QuotesCarInsurance

Your Car Insurance Source of Information

Author Archive

Sunday

3

April 2016

0

COMMENTS

All Car Insurance Coverage Types Explained in Detail

Written by , Posted in Types

Types - All Car Insurance Coverage Types Explained in Detail

All Car Insurance Coverage Types: Explained in Detail

Comprehensive coverage

Saturday

2

April 2016

0

COMMENTS

The Basics of Car Insurance: A step by Step Guide

Written by , Posted in Faq

Faq - The Basics of Car Insurance: A step by Step Guide

The Basics of Car Insurance: A step by Step Guide

 Most people buy an automobile as their first major purchase, actually a new car is second only to a home as the most expensive purchase many consumers make. Many would purchase vehicles for over $28,000; it’s easy to see why one would want to protect that investment. Before we talk about coverage for the automobile itself, its important to ask this question, what do many people believe is the most important coverage?

Liability coverage pays the injuries or damages you or someone driving your car cost to other people or their property. There’re two liability coverages; bodily injury liability and property damage liability.  Every state has different laws that dictate the minimum coverage you must carry for this, some states require you to prove you have insurance before registering a motor vehicle. Other states use the honor system where you only have to provide proof that you’ve never had an accident or a violation.

Some local state require minimum coverages of 25 5010, for example, there are four states that do not require drivers to carry any liability coverage. Just because it’s not required by law doesn’t mean you don’t need it. Let’s say you have an accident where you were distracted momentarily and rear ended the BMW in front of you, there’re three people in it and all of them suffer some injury. If your caring liability coverage of 25 5010 that means your insurance company will cover the costs of any one person injuries, rehabilitation expenses, pain and suffering and time. This coverage will pay up to $25,000 but they will not pay more than $50,000 for the accident regardless of the number people injured.

For the bodily injury portion, your insurance company will pay up to $10,000 for the property damaged, so three people are injured, let’s say their injury totals $75,000 and the BMW’s rear end damage of $13,000, your policy will pay for $50,000 dollars for all injuries and 10,000 for the property damage. Where does the remaining 25,000 for bodily injury and 3000 for property damage come from? Once your policy pays and one person lacks coverage, you could be held personally responsible for the remaining amount, it’s generally recommended that you carry more than the state minimum coverage to protect yourself from this financial risk.

The next coverage on the anonymous bill policy is medical payments coverage; this provision protects you and your passengers if you’re hurt in a car accident regardless of who’s at fault. That coverage also extends to you and your family members if you’re a passenger in someone else’s car or if you’re a  pedestrian injured by an automobile. Medical payments coverage pays the medical bills resulting from an accident off to a per person maximum commonly $5000 there are no deductibles and no waiting. Under this coverage, the prescription drugs related to the injuries are covered.

Lets go back to the BMW incident again, let’s say that you and you’re passenger are both injured and taken by ambulance to the hospital. Medical payments coverage of $5000 cover the cost of the ambulance ride, the emergency room visit and subsequent doctors visits up to $5000 per person.  If you’re medical bills total $7000 and your passengers total $3000, the policy will pay $8000 dollars under this coverage. Some states have a medical payments coverage known as personal injury protection or hit this coverage and they have a deductible that may allow you to collect for lost wages and rehabilitation expenses to things that regular medical payments coverage does not cover.

Uninsured and UIM coverage, this coverage is corded similarly to bodily injury liability even though mandatory, insurance laws exist in 48 states nearly 15% of all accidents are caused by uninsured drivers. An insured motorist coverage provides protection for you and your passengers, when you’re injured in an accident with an uninsured motorist it will cover your medical bills, rehabilitation expenses, lost wages, pain and suffering. Things you could have claimed against the at fault party’s insurance,  if they have it UIM coverage will cover those same losses.

In most states, the uninsured UIM coverage applies to injury only and not for damage to your vehicle.Protection for your automobiles are provided under the collision and comprehensive portions of the policy. Collision coverage implies that when you have an accident involving another vehicle or a stationery object such as a telephone pole, a guard rail, a building or when you overturn your vehicle. Comprehensive coverage implies that accidents involving fire, broken glass, hail damage or other losses not caused by collision must have a deductible i.e. the amount you must pay before the insurance company pays the damages.

Common collision deductibles are $500 dollars or one thousand dollars and common and comprehensive deductibles are 100 or 250. If your car is financed then you’re required by the bank that you carry comprehensive and collision coverage until that loan is paid off. It’s important to note that an insurance company will never pay more to fix your vehicle.Emergency Road service and rental car reimbursement coverages are optional but are highly recommend as part of a full coverage package.

