CAR Insurance

Green Car Insurance – A Good Idea? | The Car Insurance Blog

2009-03-09T17:51:00.000-07:00

Green Car Insurance – A Good Idea? | The Car Insurance Blog

How to Save Money on Car Insurance

2009-03-07T09:01:00.000-08:00

How to Save Money on Car Insurance, Even if You Own a Performance Vehicle

Money is tight, so a little research before you buy anything can always save you a few dollars. This is especially true for car insurance, where the savvy shopper can take steps to significantly reduce his car insurance premium. For a performance vehicle, which is automatically considered a higher risk than the family car, the owner can be faced with car insurance rates that are a significant financial burden.

Performance vehicles can be roughly categorized as either stock, such as an out-of-the-box production Ferrari F430 Spider, or modified, like a Honda Civic in which the standard engine has been swapped and turbocharged using a 200 horsepower H22A4- 2.2L DOHC VTEC from a Honda Prelude. The owners of these two vehicles may differ widely in their ability to afford a large insurance premium.

Insurance companies set an individual's car insurance premium according to an insurance rate tier system which factors in as many as 384 parameters. Insurance companies are taking a lot closer look at the type of car you drive to determine your premium. Shopping for a car insurance company which sets rates according to multiple tiers can ultimately save you money.

You can cash in on significant car insurance rate discounts by lowering the risk that you and the type of car you drive represent to your insurer.

By installing an anti theft device, such as the LoJack System, some insurers will lower your insurance rate by as much as 30%.
In many states, it is legal for insurers to use your credit rating to determine your rates. Repair any errors on your credit report and pay your credit card bills on time to boost your credit-based insurance score.
Qualify for a Low Mileage Discount by driving less by using public transit and carpooling.
Moving violations and other traffic citations will increase your rates. Repair any outstanding infractions on your driving record that can be erased by attending driver safety classes. You may qualify for a Safe Driver Discount.
Many insurers offer discounts for attending Defensive Driving Classes when not used to erase a traffic citation.
Installing safety features, such as anti-lock brakes, traction control, airbags, and restraint equipment will lower the risk of injury and lower your insurance rates.
Your car insurance can be lowered by as much as 10% for every year you drive without an accident, so choose wisely those times when you exercise the "performance" qualities of your vehicle.
You may qualify for a Good Student Discount if you provide your insurer with a copy of your grades.

Owning, maintaining and operating a performance vehicle can very rewarding and satisfying; with the proper research and preparation, you can obtain affordable car insurance while making yourself a better driver and your performance vehicle safer. As many ways as there are to increase the performance of your vehicle, there are probably as many ways to reduce risk and lower your insurance rates.

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Tips to lower your auto insurance costs:

2009-02-16T08:11:00.000-08:00

Shop Around- Compare the costs by shopping around at
least four to five insurance companies and comparing the quotes.
Take help of your friends, relatives, yellow pages
in this regard. Your insurance company should be of fair price
and with excellent services. Check the financial ratings of
the companies too as it define the strength and stability of
the company.

Ask for higher deductibles- Deductible is the amount of money
that you pay before making any claim for an accident.
Higher the deductibles lower will be the premium
rate. Increasing the deductible from $200 to $500 may reduce
the cost by 15 to 30 percent.

Drop collision and comprehensive Coverage on older cars- It
is advisable to drop the collision and comprehensive coverage
on your older car which is less than $1000 at cost as it
will not be cost effective.

Buy auto coverage from your existing insurer- This may help
you to reduce the cost. Sometimes low rates are available for
the longtime customers. But it makes sense to shop around and
ask whether the discount is available or not.

Avoid double health coverage- If you think that you have enough
health insurance, then avoid another health coverage with your
auto policy. This will help you to reduce the cost.

Maintain a good credit record- Insurers are using the credit
history while determining the price of insurance. Statistically,
the lower your credit score, the more you are likely to file
claims. A person with a good credit score is more likely to
settle the accident without making a claim.
Obviously the cost is likely to be low for such customers.

