Posts Tagged ‘n’
Friday, July 3rd, 2009
by Amy Nutt
Owning a car is something that everyone dreams of when they first learn of what one is, and it is important for a person to know as much as they can about them, as it is only a matter of time before they are behind the wheel themselves. This is not to say that we will all be mechanics someday, but basic knowledge is something that should be a requirement when owning a motor vehicle, even more so when it comes to adequate car insurance. There are many different things to be aware of in the world of auto insurance, especially when it comes to calculating comprehensive insurance policies.
What is Comprehensive Insurance? Comprehensive car insurance coverage basically covers your car and others (in certain situations) from damages incurred to you vehicle or theirs. This is not applicable to any accidents, but for instance, a potential policy holder would be protected in the event of car damage due to a flood or theft. This is important because it is best to be covered in every possible angle, whether or not these things are rare, it is still important to be prepared in the event that they do happen.
The Variables There are a many different factors when it comes to calculating comprehensive coverage in a car insurance policy. The most common variables would be the age of the policy holder, the driving history, the distance that one usually travels by car, as well as the age and model of the vehicle. Obviously, the older or the better driver can expect to have some things in their favor, as there is the direct correlation of that and money. These things are taken into account in the production of a comprehensive coverage policy, which basically sets the rates the person can expect to pay.
The Actuary There is also the probability of loss to think of, something that is important to insurance companies in comprehensive car insurance policies and others alike. This person, the actuary, is one that determines how likely that something detrimental to the vehicle will happen. This is done by factoring in all of the variables, which affects the premium that the driver will have to pay in the event of loss. Although there are other factors that the actuary determines, these are the most essential variables that they consider when preparing the policy.
The importance of car insurance is something that just about everyone will have to deal with in their lives, and there is extreme importance in one being as well-versed in the way that these policies work as they possibly can. If not, they can expect to pay more than what they are expecting to, and since they can be quite expensive at times, this is something that not many people can afford. When choosing the right insurance, it is always best to compare rates with as many different insurance companies as a person can, as they will generally differ greatly on a company by company basis.
Tags: a, auto, auto insurance, automobile;truck, business, c, car, car insurance, e, f, family, finance, h, home, I, insurance, l, legal, life, n, o, p, params, personal, r, roadside assistance, s, society, v, variables
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Monday, June 29th, 2009
by Susan Reynolds
Trying to find the right car insurance can be a major headache. There are a lot of companies that wants to take advantage of you. In today’s economy people are always looking for great deals. Use these guidelines to your advantage to avoid being a victim of car insurance scams.
You must understand what the car insurance dealer is trying to convey you exactly. The first thing that they will usually claim is that they are the best and very low-priced in relation to the existing economic conditions. Next they will claim that they will offer free car rental after an accident occurs. They will also tell you that they can offer free roadside assistance if your car breaks down but in the fine print there will be limitations. So what a great deal? The points mentioned below will make things clear.
Most of the time they don’t discuss the fine prints. Most of the false claims are listed here and they do not want them to be brought into the conversation. There is a lot of scamming going on in today’s world and you need to be careful. If your payment is real low but the coverage is really high there could be something hidden. This happens to be the most common way of enticing the customers. So talk to your friends and your family and see what kind of coverage they have. For example, what is the bodily coverage, what is the coverage for under insured motorists and most importantly what the deductible is. These are all things you need to know before you buy the insurance to avoid scams.
How do you avoid the pitfalls or become the next victim? You should begin by shopping around. Approach as many companies as you can, and try to get their quotes. Running a business through the Better Business Bureau will give you valuable information. If there are any negative comments about processing claims you should consider your options.
Now that you have read this entire, are you sure you want to go with the lower scored company? The difference in coverage between a reliable company and a non-reliable company can mean a lot. If you do find a company that is unreliable it would be a good idea to report them. Don’t let someone else also get scammed. Let them know what you have discovered. Most of these companies are fly-by nights and will leave just as quickly as they appeared.
