Auto Insurance Law » Premiums

Military Auto Insurance

admin — Sat, 26 Jun 2010 09:06:19 +0000

Most folks don’t realize that pretty much every major car insurance company offers separate, customized plans to those folks who are serving in the military. Military families face many financial and emotional hardships that most other non-military families don’t have to even think about, like being deployed away from your family for extended periods and moving vehicles around the world to places like Europe and Asia on a yearly basis. Military families need a separate kind of auto insurance that can be tailored to their particular situation.

One company that offers a special military auto insurance division is Geico. Geico actually has an entirely separate department to deal with military auto insurance claims. They can custom fit you with a policy that takes financial hardship and frequent moves abroad into consideration when you sign your policy. For some people, you need a separate policy every time you move to a different state, imagine the crazy policy you would need if you were moving from Florida to Germany and then to Japan! But companies like Geico make it easy to get coverage and they often come with convenient payment plans that can adjust when your premiums are due to when you and your family get paid. Make sure you ask for the military auto insurance division when you apply for a auto insurance plan over the phone, or over the Internet so that you can get the right policy for you.

Many companies even offer discounted policies for military members as a way of saying thank you for protecting the country. Military discounts were fairly common place in modern life, but after the events of 9/11, almost all major businesses like car dealerships and other major corporations began offering special military rates. Make sure you ask your car insurance company if they offer military auto insurance discounts. You could save a bundle!

By: David Gilmore

Car Insurance Scam

admin — Thu, 17 Jun 2010 03:54:21 +0000

Have you wondered why your premiums are going up for your car insurance? There is a motoring scam currently sweeping across Britain’s roads with fraudulent motorists staging crashes in order to claim compensation. This is seen as making money quickly by criminals who deliberately slam on their brakes so the unaware driver behind them bumps into the back of them. Then it’s a case of faking whiplash symptoms to the doctor and claiming through the other driver’s insurance for damage and injuries.

This potentially lethal scam is not only increasing the premiums on the involved driver’s policy, but in fact, everyone’s policy. The estimated value of fraudulent cases per year is around £1.6 billion. This has resulted in the insurance companies increasing the cost of annual policies around £50 in a bid to balance the cost that the insurance companies are losing through the claims.

The police have warned people to be ever so vigilant on the roads and to keep a safe distance between other cars. This is a popular scam adopted by many well organised criminals.

Some fraudsters who are not even on the scene at the time of an incident are claiming compensation claiming they were a passenger in the vehicle, after one or two simple visits to the doctor/hospital; they can receive up to £2,500. An owner of a towing company has also been prosecuted as he had claimed he had towed hundreds of vehicles from crash scenes which had not even been involved in an accident.

This will no doubt lead to a review of the claiming process where claims will become a lot more complex.

By: Barry Loughran

Car Insurance – Tips to Help You Make a Decision

admin — Wed, 16 Jun 2010 14:58:03 +0000

Often people do not have an auto insurance because they do not know what auto insurance policy to get, as there are many policies that you can choose. Or either, so it happens, that they do not have a clue about where to buy the insurance policy. If you own a car you should know that there are numerous options available for you, but you have to first figure out what you exactly need. Your goal is to find a coverage that will facilitate your specific demands.

Begin by looking at different auto insurance policies and compare the coverage rates. Keep in mind the money that you will be spending to get the protection, and make sure that your budget does not go overboard.

There will be many factors that will be taken into account when insurance companies are deciding on the premium rates. You will get a discounted price for have a clean driving record. If you mange to keep a stable driving history then, unlike many other people, you will not have to face increases in your premiums at the time of your policy renewal. There are many other aspects which can also be taken into account for which you get low rates, like your loyalty to your insurance company and having multiple policies with the same company.

You might also want to look at the discounts that are available to you if you are a senior citizen, or a student who has consistently shown a remarkable academic performance.

When deciding on the limits, try to have a conversation with your insurance agent regarding it. It is always a smart move to have a high deductible as it reduces your premiums significantly, and you should also enhance coverage of your liability insurance. By increasing your liability insurance you are also increasing the financial protection which you will receive if there is an unfortunate accident.

It might be interesting to note that there about 186 million motor cars in America and a significant percentage of this number are the cars which are driving somewhere uninsured. To guard yourself and your loved ones be sure to check online to see what may be available to you, as you never know what options may exist out there and how affordable coverage may actually be.