Insurance rates are based on many factors including where you live, your age, what you drive, how much you drive, and the courage you carry.One way to keep your insurance costs down is to take a high comprehensive and collision deductible. As the vehicle gets older and is not financed many people choose to drop these two coverages completely as a way to save money and additionally many people choose to pay for small claims out of their own pockets as a way to keep their rates down.

Remember that the covers you carry is just one of the factors contributing to the cost of insurance, there are things you can do to make sure you get the best price possible; the first is to keep your driving record clean. Your driving record is used as a predictor of future experience, accidents and violations stay erected for three years and major violations and suspensions stay on for five years. Many companies now use the scoring model that combines your driving record with a variety of other information including certain elements of your credit history and prior insurance claims to determine your costs for insurance. This means that paying bills on time could affect your insurance rate;a little knowledge can go a long way in providing the best protection you need.

Friday

1

April 2016

0

COMMENTS

Introducing health insurance and welfare: a guide

Written by , Posted in Health

Faq - Car Accident Insurance Coverage

Introducing Health Insurance and Welfare

It is not cheap  or easy to find a doctor to call your own or to obtain treatment for illness or injury. In short, health insurance is vital to the health and welfare of each and everyone of us. Consider this, according to a study by Harvard Mall, nearly half of all Americans file for bankruptcy.  They do so because of medical expenses yet three quarters of the people who filed for bankruptcy actually had health insurance, so, why did they falling into such dire financial straits? They received big bills because of high premiums payments and gaps in coverage. Just having health insurance isn’t enough anymore, choosing the right coverage at the right price is what makes the difference.

Many people however have no idea of how to shop for health insurance; making the wrong decision at the beginning can be expensive. According to the Kaiser family foundation, the average annual cost for a family plan is about the same as the annual salary of someone working full time for minimum wage. Yet, making the wrong decision by trying to save too much money on premium can be even more costly on the back-end. When you’re buying coverage on your own, it’s like you’re walking through a mine field. In order to understand the fine print, you would need a lawyer sitting next to you; to explain to you what everything means.

In short, your health insurance independent agent can provide you with a choice among many different providers and can fully explain to you the various options. Don’t try to handle your insurance needs without a health insurance independent agent that you trust. Insurance needs and laws or complex coverage varies wildly from company to company, laws are vastly different from state to state and your independent agent knows the laws and companies that can provide coverage options. The agent could help you match what you can afford to pay with a prudent insurance plan.

Thursday

31

March 2016

0

COMMENTS

Car insurance for New Drivers and Teenagers: Definitive Guide

Written by , Posted in Tips

Tips - Car insurance for New Drivers and Teenagers: Definitive Guide

A Definitive Guide on Car insurance for New Drivers and Teenagers

Car insurance for new drivers is really difficult because of the fact that most new drivers are teenagers who’ve never really been known for being responsible or levelheaded from an insurance company’s point of view. It’s also really difficult because Motor vehicles are the leading cause of death.

Another reason why new drivers find it so hard to get insurance is that there’s no driving record because they’ve never driven before.There’s no credit history because they’re under 18 and there is no previous insurance coverage so the insurance company cannot look at claims histories.The end result of this is that premiums for new drivers are usually high leading most people to get right to the cheapest option.

If you are looking for insurance for new driver’s you should put them on an existing policy if your parent. This means that, you put your child on your policy. Adding a minor to your policy can be expensive but don’t let that freak you out because it depends on number of factors. Your driving record, if you are a good driver, adding a new driver will be cheaper. Where you live, urban areas are priced higher than rural areas. Gender of the new driver, men are statistically more riskier than women.

As a parent, you may ask, why insurance for new drivers go up so much? the answer is the statistics. New drivers are very good at driving, according to the Insurance Institute for Highway safety, within the first six months, a new driver is eight times more likely to be involved in a fatal crash than an average driver. Also, within the first year a new driver is three times more likely to be involved in a fatal crash.

According to the National Highway Transportation and Safety Administration, a new driver whose had an accident is still 50% more likely to have another, so from an insurance perspective this gets really expensive. The costs come down over time once you get out of the first year. Most insurers have a surcharge that they charge the people who have been licensed from a  senior school. Once you get through the first year, the insurance costs should be cheaper.

How to Lower the Costs

The first and arguably the largest part of it is the type of car, think a new Ferrari versus a Volvo station wagon. Just because the car is cheap does not mean it’s cheap to insure, this is because insurance companies consider a lot of factors. You can have two cars that may cost the same but they might have different repair costs, maintenance costs or safety records. The easiest things to do is to either ask your insurance agent but that’s quite cumbersome. The good thing is,  you can use other options to get a better idea of how to get a good score card.

The options for lowering the costs are; number one,  be a good student, most insurance companies offer a discount to full-time students, and if you’re a good student the discount can be as much as 5 to 10% which can add to several hundred dollars a year.

