Auto Insurance companies are always looking for reasons to increase what you pay for auto insurance. If you have an accident. If you have a teen driver. If you file certain types of claim. If you don't have a garage. If you buy a car that happens statistically to be stolen more often. If you change jobs and have a longer commute to work. These are all reasons that an insurance company may decide gives them the right to raise your auto insurance premium. The only way for you to stop them from increasing your rates is to make them compete for your business. As in all negotiations, Information is Power and more importantly, you have to be willing to Walk Away from a bad relationship.
INFORMATION IS POWER - The Internet provides consumers the opportunity to learn about their insurance options. First of all, you can get multiple insurance quotes without having to talk to an insurance agent or sales representative. There are many sites now that allow you to provide driver, vehicle, claims and violations information online in order to show you insurance quotes from multiple companies. You can also visit each company site individually and request a single quote from each. You should be wary of individual companies that promise to give you other company's rates, in insurance, there are people they want to sell policies to and people they don't want to sell policies to, can you really trust them to provide quote information that isn't in their company's best interest. Secondly, just because you shop online with out talking to an agent doesn't mean you have to buy online without talking to an agent. Most online services give you the option of talking to a licensed agent before you buy.
WALKING AWAY - if you aren't willing to end a bad relationship, then the abuse will never end. We need to show insurance companies that they can't just raise rates when ever they feel like it. Insurance companies know that a rate increase will only motivate a small number of their policyholders to look else where. They count on your apathy. Don't let them get away with it. Shop your auto insurance today.
Minggu, 25 Mei 2008
When your car insurance claim is denied
There are many reasons a car accident claim can be denied, valid or not. If your car insurance claim was denied, take note of the reason(s) given in the insurance company’s denial letter. Then take out your insurance policy and begin reading. The denial could be an error based on a lack of complete information or misinformation. But it could also be a correct determination by the insurance company.
Some common reasons for denial are:
No car insurance coverage was purchased for the claim presented. For example, if you drive an older vehicle, you may carry only liability insurance and have no collision coverage because it is expensive. A claim under your policy for damage to your own vehicle will rightfully be denied.
You made an Uninsured Motorist Claim under your policy and it turns out the other party to the accident was insured.
You do not qualify as a named insured under the policy. For example, you are a teenager and you are specifically excluded under your parents’ policy because your parents do not expect you to drive their vehicle.
Your coverage has lapsed because you failed to pay your premium before the end of the grace period.
The amount of damage claimed exceeds your policy limits and the insurance company will not cover the excess.
You bought a new car and failed to notify the insurance company to add it to the policy within the specified time given in the policy.
If, after reading the insurance company’s reasons and reviewing your policy, you still believe coverage has been wrongfully denied, there are some steps you may take to try to remedy the situation. You have certain rights under your policy and under state law. Your insurance company has a duty to fairly and promptly settle your car accident insurance claim in good faith.
Steps you can take if coverage has been wrongfully denied:
Write back to the insurance company to tell them where their mistake is and provide them with documentation to support your response.
Appeal the company’s decision to the State Insurance Commissioner.
Hire an insurance bad faith attorney to discuss the error with the insurance company.
Sue the insurance company for bad faith, breach of contract, and/or violations of your state’s insurance code.
If the insurance company realizes its mistake, or you are correct in that the adjuster made an error, they will reopen your claim and move forward with their investigation. Where you don’t understand their reason for denial, ask for clarification. It would be wise to consult an attorney to make sure they are not erroneously denying your claim.
CAUTION: Your insurance company is required to act in good faith when handling your car accident claim. If the insurance company unnecessarily denies your claim or fails to promptly settle it, you can sue them for bad faith, breach of contract, and violations of your state’s insurance code. It is crucial that you seek out an auto accident attorney who is experienced in insurance coverage litigation if you believe your insurance company is not handling your claim fairly.
Note that if your car accident claim is with the insurance company for the other driver involved in the car accident, a failure to settle promptly or fairly is not a denial of the claim. You should contact an attorney to either negotiate a settlement for you or to file suit against the responsible driver. Under some circumstances and in some states, you may also file a complaint with the State’s Department of Insurance for Third Party Bad Faith. Seek advice from an attorney to see if yours is one of those states.