A timely research with an open mind and alertness will go a long way. You will not be getting into trouble with the car insurance agents. The bottom line is that you should opt for car insurance agencies that have established names.
Tags: a, auto insurance, automobile;truck, automobiles, c, car insurance, cars, e, f, finance, I, insurance, n, p, personal finance, u, v, vehicle insurance
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Monday, June 29th, 2009
by Tom Martens
One of the big days in a teenager’s life is the day they get their driver’s license. But with that passport to adulthood comes tremendous responsibilities. Every newly licensed driver?in fact, anyone seeking to become a licensed driver?must arrange for adequate auto insurance coverage.
But car insurance for teen drivers can be very expensive. Teen drivers are considered high risk drivers due to their inexperience, which means they can expect to pay high rates for their insurance premiums. Don?t let that stop you from earning your driver?s license, though. With careful planning, teen drivers can find ways to save money on car insurance.
The first step in getting the lowest rates is to get several quotes. These quotes should be obtained from authorized insurance agents or company websites. The various insurance companies define teen risk in very different ways. This means one company may charge just a little more than they charge an older driver, while another company may charge you a whole lot more. There is tremendous competition among insurance companies, so companies that know you are doing comparison shopping tend to offer you the lowest rates. They just might offer you a lower premium. But to get it, you have to ask, and you may have to willing to negotiate. Fortunately, it’s easy to do research on the net and shopping for low premiums is a lot easier than it used to be.
Also, if you have not already done so, look into taking basic driver ed or defensive driving. Passing these courses shows insurance companies that you are serious about safe driving, and allows them to lower you risk level when assessing your driving record for computing your insurance premium. Talk to a licensed agent about what courses are available that qualify you for an insurance discount.
Ask your agent if the insurance company offers discounts to student belonging to certain clubs, or if they offer good student discounts. Ask whether they will give you a discount based on your parents’ policies or organizational memberships. This is where a little research on the Internet is very helpful before you see your agent.
If your parents have additional insurance policies, such as home or life, see if they will ask the insurance provider to bundle the policies. Many providers often give big discounts to customers who purchase more than one insurance policy from them. Check to see if the insurance provider offers discounts for multiple drivers from the same household. This is another way to obtain great savings on your car insurance premiums.
If you are a newly licensed teen driver or will earn your driver?s license soon, contact a qualified insurance provider. They can answer whatever questions you may have about car insurance, examine your specific situation closely and make insurance recommendations so that you are properly insured and protected behind the wheel. It will take some time, effort and research, but you could end up saving a lot of money on your insurance premiums, which makes the investment worth it.
Tags: a, auto insurance, automobile;truck, automotive, c, car insurance, e, f, finance, I, insurance, insurance cars, m, money, n, o, p, personal finance, u, v, vehicle insurance, Vehicles
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Friday, June 26th, 2009
by Susan Reynolds
In today?s world, nobody is safe anywhere as we see numerous natural calamities creating unfriendly driving situations. Accidents are common and so are the rates of fatalities. In such circumstances, we cannot emphasize enough the importance of having a car insurance to protect ourselves and the lives of people around us. Besides this, it is important to protect our cars also, as a large part of our income goes towards buying a car we desire.
There are many type of insurance for vehicles; the insurance may a general liability, collision, comprehensive (which covers only natural disasters, fire, theft, and wreckage), medical payments (which cover the people hurt in an accident) and any extra coverage which comes at a premium price. The insurance cover for different types of cars is not the same. Some premium cars pay more insurance because of the higher cost and also because it costs more to repair these cars. It is however, imperative for all cars to be covered by car insurance as it helps to protect the owners and does not generate unnecessary expenses.
It is important to maintain a clean driving record because this greatly affects your insurance. Your insurance covered is reduced if you are charged with reckless driving, driving under the influence of alcohol or driving with out a valid license. All these defaulters are reported to the insurance company immediately and as a result the insurance cover is reduced by a substantial amount. It is important to note that you are responsible not only for your life, but also for the lives of people on the road while you are driving.