Having an accident makes it very expensive especially for new drivers because it affects the rest of their driving career. A few or even just one ticket could increase your premiums by 60% and it’ll take three years for the premium to drop off your record so drive safe.

Finally, getting your child into a quality driving school enhances their driving reputation with the insurance company. Most people are familiar with driver’s ed where they have driving courses catered specifically towards teenager.  Teen Smart is another highly successful driving school in California that can enhance your reputation with an insurance company to get cheap car insurance up to 10% for a new driver. Drive safely and take driving courses since that’s about the best you can do in the meantime but as you start reaching your mid 20s, you’ll no longer be penalized for being a new licensed driver.

Wednesday

30

March 2016

0

COMMENTS

Comprehensive Insurance Coverage Explained: Benefits and Costs

Written by , Posted in Types

Types - Comprehensive insurance coverage explained: Benefits and Costs

Comprehensive Insurance Coverage Explained: Benefits and Costs

A comprehensive cover is one of the best levels of protection you can get for your Vehicle. Fire, theft, third party and third party only cover the damage you have caused to others when the accident is deemed your fault. Any damage that occurs to your car is your own problem. A comprehensive cover takes care of the damage to your car as well.

Benefits

With a comprehensive car insurance, you can make a claim from your insurance company for accidents that you have causedThis also applies when the fault cannot be proven, for example if you find that your car has been hit and the person responsible has driven off. A comprehensive cover takes care of repairs and  if your car is written off , you get a brand new car.

Costs

When choosing a comprehensive cover, it is advisable to compare costs with other policies. You may find that a comprehensive cover works out as a cheaper option.

Tuesday

29

March 2016

0

COMMENTS

Understanding Insurance Companies and the Roles of Agents

Written by , Posted in Faq

Types - Comprehensive insurance coverage explained: Benefits and Costs

Insurance Companies and the Roles of Agents

An insurance company helps an individual in the event of a loss. It is good to ask your local independent agent to help you decide which  option is right for you whether you are purchasing insurance for a new car purchase or to protect your investment.

Not many people can  afford to pay for a big accident out of their own pocket but, how much insurance do you need, the costs involved and whether you can access the premium services? Understanding your insurance policies is easier said than done, that’s where an independent agent comes in. An independent agent is  there to answer your questions and help you understand the coverages and limits you need to protect you and your family and to make the right decisions.

Monday

28

March 2016

0

COMMENTS

The purpose of an insurance policy and coverage explained

Written by , Posted in Faq

how-to-choose-car-insurance

The purpose of an Insurance Policy and Coverage Explained

First, we need to understand the purpose of an insurance policy; an insurance policy is an agreement between you and the insurance company. You agreed to pay a premium for this coverage and protection is provided by the policy and in exchange, the insurance company agrees to pay referral losses covered by the policies such as fire damage.

Insurance policies are not meant to cover all expenses, that’s why insurance policies include a deductible; the deductible is the amount you have to cover out of your own pocket when a loss occurs.

If you’re like most people you probably have enough money saved up to replace or rebuild large assets after an unforeseen occurrence like losing your home or business and everything inside to a tornado or fire. On the other hand, you could probably afford to pay for a few hundred dollars out of pocket to repair minor damages.

By avoiding the smaller losses, your insurance company can offer you coverage at a lower rate and still protect you from larger and financially devastating losses. Deductibles apply separately to each claim.

Another important thing to know is that the amount of your deductible has an impact on the premium. For instance, the higher the deductible, the lower the premium.

Sunday

27

March 2016

0

COMMENTS

Prices for car insurance. How to get the best car insurance quote

Written by , Posted in Tips

Tips - Prices for car insurance. How to get the best car insurance quote

Prices for car insurance. How to get the best car insurance quote

Prices differ from company to company, so it pays to shop around, and get at least three price quotes. You can call companies directly or research the information online. Your state insurance department may also provide comparisons of prices charged by major insurers.

While shopping, get quotes from different types of insurance companies. Some sell through their own agents; some sell through independent agents who offer policies from several insurance companies. And a growing number of insurers sell directly to consumers over the phone or via the Internet.

Lastly, don’t shop by price alone. Ask friends and relatives for their recommendations. Contact your state insurance department to find out whether they provide information on consumer complaints by company. Work with an insurance professional who takes time to answer your questions.

Before you buy a new or used vehicle, check what it will cost to insure. Auto insurance premiums are based in part on the car’s price, the cost to repair it, its overall safety record and the likelihood of theft. Many insurers offer discounts for features that reduce the risk of injuries or theft. You can research safety rankings for specific models with the Insurance Institute for Highway Safety.