Discounts with low profile car- Before you buy a car consider
the factors which can push the cost of insurance up.
Cars that are expensive to repair, and attractive
to thieves, have higher insurance costs. This is true for sports
cars and other high-performance vehicles. It will be a good
idea to take some advice from the insurer regarding the coverage
of the car that you are going to buy.

Low mileage discount- You can obtain some
discount on premiums by driving less than the national
average mileage level per year.

Consult about group discount- Sometimes insurers provide discount
if you insure through group plans of the employing company,
or business groups, or other associations. Check if the options
are suitable for you.

Seek car safety discount- Keep air bag, anti-lock brakes,
anti-theft devices, automatic seat belt in your car, and
bargain for discounts on grounds of safety.

Investigate about other discounts- Some insurance companies offer
discounts for

more than one car,
drivers over 50 years of age,
driver training courses,
good grades for students.

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Understanding How Your Credit History May Affect Your Car Insurance Coverage

2009-02-10T13:06:00.000-08:00

Many personal auto insurance companies consider your credit information when determining how much premium to charge for your insurance. So if you are calling around for new insurance, keep in mind that many insurers are looking at your credit history. I hope that we will be able to let you know why and how they do this.

The reason that some insurance companies use credit information is because there is a direct correlation between consumer's credit history behaviors and expected claims that may occur. Therefore, they feel that people with better credit behavior are less likely to have severe insurance losses.

The companies that do use credit scoring will still use other factors in determining your premium. They will also use your age, driving history, type of vehicle, where you live in determining how much you should pay for your insurance. Therefore, if you have not established a credit history yet, the companies that use credit history may not be best for you. They may not allow you to be eligible for certain discounts, which could result in higher premiums.

Is it fair for an insurance company even look at my credit information without my permission? The answer is yes. The Federal Fair Credit Reporting Act says "Reasonable procedures. It is the purpose of this title to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of this title."

If you feel that your credit history is better then the insurer can find, make sure the insurer has your correct name, address, social security number, and date of birth.

Some insurance companies will look directly at your actual credit reports when determining your rate, however most will use what is called an "insurance credit score." An insurance credit score is developed by using statistical techniques and methods to predict the likelihood a consumer will have a higher than anticipated loss. These are similar to what lenders use to predict the reliability of an applicant repaying a loan.

Insurance companies use many factors in determining your credit score. Here are some examples of those factors:

Public records: bankruptcy, collections, foreclosures, liens, charge-offs, etc.
Past payment history: the number and frequency of late payments and the days between the due date and late payment date.
Length of credit history: the amount of time you have been in the credit system.
Inquiries for credit: the number of times you have recently applied for new credit, including mortgage loans, utility accounts, and credit card accounts.
Number of open lines of credit: the number of credit cards, whether you use them or not.
Type of credit in use: major credit cards, store credit cards, finance company loans, etc.
Unused credit: how much you owe compared to how much credit is available to you.

Your insurance credit score may differ from company to company, as they will use different factors in determining your premium. Notice that we call it an insurance credit score. This means that it encompasses many factors including credit.

Since each insurance company uses different techniques to determine your credit score it is hard to tell you what a good credit score is. Usually a good credit score will result in lower premiums.

Your agent or company is not obligated to tell you your credit score. In fact, they might not even know what it is. All they usually know is that your credit score qualifies you for a specific rate or policy. Some companies also offer better rates under each qualifying tier.

If you feel that there is incorrect information on your credit report, you should tell the credit bureau. If you report an error, the credit bureau must investigate the error and get back to you within 30 days. You can ask the credit bureau to send a notice of the correction to any creditor or insurer that has checked your file in the past six months. Once the errors are corrected, it is a good idea to get a new copy of your credit report several months later to make sure the wrong information has not been reported again.

The three national credit bureaus are:

Trans Union ( www.transunion.com or 800-888-4213).

Equifax (www.credit.equifax.com or 800-685-1111).

Experian (www.experian.com or 888-397-3742).