Sometimes insurance companies reduce the rate of auto insurance that has to be paid by you, and this works to your advantage. However, in this case the amount of cover does not reduce. The insurance companies come up with many plans on this. Firstly they encourage drivers to enter into an agreement for safe driving. Secondly, they get into an agreement with people for not drinking and driving. You must follow this clause with utmost caution and not break it because there are penalties involved if you break it. Thirdly, you are advised to use security alarms, anti-lock brakes, car pooling methods etc by the car insurance companies.
In the unfortunate incident of an accident taking place, you must get it verified by an insurance company immediately, so that they can assess the exact value of reimbursement payable to you. Any delays may raise questions about the authenticity of the accident. Also, while applying for reimbursement you must have all the records in place such as a certificate provided by the law enforcement agencies to validate that the accident had taken place with the damages that are caused to the car and people driving in it.
Therefore, before buying a car, think about whether you are going to behave like a responsible driver or not. As a car is an item of luxury and makes our life very convenient; it has to be maintained carefully and additionally the law has to be respected. So always keep your insurance up to date to shield your loved ones and most importantly yourself.
Tags: a, auto insurance, automobile;truck, automobiles, c, car insurance, cars, e, f, finance, I, insurance, n, p, personal finance, u, v, vehicle insurance
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Thursday, June 25th, 2009
by Graham McKenzie
Insurance excess is the term which applies to the money that you will have to provide out of your own pocket in the event that you ever need to file a claim before the insurance company will ever provide money. This term applies most regularly to car insurance companies largely due to the number of claims that are filed each year. Many people look for methods to reduce their insurance excess and there are methods which do exist and do work.
The surest method available to reduce your insurance excess is to increase your premium. Insurance companies will often offer lower excess to people if they are willing to pay a higher premium. This method is often not as good as it may seem at first. In most cases the extra money you will pay out in your premium will more than make up for any savings you will get on your excess in only a matter of a few months. In fact, in nearly all cases, unless you will be filing a claim every two to three months it would be better to lower premium and accept a higher excess.
For parents who have student drivers or for students themselves, one great method to reduce your excess and your monthly premiums is to get good grades in school. By receiving consistent good grades in school you are effectively demonstrating to the insurance companies that you are responsible and that you have goals. Insurance companies have found that responsible people in life are far more likely to be responsible while driving. For this reason most insurance companies offer a good grade deduction.
Maintaining a status as a good driver is another great way to reduce your excess and your premium. While most people believe that an accident will not be their fault the truth is that most accidents are caused by both people involved. By practicing constant safe driving habits you can reduce the risk of being involved in an accident by a considerable margin. Over time this will lead to both reduce premiums and a lower excess.
Another thing that you can do to reduce your excess is to ensure that you are giving the insurance company any information which may lead to a reduced premium and excess. Having children, being married, having a long term job and having a good credit history can all prove to the insurance company that you are responsible. This also leads them to view you as a lower risk which can lead to reduced premiums and excess.
The final method which you can use to help reduce your excess is to look around. Every insurance company is different in the rates they charge and the features they offer at those rates. Some offer bigger benefits to people who fall into specific categories while others may not. By taking the time to investigate several carriers you improve your odds of finding a better excess without having a very high premium.
Tags: a, auto insurance, automobile;truck, automotive, c, car insurance, cars, f, finance, I, insurance, m, money, n, o
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Thursday, June 25th, 2009
by Amy Nutt
When consumers shop for a car, they dont usually consider if the type of car they buy will affect their insurance rates. The type of car you buy actually plays a part in whether you pay a high or low premium. If you are looking to acquire a reasonably priced insurance policy with your new car, it is important to know what cars have the best rates.
The nonprofit public service organization, The Highway Loss Data Institute, (HLDI) is a group that assesses vehicles for the insurance industry to find out which cars are a high risk. By high risk, they mean cars that are most likely to be stolen, involved in an accident as the result of a collision, and have a high number of injury claims filed. When assessing the risk of theft, the organization will look at such as aspects as the number of doors a car has as well as the color of the car.
