Auto Insurance Policy
Auto Insurance Policy Information
Auto Insurance Policy
Jul 4th
An auto insurance policy has a lot of legal words that most of us do not begin to understand. The essential parts of the auto policy are found in the declarations page that you receive when your policy renews. Auto insurers are always competing for each others policyholders and by comparing quotes you can get great rates. Every auto insurance company uses underwriters and actuaries to help determine your rate.
Rating Territory – Your neighbors and acquaintances in your region help determine the rates in your area. These areas are called rating territories by the insurance companies. If there are high losses and incidence in your area then your rates are going to be higher. If low the opposite is also true.
Liability Auto Insurance – Liability protects you when you are liable in an automobile accident. Auto liability insurance is valuable protection and insures you against the highest risk and financial loss. Liability claims are by far the largest for death. Do not under-size your auto insurance policy in this area.
Collision Auto Insurance – This portion of the auto insurance policy pertains to your coverage of damage to your automobile in an collision. Purchase this coverage with high deductibles to keep your rates low. Lower deductibles do not More >
Bad Economy – More People Without an Auto Insurance Policy – Almost 16% Nationwide
Sep 21st
More and more people are driving without insurance.
New studies are showing that more and more people are unable to pay their auto insurance and are driving without insurance. The national average is almost 14%, that is 1 in every 7 drivers. Last year in just Ohio alone there were over 1 million people with their license suspended for driving without insurance.
A little off the subject here… but we have to start buying US goods, if you can find any. If we do not get more manufacturing back here, I do not see a way out.
When some drivers do not carry insurance, your insurance will have to cover the expense of an accident… another expense for you “uninsured motorist” and you are still responsible for the deductible.
It is imperative that you have auto insurance or YOU COULD LOSE YOUR DRIVERS LICENSE. People are taking lesser jobs and driving their automobiles’ back and forth to work without insurance. This is a no end situation. They take lesser jobs or have no job, lose their insurance, get a ticket costing them more money and then lose their license. This is a terrible situation. In today’s economy we must take advantage of every discount and get More >
Flood Insurance on Your Auto Insurance Policy?
Aug 30th
With the horrible aftermath of hurricane Irene and seeing all the cars flooded, I decided to write this.
Do you have flood insurance on your Auto Insurance policyMost people do not know if they have flood insurance until a catastrophe happens.
When getting an insurance quote make sure you know what your policy covers!
You spend a lot of money on insurance and need to know exactly what your auto insurance policy covers in the event of a natural disaster.
If you have comprehensive insurance on your policy you should be covered.Although comprehensive insurance is not required, if you have a car loan it is usually required by the loan company until it is paid off. So… If you have a loan on your car, you will more than likely have comprehensive insurance. The deductibles on comprehensive insurance is usually $100-$300.
You may also not know this and may have to ask your insurance company when filing your claim. Rental car replacement may be on your policy. Rental replacement is so inexpensive, it is often on your policy without your knowledge. This coverage will put you in a car until your flooded vehicle is repaired or the insurance company pays for a new vehicle.
Also find out More >Complete List Of Auto Insurance Policy Discounts
Jul 22nd
Complete List of Auto Insurance Policy Discounts
As I have discussed previously, in these times many of us need to cut corners wherever we can. As the cost of insurance is already much more than most of us can afford we have compiled a list of discounts that are available to you through most auto insurance companies.
Auto Insurance Policy Discounts
How you drive, where you drive and how much you drive can give you great discounts.
If you live in a rural area your auto insurance policy rates will generally be lower than in a city. The fewer people on the road, the less risk there is of an accident.
Safe Driver Discounts: This is normally the best discount you will get on your auto insurance policy. If you have not had an accident or ticket in several years you should receive the safe drive discount.
Garage Discounts: If you park in a garage instead of on the street or in a parking lot, you should qualify for a discount. Garage parking protects your car from damage and theft. This will lower your comprehensive insurance policy rate.
Low Mileage Discount: If you don’t drive often usually under 12,000 mile a year you should be able to More >
Auto Insurance Policy Rates
Jul 21st
Auto Insurance Policy Rates
As Auto insurance policy rates continue to go up along with everything else, some of us are finding all insurance hard to afford. If you do not do understand your auto policy and discounts available to you, you may be paying more than you should. Always remember to get a quote from many companies. Doing this online is easy and free. Get a quote now form multiple auto insurance companies and save $100 on your Auto Insurance policy rates.
Auto insurancance policies vary by company. You need to understand the coverage that is offered to you by each and not just the price. Please read our post on the types of auto insurance policy coverage.
Please first make sure you are familiar with the coverage that you will need. By comparing quotes online this will give you the time you need to look over each policy and price. Here you can get the knowledge to make sure you get the coverage you need at the lowest price possible. As we know cheaper is not always better, but then again I always say we do what we have to sometimes in these times.
After you decide what type of insurance you need then go ahead More >
Understand Your Auto Insurance Policy Coverage
Jul 16th
Understand your auto insurance policy coverage.
When it comes to understanding our insurance policies a lot of us of us are left in the dark, your auto insurance policy is no exception, but we absolutely have to have it to drive on the roads. With so many types of coverage in your auto insurance policy you need to understand each one so you can make an informed decision when purchasing your insurance.
Policies can be divided into six areas collision, comprehensive, medical, bodily injury liability, property damage and uninsured motorist, some of these are mandatory and you have to purchase, the others you will have to decide if you need. Each type is explained below in laymen’s terms to help you decide which types of auto insurance policy coverage you need.
First you need to decide if you need collision insurance. This part of your coverage will pay for repairs to your automobile if you are in an accident. If you carry collision on your auto insurance policy your insurance will cover the cost of repairs to you automobile, BUT as with most areas of insurance you need to understand any exclusions when you take out your policy. Read all exclusions. Collision More >
Discounts On Your Auto Insurance Policy
Jul 14th
Tips For Getting Discounts On Your Auto Insurance Policy
Getting auto insurance policy quotes from numerous insurance companies competing for your business is one of the smartest things you can do to save a lot of money.
Most insurance companies offer discounts to online customers, as there are so many competing for each policy. Comparing different company’s quotes online is the best way to get a really great rate.
You should be prepared when you are getting auto insurance policy quotes. YOU should know your driving record. Occasionally driver records are recorded inaccurately. This could mean a much higher quote… of course if to your benefit I certainly wouldn’t argue! You can check your record at your states DMV online. Check your driving record before requesting a quote to make sure nothing is on your record that shouldn’t be. You could be denied or charged a much higher premium than you should.
You should know how much insurance you will need. Liability and medical covereage are usually required. The minimal amount can vary from state to state. Again you can check this at your states DMV online. It is usually best to have high liability and medical coverage to make sure you are More >