Auto Insurance News Archive for August, 2009

  • Car Insurance Tips Explained to College Students

    by Jeanny Hopper
    Car Insurance Tips Explained to College Students

    With the start of another school year looming, parents are scrambling to get everything in order for students returning to colleges and universities across the nation. The economic pinch has certainly made its presence felt for many households. Rising education costs are also forcing many parents to cut back on several expenses, car insurance included. It is a well know fact that getting auto insurance coverage for young drivers can be quite expensive. Their relative inexperience in driving combined with reckless tendencies can lead to skyrocketing premiums for parents. However, car insurance is a necessity in 48 states and not … (more) August 14, 2009

  • Experts: Save 35% off Insurance by Comparing Quotes

    by Jeanny Hopper
    Experts: Save 35% off Insurance by Comparing Quotes

    In the latest show of support for online car insurance services, industry experts are claiming that policyholders who purchase their policies through the internet can slash more than a third off their premiums. According to data collected and analyzed by industry sources, car owners who have opted to look for insurance online have saved up to 35 percent of their regular rates. The amount is equal to hundreds of dollars, with the national insurance premium average at more than $1,800 annually. According to experts, a common misconception many Americans have about comparing insurance quotes online is that it is difficult … (more) August 14, 2009

  • Car Maintenance Needed for Lower Premiums

    by Jeanny Hopper
    Car Maintenance Needed for Lower Premiums

    Even with the national car insurance average at its lowest rate in over a year, insuring a vehicle is substantially more expensive nowadays than ever before. With the economic pinch taking its toll on job-seeking Americans and struggling families, the question of insurance costs is often highlighted. Car owners who think that auto insurance is unnecessary often pay for their assumptions dearly when they get in car accidents that drain their financial and personal assets. Despite the risk of losing thousands of dollars for car repairs and personal assets, a growing number of motorists are dropping their insurance policies to … (more) August 13, 2009

  • Student Auto Insurance Myths Debunked

    by Jeanny Hopper
    Student Auto Insurance Myths Debunked

    Rising tuition fees, growing credit card debt, and a weak economy are forcing many parents and college students to skimp on car insurance. With the assumption that auto insurance for young drivers is too expensive, many Americans are actually getting themselves in more trouble. Experts argue that car insurance is even more important for inexperienced young motorists because they have yet to build up good driving records. To help parents scale back their expenses for their children’s car insurance policies, industry sources have come up with answers and explanations for popular misconceptions and inaccurate notions. Contrary to popular belief, college … (more) August 13, 2009

  • Options Bared for Rental Car Insurance

    by Jeanny Hopper
    Options Bared for Rental Car Insurance

    Experts agree that the large volume of cars on American roads and highways this summer can lead to more accidents and consequently, more insurance claims. Most providers have anticipated this and have implemented sweeping changes to their premiums, raising some rates considerably. To avoid the inconvenience of bringing their own cars during lengthy trips, a growing number of Americans are choosing to rent cars from rental companies. While convenient, rental cars can give drivers more problems. The question of insurance often comes into mind whenever motorists rent vehicles for business or pleasure. To allay these fears, most rental companies offer … (more) August 12, 2009

  • Parents Look for Ways to Save on Car Insurance

    by Jeanny Hopper
    Parents Look for Ways to Save on Car Insurance

    With the economy showing very little signs of recovery, many American parents with teen drivers are turning to just about anyone for insurance advice. Because young motorists are more costly to insure than regular adults, families often cut back on other basic needs and unnecessary expenses. The economic slowdown, however, has inevitably changed how Americans prioritize their expenses. For once, a growing number of car owners are starting to increase deductibles, with some even dropping policies altogether. Industry experts, on the other hand, strongly recommend finding other alternatives to getting rid of insurance. Driving without insurance is illegal in … (more) August 12, 2009

  • Experts List 10 Least and Most Costly Cars to Insure

    by Jeanny Hopper
    Experts List 10 Least and Most Costly Cars to Insure

    In an unexpected turn of events, average car insurance premiums across the U.S. are the lowest in a year. News of the economy’s early recovery and better than expected job data has resulted in decreasing insurance premiums among major providers in most states. The latest figures, according to surveys, puts the average auto insurance premium at $1,871. The latest news surprised industry experts who expected higher than usual premiums this year because of the expected increase in the number of uninsured drivers. Major insurance companies previously expressed intentions to raise insurance rates in the face of more uninsured and underinsured … (more) August 11, 2009

  • Insurance Tips for Young Drivers Bared

    by Jeanny Hopper
    Insurance Tips for Young Drivers Bared

    Car insurance companies determine insurance rates and premiums based on several factors. For adult motorists, the type of car they drive often plays a crucial role in assessing insurance rates. Driving records come second. Drivers belonging to other age groups, on the other hand, are assessed based on their driving experience and physical capabilities. Young motorists are considered by providers are relatively inexperienced, hence the higher premiums. Companies also rely on different studies and surveys to come up with insurance premiums. Statistically speaking, drivers under the age of 25 are more likely to get involved in car accidents. In fact, … (more) August 11, 2009