The HLDI has found that “four door cars have a 93% less chance of having a claim related to theft than 2-door cars of the same make and model.” As well, a report by the National Insurance Crime Bureau (NICB) found that “cars that have the least claims filed for theft include the Buick LeSabre, Volvo V70 Station Wagon, and the Mercury Grand Marquis.”
According to HLDI, the lowest injury claims filed are large vehicles such as large cars, pickup trucks, and sport utility vehicles (SUVs). Many car retailers report that the following cars are the least expensive to insure:
- Chrysler PT Cruiser 4dr Wagon - Jeep Liberty Sport 4WD 4dr SUV - Saturn L300 1 4dr Sedan - Volvo S40 4dr Sedan - Saab 38600 Linear 2.3t 4dr SportWagon - Buick Century Special Edition 4dr Sedan - GMC Safari SLE AWD 3dr Minivan - Dodge Caravan SE 4dr Minivan - Saturn ION 1 4dr Sedan - Pontiac Sunfire 2dr Coupe
Vehicles that are among the least expensive for collision claims include:
- GMC Safari 4-wheel drive - GMC Yukon XL 1500 4-wheel drive - Ford Excursion 2-wheel drive - GMC 2500
Vehicle Models with some of the least expensive injury claims include:
- GMC Sierra 2500 2-wheel and 4 wheel drives - Chevrolet Silverado - GMC Yukon XL 1500 4-wheel - Chevy Tahoe 2-wheel
A few of the Top 2009 Safety Pick Cars as published by the Insurance Institute for Highway Safety include:
- Large Cars: Acura RL, Audi A6, Cadillac CTS, Ford Taurus, Hyundai Genesis - 4-door models built after 11/08, Lincoln MKS, Mercury Sable, Toyota Avalon, Volvo S80 - Midsize Cars: Acura TL, Acura TSX, Audi A3, Audi A4, BMW 3 series 4-door models, Ford Fusion 2009-10 models with ESC (optional in 2009, standard in 2010) - Honda Accord 4-door models, Lincoln MKZ 2010 models, Subaru Legacy, Volkswagen CC - Small Cars: Honda Civic 4-door models (except Si) with optional ESC, Mitsubishi Lancer with optional ESC, Scion xB, - Subaru Impreza, Toyota Corolla with optional ESC, Volkswagen Rabbit 4-door models, Volkswagen Jetta, Volkswagen Passat
When determining insurance premiums, car insurance companies will look at a cars make, model, safety record, and rate of theft. Knowing these statistics will help you choose the best car with the best insurance rate.
Tags: a, auot, auto, auto insurance, auto insurance quotes, automobile;truck, c, car insurance, car insurance online, e, f, family, finance, I, insurance, n, v, Vehicles
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Wednesday, June 24th, 2009
by Amy Nutt
When your car breaks down, it is never a fun experience. It has happened to just about everyone at one time or another. No one wants to be in that situation but there are steps you can take to help you get through it, particularly if you are not a member of an auto club. If you have a membership to an auto club then you simply need to call them for roadside assistance. It is said that an ounce of prevention is worth a pound of cure. Therefore, especially if you have to handle a breakdown yourself, it is best to be prepared. Have everything in your car that you may need if you get stranded somewhere. If possible, the first thing you should do is pull safely over to the side of the road.
- Cell phone: You are never going to appreciate having a cell phone more than you will if your car breaks down. If you have a cell phone you can call a service station and at least get a tow, if possible. If that is not possible, you can at least call someone to pick you up.
- Flashlight: The possibility always exists that your car can break down while you are driving at night. If it does, you will want to have a flashlight handy. - Reflective warning triangles: These will help protect you and your vehicle in case of a breakdown. Once you are over to the side of the road, turn on your hazard lights to alert traffic that may be headed your way.
Once you do this, follow these tips
- Enter and exit your car using the door that is furthest away from traffic.
- Place at least 2 reflective triangles behind your car and one in front of your car. Place the farthest one approximately 50 feet behind your car.
- If possible, move away from the car to make your phone calls and also have your passengers move away from the car.
