Dealing with the ins and outs of auto insurance can be as tricky and confusing as trying to untie the Gordian knot. Although we can`t help you with the knotty Gordian problem, the following recommendations could help you figure out some of the more complicated points of auto insurance.
1) Determine appropriate coverage.
Help control the price you pay, just ask American Insurance Association executive Dave Snyder. For example, Snyder notes that half of your auto insurance bill covers liability and "that has to do with how you are going to use the vehicle, such as for commuting to work and your driving record. If you`ve got a clean driving record, you figure to pay less for insurance than you would if you had a speeding ticket on your record. You can control the other half of your premium which covers damage or loss to your vehicle, comprehensive and collision coverage."
2) Shop around for insurance.
"In most states," Snyder reports, "there are hundreds of insurers competing for business, so it`s possible to save hundreds of dollars by obtaining quotes from different auto insurance providers." Picking up on Snyder`s theme is his AIA colleague, Nicole Mahrt. Mahrt urges you to work with your insurance provider to get more than one quote. "It pays you to shop around, especially if you feel you`ve been paying too much."
3) Look for insurance discounts.
"Many insurers will give you a discount if you buy two or more types of insurance from them, for example auto and home insurance," confirms John Marchioni, senior vice president of Personal Lines for Selective Insurance, in Branchville, N.J. More cost-saving suggestions from Marchioni: "Ask about discounts for air bags, anti-lock brakes, daytime running lights and anti-theft devices."
4) Consider taking a higher deductible.
"You could lower your insurance bill by increasing your deductible," Mahrt says. "But just make sure you can pay the higher deductible if you file a claim."
5) Look into "stacking" coverages if you file an insurance claim.
Insurance trade group officer Daniel Kummer explains that stacking uninsured/underinsured motorist coverages means "you can collect from more than one of your auto insurance policies. Most states prohibit this practice, but there are about 19 states that either allow stacking or don't address the issue either through legislation or litigation," according to Kummer, director of personal insurance for the Property Casualty Insurers Association of America. "Be sure to check your auto insurance contract to see if it's allowed. "Be advised that you`ll likely pay a higher insurance premium if you have stacked coverage. "It could be 10% to 30% more depending on the litigious nature of the state in which you reside," says Kummer.
6) Check with your insurance provider BEFORE buying a car.
"Your premium is based in part on the car`s sticker price, the cost to repair it, its safety record and the likelihood of theft," answers Selective`s John Marchioni. Remember to avoid shopping by price alone. "You want an agent and a company that answer your questions and handle claims fairly and efficiently," emphasizes Marchioni, senior vice president of Personal Lines for Selective Insurance.
7) Notify your auto insurance company as soon as you change companies.
"Be sure to cancel your old policy," suggests PCI`s Dan Kummer. "Do it the same day, but don`t cancel your old policy until you`ve lined up a new contract. That`s important because some states like New York will fine you for the number of days you go without insurance." One last thought from Kummer on the subject: "Most auto insurers specify in your contract that you can terminate your policy any time you want by informing your company in writing about the date you wish that coverage be terminated or you can do that over the phone.
8) Pick the insurance payment option that best fits your budget.
"Generally, most companies will give you the ability to pay over time, but that comes at a price," says Kummer. "Your payment could increase a few dollars each time you pay by installment. Insurers can accept payments monthly, quarterly, or every six months, what ever is most convenient for you. Remember, though, that the more you break down your payments, the more the cost adds up."
Selasa, 17 Juni 2008
Save On Auto Insurance with a Hybrid
Between gas prices and the economy, American drivers are having trouble deciding what autos to buy. Many people are exploring alternatives, from bikes, to buses, to biofuels. One auto alternative is hybrid cars. But what exactly is a hybrid and why would you want one?
Gas Mileage. The reason most people want a hybrid is because of the great gas mileage they can get. How is this possible? Technology for hybrid autos varies, but higher fuel efficiency is usually accomplished with an electric motor. Batteries store energy recovered during braking and supply that energy back to the electric motor, cutting down on the amount of gas used. A 2008 Toyota Prius, for example, gets an EPA estimated 46 MPG for combined use, while a 2008 Honda Civic Hybrid gets an EPA combined rating of 42 MPG.