Tell your insurance company. Do not wait until the credit bureau investigates the errors to contact your insurer. Tell your insurance company right away and ask if the errors will make a difference in your insurance. If the errors are big, tell your insurer that you are disputing the information and ask if they will wait to use your credit information until the errors are corrected. Small errors may not have much affect on your insurance credit score. If the errors are big, it can make a significant difference in your premium. Some companies are unable to adjust the premiums until the score is corrected, but it does not hurt to ask.

If you have taken the steps to improve your credit score, you should ask your insurance company to re-evaluate your credit score at renewal.

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Simple Steps to Filing Your Car Insurance Claim

2009-02-10T13:02:00.000-08:00

Having even a teeny-tiny car accident can be one of life's least enjoyable moments. However, accidents happen, and sooner or later, we all have the experience of meeting one of our fellow road travelers up close and personal. Using the following seven steps to filing your claim will help you get over this speed bump as smoothly as possible.

They aren’t really accidents. They are more of an incident. Usually they are an incident that you would like to forget.

Understand your policy before a loss, sit down and carefully read your insurance policy. Call your agent or company if you have any questions about what is or is not covered.
Make sure everyone is okay and check to see if anyone needs medical attention. Even if your injuries are minor, you may still want to have them checked out at a hospital or with your family doctor. Minor injuries can become major, long-lasting injuries.
Exchange information when you are involved in an accident, get the other driver's name, address, phone number, insurance carrier, and insurer's phone number. Be prepared to give the same information about yourself to the other driver. You can find insurers’ telephone numbers on the proof-of-insurance cards that should be carried on your person when operating a motor vehicle.
Identify witnesses and ask witnesses to the accident for their names and phone numbers in case their account of the accident is needed.
File an accident report and contact local law enforcement officers to have an accident report prepared. If law enforcement is not reachable, accident reports and detailed instructions are available at all police departments, sheriff's offices, your local Department of Motor Vehicles office, and on your local Department of Motor Vehicle's website.
Notify your insurer by contacting your insurance company about the accident as soon as possible. An insurance adjuster will review the accident report to determine who caused the accident. If the accident was not your fault, you can have either your insurance company or the at-fault driver's insurance company handle the repair or replacement of your vehicle. If you use the other driver's company, you will not have a claim on your automobile policy and you will not have to pay a deductible.
Do not release insurers too early. Do not relieve your insurance company of its responsibility until the damages are settled to your satisfaction. For example, have your insurance company handle the claim if the other party's insurance company questions its policyholder’s negligence or offers an unacceptable settlement.
Consider these settlement factors.
- Bodily injuries: You may be entitled to a monetary settlement for injuries caused by another at fault (liable) party. It can take several days for some injuries to become apparent.
- Damages: The insurance company is responsible to pay for the reasonable cost of repairs to your vehicle. An insurance adjuster will assess the damage. Usually, insurance companies and auto body shops negotiate disagreements about what should be repaired. If you disagree with their conclusions, you have the right to obtain another appraisal at any auto body shop.
- Appraisal clause: Most auto insurance policies include an appraisal clause, which can be used to help settle disputes about physical damage claims between you and your insurance company. (The appraisal clause does not apply for claims you file with the other party's insurance company.) If you cannot reach an agreement with your company, you or your insurer can initiate the appraisal clause. Your appraiser and your insurer's appraiser then select an independent umpire to try to resolve the dispute. Check your policy or ask your agent or insurance company for more information about the appraisal clause.

And that is it. While filing a claim is certainly no fun, following these seven steps will make the process almost as easy as getting free quotes.

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Is Your Auto Insurance Company Rated?

2009-02-10T12:59:00.000-08:00

Several national rating institutions rate insurance companies. Do coverages, rates, and service vary from company to company? Why can you pay less with one company than another can for the same coverages? Choosing the best insurance company for you is a crucial financial decision. Does your insurance company have the financial strength to safeguard you and your family? If the company cannot pay future claims or benefits, other issues become far less relevant. Financial strength ratings are an analysis of a wide variety of risks that could affect an insurance company's long-term viability. Insurance companies have failed or ceased to operate due to inadequate financial strength, competitive forces, or changing dynamics in the marketplace.

