Buy auto insurance for your teenager – Save every dollar possible

Although the parents try their best to keep their child away from driving, there comes a time in your child’s life when he clears the Department of Motor Vehicle’s driving test. Thus, he obtains a driver’s license. Immediately after the teenager gets hold of driving license, the parents buy an auto for their child or allow them to drive the family auto. Thus, the need to purchase auto insurance arises so that the new teenage driver can remain protected from the accidents that may occur suddenly. There are certain things that parents as well as the teenagers can do to save dollars on teen auto insurance. Read on to know about some such things.

 

  • Take up a safe driver course – Your teenager should take up a safe driver course. It is called Points and Insurance Saving Program (PISP) in some states while in the other states it is known as Drivers Safety Course. The teenager may take up a state and insurance company approved safety course since this will help him save dollars on teen auto insurance rates.
  • Maintain a good driving record – Once your teen obtains a driver’s license, he should make it a point to maintain a good driving record. For this, your teenager will have to drive his car safely and avoid making any accident while being on the road. The insurance companies penalize the new teen drivers that rack up driving violations. As such, the parents must make their teenager understand the importance of maintaining a violation-free driving record.

 

  • Buy a safe auto – A safe auto goes beyond the ones that have anti-lock brakes and vehicle traction control. It also means one that does not have any risk for auto turn over, theft or destruction. The parents should buy a low priced and safe auto for their teenager since the high price you pay for your auto, the more costly will be your auto insurance policy. As such, it is best that you do not add the risk factor by buying an auto that is at high risk for theft or other loss.

 

  • Talk with your insurance agent – While buying teen auto insurance, you can apply for it online. However, you should make it a point to talk with your insurance agent either in person or over the phone if you want to save money on auto insurance rates. The agents keep track of the discounts that the insurance companies offer once in a while. By speaking with an agent, you’ll get to know more about underwriting process and money saving discounts on auto insurance.

 

  • Shop around thoroughly before buying one – With several insurance companies in the market, it is not very easy to find an authentic insurance company. As such, you will have to shop around carefully in order to purchase teen auto insurance. Do not forget to compare between different insurance policies before you may decide to buy one. Try to obtain at least two or more insurance quotes before selecting an auto insurance policy. Thus, you’ll be able to buy the right teen auto insurance and, in turn, save your hard-earned dollars as much as possible.

 

It is of utmost importance that your teenage drives his vehicle safely on the road. These are some of the ways how you will be able to save money on your teen auto insurance.

 

Posted by John Lloyd Crucillo - February 28, 2013 at 2:03 pm

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We Are More Interested in Various Types of Insurance Because of Our Kids

... real time quotes from 40 Life Insurance firms within OntarioAfter my husband and I had kids, we decided that it was time to try to live a more responsible life. What I mean by this is that we would make sure that we had various types of insurance. Before the kids came, we did not have insurance of any type, except the car insurance which is required by law. Now that we have Little ones to take care of, we feel like it is very important to have life insurance.

Fortunately, you can use the Internet to get a life insurance quote. Since both my husband and I are young and in good health, I have been able to find very affordable life insurance packages. I am going to keep looking to see if I can find anything better than the price that I have been offered so far. Read more…

Posted by author - January 11, 2013 at 9:30 pm

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Car Insurance Quotes for a New Car

I just bought a new car off of the dealer’s lot yesterday, and I need to get car insurance on it as soon as possible. I am going to start driving it to work every day starting next week, and I need to have the car insurance for it done by that point in time, to be sure. Anyway, I am looking online right now to see if I might be able to find some car insurance quotes for my new car. I want to make sure that I am able to get a good deal on my car insurance, and that is why I am looking around on a few different sites in order to try and compare the quotes that I get from different companies.

I am hoping that the car insurance will not run me too much money; however, I am not really sure what to expect, on account of the fact that I have never bought a brand new car before, or had to pay for car insurance on one. Every car I have had in the past has been a used car. Read more…

Posted by author - January 5, 2013 at 5:30 pm

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Car Insurance: Types of Coverage

Everyone who drives needs car insurance and most states require it by law. When you buy car insurance, you are buying what is called a policy. Auto insurance policies are actually a package of different types of insurance coverage.

To understand your car insurance policy, you need to learn the various types of coverage insurance companies offer. Some of this coverage may be required by your state and some of the coverage may be optional.

The coverage that pays for accidental bodily injury and property damages to others is called liability. Injury damages include medical expenses, pain and suffering and lost wages. Property damage includes damaged property and automobiles. This coverage also pays defense and court costs. State laws determine how much liability coverage you must purchase, but you can always get more coverage than your state requires.