Some common reasons for denial are:
No car insurance coverage was purchased for the claim presented. For example, if you drive an older vehicle, you may carry only liability insurance and have no collision coverage because it is expensive. A claim under your policy for damage to your own vehicle will rightfully be denied.
You made an Uninsured Motorist Claim under your policy and it turns out the other party to the accident was insured.
You do not qualify as a named insured under the policy. For example, you are a teenager and you are specifically excluded under your parents’ policy because your parents do not expect you to drive their vehicle.
Your coverage has lapsed because you failed to pay your premium before the end of the grace period.
The amount of damage claimed exceeds your policy limits and the insurance company will not cover the excess.
You bought a new car and failed to notify the insurance company to add it to the policy within the specified time given in the policy.
If, after reading the insurance company’s reasons and reviewing your policy, you still believe coverage has been wrongfully denied, there are some steps you may take to try to remedy the situation. You have certain rights under your policy and under state law. Your insurance company has a duty to fairly and promptly settle your car accident insurance claim in good faith.
Steps you can take if coverage has been wrongfully denied:
Write back to the insurance company to tell them where their mistake is and provide them with documentation to support your response.
Appeal the company’s decision to the State Insurance Commissioner.
Hire an insurance bad faith attorney to discuss the error with the insurance company.
Sue the insurance company for bad faith, breach of contract, and/or violations of your state’s insurance code.
If the insurance company realizes its mistake, or you are correct in that the adjuster made an error, they will reopen your claim and move forward with their investigation. Where you don’t understand their reason for denial, ask for clarification. It would be wise to consult an attorney to make sure they are not erroneously denying your claim.
CAUTION: Your insurance company is required to act in good faith when handling your car accident claim. If the insurance company unnecessarily denies your claim or fails to promptly settle it, you can sue them for bad faith, breach of contract, and violations of your state’s insurance code. It is crucial that you seek out an auto accident attorney who is experienced in insurance coverage litigation if you believe your insurance company is not handling your claim fairly.
Note that if your car accident claim is with the insurance company for the other driver involved in the car accident, a failure to settle promptly or fairly is not a denial of the claim. You should contact an attorney to either negotiate a settlement for you or to file suit against the responsible driver. Under some circumstances and in some states, you may also file a complaint with the State’s Department of Insurance for Third Party Bad Faith. Seek advice from an attorney to see if yours is one of those states.
Kamis, 22 Mei 2008
How to Get Discounts on Car Insurance
New Jersey car insurance is one of the highest in the country.
I know because I live in New Jersey. Every year I dread getting my new car insurance bill. It only goes one way...and that is UP!
But...I did some research and found out how to get some discounts applied to my car insurance policy.
I found out that there are ways to get a break on your car policy, if you know where to look you can find ideas on how to lower your car insurance.
Yes, you can get cheap car insurance...just to find out about discounts you may be eligible for.
I finally saved some money and still purchased the same amount of insurance as I had last year. You may be able to find some ways to get a discount or two on your own auto insurance without lowering your deductible or other coverage amounts.
I read an advertisement that told me I could "Save 50%" on my car insurance policy.
I wish it were true, but I don't believe it.
I would be happy to save a small percent, the more the better of course, but let's be practical. You usually have to buy some e-book to find out how to save 50% so here is your first tip...Save your money!
If you want to save money on your auto policy, ask your agent what discounts are available.
The average driver in America spends hundreds or sometimes thousands of dollars a year for insurance.
What Determines Your Car Insurance Rates?
There are several factors that are put together by insurance gurus to decide what your premium will be.
1. The value of your vehicle (the higher the value, the higher the car insurance premium)
2. Your driving record
3. Your age
4. Your marital status (getting married did not make me a better driver! How about you?)
5. Where you live
6. Your sex
7. The make and model of your car (some makes are stolen more than others)
If you live in the city but own property elsewhere you should check into using that address to register your vehicle. If the property is outside the city, the premiums for that area will most likely be lower.