Have you heard of the company where you are considering purchasing coverage? Do you have any experience with the company?

Ask your peers what experiences they have had. What is your sense of the reputation of the company? How quickly and easily are claims processed? Is there 24-hour claims service? Is the claims management in the house of the insurance company or have they outsourced? Auto insurance is meant to make you whole in the case of an accident with injury or property damage. It is to protect your assets and protect you from liability. You will want the peace of mind of a superior rated company when it comes time to manage and pay the claim. The financial health of a car insurance company is an often-overlooked area when shopping for the best auto insurance rate. It is human nature to make your comparison solely on the rates for the coverages. While this is certainly important, you should be aware of the company's overall rating and level of satisfaction. Consulting insurance company ratings is crucial. Each insurance company issues a quarterly report that is publicly accessible. You cannot always tell the future from the past. However, the past performance is a valuable insight into what expectation to have for your future coverage. One of the factors that are used in order to determine the companies' ratings is how long they have been in business. If there is no history, you may be taking an unnecessary chance. Look for a company that has a history and make sure that history shows good performance.

What about the reputation of the insurance company? It is very simple to find this information. Just ask around. There are your peers, the BBB, and family. Many times these resources closest to you will be able to share experiences that are favorable or unfavorable regarding the company you are considering. In addition, each state has a Department of Insurance that keeps public information about companies. Use all the resources you can to determine which company is best for you. Once you have paid for the policy, you will then become keenly interested in customer service. Be aware of what the source of information is regarding the insurance company. Many companies put our information about themselves in the form of illustrations that are intended to make them look as good as possible. Of course, while these illustrations must be factual, you should be aware that you are not receiving objective information.

How can you quickly check the company rating? You are on the internet now. Surely, there is a quick way.

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How Much Car Insurance Should You Buy?

2009-02-10T12:53:00.000-08:00

Car insurance is not very exciting. Depending on which state you live in, it could be a smaller or larger piece of your budget than your neighbors across state lines.

How much insurance should you buy?

Any insurance agent worthy of their salt will tell you that you should buy as much as you can afford. While this is a good rule of thumb, it is about as useful as a stockbroker’s tip to buy low and sell high. It might be sound logic but it does not get you any closer to an educated decision. A few filters need consideration in order to make that educated decision. First, what is the state required minimum coverage where you live? Second, what does the minimum cover? Third, what other coverage is available and can you afford it? Fourthly, what are you protecting?

You can use our easy Insurance Coverage Calculator or get an auto insurance quote to see the recommended coverage levels.

What is the minimum for your state?

The first two figures refer to Bodily Injury Liability Limits. For example, 20/40 means coverage up to $20,000 for each person injured in an accident, up to a maximum of $40,000 forth entire accident, and then you could have 20/40/10 with $10,000 worth of coverage for property damage.

What do the minimums cover?

Now that you know what your state requires, what are you actually covered for once you purchase the minimum? Using the coverage definitions that follow, find the types of coverage required and see what your state says is the accepted minimum.

Coverage Definitions

Bodily Injury Liability covers other people's bodily injuries or death for which you are responsible. It also provides for a legal defense if another party in the accident files a lawsuit against you. Claims for bodily injury may be for such things as medical bills, loss of income or pain and suffering. In the event of a serious accident, you want enough insurance to cover a judgment against you in a lawsuit, without jeopardizing your personal assets. Bodily injury liability covers injury to people, not your vehicle. Therefore, it's good idea to have the same level of coverage for all of your cars. Bodily Injury Liability does NOT cover you or other people on your policy. Coverage is limited to the terms and conditions contained in the policy.

Comprehensive covers your vehicle, and sometimes other vehicles you maybe driving for losses resulting from incidents other than collision. For example, comprehensive insurance covers damage to your car if it is stolen; or damaged by flood, fire, or animals. Pays to fix your vehicle less the deductible you choose. To keep your premiums low, select as high a deductible as you feel comfortable paying out of pocket. Coverage is limited to the terms and conditions contained in the policy.