Hybrid Types. However, make sure you understand what type of hybrid you’re buying. Some hybrids are designed not to save gas, but to increase performance. For example, there are sports autos that take the gas engine from another model and add an electric motor to increase power. This design uses less gas than an auto with a bigger gas engine, but could actually use more gas overall than the same auto without the electric motor. A 2008 Lexus GS 450h gets an EPA estimated 23 MPG combined, while the 2008 Ford Escape Hybrid gets an EPA rated 32 MPG. Buying a hybrid doesn’t automatically mean you’ll get better mileage than a big SUV does.
Discounts. You could be eligible for discounts if you buy a hybrid. Although their numbers are dropping quickly, some hybrid models may qualify for a federal tax incentive. In addition, many states offer tax incentives, parking incentives, and other toll or driving incentives. When you add these savings into the amount you can save in gas, suddenly a hybrid auto doesn’t seem as expensive.
Gas Mileage. The reason most people want a hybrid is because of the great gas mileage they can get. How is this possible? Technology for hybrid autos varies, but higher fuel efficiency is usually accomplished with an electric motor. Batteries store energy recovered during braking and supply that energy back to the electric motor, cutting down on the amount of gas used. A 2008 Toyota Prius, for example, gets an EPA estimated 46 MPG for combined use, while a 2008 Honda Civic Hybrid gets an EPA combined rating of 42 MPG.
Hybrid Types. However, make sure you understand what type of hybrid you’re buying. Some hybrids are designed not to save gas, but to increase performance. For example, there are sports autos that take the gas engine from another model and add an electric motor to increase power. This design uses less gas than an auto with a bigger gas engine, but could actually use more gas overall than the same auto without the electric motor. A 2008 Lexus GS 450h gets an EPA estimated 23 MPG combined, while the 2008 Ford Escape Hybrid gets an EPA rated 32 MPG. Buying a hybrid doesn’t automatically mean you’ll get better mileage than a big SUV does.
Discounts. You could be eligible for discounts if you buy a hybrid. Although their numbers are dropping quickly, some hybrid models may qualify for a federal tax incentive. In addition, many states offer tax incentives, parking incentives, and other toll or driving incentives. When you add these savings into the amount you can save in gas, suddenly a hybrid auto doesn’t seem as expensive.
Children and Auto Accidents - Are seat belts to blame?
“Nearly 500 children between the ages of five and nine are killed each year in auto accidents, and over 100,000 are injured due to improper seat belt use,” says Judith Lee Stone, president for Advocates for Highway Safety.
Statistics
Statistics from the Advocates for Highway Safety, a nonprofit highway safety group, and the Child Passenger Safety Study, a joint venture among State Farm Mutual Automobile Insurance Co., the Children's Hospital of Philadelphia, and the University of Pennsylvania, show that children under the age of 10 are most susceptible to injury in car accidents because they are wearing adult seat belts when they should in fact still be in child safety seats.
The Child Passenger Safety Study found that more than 80% of children between the ages of four and eight are properly restrained. However, 40% of children between the ages of one and two and 20% of children between the ages of nine and 15 are not properly restrained. “With these kinds of statistics, something needs to be done,” notes Stone.
A Call for Change!
Stone believes there should be state and federal requirements on the use of booster seats, which provide a “platform” that lifts the child up from the seat and allows the seatbelt to fit properly. This would allow children who are too big for toddler restraints, but too small for adult safety belts, to ride safely. Washington, Arkansas and California have already implemented a booster seat law, requiring children under the age of six or 60 pounds, to use a booster seat. “Fifteen to twenty other states are considering the same act,” says Stone.
