Most Recent Auto Insurance Guide in Factors That Affect Insurance Rates

  • How to Find A Low Cost Car Insurance Rates

    by Hayden Krueger

    There is nothing quite like driving your car and knowing that you paid less on your car insurance. For those who are looking for ways to reduce their car insurance rates, below are some tips for you.

    Ideally, the one who gets the lowest insurance rate is a mature female, driving in a four-sedan car equipped with the latest anti-theft devices, 800 credit score and above, and a squeaky-clean driving record for like 30 years. Undoubtedly, if you are, then expect car insurers to give you the best and lowest insurance rates on earth!

    The reason is quite simple; it is what the actuarial tables are showing to the underwriters. This person will have the lowest risk of an accident and that filing an insurance claim is highly unlikely. Insurance companies love people when they do not file a claim; it is how they make money. The more like her, … Click here to read more

  • Types of auto insurance policies in the state of California

    by Hayden Krueger

    There are a wide range of options to choose from with regard to auto insurance in the state of California. But before going for any one type of insurance policy, it is always better to be informed about the various types of policies available in order to make a decision as to which one would best suit your needs.

    The most common type of auto insurance policy in the state of California and the whole of the United States of America in general is the third party insurance policy or limited insurance coverage policies. Such policies are basically taken just to conform to the laws of the state. Or in other words, these policies will satiate the basic liability limits in the state. The basic liability limit for injuries or death sustained by an individual in an accident is $15000 and for all the people involved in the same accident, … Click here to read more

  • The Careless And The Cautious: The Battle For Low Cost Insurance

    by Hayden Krueger

    Undeniably, teen drivers are the careless brats, easy-going, bring along many noisy and rowdy friends and get easily distracted. On the other hand, the senior drivers are the careful and cautious type, which leads to the assumption that they deserve a low cost insurance – right? Many insurance companies could not answer “yes” or “no” – for a few good reasons.

    Insurance companies offering home or life insurance are basing their insurance computations on a more stable and predictable element. For instance, underwriters will likely to use the genetic history, health or lifestyle to determine the lifespan of the policyholder. Likewise, in the case of home insurance, insurers will consider the probability of wildfires, earthquakes or flooding in setting up the rates.

    As they say, you cannot compare orange from apples or home from auto insurance. Both are used to cover losses but works entirely different from the other. Auto … Click here to read more

  • Identifying The Factors That Could Influence Your Auto Insurance Premium

    by Hayden Krueger

    Florida has the busiest streets across the United States and expensive auto insurance as well. If you want to know why you are paying that much and one of your friends is not, then this article will show you why.

    There are many factors that will influence the calculation of your insurance rates, the driving record and the vehicle itself to name a few. There are people who drives around with cars with all the safety features installed but the driver records are just outrageous. There are also drivers out there that drives with the most exotic and expensive cars in the planet and yet achieved to maintain a spotless record. Again, there are drivers out there who are in between the spectrum and in all places. Because of the so many variations from the cars to the drivers, auto insurance rates are calculated differently.

    Each insurance company has their … Click here to read more

  • How To Reduce Your Auto Insurance Rates In Illinois

    by Hayden Krueger

    Are you in the State of Illinois and wanting to reduce your insurance rates? Amazingly, here are few tips that worked for me and will surely work for you too, to find the best deal of auto insurance in your area. What we are going to discuss here is how to find affordable insurance rates in IL and find that perfect company who can offer the right coverage with the cheapest price.

    In the U.S., each state differs from the other when we talk about auto insurance. Illinois has its own sets of requirements that you need to comply if you want to drive around the state. The State Law mandates that all drivers be required to have a liability auto insurance. This policy takes care of the expenses incurred during the accident by which you are at-fault.

    The minimum liability coverage of IL auto insurance is set to 20/40/50. … Click here to read more

  • Factors Considered by Auto Insurance Companies Before Deciding the Rates

    by Hayden Krueger

    There are various types of coverage provided by auto insurance companies. Coverage is provided for accidental damage repairs. Coverage is also provided for medical expenses in case of accidents. Auto insurance companies also provide coverage for theft. However, the insurance premium is not the same for everyone. The rates vary from person to person based on various factors.

    Age of the Car owner

    Interestingly, the insurance premium depends on the car owner. Housewives and seniors are less likely to drive the car a lot. Hence the chances of accidents and thefts being much less, the insurance premium too would be less. The premium is found to be the highest for middle aged working men who seem to use the car the most and hence are the riskiest age group for insurance providers.

    Credentials of the insurance policy holder

    The credentials of the insurance policy holder also influence the insurance rates. … Click here to read more

  • Considerations to factor in when selecting the auto insurance for your needs

    by Hayden Krueger

    Car and vehicle insurance in general is much sought after. Every Vehicle owner must and eventually will get his or her vehicle insured. The reason why vehicle insurance has become so important is that it protects one from the high costs of repairing a vehicle should it come to be damaged. Repairing a vehicle can be a costly business. Most automobile parts are very expensive, with the price tag escalating with the model and showroom price of the vehicle. The costlier the car, the more expensive it will be to refit it with parts and components. 

