Common Types of Auto Insurance Coverage

Providing you purchased the required coverages, car insurance policies offer financial assistance when you are involved in accidents or suffer losses due to other perils by paying claims against you when you cause accidents and compensating you for your own damages and injuries. The most common types of vehicle insurance coverages include liability, uninsured/underinsured motorists,…

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Auto Insurance Market Size and Competition

The size of the US car insurance market is $348.9 billion in 2022. Only 5 companies, State Farm, GEICO, Progressive, Allstate and USAA, have 60% share of the market, although there are many other well established carriers serving motorists. So, when motorists switch providers, they often replace one well established and largest vehicle insurer for…

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Does Owning the Auto Affect Insurance Costs?

Several factors influence car insurance rates, including your driving history, age, location, and vehicle specifications. The ownership status of your car, whether it’s owned, financed, or leased, doesn’t directly impact the assessed level of risk. Consequently, this factor isn’t considered during the computation of your auto insurance premium. Generally, making changes like adding or removing…

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Auto Insurance without Drivers License

Car insurance is a fundamental requirement for operating a vehicle on public roads in virtually every state. Typically, possessing a valid driver’s license is a prerequisite for purchasing auto insurance. However, there are exceptional situations where individuals without a driver’s license may have a legitimate need for coverage. And in certain situations, the coverage may…

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The Best Cars for Teenage Drivers

Passing the driver’s license test is just the beginning for young drivers. The next step is finding a car that ticks all the boxes: safe, reliable, and affordable, while still appealing to the preferences of both parents and teenagers. In this comprehensive guide, we will explore the factors to consider when choosing a car for…

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How Long Do Tickets Stay on Driving Records?

Receiving a traffic violation ticket can have various consequences, including affecting your driving record and insurance premiums. The duration of how long tickets stay on driving records, the impact on insurance rates, and potential license suspensions can vary by state and the severity of the violation. Below these aspects are discussed and offered insights into how…

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Do You Buy the Car or Insurance First?

Obtaining car insurance before concluding the purchase not only shields you from potential risks but also guarantees timely protection for your new vehicle. The moment you take ownership of the car, it becomes your responsibility. Remember if an incident occurs to the vehicle after acquisition but before obtaining insurance, there is no way to retroactively…

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How Do I Find the Right Auto Insurance Company?

When seeking the right car insurance company, opting for the most affordable option may appear tempting, but it’s vital to take into account several critical factors, including their claim payment track record. While insurers may seem similar at first glance, they vary in operational strengths, financial stability, customer ratings, claim handling satisfaction, size, service levels,…

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Is Automobile Insurance Paid in Advance?

Vehicle insurance premiums are typically due before a policy begins, but nearly all insurers offer the flexibility for policyholders to spread the costs. In such cases, insurers ensure they receive the premium in advance for the period of coverage until the subsequent agreed-upon payment date. Typically, companies may slightly increase the first installment to account…

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Auto Insurance Discounts for Anti-theft Devices

Anti-theft devices serve to discourage thieves and assist in the recovery of stolen vehicles, which is why numerous vehicle insurers provide discounts for eligible devices. These devices can be installed either during the manufacturing process or at a later time. Let’s explore the various aspects of car insurance discounts for anti-theft devices, including the types…

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Do I Need Insurance to Register a Car?

When it comes to registering a car, insurance plays a crucial role in the process. State laws meticulously enforce minimum auto insurance liability coverage requirements, making it increasingly difficult to go undetected without insurance. The advent of online connectivity between states and carriers has made it easier for authorities to verify coverage. Typically, the registration…

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