Collision covers damage to your car when your car hits, or is hit by, another vehicle, or other object. Pays to fix your vehicle less the deductible you choose. To keep your premiums low, select as large a deductible as you feel comfortable paying out of pocket. For older cars, consider dropping this coverage, since coverage is normally limited to the cash value of your car. Coverage is limited to the terms and conditions contained in the policy.

Medical Payments covers medical expenses to you and your passengers injured in an accident. There may also be coverage if as a pedestrian a vehicle injures you. Does NOT matter who is at fault. Coverage is limited to the terms and conditions contained in the policy.

Uninsured Motorist Bodily Injury covers bodily injuries to you and your passengers when the other person has no insurance or not enough insurance in a crash that is not your fault. In some states, there is also uninsured motorist coverage for damage to your vehicle. Given the large number of uninsured motorists, this is very important coverage to have, even in states with no-fault insurance. Coverage is limited to the terms and conditions contained in the policy

Personal Injury Protection covers within the specified limits, the medical, hospital and funeral expenses of the insured, others in his vehicles and pedestrians struck by him. The basic coverage for the insured's own injuries on first-party basis, without regard to fault. It is only available in certain states.

Property Damage Liability covers you if your car damages someone else's property. Usually it is their car, but it could be a fence, a house or any other property damaged in an accident. It also provides you with legal defense if another party files a lawsuit against you. It is a good idea to purchase enough of this insurance to cover the amount of damage your car might do to another vehicle or object. Coverage is limited to the terms and conditions contained in the policy.

Rental Car Reimbursement covers renting a car if your car isn't drivable or while your car is being repaired because of a covered accident.

What else is available and can you afford it?

Did you come across a coverage and think, "I need that but it isn't required by state law" when you were reviewing the coverage definitions? Chances are you did. Can your budget afford the additional expense of these protections? Alternatively, maybe more to the point can you afford NOT to have these additional protections? At CarInsurance.com it is easy to get multiple quotes all with a click of your mouse. Moreover, during the quoting process, it is simple to add or remove coverage to see how additional coverage will affect your budget.

What are you protecting?

What assets need to be protected from being plucked away if you cause injury or damage? A) Your car itself. If this is a significant asset, or at least the bank you owe money to thinks so, then you will need comprehensive and collision. B) Your net worth. Do you have an enormous net worth to protect. If so, either take it out of your name and put it into a trust or buy all the insurance you can. If you have little or nothing to protect, then you can get by with less and still be financially responsible.

However, after you determine how much protection to get, always ask how much more it is for the next level higher. Very often, you can get significantly more coverage for very little cost.

Car insurance is not flashy. There is no "wow" factor and the opposite gender is not going to be impressed by the size of your policy. Nevertheless, not having enough can be the difference between financial stability and financial ruin. For what its worth, CarInsurance.com finds financial stability incredibly appealing.

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Time to Review Your Auto Insurance Policy

2009-02-10T12:48:00.000-08:00

As you work your way through tax season, it might also be a good idea to re-evaluate your auto insurance policy.

"The beginning of the year is a great time to get your financial house in order," says Wade Bontrager, vice president of Marketing for GMAC Insurance. "While you're already looking at your finances, it's easy to get out that auto insurance policy and make sure you're getting everything you can from it."

Bontrager says it is also worthwhile to review your policy when it comes time to renew. "While 43 percent of drivers report comparison-shopping when looking for an auto insurance policy, 33 percent of drivers don't even think about it -; they simply renew their existing policy and leave it at that."

Bontrager advises Americans to review their auto insurance policies when:

- Your insurance company has new offerings. Your insurance company might have introduced new, beneficial services. So, take advantage of them.

- You drive less. If high gas prices have lowered your annual driving mileage, some companies now offer a substantial low-mileage discount, such as the Low-Mileage Discount launched in 2008 by GMAC Insurance in collaboration with OnStar.

- You could save money. Make sure your coverage is at a sufficient level to protect your assets, but also research any discounts that you may qualify for, such as a multi-vehicle discount that saves you money when you insure more than one vehicle with the same company.