    Small repairs are manageable, but the chances are that accidents would leave the car or bike in a nearly unrecognizable state. Therefore, vehicle insurances come in handy. These days, insurance companies have come up with all sorts of insurance policies to cater to the specifications of customers. These companies also factor in a lot … Click here to read more

  • Auto considerations – What insurance Companies are looking at

    by Hayden Krueger

    Insurance companies in the U.S have only been going from profit to better profit. The growth in other sectors such as the automobile market has affected the growth rate of the insurance sector. Understandably, the features of the policy have changed with the changing need. The most popular forms of auto insurance in the U.S are currently the liability policy and the comprehensive policy. Both policies cover damages sustained during an accident. 

    The need for auto insurance 

    Auto insurance like life insurance, property insurance and health insurance undertakes reimbursement for damages sustained. The likelihood of an accident on the road has increased tremendously. With the amount of traffic and the speed at which some vehicles operate it is a wonder there aren’t more accidents. There are various types of auto insurance policies. Other than the blanket policy that covers general reimbursement, there are several other policies devised by the insurance … Click here to read more

  • Vary the factors affecting car insurance to get some of the best deals

    by Hayden Krueger

    We all know that having a car is an indispensible part of our daily routines. If we decide to invest in a car we should also be able to take care of it and ourselves when out on the roads. Having car insurance is a vital part of our security in day to day life.  Many different factors decide how much of a premium must be paid by various car owners based on the requirements. These factors are statistically determined by research done on various risk factors by people. The important determinants in most cases are the gender of the driver, driving history, age, and use of vehicle among others.

    Vehicle insurance also depends on what type of coverage you take, It could be third party insurance or insurance of vehicle, person’s medical coverage, personal injury and so on.  There is a minimum premium set by the government based on … Click here to read more

  • Critical Factors That Have An Impact On Your Auto Insurance Premiums

    by Hayden Krueger

    It is not rocket science to understand how insurance rates work and what is the logic applied by insurance companies when they determine the premium you will have to pay. The simplest way to put it is that the insurance companies charge a greater premium for those cases where the risk of claims is higher. In other words, safer the car, lower is the premium. It can also be extended to say that safer the driver, lower is the premium.

    Even before we find out about the factors contributing to risk, it is good to know that insurance rate is brought down by having higher deductible irrespective of the risk profile. If you are confident of yourself and are willing to pay more when the accident or theft or any other damage actually happens, you get a lesser premium to pay. Interestingly, the mileage of your vehicle determines the insurance … Click here to read more

  • How Your Car Security Features Affect Your Insurance Rates

    by Hayden Krueger

    Car theft is everywhere and continues to rise dramatically each year. Because of the need of the car owners to protect their investments, many car manufacturers have resorted to develop new ways to combat and help drivers protect their vehicles from thieves.

    Products such as motion sensors, remote boot, and car alarm systems have been in the market for years.  Highly sophisticated systems such as the global positioning satellite receivers, black boxes, and other instruments that hook you up with web services are becoming more common.

    I outlined below few of these hi-tech gadgets that you can install to increase the security features of your car. 

    Black boxes. Part of the automatic system that resides inside the car and its main purpose is to monitor all its activities. It has a small recorder capable of storing data from the car’s control systems. The stored data in the black box can … Click here to read more

  • Bad Driving Record: An End of Your Driving Career?

    by Hayden Krueger

    Are you one of the many drivers whose driving records are smeared with violation tickets and accident records? Maybe you thought that you are not going to save on your insurance premiums – ever. Well, that assumption is not entirely correct because there are still ways to save money on your insurance premium.

    The first thing that you should do is to improve your driving record. A lot of drivers violate speed boundaries, traffic signs and signals, and above all being careful in driving. Additionally, it is also a good idea to settle down as fast as possible, any debts that could affect your credit history.

    Choose what is best for your pocket. Needless to say, expensive cars command for high insurance premium rates. If you drive a less expensive vehicle, you could opt not to use insurance coverage that you do not need such as comprehensive or collision coverage. … Click here to read more

  • Protecting Classic and Antique Automobiles

    by Hayden Krueger

    Collecting rare pieces of art, jewelries, stamps or antique furniture have long been regarded as a unique source of excitement for countless people. In fact, there are even those who spend a fortune to start a classic and antique automobile. These rare pieces of craft are priceless and every care is to be taken to preserve them. Taking care of a vintage automobile is not a cheap pastime and therefore, the need to protect them should be the outmost priority.

    Unfortunately, when these items are stolen or damaged many of its owners will be shocked to know that their priceless automobile collections do not even have a full covered by any type insurance even with their regular homeowner’s policy coverage.

    Perhaps you might be wondering if a regular insurance coverage is enough to cover your vintage collection – the short answer is no. They are different in many aspects, and … Click here to read more

  • Few More Ways to Raise Your Auto Insurance Premiums

    by Hayden Krueger

    A good driver knows that if he wants to pay high premium rates, all he need to do is to involve in a car accident, collect citations for car speeding or perhaps being convicted for using drugs or alcohol when driving. Well, here are few additional traps that we have identified and surprisingly, most people do not mind them at all.