By: Marcel A Johnson

Auto 101 – How to Choose Auto Insurance

admin — Tue, 15 Jun 2010 11:12:06 +0000

When thinking about auto insurance, you want to be sure that you are adequately covered in the event of something happening, but you also don’t want to be paying too much. It is actually quite easy to find the balance and be able to do both, if you are able to choose a good policy in the first place. So, this makes your first goal, thinking about what sort of coverage it is that you actually need. The first step is to look into the laws in your own state as to how much you have to have, and then go into what makes you feel the most safely covered.

First of all you want to consider your own driving habits, because if you are a less than careful driver, purchasing more comprehensive coverage really might be your best way to go. You will need to take a look at your history and see if you can afford not to have that sort of coverage versus how much you’ll be paying out in premiums every month and balance your needs against that. However, if you own an older vehicle and have a fairly clean driving record then you may be able to decline the collision and more comprehensive coverage in light of a more cost effective coverage that does reflect your driving record and current driving habits. The flip of that would be if you live in a high crime area, you may want to go ahead with the comprehensive coverage- basically, you need to consider the factors that truly impact you and what you will need versus what you fear you will maybe need.

Once you have in mind exactly what your needs are, this is where you begin to shop around to find competitive rates. Even if you have a blemished driving record, you may find coverage that is not highly priced in respect to what you need. The first stop for most in this is on the web- there are a number of sites where you can compare plans, rates and this is usually one of the easiest ways to get a loose idea of what price range you are looking at to begin with. When you do use a site to get your quotes, though, understand that not all will provide an instant quote, so you may find yourself talking with a Representative or waiting on an email quote. As you do this, make a list of these companies by name, include the quote, taking note of annual and monthly rates, discounts you could utilize for each, a customer service number, and payment policies. Make sure that you leave room for additional notes about the company as you contact them with further questions. From there you can comparatively shop, researching the individual companies and paring it down until you have a small handful that seem the most promising to you- and then, you have a good head start on finding the best possible auto insurance rate for you.

By: Henry Fleet

How to Compare Low Cost Car Insurance In Michigan

admin — Sun, 13 Jun 2010 10:36:38 +0000

Most of us do some comparison shopping when we are looking for a big ticket item like a refrigerator or a television. However, many people in Michigan never take the time to try and find the best deal on car insurance. The best way to compare low cost car insurance in Michigan is to call up a few agents and ask for quotes. You do need to be aware of exactly what type of car insurance you need before you pick up the phone.

Purchasing the minimum coverage required by state law in Michigan may be sufficient if you drive an older vehicle on an occasional basis. If you are driving back and forth to work or school daily, you need to consider a policy that offers more types of coverage. The additional types of coverage include comprehensive and collision coverage, uninsured motorist coverage, and limited property damage liability coverage. Once you know exactly what types of coverage you feel are necessary you can then start gathering quotes.

Start with your homeowner’s insurance company. Explain that you already have a policy with them and you’d like to add on car insurance coverage. In most cases you’ll be offered a discounted rate because you are purchasing more than one type of insurance. Adding on a health insurance or life insurance policy can result in lower premiums for all of them. This is a great approach for someone who already has policies spread out over several companies.

Call agents that represent other companies as well though. Even if you suspect that you have already been offered a rock bottom price you may be surprised. Insurance in Michigan is a competitive business. There is a law in the state which prohibits one insurance company from contacting another just to compare rates. This means the consumer can expect to have several companies all clamoring for their business by offering a good rate. The resulting lower price for premiums is great news for all drivers.

By: Deborah Mills

Finding the Top Auto Insurers

admin — Sat, 12 Jun 2010 07:20:39 +0000

Everyone has someone to answer to, as do insurance companies. Finding the top auto insurers is very easy to do, especially with the help of the Internet and all the online insurance websites. People who have had trouble or are dissatisfied with the services of their insurers or their broker have a place to submit their complaints which will be seen and judged by other potential clients.

These complaints are registered in special departments of each state, as insurance happens to be governed by state law. Therefore, all complaints registered against any insurance body will be listed there. This will simplify your quest to find the top auto insurers, because the top rated insurance companies will have the fewest complaints listed against them. A few complaints against the particular company may be just simply some disgruntled clients who were unhappy with the turnout of their own situation.

