More than half of policyholders pay too much for auto insurance according to Progressive report. Another report shows that nearly 2/3 of policyholders don’t even know it since they never get alternative quotes. It is a good starting point to ask why you may be spending more on premiums than you should and this post…
Continue readingMonth: December 2013
Does My Auto Insurance Cover Rental Cars?
Before purchasing rental car insurance, drivers should review their existing vehicle insurance policies. Rental car insurance can be as costly as your daily rental fee, and if you already have coverage, buying insurance from the rental company would be redundant and a waste of money. Typically, a standard auto insurance policy automatically extends your coverage to…
Continue readingJoint Car Insurance Policy between Unmarried Couples
Having an equal share of things always comes with its perks and it is the same here. Having both names on a schedule of coverage or deed may eliminate the disputes over who has what too. However, it may come with its problems like shared liability in the eyes of the laws. Assuming this is…
Continue readingCan Late Auto Insurance Payments Affect Credit Score?
Vehicle Insurance companies typically refrain from reporting missed premium payments to credit agencies. Similarly, making regular premium payments does not contribute to improving your credit score since such activities are not reported either. However, it’s crucial to remember that failing to pay premiums can lead to the insurer canceling the policy after issuing a notice…
Continue readingWhy Is Car Insurance Mandatory?
States not only authorise the use of motor vehicles on public roads but also make roads for them to travel fast and comfortably. Equally, they are responsible for the well-being of their citizens and therefore they require every vehicle owner to buy Liability auto insurance in order to make sure there is a compensation for…
Continue readingWhy Is Car Insurance So High for Young Drivers?
Auto insurance premiums are significantly influenced by age, particularly during the teenage years. Young drivers, especially teenagers, are more likely to engage in impulsive decision-making and take risks while driving. Combined with lack of driving experience, they are more prone to accidents, including fatal crashes. This is supported by past claim loss data and statistical…
Continue readingHow Far Back Do Insurance Companies Check Driving Records?
Most motorists are well aware of what is coming next when they have recent claims and traffic violation tickets, which influence auto insurance premiums for some time because they are recorded by DMV and CLUE and seen by everyone interested. Car insurance companies check accident and driving records going back three to five years before…
Continue readingHow to File Claims with Third Party (Others’) Auto Insurers
An auto accident would stress you naturally. After you get over the initial shocks there are still many things to deal with. If there were injuries, physical suffering would be added to mental stress. Then, there are the issues of car repairs, claim forms and who is going to pay for the damages. It is…
Continue readingPros and Cons of Automatic Car Insurance Renewal
While purchasing automobile insurance, you may have opted for automatic policy renewal, where your insurer or agent sets up your policy to renew automatically at the end of each term without needing your active confirmation. While this can offer convenience, it can also lead to a situation of inertia where your car insurance policy remains…
Continue readingWhat to Do If Not Satisfied with Car Insurance Claim Settlements
Even with all the honest and good intentions there could be errors, omissions and mistakes in the way auto insurance companies handle claims. Also, there could be miscalculations and misjudgements on the parts of people involved. Expecting that everything would go without a single glitch may be too optimistic. The first contact point should be…
Continue readingWhat Is Duty of Utmost Good Faith and Disclosure?
Duty of utmost good faith is defined in the common law as a requirement for both parties to a contract to disclose all material facts. In an insurance contract (policy), the onus is on the insured or proposer as the contract starts with a proposal from someone (or organization) who wants to be insured and…
Continue readingWhat to Do if Unhappy with Vehicle Insurance Claim Handling?
Naturally, you will find many pages on websites about how they can save you money on premiums but not much information on how they handle customer grievances. Most policyholders are good at paying in time and they expect the same from carriers. So, what could they do if they are not happy with the way…
Continue readingWhat Is Personal Umbrella Liability Insurance Coverage?
These policies can be an economical way of handling possible liability claims against you personally due to various ownerships and activities. Generally, it is designed to protect you from large lawsuits brought against you by third parties. Therefore, it safeguards your assets and future. It works in two ways to achieve this objective. 1. It…
Continue readingWhat Happens If Car Insurance Lapses?
The moment you drop auto insurance or it is cancelled, you would be facing problems due to not having the legally required liability coverage and your vehicle isn’t insured either. Your state DMV will probably be informed by your insurer of the fact that you don’t have liability coverage. If this is not resolved quickly…
Continue readingWhen to Drop Collision Auto Insurance?
Collision car insurance plays a crucial role in protecting vehicles against accident-related losses. However, there are circumstances where it may be prudent to consider dropping collision insurance to save money. Let’s discuss the intricacies of collision and comprehensive coverage, their relationship, and explore when it’s appropriate to drop both coverages and opt for liability-only vehicle…
Continue readingWhat Happens if I Drop my Car Insurance Coverage?