If your under the age of 25 (especially if your male) perhaps you can register and insure your car under your parents name, with you as a part time driver.
If you are the parent of a teenage driver you can restrict their driving privileges so they will be listed as an occasional driver. This may save you a few dollars.
You can always save some money by choosing the higher deductible on your insurance. You can ask an insurance company what the policy quote is with both the lower and the higher deductible. How much will the higher deductible save you? It may be worth it to choose that for your policy.
If your buying a car you may want to think about looking at one with a smaller engine. A vehicle with a larger engine costs more to insure.
The value of the vehicle will also make a difference in your insurance premium.
Have you had any auto accidents? If you've had one or more you could be considered a high risk to the insurance companies. You can take a defensive driving course to help get a lower premium. Taking this course could get you a discount on your car policy.
Is Your Car Over Insured?
If you have an older vehicle it may not be worth it to continue the collision insurance you have on it. You may be paying more than you will get back from the insurance company, so you should really check this out.
Who is Eligible For a Discount?
Senior Citizens
Good Drivers
Students with a B or higher average
College Students who live away from home at school
What Equipment Gets You a Discount
Cars with Alarm Systems or Tracking Systems
Cars with Air Bags
Cars with Anti-lock Brakes
Etched Windows
Pleasure Vehicles
Do You Have Multiple Insurance Policies?
If your home and life insurance are from the same company, why not add your car to that policy. You may be eligible for a multiple policy discount.
Don't think you have to use the same insurance carrier you currently using. You should shop around for better insurance quotes to find a cheaper insurance policy.
There are many ways to do this.
If you like to surf online you can easily find an insurance company who will give you an online auto insurance quote. All you have to do is fill out the form and hit enter. You will get one or more quotes back via email. You might find one who has cheaper rates than your current insurer.
If you don't want to check for cheaper auto insurance quotes online you can call a couple of agents or insurance companies and ask for a quote.
You may just find a lower priced car insurance policy, and that is surely worth a little bit of your time. If it works for my New Jersey car insurance policy, it will work for yours too.
I know because I live in New Jersey. Every year I dread getting my new car insurance bill. It only goes one way...and that is UP!
But...I did some research and found out how to get some discounts applied to my car insurance policy.
I found out that there are ways to get a break on your car policy, if you know where to look you can find ideas on how to lower your car insurance.
Yes, you can get cheap car insurance...just to find out about discounts you may be eligible for.
I finally saved some money and still purchased the same amount of insurance as I had last year. You may be able to find some ways to get a discount or two on your own auto insurance without lowering your deductible or other coverage amounts.
I read an advertisement that told me I could "Save 50%" on my car insurance policy.
I wish it were true, but I don't believe it.
I would be happy to save a small percent, the more the better of course, but let's be practical. You usually have to buy some e-book to find out how to save 50% so here is your first tip...Save your money!
If you want to save money on your auto policy, ask your agent what discounts are available.
The average driver in America spends hundreds or sometimes thousands of dollars a year for insurance.
What Determines Your Car Insurance Rates?
There are several factors that are put together by insurance gurus to decide what your premium will be.
1. The value of your vehicle (the higher the value, the higher the car insurance premium)
2. Your driving record
3. Your age
4. Your marital status (getting married did not make me a better driver! How about you?)
5. Where you live
6. Your sex
7. The make and model of your car (some makes are stolen more than others)
If you live in the city but own property elsewhere you should check into using that address to register your vehicle. If the property is outside the city, the premiums for that area will most likely be lower.
If your under the age of 25 (especially if your male) perhaps you can register and insure your car under your parents name, with you as a part time driver.
If you are the parent of a teenage driver you can restrict their driving privileges so they will be listed as an occasional driver. This may save you a few dollars.
You can always save some money by choosing the higher deductible on your insurance. You can ask an insurance company what the policy quote is with both the lower and the higher deductible. How much will the higher deductible save you? It may be worth it to choose that for your policy.
If your buying a car you may want to think about looking at one with a smaller engine. A vehicle with a larger engine costs more to insure.
The value of the vehicle will also make a difference in your insurance premium.