Collision coverage  is designed to pay for the repair or replacement of the policy owner’s car in the event of an accident, no matter who caused the accident. Collision coverage usually requires the payment of a deductible when a claim is made and may be required to secure a new car loan.

Comprehensive Coverage is important protecting you form things that can damage your car but aren’t accident related. The types of damages comprehensive insurance covers include loss caused by:

  • Storms and natural disasters like tornadoes, hurricanes, and earthquakes
  • Vandalism and theft
  • Broken/shattered windows and windshield
  • Animal damage
  • Falling objects

Auto insurance medical payment coverage,  is also called personal injury protection or PIP. This means  that your insurer will cover medical costs including hospital costs and continuing care associated with a motor vehicle related accident. The policy covers medical bills or funeral expenses. The percent of expenses you can expect to be paid on claims and the limits of your coverage depends on the policy you hold.

Medical insurance coverage is not automatically included in a traditional care insurance policy. Required liability coverage will pay medical costs for a victim of an accident if you injure someone else. However, if you injure yourself in an accident that you cause, you are generally on your own as far as medical bills and payments. Even comprehensive or collision insurance will not pay your medical bills. By purchasing auto insurance medical payment coverage, you shift the risk of your medical costs to your insurer.

Uninsured or underinsured motorist coverage can pay for injuries to you and your passengers, and in some locations damage to your property, when there is an accident and the other driver is both legally responsible for the accident and considered “uninsured” or “underinsured.”

Rental Reimbursement coverage pays the cost of the rental car if your own car is stolen or becomes disabled due to a covered cause of loss. This coverage thus reimburses you for transportation expenses up to the specified limits fixed in your policy. In accordance with your Rental Reimbursement policy limits the insurance company will cover either part or the entire rental bill.

Related Resources:

What is Disability Insurance
www.trcalliance.com

Posted by John Lloyd Crucillo - August 4, 2012 at 3:16 am

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Choosing the Right Insurance Company

An automobile is a major investment for many of us. In the unlikely case of an accident or some event due to which the car gets damaged, we stand to lose the money we have invested in the same. There are numerous auto insurance companies in the market which provide insurance for your vehicle. When it comes to choosing the right auto insurance company, you need to pay attention to some important points which will help you decide which company is suitable for your particular needs.

How do you make sure that the company you sign on with is going to be reliable? When we say “reliable,” we’re talking about how the insurer treats you, the customer. Most importantly, how will the company deal with you when you file a claim?

 

1) Visit your state’s department of insurance Web site. Although you may not be familiar with it, your state, and every state, has a department of insurance. Most departments have Web sites, and many publish “consumer complaint ratios” for all of the insurance companies that sell policies in their state. This ratio tells you how many complaints a car insurance company received per 1,000 claims filed.

 

2) Find out which insurers body shops recommend. One of the best ways to identify reliable insurers, is to contact local body shops that you trust and ask for their recommendations. Body shop managers have a unique perspective to offer, since they regularly interact with insurance adjusters. They know which companies have the smoothest claim processes, which affects how quickly the work can be completed on a damaged vehicle. And they know which companies are pushing aftermarket parts, in lieu of genuine original equipment manufacturer (OEM) parts, to cut costs.

 

3) Check the J.D. Power Ratings. J.D. Power and Associates collects data from individual policyholders nationwide and rates them according to coverage options, price, claims handling, satisfaction with company representatives and the overall experience. A quick visit to the J.D. Power Consumer Center will give you a feel for how the major carriers stack up. J.D. Power also publishes an annual survey of major auto insurers.

 

4) Consider insurers’ financial strength ratings. You can check and take a look at the A.M. Best and Standard & Poor’s ratings. Both companies publish financial strength ratings for all insurance companies — these “measure” an insurance company’s ability to pay out a claim (they have nothing to do with the way a company treats its customers).

 

For the general consumer, looking up these ratings is only a formality, since most of the well-known carriers are going to be a safe bet. Moreover, independent agents would be unlikely to recommend a company with dubious financial standing. Still, if you’re considering a smaller, unfamiliar insurance carrier, you might consider this research time well spent. Insurance companies often provide this information on their Web sites, but if not, you can run a search at the A.M. Best and Standard & Poor’s sites.

 

5) Consider working with an agent. It used to be that everyone purchased auto insurance from an agent, but now, some car insurance companies allow you to purchase insurance directly — over the phone from a customer service representative or online. Still, many of the major players have preserved their national networks of local agents.

Posted by John Lloyd Crucillo - August 4, 2012 at 3:07 am

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Car Insurance Deductibles

How much are you willing to pay for your insurance coverage? This is the most important question that you have to ask yourself before purchasing auto insurance. It is not simply about the value of your car or how often you get into accidents but also how much is your insurance coverage.