Tim Hurd, a spokesperson for the National Highway Traffic Safety Administration (NHTSA) says that the Transportation Recall Enhancement, Accountability, and Documentation (TREAD) Act, enacted on November 1, 2000, addresses the need for booster seats. He believes booster seats are the primary way to curb death and injuries for those in the four-to-eight year old age group.
Statistics
Statistics from the Advocates for Highway Safety, a nonprofit highway safety group, and the Child Passenger Safety Study, a joint venture among State Farm Mutual Automobile Insurance Co., the Children's Hospital of Philadelphia, and the University of Pennsylvania, show that children under the age of 10 are most susceptible to injury in car accidents because they are wearing adult seat belts when they should in fact still be in child safety seats.
The Child Passenger Safety Study found that more than 80% of children between the ages of four and eight are properly restrained. However, 40% of children between the ages of one and two and 20% of children between the ages of nine and 15 are not properly restrained. “With these kinds of statistics, something needs to be done,” notes Stone.
A Call for Change!
Stone believes there should be state and federal requirements on the use of booster seats, which provide a “platform” that lifts the child up from the seat and allows the seatbelt to fit properly. This would allow children who are too big for toddler restraints, but too small for adult safety belts, to ride safely. Washington, Arkansas and California have already implemented a booster seat law, requiring children under the age of six or 60 pounds, to use a booster seat. “Fifteen to twenty other states are considering the same act,” says Stone.
Tim Hurd, a spokesperson for the National Highway Traffic Safety Administration (NHTSA) says that the Transportation Recall Enhancement, Accountability, and Documentation (TREAD) Act, enacted on November 1, 2000, addresses the need for booster seats. He believes booster seats are the primary way to curb death and injuries for those in the four-to-eight year old age group.
Websites for Free Quotes for Car Insurance
If you're looking for free quotes for car insurance, your information is just a few keystrokes away.
The internet is a wealth of information for just about anything that you might be search for these days, and free quotes for car insurance are no different.
By entering just a little bit of information you can get a quote instantly and even get comparison rates from other companies as well.
Some popular sites include:
www.geico.com
www.esurance.com
www.insurancehome.com
www.insurance-compare-save.com
www.insureme.com
www.centuryquotes.com
www.thehartford.com
www.netquote.com
www.forbes.com
www.carinsurance.com
www.unitrindirect.com
www.mercuryinsurance.com
When searching online for free quotes for car insurance, keep in mind that you'll need to provide some, if not all, of the following information:
1. Your car's make and model
2. Your home address
3. How many miles you commute to and from work
4. The ages and names of other drivers living in your household
5. Possibly your health insurance information
6. If and how many points are on your driving record
and/or
7. How many tickets and accidents you've had in the past three to seven years.
Of course you don't need to rely on the internet alone for free quotes for car insurance. You can use a local search to find nearby insurance companies and simply call them up for a quote.
Most companies will take your information and get right back with you regarding your cost and down payment amount. Some even have their own websites that will provide free quotes for car insurance; you simply enter in this same information and a sales representative will call you with your quote.
Most of course prefer the online option, as it can take quite some time talking to a real person over the phone to get those free quotes for car insurance; considering the interruptions and the time it takes to go through their process, the online quote process is usually much easier to deal with.
The internet is a wealth of information for just about anything that you might be search for these days, and free quotes for car insurance are no different.
By entering just a little bit of information you can get a quote instantly and even get comparison rates from other companies as well.
Some popular sites include:
www.geico.com
www.esurance.com
www.insurancehome.com
www.insurance-compare-save.com
www.insureme.com
www.centuryquotes.com
www.thehartford.com
www.netquote.com
www.forbes.com
www.carinsurance.com
www.unitrindirect.com
www.mercuryinsurance.com
When searching online for free quotes for car insurance, keep in mind that you'll need to provide some, if not all, of the following information:
1. Your car's make and model
2. Your home address
3. How many miles you commute to and from work
4. The ages and names of other drivers living in your household
5. Possibly your health insurance information
6. If and how many points are on your driving record
and/or
7. How many tickets and accidents you've had in the past three to seven years.
Of course you don't need to rely on the internet alone for free quotes for car insurance. You can use a local search to find nearby insurance companies and simply call them up for a quote.