- Call a tow truck, a ride, or the police. It is only natural to worry about your car but the first priority is your safety and your passengers safety.
Most importantly, don’t panic. If you are not in a familiar area or you are traveling and do not know who to call, contact the police. These are very stressful situations and there is no need to try to handle them alone under these conditions. Keep the priorities straight. Ensure the safety of yourself and your passengers first and then the protection of your car. The car can be replaced, a human life cannot.
If you have ever had a car break down, you are well aware of the benefits of having an auto club membership. More than anything else (and there is a lot) they provide you with peace of mind. Breakdowns happen, just make sure you know how to stay safe when they happen.
About the Author:
Travel worry free on the road with an auto club membership. CAA Travel and roadside assistance is a good insurance while you are on the road.
Tags: a, auto, auto club, auto insurance, automobile, automobile;truck, automotive, c, car, cars, d, driving, e, emergency road, I, insurance, m, mechanic, n, r, t, towing, travel, u, v, vacations, Vehicles
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Tuesday, June 23rd, 2009
by Susan Reynolds
You have to seriously consider the protection coverage of the car insurance policy that you are getting especially when you are using your car for business-related activities. It is important that you seriously consider the impact of adverse claims for damages on property and bodily harm that may result from accidents where a company car is involved. Commercial car insurance is the type of policy that provides protection coverage for the company assets and investments.
With the all the potential harm that such unforeseen events have on the interest of the company, it is just incumbent upon us to seriously consider our decision on the type of commercial car insurance that we get to protect company. There are a lot of things that come into play when we are deciding on the type of commercial car insurance policy for our business.
The issue becomes a bit tricky when it comes to small scale business outfits and home-based business enterprises. There are quite a number of business owners who rely on personal car insurance policies for their cars even if they are regularly used for business-related activities. These individuals believe that the protection coverage of conventional car insurance is sufficient for the needs of their business.
The decision is motivated by the degree of protection that the company would like to have in order to safeguard its assets and other company investments. You will have to decide on a lot of things when you going to take out a commercial car policy. These include the liability coverage, the premium payment cap and the payout range that will be required by your company.
Under any circumstance, a car that is used for company-related activities must be covered by a comprehensive commercial car insurance policy. As in all instances, you can consult your car insurance agent for the type of car insurance policy that is appropriate for your company. Your insurance agent is the proper person who can give you with the proper recommendation as to the liability coverage that your company will require in their commercial car insurance policy.
You have to consult your car insurance agent when it comes to the appropriate commercial car insurance policy for your business. This complicated process will require your action on the various aspects of the protection coverage that will be required by your business. The extent of coverage is influenced by the degree of protection that your company will require. Nonetheless, your policy is required by law to include coverage for liability to third party claims for damages to property and bodily harm.
You must also clarify with your insurance agents the implications of existing company policies on the type of commercial car insurance that is required by your business. Issues pertaining to caps on premium payments and insurance cost allocation will have to be re-evaluated while considering the recommendations of your insurance agent.
Tags: a, auto insurance, automobile;truck, automobiles, c, car insurance, cars, e, f, finance, I, insurance, n, p, personal finance, u, v, vehicle insurance
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Tuesday, June 23rd, 2009
by Graham McKenzie
There are not many people that would argue that business use is different than personal use. The thing that most people struggle with is the difference between the two. Being that car insurance is a very important aspect in our lives; we need to know what constitutes business use and what determines personal use.
When a business chooses to get a car insurance policy, they need to look at a few things. First, they need to address who will be on the policy. For example, in a personal policy, you have the responsibility of your family. Your family is a lot less liable than your business, even if you have a teenager. The best thing a business can do is retrieve the applicants driving record before they hire them on as an employee. By doing this, you are ensuring your insurance premiums to not skyrocket as well as the fact that you would even be able to add them on.
The way the business policy works is to allow the business owner to decide what is most plausible for their business practices. For instance, you would want to carry additional coverage if you were transporting expensive materials or delivering important items. In a personal policy, you will not have to worry about that. This is one distinction between personal vs. business car insurance.
