Auto Insurance Guide Archive for 2010

• The Basis in Computing Premiums

  by Hayden Krueger

  Looking at your monthly bill, you are sometimes wondering why you are paying a large amount of money on your car insurance alone. Two people living in the same location have different amount in their premiums. This is because there many guidelines followed by car insurance companies in determining premiums for specific persons. The calculation may be provided by the state law and/or insurance companies whichever may apply. The fact is, jurisdiction of laws greatly affect premiums.

  Here are the bases in calculating premium charges. It may still vary according to jurisdiction but more often than not, car insurance companies have logarithmic computations on the premiums to be paid base on these criteria.

  Gender- according to studies decades ago, the number of accidents involving male drivers is higher than those of female drivers. So there is a greater chance that a lady driver will pay a lower premium based on … Click here to read more

• Online Shopping for the Best Auto Insurance

  by Hayden Krueger

  Nowadays, the increase of motorists in the streets is very noticeable. In this case, more cars mean more car insurance companies, to meet the demands of all the drivers. Choosing the best one requires a lot of time and effort. It is also frustrating since there are different offers and this sometimes can give confusion to the person scouting for a good insurance quote. But then, there is also a greater probability of getting a good one.

  It is also a fact to note that technology is fast becoming more advanced as compared to decades ago. The internet is undeniably the most influential form of mass media nowadays. Almost everybody can access the internet. Even a seven year old boy can go online, especially given the fact that there are many services offered for the youngsters online.

  In lieu to this fast-track advancement of the worldwide web or the internet, … Click here to read more

• Cheap Car Insurance: a Great Help in Case That you Need It

  by Hayden Krueger

  The roads nowadays are occupied by more vehicles as compared to decades ago. It also goes with the numbers of drivers that have actually more than tripled. Car insurance companies also increased in numbers as car and car owners’ number grew.

  What is the importance of having auto insurance?

  In the United States of America, it is mandated that a driver should carry at least the minimum coverage specified by the state’s law. But with the economy going down and recession hits the market, every person is trying their best to at least save or even free them from responsibilities.

  Consider car insurance for example. If it is not mandated by law, most people would opt out to having one for sure. If you come to think about it, it is not only mandated by law but also it is your protection, in any case that you will be involved … Click here to read more

• The Importance of having Liability Auto Insurance

  by Hayden Krueger

  The different states in the United States of America provides different amount of car insurance coverage. The question on how much amount of insurance do you needs also depends on the state’s law that you have. There are states that require only a minimum amount but there are also those that give higher amount. So, it is wise to know the minimum car insurance coverage that is mandated by your state’s law. From there, you can start comparing insurance quotes from insurance companies to determine what additional coverage that you would want to avail aside from those mandated by law.

  Once you understand your legal responsibilities according to your state law, you are now ready to analyze the different quotes presented to you. There is much coverage to choose from. Here is an example of one coverage that you might need what is the importance of having one.

  Liability auto … Click here to read more

• The Troublesome Search for the Right Car Insurance

  by Hayden Krueger

  Not all people have the same needs. Every person’s needs depend on the lifestyle they are into. Same goes to car insurance policies. Your friend’s insurance policy may be very good according to him. But remember, the term very good is applicable to him because his premium is meeting his needs. And sad to say, your needs will be different from him.

  How can I find the right auto insurance for me?

  This is the most common question that we usually hear from those who are looking for car insurance. Most common question yet there are many possible answers that you get coming from different individuals.

  A car insurance agent may suggest a good one, but remember that he is working for a company therefore his idea is expected to be on the side of the company.

  Your friends may suggest another insurance policy. Taking a closer look, your friend’s … Click here to read more

• Understanding Rental Car Insurance

  by Hayden Krueger

  If you have difficulty in buying a new car, you might opt to rent a car. But getting proper auto insurance for a rental car is a process full of uncertainty and confusions.

  Should I get policy from the rental company? Does my policy cover rented vehicles? Am I covered if I use my credit card to rent the car? All of these are questions that come to mind when thinking about obtaining auto policy for a rental car.

  To help you answer these questions, take these steps so that you will understand the basics of rental car insurance.

  The first important step before renting a car is to see your current auto insurance coverage and with your credit card companies. You should determine what kind of rental auto policy you already have in place. Having some background knowledge before you enter the process with renting a car is very … Click here to read more

• Important Things to Do when Filing a Car Insurance Claim

  by Hayden Krueger

  Having trouble regarding how to do an auto insurance claim? This is something no one ever wants to do. This would mean that your car needs to repair or replaced. Getting into accident can surely be stressful. The following steps below will help you go through the process of filing an insurance claim.

  The very first step you should do is to think carefully if you really need to file a claim.  It is risky to file a claim, even if it is not your fault or when your car is stolen.  This is because your company will still see you have more risks, and they will raise your rates when you file a claim.

  Remember also that whenever your car has a minor damage, it is not worth filing a claim. You just pay the deductible. It will not increase your premium.

  Second step is to call your auto … Click here to read more

• Essential Factors That Determine your Insurance Rates

  by Hayden Krueger

  What are some factors that could influence your car insurance rates?  Knowing these factors could help you find ways to lower your rates.