Most companies will take your information and get right back with you regarding your cost and down payment amount. Some even have their own websites that will provide free quotes for car insurance; you simply enter in this same information and a sales representative will call you with your quote.
Most of course prefer the online option, as it can take quite some time talking to a real person over the phone to get those free quotes for car insurance; considering the interruptions and the time it takes to go through their process, the online quote process is usually much easier to deal with.
Do You Need Optional Insurance When You're Renting A Car?
You're standing at the car rental counter waiting to start your vacation when you're asked a tricky question.
Do you want to buy damage waivers, also known as car rental insurance?
How will you answer?
"Knowing if you need to buy rental insurance can save you money and give you peace of mind," says Rick Crawley with Progressive.
"Optional insurance could nearly double the cost of the rental. Do your homework and know before you go."
Here are some pointers:
• Review your policy with your independent insurance agent. Your agent can evaluate your personal car insurance policy to find out if you are covered in a vacation rental car.
• Check with your credit card company. Some credit cards provide coverage at no charge if you use their card to pay for the rental. However, some restrictions may apply. Be sure to ask for an exact description of what's covered.
• Take your insurance policy "Declarations Page" with you to the rental counter. You may be asked a question that these papers can answer. If you're not sure of an answer, you'll have your agent's name and phone number readily available.
"Generally, if you have comprehensive, collision and liability coverages on your personal car insurance policy, there's a good chance you'll be covered in a rental car," says Crawley.
"Check with your agent to be sure. If you are covered, you would be liable only for the deductible on comprehensive and collision coverages, just like your personal vehicle."
Do you want to buy damage waivers, also known as car rental insurance?
How will you answer?
"Knowing if you need to buy rental insurance can save you money and give you peace of mind," says Rick Crawley with Progressive.
"Optional insurance could nearly double the cost of the rental. Do your homework and know before you go."
Here are some pointers:
• Review your policy with your independent insurance agent. Your agent can evaluate your personal car insurance policy to find out if you are covered in a vacation rental car.
• Check with your credit card company. Some credit cards provide coverage at no charge if you use their card to pay for the rental. However, some restrictions may apply. Be sure to ask for an exact description of what's covered.
• Take your insurance policy "Declarations Page" with you to the rental counter. You may be asked a question that these papers can answer. If you're not sure of an answer, you'll have your agent's name and phone number readily available.
"Generally, if you have comprehensive, collision and liability coverages on your personal car insurance policy, there's a good chance you'll be covered in a rental car," says Crawley.
"Check with your agent to be sure. If you are covered, you would be liable only for the deductible on comprehensive and collision coverages, just like your personal vehicle."
Getting your Auto Insurance Quote Online
Why choose to get your auto insurance quote online? Well, first of all, it's the most effective way of shopping around for rates, brand, coverage, or whatever it is that you're searching for.
What would you prefer, contacting five different companies and repeatedly answer their questions or shopping for auto insurance online by completing one single questionnaire and instantly getting back multiple rates from leading companies? That's a no brainer!
Of course, most government websites even encourage the comparison of multiple rates in order to ensure that you're paying reasonable premiums and not overpaying.
Getting your auto insurance quote online from leading carriers is easier than many think. All that is required is a few steps and in most states, visitors can even purchase a policy online!
There a a few things you should have prepared before beginning your instant online quote request. First you should gather basic information from the drivers that will be on your policy as well as information about the vehicles you are looking to add. You also should consider ahead of time what coverage you're in need of.
If you need help understanding coverage, you can visit the auto insurance learning center to get a lot of valuable information which would help you make intelligent decisions and avoid costly mistakes from misunderstandings of coverage. Many have been mislead or were under the impression that they would be covered in case of a certain loss and came to find out that they weren't; that's why it is very important to know what coverage will protect your assets and protect you against liabilities.