- You have a specialized vehicle. If you have a specialized vehicle, whether it's an RV or a commercial vehicle, a standard auto insurance policy will not provide the coverage you really need. Check with your auto insurer to see if they offer specialized policies. If not, consider switching to a company that does. If you move all of your auto insurance policies to one company, you may be eligible for a loyalty discount.

"It's so important that you fully research your policy," adds Bontrager. "For example, our customers are offered a series of concierge-style services, and we want everyone to know the extra value they are receiving free of charge."

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Your Auto Insurance May Cover More Than You Think

2009-02-10T12:46:00.000-08:00

Insured drivers whose cars are damaged in accidents may be covered for more than they think, says the Council of Better Business Bureaus (BBB).

For example, although many drivers have coverage for a replacement rental car, they may not realize it because this optional coverage was added at such a minimal expense, usually just a couple of dollars a month. This coverage provides immediate access to a replacement rental car until repairs are made to their damaged car, or they are authorized by their insurance company to purchase a new car.

Gap coverage is another inexpensive option. With this coverage, drivers whose cars are totaled may not have to continue making payments on the balance owed on the car. Without this coverage, drivers have to pay the remainder of their lease or loan even if their car is totaled.

Here are some tips to help if your car sustains damage:

• Report damage as soon as possible. If your car is not drivable, your agent or claims center may be able to have the car towed directly to the repair facility. In addition, arrangements may be made immediately to provide you with a replacement rental car, if your policy includes this coverage.

• Ask what is covered before authorizing work. Expect your insurance adjuster, claims representative or repair facility appraiser to review the damage with you and explain the repair process, including the use of original or generic auto parts. Before authorizing repairs, know what your deductible is, as well as any additional charges you will be expected to pay.

• Ask about warranties. Ask whether your insurer has a repair facility referral program that offers a written limited or lifetime repair warranty backed both by the repairer and insurer for as long as you own your vehicle.

• Do business only with a reputable company. Obtain insurance from companies, independent brokers or direct marketers that have a proven track record of handling auto insurance claims effectively. Get a referral or contact BBB or your State Department of Insurance.

As part of a nationwide consumer education program entitled Wiser Drivers Wise Up, the BBB encourages drivers to review their auto insurance policy annually. Knowing as much as possible about your coverage will help you get your money's worth.

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Understanding Car Insurance Coverage

2009-02-10T12:40:00.000-08:00

Each year, millions of Americans prepare their vehicles for winter's inclement weather and treacherous travel conditions. Unfortunately, many do so without a key element-the certainty of whether or not their auto insurance policy protects them for any unexpected accidents they might encounter along the way.

A survey commissioned by Allstate-in conjunction with the introduction of the Good Hands® Coverage Checkup, a checklist provided by Allstate agents to help review consumers' car insurance policy limits-indicated that approximately 60 percent of respondents are not confident they understand their car insurance coverage.

Confidence Gap

More than 40 percent of consumers first answered that they were not confident in their understanding of their auto insurance coverage. However, after being quizzed on specific incidents such as hitting a deer and crashing after a tire blowout, the number of respondents who admitted they weren't confident rose significantly-to nearly 60 percent.

"When the unexpected occurs, the difference between hoping you're protected and knowing you are is crucial," said Lisa Cochrane, vice president of marketing, Allstate. "That's where Allstate's network of more than 14,000 agencies can help consumers feel confident in their coverage."

Additional survey findings included:

• It's All in a Name

A higher percentage of respondents who know their insurance agent's name feel more confident in their knowledge of their auto insurance policies than those who don't have an agent or don't know the agent's name.

• The Great Equalizer

Prior to being polled on accident-specific questions, 70 percent of men were confident they understood what their insurance coverage includes, compared to just 50 percent of women. Following the questions, men dropped to a 50 percent level and women to a 33 percent mark.