Have you had any auto accidents? If you've had one or more you could be considered a high risk to the insurance companies. You can take a defensive driving course to help get a lower premium. Taking this course could get you a discount on your car policy.
Is Your Car Over Insured?
If you have an older vehicle it may not be worth it to continue the collision insurance you have on it. You may be paying more than you will get back from the insurance company, so you should really check this out.
Who is Eligible For a Discount?
Senior Citizens
Good Drivers
Students with a B or higher average
College Students who live away from home at school
What Equipment Gets You a Discount
Cars with Alarm Systems or Tracking Systems
Cars with Air Bags
Cars with Anti-lock Brakes
Etched Windows
Pleasure Vehicles
Do You Have Multiple Insurance Policies?
If your home and life insurance are from the same company, why not add your car to that policy. You may be eligible for a multiple policy discount.
Don't think you have to use the same insurance carrier you currently using. You should shop around for better insurance quotes to find a cheaper insurance policy.
There are many ways to do this.
If you like to surf online you can easily find an insurance company who will give you an online auto insurance quote. All you have to do is fill out the form and hit enter. You will get one or more quotes back via email. You might find one who has cheaper rates than your current insurer.
If you don't want to check for cheaper auto insurance quotes online you can call a couple of agents or insurance companies and ask for a quote.
You may just find a lower priced car insurance policy, and that is surely worth a little bit of your time. If it works for my New Jersey car insurance policy, it will work for yours too.
How to Compare Car Insurance Rates
As with anything else that you want to buy, it's a good idea to compare car insurance rates before you sign up with any one company.
This is because there can be a large difference in insurance rates from company to company, and you can save yourself literally thousands of dollars by comparing - or waste that money if you don't do any comparison shopping.
But of course, who wants to sit around in front of the computer or get on the phone and dial up company after company?
Fortunately there are many online sites that allow you to compare car insurance rates from many different companies right there on their site.
Here is a partial list of these auto insurance web sites:
www.geico.com
www.insurance.com
www.netquote.com
www.uswitch.com
www.insurance-compare-save.com
www.progressive.com
As this option of being able to compare car insurance quotes from competitors becomes more popular, you will be able to get comparison quotes from more and more companies as time goes on.
Of course, you do need to be careful and make sure that a company is not purposely inflating their competitor's prices just to get your business.
Be wary of any company that offers to compare car insurance quotes but that always seems to have the lowest rate or one that is whose quote is quite a bit lower than all their competitors.
Remember the words, "Look before you Leap"!
Don't go off half crazy and sign for the first cheap auto insurance quote you get.
Read everything on that auto insurance policy, yes, even the fine print!
You also want to be sure that you're only getting the car insurance coverage that you need for your particular vehicle.
Make sure you can raise your deductible in order to lower your premiums if you're a good driver, or that you're not getting full coverage for very old vehicles that are paid for.
When you compare car insurance quotes, you need to make sure the information you're getting back from those companies is the most accurate!
If your not sure which is the best auto quote for you to go with you may just want to follow the traditional auto insurance route and call an insurance broker.
This is because there can be a large difference in insurance rates from company to company, and you can save yourself literally thousands of dollars by comparing - or waste that money if you don't do any comparison shopping.
But of course, who wants to sit around in front of the computer or get on the phone and dial up company after company?
Fortunately there are many online sites that allow you to compare car insurance rates from many different companies right there on their site.
Here is a partial list of these auto insurance web sites:
www.geico.com
www.insurance.com
www.netquote.com
www.uswitch.com
www.insurance-compare-save.com
www.progressive.com
As this option of being able to compare car insurance quotes from competitors becomes more popular, you will be able to get comparison quotes from more and more companies as time goes on.
Of course, you do need to be careful and make sure that a company is not purposely inflating their competitor's prices just to get your business.
Be wary of any company that offers to compare car insurance quotes but that always seems to have the lowest rate or one that is whose quote is quite a bit lower than all their competitors.
Remember the words, "Look before you Leap"!
Don't go off half crazy and sign for the first cheap auto insurance quote you get.
Read everything on that auto insurance policy, yes, even the fine print!