Millions of people are realizing that getting quotes online is the easiest and most efficient way of shopping for rates. Visit OnlineAutoInsurance.com today for your free, no obligation comparison from leading insurers. If you wish you may even be able to buy your policy instantly and receive instant proof of coverage.
What would you prefer, contacting five different companies and repeatedly answer their questions or shopping for auto insurance online by completing one single questionnaire and instantly getting back multiple rates from leading companies? That's a no brainer!
Of course, most government websites even encourage the comparison of multiple rates in order to ensure that you're paying reasonable premiums and not overpaying.
Getting your auto insurance quote online from leading carriers is easier than many think. All that is required is a few steps and in most states, visitors can even purchase a policy online!
There a a few things you should have prepared before beginning your instant online quote request. First you should gather basic information from the drivers that will be on your policy as well as information about the vehicles you are looking to add. You also should consider ahead of time what coverage you're in need of.
If you need help understanding coverage, you can visit the auto insurance learning center to get a lot of valuable information which would help you make intelligent decisions and avoid costly mistakes from misunderstandings of coverage. Many have been mislead or were under the impression that they would be covered in case of a certain loss and came to find out that they weren't; that's why it is very important to know what coverage will protect your assets and protect you against liabilities.
Millions of people are realizing that getting quotes online is the easiest and most efficient way of shopping for rates. Visit OnlineAutoInsurance.com today for your free, no obligation comparison from leading insurers. If you wish you may even be able to buy your policy instantly and receive instant proof of coverage.
Do You Know the Auto Insurance Basics?
If you drive, you know how crazy it gets out there. Accidents happen, fenders get bent, people get hurt. Or you're innocently parked in your driveway and a tree limb crashes through your windshield. When disaster strikes, auto insurance is there to protect you.
Why buy auto insurance?
1.) Auto insurance protects you against the financial risk associated with personal injuries and property damage caused by auto accidents, theft, vandalism, or natural disasters.
2.) All states require you to purchase at least a minimum amount of liability coverage. Other types of auto insurance coverage may be optional or required, depending on state regulations.
3.) If you have a car loan outstanding, you'll generally be required by the lender to purchase at least a minimum amount of auto insurance.
Liability coverage
You'll be required by state law to purchase a minimum amount of some or all of the following types of liability coverage:
Bodily injury liability: Protects your assets if you are held liable for an auto accident in which other people are injured or killed.
Property damage liability: Covers repairing or replacing the autos or other property of other people.
Uninsured/underinsured motorist coverage: Unless you live in a "no-fault" state (where your own insurance will cover your losses), this coverage insures you against losses caused by other drivers with little (underinsured) or no (uninsured) auto insurance.
To adequately protect yourself, you may want to purchase much more than the minimum amount of coverage required in your state.
Collision, other-than-collision, and medical payments coverages
Although these types of coverage are optional in most states, it often makes sense to purchase them, unless you can afford to pay for damages yourself.
Collision: Pays to repair or replace your car if it's damaged in an accident.
Comprehensive: Insures your car against damage caused by something other than an auto accident (e.g., theft, fire, flood, vandalism).
Medical payments or personal injury protection: Covers various medical expenses not covered by your health insurance or your passengers'.
And then the insurance company pays for everything, right?
Wouldn't that be nice? But it's not always true. Here are some things you'll always need to cover yourself:
Deductibles: The amount of money that you've agreed to pay out of your own pocket before your insurance coverage kicks in.
Exclusions: Events or situations your policy specifically omits from coverage, such as property damage or personal injury you intentionally cause to others, or damage to your own car due to mechanical failure.
Costs above limitations: Any expenses for which you're responsible that exceed the caps on the dollar amounts of coverage you're entitled to receive under your policy.
Driving a good bargain
Many factors affect your auto insurance premium, including your age, the state in which you live, the make and model of your car, where your car is garaged, and your driving record. Although you can't do much about some of these factors, here are some things you can do to help lower your premiums:
Increase your insurance deductible.
Eliminate optional coverages (e.g., towing and labor, rental insurance) from your auto insurance.