Coverage Checkup

Allstate developed its Good Hands® Coverage Checkup to help consumers review their current auto insurance policy limits and identify where they may need more coverage or less. An invaluable checklist the company's agents can provide-the checkup is free for all consumers, regardless of their insurance carrier-takes just 15 minutes, can help uncover gaps in coverage limits that could expose a consumer to financial risk and points out available discounts and savings.

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Car Insurance Company Rate Quote Comparison Worksheet

2009-02-10T12:24:00.000-08:00

Looking for cheap car insurance? Comparing car insurance quotes and rates is one of the best ways to find cheap car insurance. This worksheet is designed to help you compare online car insurance quotes and get recommended car insurance coverages.

Below you will find a list of documents you will need to submit online car insurance quote information. Also included is a list of recommended coverages to compare when getting your car insurance rate quote.

What to Have Available to Obtain Your Car Insurance Quote:

1. Driver's License #

2. Year, Make, Model of Vehicle

3. Vehicle Identification Number or VIN#

4. Vehicle Finance Company

And Don't Forget Your Discounts:

Anti-theft Devices?
Airbags?
Anti-Lock Brakes?
Automatic Seat Belts?
Window Etching?
Multiple Car Discount?
Multiple Policy Discount?

List of Recommended Coverages to Compare When Getting Your Car Insurance Quote:

Bodily Injury Liability/each occurrence $300,000

Property Damage Liability/each occurrence $100,000

Medical Payments/each person $10,000

Uninsured Motorist Bodily Injury Liability/each accident $300,000

Uninsured Motorist Property Damage/each accident $10,000

Collision Deductible $500

Comprehensive (other than collision) Deductible $0-100

Note: These are recommended coverages. Your recommended coverages may be different depending on your situation and your state. When getting your car insurance rate, please check with your agent for any changes in these recommended coverages. Also, make sure you check to see if the car insurance quotes you are getting are for 6 or 12 month policies.

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The Best Little List of Insurance Tips Ever!

2009-02-10T12:20:00.000-08:00

What Your Insurance Agent Forgot to Tell You...

Learning about insurance is excruciating for some. How many times have you read about someone wanting to sit down and read a good book on insurance? Yeah, it doesn't happen often. And your insurance agent... do you think they are going to tell you all the insider insurance stuff?

So, if you have trouble reading a full article on any insurance subject or if your insurance agent is not your best friend, these quick tips will get you enough insurance knowledge to make you look like you know what you are talking about... and I bet you will learn a thing or two! Of course, going more in depth with your insurance knowledge is best so let this be a springboard for you to eventually dig into more insurance information!

This list will be updated regularly with great quick tips. If you have any tips you think are worthy of this list please email them to me.

So, here goes... The Best Little List of Insurance Tips Ever!:

1. One of the best ways to save on your auto, home, or health insurance is to reduce your deductible. You don't want to make a claim anyhow on an amount you can afford, so raise your deductibles to the top amount you would be willing to pay out of pocket before your insurance kicks in. Raising your deductibles can save you a lot of money so it is worth checking into.

2. Get to know your grace period! Just because you forgot to pay your insurance bill on time does not mean it is canceled. Most policies have at least a 30 day grace period in which you can make your payment and your policy will still remain in effect. So before you assume your insurance is gone, check out your grace period and pay up!

3. Keeping your policies with one agent can pay off. Sometimes you can find cheaper insurance at different agencies but there are two reasons to stay with one insurance company or agent: First, you can get a multiple policy discount and second, your insurance agent is likely to work harder for you when it comes to claims and service.

4. Ask for discounts! Don't assume your insurance agent will automatically give you all the discounts available. This is not because they don't want to but because they don't always know what discounts apply to you.

5. Credit and insurance goes hand and hand. Most insurance companies are partially basing rates on your credit history. Whether you think it is fair or not, it is happening. So, if you have some small credit issues get them cleaned up or if you can't and still want to save, shop around because each insurance company has a different way to evaluate your credit.

6. Skip the credit card insurance offers and warranties. Those offers by your mortgage or credit card companies to pay your balances are not worth the cost. It is always better to make sure you have a good life insurance policy to cover your debts. Also, extended warranties are just mini-insurance policies and they are hardly ever worth the amount you pay for them, especially if you take care of your items.