You also want to be sure that you're only getting the car insurance coverage that you need for your particular vehicle.
Make sure you can raise your deductible in order to lower your premiums if you're a good driver, or that you're not getting full coverage for very old vehicles that are paid for.
When you compare car insurance quotes, you need to make sure the information you're getting back from those companies is the most accurate!
If your not sure which is the best auto quote for you to go with you may just want to follow the traditional auto insurance route and call an insurance broker.
Liability Medical Payments
While auto insurance has its own terminology, most of it is unfamiliar to anyone not involved in the industry.
We all know the importance of having it, with some being mandatory, there are additional coverage allowances that protect us even further.
Each state governs the requirements, so you should always check to be sure what your particular state requires.
The best place to obtain this information is to contact an insurance agent who understands the laws of your state when discussing automobile insurance coverage.
One factor when selecting an auto policy is to know if you reside in a “no fault” state.
Auto Insurance In-depth, describes “no fault” as, “an auto insurance system that both requires drivers to carry insurance for their own protection, and that places limitations on their ability to sue other drivers for damages.”
If you happen to reside in one of these states, your basic liability policy will provide this provision in its coverage. Keep in mind, this only covers protection for the amount of coverage you obtain.
Having several names within the industry, personal injury protection, or PIP, is the most common. In those states personal injury protection is not required, addition of the coverage is offered for an additional cost; however, not in all states. Regardless of “no fault” or not, additional amounts and exclusions are usually determined by the insurance company.
While bodily injury financially covers occupants in any other vehicle(s) involved and any passenger(s) not listed on your policy is included in your general liability auto policy, PIP covers you.
Medical payment coverage, sometimes called “MedPay”, involves expenses incurred while you are driving. In addition, it also provides coverage while driving someone else’s vehicle with permission and injuries sustained if you are a pedestrian.
While PIP covers medical expenses, it does not always cover costs associated with the injury, i.e. lost wages, costs and funeral expenses. While “MedPay” is another form of PIP, it provides added security of the costs associated with an injury, should an accident be fatal or disabling.
In consideration of adding PIP or “MedPay” to your policy, unless mandated by state law, you should consider the cost of the coverage versus other policies you may already have in effect.
While basic health, life and disability insurance would provide the same benefits, lacking any of these policies makes adding this a wise decision. Another question to ask is if your policy allows combining your coverage amount. In example, if you have two vehicles insured with $10,000 in medical payment coverage, will that allow a total of $20,000 should one accident occur?
One other thing when selecting the correct auto policy is to read the exclusions. Each insurance company establishes their own exclusions. While the majority of all policies contain basic exclusions (non coverage) such as use as a business vehicle (i.e. taxi), driving while under your employer’s coverage or workman’s comp, injury sustained in the commission of a crime and acts of war, your policy may contain additional items that could affect your financial outcome in the case of an accident.
With the exception of “no fault” states where coverage is mandatory, adding liability medical payments to your policy should be carefully considered in both your monthly and overall financial situation.
We all know the importance of having it, with some being mandatory, there are additional coverage allowances that protect us even further.
Each state governs the requirements, so you should always check to be sure what your particular state requires.
The best place to obtain this information is to contact an insurance agent who understands the laws of your state when discussing automobile insurance coverage.
One factor when selecting an auto policy is to know if you reside in a “no fault” state.
Auto Insurance In-depth, describes “no fault” as, “an auto insurance system that both requires drivers to carry insurance for their own protection, and that places limitations on their ability to sue other drivers for damages.”
If you happen to reside in one of these states, your basic liability policy will provide this provision in its coverage. Keep in mind, this only covers protection for the amount of coverage you obtain.
Having several names within the industry, personal injury protection, or PIP, is the most common. In those states personal injury protection is not required, addition of the coverage is offered for an additional cost; however, not in all states. Regardless of “no fault” or not, additional amounts and exclusions are usually determined by the insurance company.
While bodily injury financially covers occupants in any other vehicle(s) involved and any passenger(s) not listed on your policy is included in your general liability auto policy, PIP covers you.