  If you are deciding to buy new car, you should care for the monthly payment of your policy.  New cars are more valuable than use but they may pose higher rate.  They are taken as higher risk vehicles as newer cars are stolen more often than older ones. It will also cost much more for repair in case of accident.

  Remember also that luxury cars can only be repaired or serviced by dealerships. Buying a used car rather than a new one can save you money not only in the purchase price, but in years of insurance premiums.

  Aside from getting used car, your credit history will affect your car insurance.  Companies will get first your social security number when you ask for a quote. They do … Click here to read more

• Some Important Considerations To Know Regarding Car Insurance Costs

  by Hayden Krueger

  Dreaming of low cost car insurance? 

  This is possible. But before that, there are a lot of considerations for the price of your policy.  

  First is, companies will look at your driving record, as well as where you live and drive and your car. If you have good driving record and drives at low risk area will help you get lower rate. 

  Second thing to remember is that there are also state-specific rules that might affect rates. If you paid $1,000 for car insurance in Iowa and then moved to Silicon Valley, you could pay two or three times more for the same coverage. Living in California will let the customer pay higher premiums. There are lot of traffic, accidents, auto thefts and related risks of loss in this state.

  Auto insurance companies of every state have also minimum insurance requirements. These are only minimum requirements that would only satisfy … Click here to read more

• Car Insurance Debate: Women are Better Drivers than Men?

  by Hayden Krueger

  Many an auto insurance company actually believes that women are safer and more responsible drivers than men. Such companies consider women as better insurance risk and can therefore benefit from lower insurance premiums.

  However, it is also true that there are a lot more factors that affect insurance premiums other than gender. In fact, being a male or a female per se does make higher or lower premiums. It is actually their tendencies as a driver.

  There are some contributing factors that might pose a greater accident risk for males, according auto insurance specialists. One is overconfidence of male drivers. This is why they often do showing off while driving in the road. Some men do not recognize safety precautions of driving because of high self-belief.

  Male drivers were also found out to do excessive speeding than women. It is maybe due to their attitudes as active and aggressive. Most … Click here to read more

• Getting Car Insurance and Availing Discounts for Teenagers

  by Hayden Krueger

  One of the most popular dreams of teenagers is to get their own car while on college. But owning a car means purchasing car insurance. This is required for you to stay protected against great financial loss for the teenager’s parents.

  Just like older car owners, there are requirements needed in filing for a student policy.  Both parents ands their teenagers can also find ways to avail discounts for their policy.

  Companies will ask for the personal information of the teenager driver. Age and gender will be known.  They will also investigate the future client about his/her the driving history, driving frequency and distance. Even the location of the vehicle and its damage history are known. This essential information also applies to all other applicants.

  Age is important because the younger the driver is, the higher the premium will be. Older drivers are perceived by car insurance companies to be … Click here to read more

• Motorcycle Insurance 101

  by Hayden Krueger

  People who want to have motorcycles as their main mode of transportation should have knowledge on motorcycle insurance. This article discusses important points to note in motorcycle indemnity.

  Motorcycles, similar to cars, are also in need of insurance. This is because it is still a vehicle required to have insurance before it can be taken out for a drive legally. Just before you rev up that motorcycle and hit the highway, you are required motorcycle insurance.

  Car insurance companies have noticed the great increase of number of motorcycle owners and drivers so they have created a division in which motorcycle enthusiasts are prioritized with the special policies for motorcycles. But the method is still the same and motorcycle owners are still assessed in two categories of criteria: the intrinsic and extrinsic factors.

  Here are the intrinsic factors:

  First time owners of motorcycles must have awareness that the condition of the … Click here to read more

• What your auto insurance company is hiding from you

  by Hayden Krueger

  The model of car you own affects your insurance premium

  Most people are aware that expensive cars attract higher premiums, but they aren’t aware that some old cars can also attract a high premium. Cars which are popular amongst burglars and thieves are high on the list of cars that are expensive to insure too; be sure to ask your insurer if your car is in this list before you buy a used car.

  Monthly payments attract installment fees

  An average customer is very pleased with the option to may their insurance premium in monthly installments and will not be bothered to ask if there are any financial implications if he or she chooses to pay monthly installments instead of one big lump sum annual payment. The fees can vary from company to company and you should always ask them what your liability will be should you opt for a … Click here to read more

• What you need to know about buying insurance through a broker

  by Hayden Krueger

  Auto insurance brokers can be very helpful in your quest for the ideal insurance policy, however most experts suggest you don’t buy insurance thorough one, why?

  The good

  Auto insurance brokers can take all the hassle out of shopping for insurance and make the whole process relatively stress free for you. You don’t need to do the running about and locate quotes and bargain for discounts etc.

  This can be especially helpful if you run a business and are looking for business auto insurance, are insuring a family or a group of friends or colleagues under a group policy. In such group policies there is a bit of paperwork to be taken care of with regards to each person’s requirements, cover, extent of cover, and payment plan. An insurance agent can ease things for you and get all the ground work done at no cost to you. Insurance agents get … Click here to read more

• 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