Others who have numerous complaints listed, especially about the same issue, should probably be avoided. The truth is, you would like to avoid working with an insurance company who is more than happy to take your premiums, but delays your repairs or payments in the event of a claim. Experiencing an accident or being the victim of vandalism can be frightening and frustrating enough, without having to deal with a less than satisfactory service from the part of your insurer.

With that said, you can find the top auto insurers by entering that key phrase in your search bar of your browser. An entire list will be populated from the search engine of your choice. However, the first in the list is not necessarily the best. Finding the best is completely up to you.

That means that you will have to delve further into your research and find all the complaints listed against this insurer. But don’t stop there. You must find all the positive points and compare the quotations regarding the premiums against other top rated insurers.

If you go further by asking friends, family and other acquaintances. If they have ever used or heard of any positive or negative traits that that particular insurer may have. You’d be surprised as to how many people have both good and bad stories regarding insurance companies, premiums, services rendered, and the like. Just as quickly as people would like to share with their sad story, others would like to share their knowledge about how well they were treated in their own situation.

By: Felix Fassbinder

Texas Car Insurance Requirements

admin — Wed, 09 Jun 2010 12:29:38 +0000

In regards to car insurance requirements in Texas, you must have a minimum of $15,000 to cover damages an accident causes other property; $20,000 to cover any bodily injury or death of one person per accident; and $40,000 to cover any bodily injury or death of two or more persons per accident. You can meet the Texas car insurance requirements by purchasing a policy from a car insurance company licensed to do insurance business in Texas, or you may want to post a self-bond – set aside enough money to meet the car insurance requirements in Texas.

Self-bonding, or self-insuring, to meet the Texas car insurance requirements does have its advantages. First, you do not have to worry about whether or not it is going to be difficult to get insurance – if you are providing it, it is already there! You also do not have to concern yourself with premiums, making payments on time, or renewal and cancellation in the matter of being self-insured.

When you meet the Texas car insurance requirements with a self-bond or self-insurance, you are also free to purchase additional car insurance coverage from a traditional car insurance company. By keeping your self-insurance stash in mind, you can pick and choose what car insurance coverage you want to purchase.

Self-bonding, or self-insuring, is not actually the most efficient way to meet the car insurance requirements in Texas, but it is an option – an option that many people choose. The most common reason people choose the option of self-bonding to satisfy the Texas car insurance requirements is because they feel they are uninsurable. A bad driving record, a flawed credit report, and a sketchy history of making payments are all factors Texans believe make them uninsurable; however, these are factors that can and do improve in time, and the self-bonded individual may want to switch to a traditional car insurance policy in Texas once these factors have improved.

By: Elizabeth Newberry

Multi Car Insurance Can Work Out Cheaper

admin — Sat, 05 Jun 2010 06:14:58 +0000

If you have more than one car in your home then it can work out cheaper to take out multi car insurance. Car insurance can be confusing and there are limitations which are set out in the exclusions and it is essential that you read the small print of any policy you are interested in and let a specialist website search around on your behalf for the lowest premiums for your cover.

Specialist insurers will offer discounts when you are insuring more than one car if you take them both out together at the same time but just as when comparing premiums for single car insurance it is better if you let a specialist website search around on your behalf for the cheapest premiums. You can also benefit from a specialists’ advice by the FAQs and other information they will make available so you understand a policy and the options available.

The three main types of car insurance include fully comprehensive which offers the most cover but of course is the most expensive type of car insurance. Depending on the value of your car you might have to take to take out fully comprehensive, certainly if you buy a brand new car. Third party fire and theft can be taken cheaply but this of course doesn’t give you as much cover as fully comprehensive though it covers against having your car stolen or if destroyed or damaged by fire as well as covering any damage caused by you to a third party or their vehicle.

The cheapest form of motor insurance is third party only and this insurance will payout for damage to others but not your own car if you should cause an accident.

Once you have determined the type of insurance that you require then a specialist will be able to find you the cheapest quotes for multi car insurance and present them to you in the shortest time possible along with the vital information needed to ensure that you understand your policy.

