride. None of us will ever think that the make of our car will affect our future insurance rates. But this is very true.

  Auto insurance companies admit to the fact that the make and model of the car do have a say when it comes to the insurance rates. Whenever a new car model is released, the auto insurance companies will rate it or give it a symbol. This rating will be based on its initial ex showroom cost and claimed safety features. But then as time goes by and the insurance … Click here to read more

• The Impact Of Car Color On Auto Insurance Rates

  by Hayden Krueger

  There have always been various urban legends that keep making circles around different groups of people. And these rumors slowly transform into fact. And larger groups of people start believing and propagating this information. There has always been this idea that the color of your car will help decide your auto insurance rates. We shall now see whether this is really true or not.

  It is an oft repeated statement that people with red cars are more likely to speed and hence get more citations or get involved in more traffic accidents. It is true that several psychological studies have shown that people who buy red cars are those who are rasher in the head. But such a study cannot be used to determine the auto insurance rates of a potential customer. There are just too many uncertainties associated with the statement for it to be adopted as a policy.… Click here to read more

• The Benefits Of Drivers Education While Buying Auto Insurance

  by Hayden Krueger

  Drivers Education has a lot of benefits for a person who wishes to apply for a license, a person who pays a high premium on his insurance policy or even a teen ager or a senior who pays a sky high premium based on their age. If you fall under any of these categories, or know anyone else who does, please advise them to take the course, you may even help them to get it started if they are diffident. 

  What is Driver’s Ed? 

  Drivers Ed. or Drivers Education is a series of educational programs run by government authorities, as well as private entities. Today the course is not only beneficial but also compulsory. A driver can take the course at various DMV’s and other public offices, however the most popular method to take the course is online. To sign up for the course all you need to do is … Click here to read more

• Save On Auto Insurance By Preventing Your Car From Being Stolen

  by Hayden Krueger

  Auto theft has become a very popular crime in the United States due to the ease with which it can be carried out. And there is no way of easily detecting who the thieves were in order to serve justice and retrieve the property.

  A car theft is not covered by all policies. You will need to have a comprehensive policy in order to get reimbursed for auto theft. If you just have a third party auto insurance policy then you are out of luck. You will just have to file a police complaint and hope that the car is found before it is ripped apart for parts.

  The general modus operandi of all car thefts these days is to break it apart and sell it for parts. The thieves will never sell the car as a whole because it can be easily identified and they can be traced. But … Click here to read more

• Getting High Risk Auto Insurance Simplified

  by Hayden Krueger

  Before we start dwelling on the subject of how to get high risk auto insurance, we need to first find out how to classify a high risk driver.

  A high risk driver is considered to be a higher economic burden to the insurance company. This is because this drivers driving record would be tainted. The state department of motor vehicles in every state maintains a constant record of all the traffic accidents and citations that the said driver has received.

  Once a record is made the driver cannot do anything to expunge it from the record. It will stay with you for life and whenever you go out to change or renew your policy, you will have to explain this one recording. And your rates will be marginally increased in order to compensate for the added risk that the auto insurance company is taking by insuring you. Because they are … Click here to read more

• Common Auto Insurance Claims Fraud

  by Hayden Krueger

  Insurance companies are finding that the number of claims just keep going up with a failing economy. And this means more work for the special investigations unit of the company. Every auto insurance company will have a unit dedicated to finding individuals who are faking an auto insurance claim. And if discovered, it can mean not only that your policy will be terminated and your loss will not be reimbursed but also that you might end up in jail for fraud.

  It has become very common for fraudster to leave their car keys inside the car with a hope of increasing the chances of it being stolen. The insurance companies know this and will hence ask for both the set of keys that you entitled to have when you file a claim. They will also get suspicious if the car is found without signs of forced entry or with the … Click here to read more

• 5 Steps To Get A Cheap Auto Insurance Policy

  by Hayden Krueger

  Getting an auto insurance policy is not like buying a commodity from a shop. You cannot just walk into an auto insurance company and ask for a policy. This is very much possible but you will end up paying a lot more than you have to for a lot lesser than what you can get.

  The first step to take when looking for an auto insurance policy is to go online and look for quotes. A lot of websites offer auto insurance quotes. These are an estimate of what exactly you will be paying for a set of benefits. And what’s better is that it is totally free. You will need to fill in your personal details like name, contact number, address and some more secure information like your social security number, driving license number and vehicle identification number. Always be careful when divulging this extra important information on the … Click here to read more

• Monthly Payments vs One Time Auto Insurance Payments

  by Hayden Krueger

  Auto insurance bills are anything but cheap, and a majority of people wish they had an easier way out. It is common knowledge that adequate insurance is mandatory and driving without insurance is illegal, which rules out not buying insurance or buying inadequate insurance. The consumer has to thus shop around and find a good auto insurance deal in order to pay the least towards his/her auto insurance bills. 

  Auto insurance companies are corporations which don’t really work as per their consumers’ desires, but on the basis of profitability. These companies took into consideration the need for monthly payments and worked out a plan which is in the benefit of the company as well as the consumer. 

  Monthly payments 

  Auto insurance companies have insurance tenures of 3, 6, 9, and 12 months, for which customers need to make a full payment. In recent years, these companies have introduced an installment … Click here to read more

• Auto Insurance Coverage Tips For New Cars

  by Hayden Krueger

  Who doesn’t love the feeling of a new car? The clear glossy paint, the alluring smell of the new car and the thrill of impressing all your friends and family members! However, all this can be short-lived if something happens to your brand new car. Are you adequately insured to cover its repair bills? Many people find out a little too late that they don’t have adequate insurance, but by then the damage has been done! 

  Cover 

  If the third party (other driver) involved in the accident doesn’t have insurance, or has inadequate insurance, the government of the United States protects you and you can sue the other driver for damages. It’s no secret that court cases are not something either party can take lightly. Even though you are right, you will still need to pay for legal fees. Insurance claims that go to court don’t generally get settled quickly … Click here to read more

• Auto Insurance Details For Dummies

  by Hayden Krueger

  A car is the second biggest investment a person is likely to make, the first being a house. Risk management is a financial scheme wherein the owner of an asset approaches a bank to insure the asset. The bank bears responsibility to reimburse the customer of any losses he/she may incur due to damage or loss of the asset, the customer in turn pays the bank a monthly or annual premium for this service. The bank or the insurance provider decides on the premium by analyzing the risk factors involved. The risk factor of an asset is based upon its value and the chances of it being stolen or destroyed. If anything does happen to the asset, the insurance company initiates an investigation into the matter to ensure that the loss or damage wasn’t intentional. If the case is legitimate, the insurance company makes the payout of the sum insured … Click here to read more