Eliminate collision and comprehensive coverage if you drive an older car valued at less than $1,000 and could afford to pay for repairs if necessary.
Ask about available discounts (e.g., low-mileage discounts, discounts for safety or antitheft devices) for your auto insurance.
Avoid buying a vehicle that is prone to theft or expensive to repair.
Keep your car in a garage.
Drive safely to establish a good driving record.
Shop around
It's important to shop around for auto insurance coverage. Insurance premiums for the same coverage on the same car can vary widely among different insurers, even in states that regulate auto insurance rates. A particularly good time to investigate your alternatives is when your current insurance policy is up for renewal, but you can shop and change policies at any time. Get quotes from several reputable companies, but don't let price be your only consideration. Make sure the coverage offered by each insurer meets your needs, and find out whether the insurer has a good track record in the industry (contact your state's department of insurance for more information).
Why buy auto insurance?
1.) Auto insurance protects you against the financial risk associated with personal injuries and property damage caused by auto accidents, theft, vandalism, or natural disasters.
2.) All states require you to purchase at least a minimum amount of liability coverage. Other types of auto insurance coverage may be optional or required, depending on state regulations.
3.) If you have a car loan outstanding, you'll generally be required by the lender to purchase at least a minimum amount of auto insurance.
Liability coverage
You'll be required by state law to purchase a minimum amount of some or all of the following types of liability coverage:
Bodily injury liability: Protects your assets if you are held liable for an auto accident in which other people are injured or killed.
Property damage liability: Covers repairing or replacing the autos or other property of other people.
Uninsured/underinsured motorist coverage: Unless you live in a "no-fault" state (where your own insurance will cover your losses), this coverage insures you against losses caused by other drivers with little (underinsured) or no (uninsured) auto insurance.
To adequately protect yourself, you may want to purchase much more than the minimum amount of coverage required in your state.
Collision, other-than-collision, and medical payments coverages
Although these types of coverage are optional in most states, it often makes sense to purchase them, unless you can afford to pay for damages yourself.
Collision: Pays to repair or replace your car if it's damaged in an accident.
Comprehensive: Insures your car against damage caused by something other than an auto accident (e.g., theft, fire, flood, vandalism).
Medical payments or personal injury protection: Covers various medical expenses not covered by your health insurance or your passengers'.
And then the insurance company pays for everything, right?
Wouldn't that be nice? But it's not always true. Here are some things you'll always need to cover yourself:
Deductibles: The amount of money that you've agreed to pay out of your own pocket before your insurance coverage kicks in.
Exclusions: Events or situations your policy specifically omits from coverage, such as property damage or personal injury you intentionally cause to others, or damage to your own car due to mechanical failure.
Costs above limitations: Any expenses for which you're responsible that exceed the caps on the dollar amounts of coverage you're entitled to receive under your policy.
Driving a good bargain
Many factors affect your auto insurance premium, including your age, the state in which you live, the make and model of your car, where your car is garaged, and your driving record. Although you can't do much about some of these factors, here are some things you can do to help lower your premiums:
Increase your insurance deductible.
Eliminate optional coverages (e.g., towing and labor, rental insurance) from your auto insurance.
Eliminate collision and comprehensive coverage if you drive an older car valued at less than $1,000 and could afford to pay for repairs if necessary.
Ask about available discounts (e.g., low-mileage discounts, discounts for safety or antitheft devices) for your auto insurance.
Avoid buying a vehicle that is prone to theft or expensive to repair.
Keep your car in a garage.
Drive safely to establish a good driving record.
Shop around
It's important to shop around for auto insurance coverage. Insurance premiums for the same coverage on the same car can vary widely among different insurers, even in states that regulate auto insurance rates. A particularly good time to investigate your alternatives is when your current insurance policy is up for renewal, but you can shop and change policies at any time. Get quotes from several reputable companies, but don't let price be your only consideration. Make sure the coverage offered by each insurer meets your needs, and find out whether the insurer has a good track record in the industry (contact your state's department of insurance for more information).
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