By: David H Thomson

Taking a Look at the Need For Auto Insurance

admin — Thu, 27 May 2010 11:51:48 +0000

Taking a look at the need for auto insurance becomes necessary whenever the time has come to take a motor vehicle and then register it for use on the roads and highways of just about every state in the country. Most states — with the exception of one — mandate by law that auto insurance be carried on any car registered and operated in their state, by the way.

Auto insurance is basically indemnity insurance provided by a company that is willing to risk that the person asking for the policy will not cost it more than the person is paying in the form of premium payments. Generally speaking, any insurance company operates in this manner no matter whether it is insurance for an automobile that is being discussed or life insurance, for example.

What this means is that insurance company is going to be judging risk in terms of the person asking for the policy. If the insurance company makes a judgment that the person — due to a number of factors which will be discussed — is riskier to ensure, that person can expect, then, to pay more in the form of higher premiums. There are a number of reasons for why this is so.

For one, there are certain age groups that statistically present greater risk to ensure, such as the 16 to 24 demographic. Actuarially and statistically, this group of people presents the highest risk for insurers because the group tends to engage in the riskiest and most unsafe behaviors. This is particularly true when it comes to driving habits, unfortunately.

Other risk factors that are important to insurers include individual driving records. A person who is being insured and who has not cost the insurance company anything in the form of damage or injury claims would generally pay less (sometimes much less) in the form of premiums than another person with a shaky driving record and a history of auto accident mishaps.

Additionally, all auto insurers look at the vehicle that is going to be insured. If it is of a certain type or kind — such as a high performance sports car or a vehicle that is more difficult to repair or replace — then insurance premiums will tend to be higher. And if the vehicle is parked or garaged in a high-risk area, the insurance policy charges will reflect that accordingly.

The answer to how to obtain lower premium prices on auto insurance should be obvious from looking at the risk factors above. Drive safer and engage in less risky on the road behaviors, look at the vehicle that will be insured and see what the company can do as far as extending discounts and maybe even take a safe drivers course, which can lead to further discounts.

By: Felix Fassbinder

How to Find the Cheapest Ohio Auto Insurance – Keys to Getting the Best OH Car Insurance Rates

admin — Sun, 09 May 2010 14:44:34 +0000

Why pay more for Ohio auto insurance than necessary? If you can get the coverage that you need (an the state of Ohio requires by law) then why not find the cheapest Ohio auto insurance policy that you can? In fact, there are a number of different strategies that you can employ in order to find a cheap Ohio car insurance rate.

According to the U.S. Census Bureau, Ohio holds an estimated population of 11,478,006 as of 2006 and has only grown 1.1% in the last year. This means that rates in the state of Ohio have not seen a big change yet because the number of cars in the roads has not varied much.

Deciding to take the minimum coverage issued by OH state law is not the only solution to cheap automobile insurance in the state of Ohio. People can choose to drop the comprehensive and collision coverage options if their car is just too old, which will allow them the save a lot of money in the long run.

The deductible is another key thing in determining the rate that a person will pay for car insurance yearly. If a person has a low deductible that means that they are covered much more in case of an accident, hence the price of their policy will be higher. For this reason if you increase your deductible even a slight bit, you will be able to save some money. Higher out of pocket costs mean lower monthly premiums, which result in lower yearly rates.

Other ways to save on automobile insurance for Ohio residents include bundling services under one company. This means that if you have health insurance, automobile insurance or homeowners insurance you will be able to get a cheap deal. Simply just find out which insurance carrier offers all three, or even two of them and bundle them together under one policy. A person can save up to 10% off the price if they do this, not to mention that nowadays; most insurance companies offer a variety of services.

An Ohio resident can also opt to asking for discounts for driving less. If you drive less frequently you might be able to get a low mileage discount which can save you some money in addition to the things said above. Not only this, but you can also get a discount for being a safe driver just like in many other states. Believe it or not, insurance companies do not check your driving record that often, which means that you won’t be able to get a good driver discount unless you tell them about it.

It usually takes three years of clean driving with no accidents, DUI’s or citations for an insurance company to even consider giving a clean driving record discount. However, the benefits of this discount are plenty because you can save HUGE amounts of money after a company considers you a defensive driver. It is also worth mentioning that there are many other discounts such as good student and vehicle safety features, but they vary from company to company. Because of this reason it is important to do some research with every single company out there before you decide on which auto insurance company is right for you.

By: James J. Robinson