Firstly, it is important to note that a car must be insured in order to be driven and protected against damages. When planning to be away for an extended period, you may consider dropping your auto insurance coverage. However, this decision should be carefully evaluated based on various factors. If you have a secure private…
Continue readingWhen Do I Get my Car Insurance Renewal Quote?
Every coverage has a predetermined expiration date at the end of the term, which is either 6 or 12 months. Often, policyholders wait until they receive auto insurance renewal quotes to shop around or make changes to policies. The renewal notice usually arrives about 30 days before the expiration date by email or mail and…
Continue readingMaximum Liability Auto Insurance Limits
It is important to understand and appreciate how bad third-party claims against you can get, especially if you have a fair amount of assets, which you worked all your life to accumulate for your retirement and family’s future. If your liability car insurance reaches its maximum limits, you will have to cover the rest of…
Continue readingHow Car Insurance Deductibles Work
It may appear to be inconsequential or even a given figure at times but vehicle insurers put deductibles in policies mainly to control small claims. Some people like to keep them as low as possible and some may have to go low due to financial strains. Other motorists realize the close relationship between deductibles and…
Continue readingAffordable Insurance for Older Automobiles
If you own an older vehicle, it’s advisable to review your insurance policy as your current carrier may not automatically or adequately reduce premiums in accordance with the declining value of your car. Despite the expectation of reduced rates for older cars, many owners may find their premiums haven’t decreased as much as anticipated. This…
Continue readingWhat is Pleasure Use Car Insurance?
You may see a choice of “pleasure only” on an automobile insurance quote form and wonder what it means. You would naturally want to know if it would allow commuting and afford cheaper rates. There is a reason why there is a distinction and it may come with limitations. So, let’s have a look at…
Continue readingWhich Professions Qualify for Car Insurance Savings?
Certain professions can help you save money on your auto insurance premiums. While the specific discounts and savings may vary between companies and states, many insurers recognize that individuals in certain occupations tend to exhibit responsible driving behaviors and present lower risks. Let’s explore various professions that commonly qualify for car insurance savings, based on…
Continue readingCan I Backdate Insurance to Cover my New Car from Purchase?
I bought a new car and kept it several days at home because I knew that my current carrier insures it automatically for up to 30 days. Can I ask them to show that the policy started from the date of auto purchase if I buy now? I don’t want to explain to DMV why…
Continue readingHow Does the Car I Own Affect My Insurance Rates?
Vehicles insured is one of the main factors impacting auto insurance rates along with the listed drivers, zip codes and credit scores. The influence of the car is heightened when the driver is already considered riskier. Companies look at the automobile’s make, model, type, engine size, safety features, value, size, accident and insurance ratings when…
Continue readingHow to Get Cheap Insurance for New Cars
Motorists can get carried away and make a rush decision when they are smitten with a shiny new ride they have just seen. The thing is that there are so many choices and buying one instead of the other can mean lower costs for fuel, maintenance and insurance. So, they should take their time and…
Continue readingHow to Insure Multiple Cars on One Policy
In most cases, this option may serve well for households with several vehicles, even if they are driven by or registered to a different member of the family. If you want cheap auto insurance premiums you need to find smart ways to increase discounts. You should be able to have multiple automobiles on one policy…
Continue readingAuto Insurance with Roommates
Roommates could be anyone like a friend, girlfriend, boyfriend, sibling or anyone else who is sharing the same living space with you, except spouses. Usually, you can add anyone on your policy even if they don’t live with you and you need to disclose to your insurance company who is living with you with their…
Continue readingStacked and Unstacked Auto Insurance Coverage
Many states will not allow motorists to increase Uninsured Motorist coverage limits without increasing liability as well. The point they are trying to make is that if you aren’t willing to afford the same protection to third parties you cannot have it either. Stacking is an option to get around it and add coverage for…
Continue readingWhat Is an Excluded Driver on an Insurance Policy?
An excluded driver is someone in your household who has been explicitly left out from your car insurance coverage. This is usually done with an endorsement on the policy showing the name of the driver and clearly marking the person as excluded from driving the insured car. Then, such a person isn’t insured and any…
Continue readingHow Much Can You Save with a Multi-car Insurance Policy?
A multi-car insurance policy can potentially help you save money compared to insuring each vehicle individually. These discounts can range from around 5% to 20% off the total premium. The more vehicles you add to the policy, the higher the potential savings may be. The exact amount will vary depending on various factors like the…
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