  • Rental Car Insurance: A Closer Look

    by Jeanny Hopper
    Rental Car Insurance: A Closer Look

    Insurance researchers are urging car owners and motorists to rethink the way they perceive insurance offers made by rental companies. In the past, industry specialists often recommended ditching signing a “collision damage waiver” or CDW, when renting a car. Apparently, even insurance agents called the CDW a “hassle insurance” because of the delay and problems that arose if a policyholder avails of it. Experts often advised policyholders against signing on for a CDW, adding that it is often too expensive and unnecessary. Agents would also tell clients that these agreements are only significant because they release the policyholder from any … (more) August 10, 2009

  • One in Three Say Number of Uninsured Drivers Climbing

    by Jeanny Hopper
    One in Three Say Number of Uninsured Drivers Climbing

    A recently conducted survey has revealed startling conclusions for a growing number of like-minded American motorists. According to research done by the Insurance Research Council (IRC), one in three drivers believe that as many as 40 percent of motorists on the road have no car insurance. While their conclusions may not have come as a surprise to industry experts who have expected this kind of reaction, the findings are forcing many analysts to rethink how they treat public perception. In recent months, there have been numerous surveys and studies conducted to figure out how the exact numbers of uninsured drivers … (more) August 10, 2009

  • Expensive Cars More Costly to Insure

    by Jeanny Hopper
    Expensive Cars More Costly to Insure

    Industry sources say that auto insurance companies rely on different factors to determine premiums. These factors contribute greatly to the insurance costs that car owners have to shoulder. Credit scores, driving records, and the make and model of the car all come into play when insurance providers assess a potential customer and come up with rates. Experts contend that one of the most influential factors is the kind of car policyholders drive. Insurers typically base rates on the risks involved with certain car types. For example, high performance sports cars are more expensive to insure compared to modest cars. Large … (more) August 9, 2009

  • Insurance Money-saving Tips Revealed

    by Jeanny Hopper
    Insurance Money-saving Tips Revealed

    Studies have revealed that a growing number of American car owners are making use of new ways and technology to find auto insurance. Industry sources say that the number of applicants have increased significantly in recent years, thanks largely to the internet. Most insurance providers now have fully functional websites that cater to the needs of potential clients. Majority of these companies also sell insurance policies online. The internet has also given insurers an edge over competitors, especially since more and more drivers are choosing to shop around for better premiums, rather than stay with their providers. This has generated … (more) August 9, 2009

  • Auto Insurance Rates on the Rise

    by Jeanny Hopper
    Auto Insurance Rates on the Rise

    Industry sources have revealed that car insurance premiums are climbing in the U.S., thanks in part to the poor performance of the economy. With unemployment on the rise, more and more Americans are choosing to increase deductibles or even drop their policies. Insurance companies say that this is one of the main reasons for higher premiums. Because of more uninsured drivers on the road, providers point out that they have to raise insurance rates to cover any expenses involving uninsured motorists. Analysts also blame the sudden spike in insurance fraud cases for the climbing rates. California state officials recently admitted … (more) August 8, 2009

  • Experts Remind Americans to Maximize Coverage

    by Jeanny Hopper
    Experts Remind Americans to Maximize Coverage

    The poor economy and the alarming statistics regarding auto insurance has prompted industry experts and analysts to regularly remind car owners of their insurance policies. Studies suggest that the number of uninsured drivers is closely tied to the nation’s unemployment rate. With more Americans expected to lose their jobs by the end of the year, analysts say that the U.S. can expect more uninsured drivers on the road. In fact, the state of California says that an estimated 20 percent of its motorists will be uninsured by the end of 2009. The spike in the number of uninsured drivers is … (more) August 8, 2009

  • Firms Offer Temporary Car Insurance

    by Jeanny Hopper
    Firms Offer Temporary Car Insurance

    Major auto insurance companies are reiterating offers of temporary car insurance for car owners looking with specialized insurance needs. To help combat the economic recession hitting the U.S., providers are starting to offer special insurance policies for short-term periods. Most states allow insurers to provide clients and policyholders temporary insurance coverage for special cases. According to experts, any coverage lasting for less than a year can be considered temporary. Typically, they say, the coverage period for this type of insurance lasts anywhere from one to 28 days. Because of the harsh economic situation, more and more Americans are turning to … (more) August 7, 2009

  • Insurance Agents Preparing for Rocketing Car Sales

    by Jeanny Hopper
    Insurance Agents Preparing for Rocketing Car Sales

    As car dealer across the U.S. are trying to catch up with the skyrocketing demand for new cars, insurance agents are also preparing themselves for the expected numbers of new car owners. Even with the troubles encountered by the “cash for clunkers” program, insurance providers are expecting to see a sudden spike in the demand for new car insurance. Industry sources have revealed that agents are preparing for the arrival of car owners searching for the perfect insurance policies for their newly acquired vehicles. Earlier last week, the federal government’s Car Allowance Rebate System (CARS) was suspended on fears that … (more) August 7, 2009

  • Specialists Recommend Full Car Insurance Coverage

    by Jeanny Hopper
    Specialists Recommend Full Car Insurance Coverage

    Even with the U.S. economy showing signs of an early recovery from the economic recession, more and more Americans are still cutting back on car insurance. Worse, some drivers are even choosing to drop coverage just to save money. Experts say that doing so can have severe consequences especially since statistics indicate that the number of uninsured drivers is increasing dramatically with the rising unemployment rate. In fact, some states like California expect the number of uninsured motorists to balloon to 20 percent by the end of the year. More uninsured drivers on the road will mean higher insurance expenses, … (more) August 6, 2009