Medical payment coverage, sometimes called “MedPay”, involves expenses incurred while you are driving. In addition, it also provides coverage while driving someone else’s vehicle with permission and injuries sustained if you are a pedestrian.
While PIP covers medical expenses, it does not always cover costs associated with the injury, i.e. lost wages, costs and funeral expenses. While “MedPay” is another form of PIP, it provides added security of the costs associated with an injury, should an accident be fatal or disabling.
In consideration of adding PIP or “MedPay” to your policy, unless mandated by state law, you should consider the cost of the coverage versus other policies you may already have in effect.
While basic health, life and disability insurance would provide the same benefits, lacking any of these policies makes adding this a wise decision. Another question to ask is if your policy allows combining your coverage amount. In example, if you have two vehicles insured with $10,000 in medical payment coverage, will that allow a total of $20,000 should one accident occur?
One other thing when selecting the correct auto policy is to read the exclusions. Each insurance company establishes their own exclusions. While the majority of all policies contain basic exclusions (non coverage) such as use as a business vehicle (i.e. taxi), driving while under your employer’s coverage or workman’s comp, injury sustained in the commission of a crime and acts of war, your policy may contain additional items that could affect your financial outcome in the case of an accident.
With the exception of “no fault” states where coverage is mandatory, adding liability medical payments to your policy should be carefully considered in both your monthly and overall financial situation.
Convictions Car Insurance
Convictions Car Insurance
In recent years the number of uninsured drivers has risen to 1 in 20, that is both an astounding and appalling number in our eyes. We thought we'd take this opportunity to talk about some of the measures that are being taken to stamp this number down to something a bit more sensible.
We don't see why convictions and car insurance can't go together, so that's simply no excuse for driving uninsured. Many people have a few points on their license these days but thats another discussion.
Last year Professor David Greenway lead a review to find out what can be done to sort this problem out once and for all. Unfortunately the answer isn't as simple as "reduce insurance premiums" because the insurance houses need to be sure that they can cover any potential losses.
The report concluded that offenders simply aren't worried about being caught because the punishments are often trivial in the offenders eyes. If someone is caught driving without insurance, they are usually fined £200 and have their license (if they have one) confiscated. They are often convicted of driving without car insurance but this has little effect on people who knowingly do it.
You have to ask yourself who thought up these rules because the kind of person who repeatedly drives without insurance isn't really going to be bothered about losing their license are they? If you ask us, there should be much harsher punishments available, we won't say what they are in case any children are reading this.
However, we all understand that you can occassionally forget to renew your insurance and we don't feel these people should be penalised too heavily, everybody forgets things from time to time and I think we just need to use a little common sense.
However, it looks like the government might finally be getting it's act together and are bringing in some more legisalation that they hope is going to reduce this problem.
In recent years the number of uninsured drivers has risen to 1 in 20, that is both an astounding and appalling number in our eyes. We thought we'd take this opportunity to talk about some of the measures that are being taken to stamp this number down to something a bit more sensible.
We don't see why convictions and car insurance can't go together, so that's simply no excuse for driving uninsured. Many people have a few points on their license these days but thats another discussion.
Last year Professor David Greenway lead a review to find out what can be done to sort this problem out once and for all. Unfortunately the answer isn't as simple as "reduce insurance premiums" because the insurance houses need to be sure that they can cover any potential losses.
The report concluded that offenders simply aren't worried about being caught because the punishments are often trivial in the offenders eyes. If someone is caught driving without insurance, they are usually fined £200 and have their license (if they have one) confiscated. They are often convicted of driving without car insurance but this has little effect on people who knowingly do it.
You have to ask yourself who thought up these rules because the kind of person who repeatedly drives without insurance isn't really going to be bothered about losing their license are they? If you ask us, there should be much harsher punishments available, we won't say what they are in case any children are reading this.
However, we all understand that you can occassionally forget to renew your insurance and we don't feel these people should be penalised too heavily, everybody forgets things from time to time and I think we just need to use a little common sense.
However, it looks like the government might finally be getting it's act together and are bringing in some more legisalation that they hope is going to reduce this problem.
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