 

All auto insurance policies have a deductible. What is a deductible? A deductible is the amount an insured person must pay before the insurance company pays the remainder of each covered loss, up to the policy limits The deductible is the part of your policy and you are responsible for paying. Auto insurance policies don’t simply take care of all necessary expenses. You are required to pay for some of the damages, but the amount depends on your policy.

 

In each state the deductible vary, but are most often in amounts of $100, $250, $500 or $1,000. For example, if you are in an accident that causes $2,500 worth of damage and your deductible is $500, you are required to pay the $500 and the insurance company will take care of the remaining $2,000.

 

So choosing a deductible is important when deciding what insurance policy you want to purchase. After all, you will have to pay the deductible for each and every situation in which you require your insurance company to cover damages. You have to decide how much you are willing to pay and how often you think you will need to make an insurance claim. In addition, the premium you pay, or the price of your total coverage annually, can be lowered by choosing a higher deductible. In other words, if you are willing to pay higher out-of-pocket costs, you can lower the total cost of your insurance.

 

Purchasing an auto insurance policy doesn’t have to be confusing. You want a policy to take care of your expenses in the event of accident, theft, vandalism or most any other instance in which there is damage to your own or someone else’s vehicle. By knowing what your state requires, what your needs are, what discounts you qualify for and how much coverage you want for your car, you will be able to choose the right policy.

 

Here are other terms that you need to understand before purchasing your car insurance:

 

  1. Multi-Car discount – A discount offered by some insurance companies for those with more than one vehicle insured on the same policy.
  2.  Personal Auto Policy – The most common auto insurance policy sold today. Often referred to as “PAP,” this policy is written in simple wording and provides coverage for liability, medical payments, uninsured/underinsured motorist coverage, and physical damage protection.
  3.  Split Limit – Any insurance coverage with separately stated limits for different types of coverage.
  4.  Term – The length of time for which a policy is in effect.
  5. Usage – This refers to the primary function or purpose of your vehicle. For example, if you primarily drive your car to and from work, the usage is considered “commute.”

Posted by John Lloyd Crucillo - August 4, 2012 at 3:03 am

Categories: Automobile, Community, Finance, News   Tags: , ,

Cost of Car Insurance

All car owners are required by law to purchase insurance coverage for themselves.  Insurance companies offer different coverage and  with different prices.

 

There are several factors that affect the price of auto insurance. Compare prices thoroughly before purchasing any insurance for your car.

 

  • Kind of Car – The first thing that affects your policy’s price is, of course, what kind of car you drive. For instance, a sports car costs more to insure than a family sedan. If you purchase a vehicle that has a high theft rate, your coverage will probably be more expensive. Essentially, though, your coverage will be based on the value of your car.

 

  • Place of Residence – Another factor that affects auto insurance costs is where you live. If you live in an area where there is a high occurrence of accidents or vandalism, insurance will cost more money. For instance, since more cars are damaged in urban areas than in rural areas, you will probably pay more for insurance if you live in a city.

 

 

  • Car Use – How often you drive will also affect your insurance costs. The more you drive, the higher the chances you will be an accident. Drivers who have long-distance commutes will pay more than people who live near their workplace. Meanwhile, if you only use your car on weekends, your insurance rates should be lower than someone who commutes to work daily.

 

  • Personal Background – The final factors that affect the price of auto insurance have to do with who you are. Your age, sex, marital status and driving record are all taken into account when you buy an insurance policy. Accident rates are higher for drivers under the age of 25, so if you are young, expect to pay a little more. Also, accident rates are higher for young males and single males. It doesn’t seem fair, but if you are an unmarried 19-year-old male, your insurance rates will definitely be affected. If your driving record is impeccable, though, your rates will be lower. Obviously, drivers who are prone to traffic violations or accidents will have to pay more for insurance than safe drivers.

 

 

If these cost factors are beginning to scare you, don’t worry. There are several ways to keep your insurance rates down.

 

You should consider buying a car that “looks good” to insurance companies. For instance, insurance companies know what kinds of cars are prone to problems. They also know what kinds of cars are most often stolen. If you haven’t purchased your car yet, find out what cars make this “good list” among auto insurers.

 

Ask insurance companies about specific discounts that may be available for you. Most insurance companies offer discounts for a variety of reasons – for example, good students, having more than one car insured and accident-free driving are all worth a discount.

 

Consider carpooling or using public transportation to get to work. The less you use your car, the less your insurance will cost you.

 

Finally, drive carefully! Insurance companies are not happy to insure accident-prone drivers, so the safer you drive, the less you will have to pay for auto insurance.

 

Happy driving!

Posted by John Lloyd Crucillo - August 4, 2012 at 2:49 am

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