Lines can often times become blurred when deciding whether or not you have used your car more for business or for personal use when the same car is being used. To avoid this confusion, it is advised that you use a logger for miles and gas. This will help differentiate which miles were used where.
Keeping business use and personal use separate is always the recommended path. Most people find that their business use is very limited and do not see the reason why they should take out a separate business insurance policy. Although this may be logical, you need to make sure your bases are covered. This means that if you choose to use your personal car insurance policy for business use that is limited, you will need to inform your car insurance agent of this change so they can adjust your policy to cover it. They can find cause to deny your claim if you are found to be using your vehicle for business purposes that were not defined in your policy.
As stated above, you rate will increase because your usage has increased. Understand the usage for business is anything that is defined out of your daily use. In other words, driving to a conference is business use. This even applies if they reimburse you for miles and gas. If you transport goods or deliver items, you are using your personal vehicle for business use and it has to be documented. Sometimes we do not view things as business use because we consistently do them without even thinking. . Always keep everything in check because there are certain ramifications for not complying.
Everyone always looks to get the bare minimum; however, imagine yourself cashing in on that later if something were to happen. Do you really want to be stuck with a large bill because you made the wrong choice prior? The best thing to do is talk to a car insurance agent and find out what is best for your particular situation.
Tags: a, auto insurance, automobile;truck, automotive, c, car insurance, cars, f, finance, I, insurance, m, money, n, o
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Tuesday, June 23rd, 2009
by Amy Nutt
Car insurance is necessary for every person who owns and drives a vehicle. In just about every jurisdiction, the law requires that you own auto insurance. It protects both you and other drivers from loss that may arise due to the negligence or actions of others.
Some people believe that price is the most important factor when considering car insurance. Although the price of the policy is an important factor, it is not necessarily the most important factor. What you pay as a rate is based on the risk assessment that the insurance company performs during underwriting. The assessment involves a process of evaluating you as a driver and making a determination of the probability that you will cause a loss.
Insurance is a contract of indemnity. What this means is its purpose is to indemnify, or restore you to your original value at the time of loss. The principle of indemnity means that the policy covers the insurable interest you have as policy owner, namely the vehicle you drive. Without this insurable interest, there would be nothing to insure. For example, a person that is involved in an automobile accident who is in no way related to you does not create a situation where you are exposed to loss. Therefore, no insurable interest exists and there is no need for insurance.
Based on the concept of indemnity and risk assessment, the insurance company wants to know some things about you. How old are you? What is your driving record? What are your driving habits? How far and how often do you travel by car? All of these factors, as well as others are important for the insurer to consider as they consider your premium rate. They are also the most common rating factors used to calculate your premium.
Insurance companies employ actuaries whose job it is to mathematically determine the probability of loss. Another concept regarding insurance is that it is an aleatory contract. This word is derived from a Latin word ‘aleator’ which literally means ‘dice thrower’ or ‘chance.’ This means that your premium is a hedge against a probability or the chance that a loss may occur. It also means that if that loss occurs, as long as you have met all of the conditions of the contract, the insurance company must pay the claim.
The more times that you are exposed to loss, the higher the chance that loss will occur. It is like determining the likelihood of drawing a queen out of a standard deck of 52 cards, which is a 1 in 13 or 8% chance. If you were going to draw a queen out of a deck of two cards, that probability jumps to 50% or 1 in 2. The greater the probability of something happening, the less ideal it becomes as an insurable risk. The more you drive, the longer you drive, coupled with having a lot of speeding tickets indicates that you are a larger risk to the insurance company - a 1 in 2 as oppose to a 1 in 13 - and will be charged more premium. There are other factors that go into premium calculation, but understanding loss exposure gives you an ideal as to why an insurance company charges what it does.
Tags: a, auto, auto insurance, automobile;truck, business, c, car, car insurance, e, f, family, finance, h, home, I, insurance, l, legal, life, n, o, p, params, personal, r, roadside assistance, s, society, v, variables
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