Some companies offer reductions to drivers who get insurance through a group plan from their employers, through professional, business and alumni groups or from other associations. Companies offer discounts to policyholders who: have not had any accidents or moving violations within a specified period. Drive fewer miles per year than the average motorist and to those who have taken a defensive driving course.

If there is a young driver on your policy who is a good student, has taken a drivers education course or is away at college without a car, you may also qualify for a lower rate. But one important thing to keep in mind is that the key to savings is not necessarily getting discounts, but the final price. A company that offers few discounts may still have a lower overall price.

  • M&S Bank will cut up to 20 per cent off their loyalty cardholders’ car insurance premiums plus it promises 1,000 M&S points to cardholders taking out a new policy. Its also offers up to 90 days cover while driving abroad and uninsured driver protection.
  • Churchill offers a 24-hour emergency and legal advice line, an uninsured drivers promise and a five year servicing deal. Experienced and safe drivers could also get an 80 per cent discount for a cover of eight years or more.
  • Tempcover insurance could be a good option if you are after cover for a short period of time and Marmalade have a decent offering exclusively structured for young drivers.
  • Sainsbury’s offers new customers with a Nectar loyalty card up to 30 per cent discount on their insurance plus they get double points when swiping their loyalty cards on shopping and fuel with the supermarket for up to 2 years. The supermarket giant is also gives free breakdown cover for the first year on its Sainsbury’s Car Insurance or Sainsbury’s Premier Cover Car Insurance until 28th September 2015.
  • John Lewis offers a 15 per cent discount when you apply for motor insurance online. Its policies come with a no claims discount of up to 75 per cent.
  • The AA offers free breakdown cover for the first year with any new car insurance policy.

Saturday

26

March 2016

0

COMMENTS

Car Insurance Coverage Types and the Ones you Need

Written by , Posted in Types

Types - Car insurance coverage types and which one you need

Car Insurance Coverage Types and the Ones you Need

When people use the term “full coverage”, they often mean a combination of various types of coverage.

Don’t worry there’s plenty of auto insurance options that exist to help protect you and we are going to cover them right here.

Accident liability coverage is designed to cover injuries and damages in the event you cause an accident or damage to property. Liability is usually billed from two components; body injury and property damage. Body injury liability coverage helps protect you if you are responsible for an accident that hurts another person. Body injury liability can help you pay for the other person’s medical bills, compensation for loss of income, and emergency aid in an accident scene as well as your legal bills if that person sues you.

Two limits exist within bodily injury coverage per person and per accident, for example, within a policy you might see a $50,000 maximum payment per person and a $100,000 maximum payment per accident. Then there is property damage and liability coverage for damages caused to someone else’s property but not your own. If you hit someone else’s car for instance or 182 their house or storefront, property damage liability coverage can help pay for structural damages, repair or replacement costs.  If the covered accident results in a lawsuit on your policy, there are accident and property damage limits. It’s a good idea to make sure you carry enough liability coverage to protect yourself.

What about your car if you’ve caused an accident? Collision coverage can help pay for your vehicle’s damage.

If your car is stolen or something falls on it, that’s where comprehensive coverage comes in.

What about when an insured driver rear ends your car? Uninsured Motorist Insurance or UIM coverage will help in that scenario.

Medical payments coverage or personal injury protection helps to pay for medical bills and other costs if someone gets hurt.

Worried about your new car getting totaled right after you buy it?  You’ll want to check out new car replacement coverage.

When your car is in the shop for repairs after you get into an accident, that’s when the rental car reimbursement coverage would be helpful.

If you’re looking to be fully protected, there’re even more optional coverages to choose from.

So to recap there’re several kinds of auto insurance coverage you can select including liability coverage, collision coverage, comprehensive coverage,  uninsured and UIM coverage, medical payments coverage,  personal injury protection,  new car replacement coverage, and rental car reimbursement.

Friday

25

March 2016

0

COMMENTS

Personal umbrella policy: Learn about Umbrella Insurance Policy

Written by , Posted in Types

rental car insurance

Personal Umbrella Policy

Do you own a dog? Drive a car? or bring guests into your home? If so, you have the potential to be a target of a lawsuit putting you at risk of losing everything you’ve worked for over the years. This includes your home, your savings and even your future income.

Unfortunately we live in a society where lawsuits are becoming common. People are caught off-guard and are unprepared for the consequences and verdicts; the settlements are often in the millions but the good news is, there’s a way to protect yourself, it’s called personal umbrella policy. Your insurance will pay the first $300,000 but what about the remaining $700,000 dollars? How are you ever going to pay for that? 

The Umbrella Policy ensures that you cover yourself when your regular insurance is not enough. An umbrella policy protects you from a devastating lawsuit. Contact your insurance company today to learn more about the protection provided by a personal umbrella policy.