7. Need cheap health insurance? Choose a high deductible policy and haggle with your doctor! Yes, you are comfortable doing it with the used car salesman so why not with medical professionals? People do it, even insurance companies haggle and get rates reduced! Getting a high deductible insurance policy, or better known as "emergency insurance," will save you tons of money in premiums because it only kicks in usually after you have paid the first 5-10 thousand dollars (hence "emergency policy"). So, if you have other procedures the doctor would like to do that you will be paying for out of pocket... haggle with your doctor or the hospital. It sounds strange but you can reduce your costs and don't worry because others are doing it too!

8. You may not have to pay that "out-of-network" charge on your health insurance bill. As long as you followed your obligations of choosing an in-network doctor and an in-network hospital, if for some reason another professional at the hospital gives you care and they are not in-network then you don't have to pay. Your health insurance company will send you a bill anyhow, hoping you will pay but make sure you make it clear that you know you are not obligated to pay.

9. Insurance agents make way less on term life insurance. Term life insurance is basic life insurance that does what it is meant to do: it gives you a certain amount of life insurance for a certain amount of time. It is one of the most popular choices in life insurance because most families just get it while their kids are young... most people don't need life insurance when their dependents do not depend on them anymore. It is also very popular because it is the lowest cost option in life insurance and therefore gives you the biggest life insurance bang for your buck. That makes it a very low commission product. This is not to say that other life insurance options are not a good choice, but make sure you know why your agent is trying to sell you a particular life insurance product.

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First Think Of Insurance Policy for Your Car

2009-02-10T11:58:00.000-08:00

Compare First Insurance Policy for Your Car

I think by getting your first insurance policy for your car should be a priority. Your first car insurance policy protects one of your first investments, your car. But buying your first insurance policy for your car can be complicated and often new car insurance shoppers fail to compare car insurance rates and in turn fail to reap the financial benefits of finding the best and affordable car insurance available to them.

Do You Need Car Insurance?

The question asked by most people shopping for their first insurance policy is who needs an insurance policy and why? The answer is simple: it’s the law. The DMV (Department of Motor Vehicles) requires that you take financial responsibility for owning and operating a car in all fifty states. Car insurance protects you when you cause property damage or bodily injury to someone else when driving your car. If you are caught driving without car insurance you will be charged hefty penalties. Violators can face up to hundreds of dollars in fines for a first time offense. Also, if you are involved in an accident and do not have car insurance, your license may be suspended whether you are at fault or not.

Learn More Your First Insurance Policy

Now that you know you know how important it is to get your first insurance policy for your car, you will want to understand how car insurance works before you start deciding on which company you will choose for your first insurance policy. This article will take you step by step in understanding car insurance. Once you understand how car insurance works and have an idea of what type of car insurance you need, you are on your way to the next step of finding the best and most affordable car insurance for you.

Save Your Money By Not Paying Too Much Money

This is often where first insurance policy buyers get sucked into paying too much for their car insurance. Don't just assume since you are purchasing your first insurance policy that you will have to pay extremely high premiums. Yes, you will pay higher premiums than people who have had car insurance for some time, but that does not mean you can not find affordable car insurance. You ask then how does one find the best and most affordable car insurance? Here is a checklist of ways to find affordable car insurance and the best first insurance for you:

How to Find the Best Affordable First Insurance

1. Compare first insurance rates online and locally

2. Know what you need and how much of a fisrt insurance policy, so you don't buy more than you want.

3 . Tell the car insurance company that you are comparing X amount of companies, so they know that you are looking for the best deal.

4. When shopping online or locally for your first insurance policy, make sure you know what car insurance discounts you may eligible for. If you are unsure, ask the insurance agent of all their discounts.

5. If you are choosing full coverage car insurance, remember the higher your deductible, the cheaper your car insurance premium will be.

6. If yo feel an insurance company or agent is treating you unfairly or breaking the law, you should know how to file a complaint.