    For those who like to tinker their engines or with road daredevil partners, this one is for you.

    Horsepower and Premium

    You may have observed that a large vehicle with a powerful engine will definitely cost you high premiums as compared to small and low-powered engines. But what many drivers failed to understand, is that the moment you increase the horsepower of your car by adding high performance heads, high flow exhaust systems, turbochargers or all of the above – there is a likelihood that your insurance premium will … Click here to read more

  • Learning Defensive Driving 101

    by Hayden Krueger

    Is it true that being a defensive driver can help reduce your insurance premium? Read on.

    I am not sure if you have heard this story already about a man who filed his first insurance claim after 34 years of driving. Asked how he managed to achieve it, he graciously answered that he simply assumes that all drivers on the road are there to hit him. Although this situation is a bit paranoid and not exactly the situation where we all want to be, but his driving habits are all attributed to defensive driving Sadly, defensive driving is no longer as common as they used to be.

    Few Tips about Defensive Driving

    Be a loner

    Have you noticed on freeways and highways that drivers tend to pack themselves together? This amazes me a lot and the bitter truth reveals the all-time high 90% collisions occur for that situation alone.  Why? … Click here to read more

  • The Teens And The Insurance Company

    by Hayden Krueger

    In the United States, if you are 18 and you passed the driving test, you are eligible to get a valid driver’s license. In some countries, teens as early as 16 years old can obtain a full-pledged driving license, but that is another story.  As with any agent would tell you, insuring your sons or daughters these days is pretty much expensive.

    The reason behind, is that teen car insurance is considered as a high-risk coverage most especially for the male drivers. Any insurance providers would agree that drivers from this age group usually engage in risky driving habits and irresponsible behaviors. Additionally, today’s modern cars are equipped with attention-grabbing devices such as radios, CD players, iPods, the use of mobile phones while driving and carrying rowdy and noisy friends that eventually distracts the guy behind the wheel. The situation gets even more alarming when the National Highway Traffic Safety … Click here to read more

  • Are You Paying That Much Or Less?

    by Hayden Krueger

    People who are living in North Dakota are enjoying the lowest car insurance rates anywhere in the United States, according to the recent survey. If you are feeling otherwise, then something must be wrong with you, kidding.

    On the average, North Dakotans are paying $512 a year for their car insurance policies. Iowa, landed on the second spot with just well over $518 a year.

    These rates vary year after year, but generally, these rates are being enjoyed by the drivers in the Great Plains (having the lowest rates in the U.S. soil), then followed by those situated in the southeast regions.

    So what is the most expensive city?

    New Jersey is on top of our list, followed by Washington DC, New York and Massachusetts.  This no longer surprises us because from DC down to Boston – huge bustling cities are everywhere.  As we all know, busy cities with a … Click here to read more

  • Medical Costs Are Raising Michigan’s Auto Insurance Premiums

    by Hayden Krueger

    When it comes to medical advancement, there is no doubt that America has the best health care services in the world. The high cost of medical services could justify such but many thought that they are getting for less.

    The defects in the U.S. health care system will have a direct impact to the auto insurance industry. It has been noted that the medical treatment in this country rises up to 40% each year. And since portion of your auto insurance policy covers injuries during the accident, insurance providers would need to pass the said increase to their policyholders for the business to remain profitable – this situation happened to Michigan this year.

    All states in the U.S. have some sort of “no fault” insurance law, but in Michigan, they are carrying it in a different way. Apparently, the reason for the increase of auto insurance rates in Michigan was … Click here to read more

  • Women Drivers: Making Our Roads Safer

    by Hayden Krueger

    When it comes to driving, men are far better than women. But if we talk about risk, auto insurance companies tend to be on the women’s side – the actuarial table’s verdict.

    There were numerous studies conducted to support the validity of these claims. Just recently, a study from Carnegie Mellon University (CMU) and reports from Insurance Institute for Highway Safety (IIHS) indicates that women drivers are indeed less risky on the road.

    What the data is showing us

    Back in 2007, American Automobile Association decided to sponsor a controlled study to determine how often men or women are involved in an accident. When the report was finally revealed, it was found out that men are more likely to be killed in a collision accident than women. On the same year, IIHS has recorded at least 14,500 traffic facilities involving men and only 6,000 amongst the women group.

    Will age … Click here to read more

  • Auto Insurance – Understand what you are paying for

    by Hayden Krueger

    Auto insurance is one of the basic necessities for every driver. It is to safeguard you monetarily in any unforeseen circumstances. All states in USA require you have at least a basic car insurance that adheres to certain standards set by states. Every state has different requirements for insurance. Some states do not have specific insurance requirement, but it requires documents demonstrating your financial capabilities to handle accidents. It is strongly recommended that you have auto insurance once you own a car, but sometimes, the premium you have to pay can be overwhelming. Premiums for auto insurance vary greatly based on a number of factors: 

    Vehicle mileage:

    Premiums are directly proportional to the use of your vehicle. The more you drive and increase the mileage, the more premium you will have to pay. The logic behind the rule is the car is more prone to risks with increased usage. The … Click here to read more