Auto insurance » Damages

Comprehensive Car Insurance

admin — Tue, 23 Nov 2010 04:55:35 +0000

I wanted to break down the main parts of car insurance for you to understand what each are and why you have to pay so much for each part. The three main parts are liability, collision, and comprehension. This article is about comprehension car insurance.

This portion of your insurance covers damages caused by break-ins, theft, hail storms, tree limbs, vandalism and fire. One hail storm could total out your car due to the cost of popping out all the dents. Not sure if you’ve been through that before, but I have, and it was very expensive. Also, a friend of mine, just this week, got their back window shot out of their van. Doesn’t sound so bad, but it was vandalism with a pellet gun. The glass replacement was $700 and they had a deductible of $500. You do the math. Ouch.

Sometimes it doesn’t pay to have comprehension insurance. If you have an older car that isn’t worth much, then you’d be better off to save the money towards a new car or just save it to pay for any damages that may occur. You have to look at the cost of comprehension insurance and the value of the vehicle. I know some people want it no matter how old or junky their car is. But why pay for hail damage and radio theft if your old car doesn’t have a radio. Besides, if you have an old car, the radio is probably old, too.

But when you go and buy a new or newer car, having full coverage makes sense. Finding old junkyard parts on a new car is quite difficult and if you find the part, they are rare – hence – expensive. Now, most people have comprehension insurance because the bank or finance company requires this coverage. If you finance a car, then they make you pay for full coverage insurance. Not fair? But think about Mr. Banker for a moment. You have to carry insurance and keep the car in good shape so it can be sold in case you don’t pay for it. So if you don’t have insurance on your new Dodge Ram, and a hail storm comes and instantly depreciates out your truck by $6,000 – ouch.

In summary, comprehension insurance is required if you finance the vehicle. You can raise the deductible to keep your payment low. You also might want to consider dropping this insurance if you car isn’t worth $3000 or if its 10 years old or older.

By: Stuart Simpson

Cheap Car Insurance in Milwaukee, Wisconsin

admin — Fri, 05 Nov 2010 18:43:40 +0000

Wisconsin is one of the few states that don’t have a minimum requirement when it comes to car insurance. Motorists who live in Milwaukee, Wisconsin do carry a burden though and that’s to prove that they can cover the damages in the event of an accident. Without their own means of doing that, most motorists take the economical route and purchase car insurance.

One mistake that too many people make is insuring their car for more than its worth. Many people drive older cars because they simply don’t want to make the investment in a new automobile just yet. For them, they likely have had the vehicle for more than a few years and at one point needed collision coverage on it. As the vehicle ages, the value of it decreases. There comes a point where the cost of the continued collision premium just isn’t justified anymore considering how little the car is worth. Removing the collision coverage will always result in cheaper car insurance.

Where you store your car can also have a direct affect on how high or low your car insurance rates are. Many people in Milwaukee, Wisconsin live in single family dwellings with garages. If the car is typically parked in the garage and this is noted by the insurance company, it can result in a discount. There’s much less chance of the vehicle being vandalized if it’s always in a safe and covered environment.

The type and amount of coverage you had in the past can also play a part in your current car insurance rates. Buying adequate coverage every time you sign up with a new insurer and then doing your best not to file a claim will help lower your rates. Your reputation really does hold a lot of weight when it comes to how much you’ll pay in car insurance, so ensure that you always do your best to stay claim-free.

By: Deborah Mills

Colorado Auto Insurance Minimum Coverage Requirements

admin — Tue, 27 Jul 2010 00:03:42 +0000

Are you aware of the Colorado auto insurance minimum coverage requirements? The minimum levels of auto insurance coverage requirements are set by CO lawmakers. Driving without the required insurance is a very serious matter and can result in penalties and unwanted hassle.

Bodily Injury Liability

As a Colorado driver, you must have at least $25,000 in individual bodily injury liability insurance in place. This type of insurance pays for the medical expenses of a person injured in an automobile accident where you are considered the at-fault driver. Your policy must also have a cap of at least $50,000 to pay the medical bills for two or more people injured in the same accident.

Property Damage Liability

The property damage liability portion of your policy pays for damage caused to objects, such as the other driver’s vehicle, a mailbox, a fence, or a shed. The minimum level of coverage required by law in CO is $15,000.

Please keep in mind that the minimum levels of insurance coverage set out here are just that. Drivers in Colorado do have the option of buying more coverage if they want to. Before you make a decision about what level of coverage to buy, you will need to keep in mind that if you at the at-fault driver in an accident, you will be responsible for paying for damages above your policy limits.

It makes more sense to insure your vehicle properly and not take the chance that you will have to consider tapping into your savings or liquidating your assets after an accident. Your insurance company or agent can help you to figure out how much coverage you should have in place.

Find Colorado Auto Insurance Coverage Today

Now that you know what the Colorado auto insurance minimum coverage requirements are, why don’t you get take the next step and make sure you have enough protection for your needs? Spend a few moments comparing rates from some of the top companies and you can be on your way to the best Colorado car insurance in a jiffy!

By: James J. Robinson

What Type of Car Insurance Should I Have?

admin — Tue, 27 Apr 2010 16:32:52 +0000

“What type of car insurance should I have?” is a common question. Here’s a brief outline of what you should have and how to get it at the best rate possible.

What Type of Car Insurance Should I Have?

Most states require you to have a minimum amount of liability insurance, which includes:

* Bodily injury liability coverage which pays your legal fees and claims made against you when you, a family member, or someone driving your car with your permission, injures or kills other people.

* Property damage liability coverage which pays your legal fees and claims made against you when you, a family member, or someone driving your car with your permission, damages someone else’s property.

A few states also require you to have uninsured motorist coverage which pays for medical fees and property damage expenses for you, your family, and your passengers when you’re hit by an uninsured, underinsured, or hit-and-run driver.

These two types of insurance are all you’re required to carry. However, if you’re in one of the categories below you should consider purchasing the following coverages:

If you drive a late model car – you should carry collision and comprehensive coverage. Collision coverage pays to repair your car when you’re involved in an accident no matter who was at fault, and comprehensive coverage pays to repair your car when it’s been damaged by fire, vandalism, theft, or acts of nature.

To save money on collision and comprehensive coverage, get the highest deductible that you can afford to pay. Raising your deductible from $250 to $1,000 can save you up to 50% on your insurance premium.

You may also want to purchase personal injury protection coverage which pays medical expenses for you and your passengers when you’re involved in an accident. It also pays medical expenses for you and your family when you’re injured in someone else’s car or when you’re walking or riding a bicycle.

If you drive and older car – consider dropping your collision and comprehensive coverage altogether, especially if your car is worth less than the cost of your insurance plus your deductible.

If you have more than one car – insure both cars with the same company. Doing this can save you 5% to 15% on your yearly premium.

If you’re shopping for a car – buy a safe, low maintenance, low profile car, like a Honda Accord or Toyota Camry, to save big bucks on your auto insurance. Cars that cost a lot to repair or that are favorites of thieves cost a lot more to insure.

If you’re a teenager or a student – keep your grades up, take a driver’s education course, and keep a clean driving record to keep your rates low.

Comparison Shop to Get the Best Car Insurance Rate

Comparing rates from different companies is by far the best way to get the best rate on your car insurance.

By: Brian Stevens

Auto Insurance FAQs: Your Questions Answered

admin — Wed, 07 Apr 2010 01:51:50 +0000

When it comes to auto insurance, most consumers have questions about the kind of coverage they buy, what they’re required to have and if there are options for high-risk drivers.

Learning the answers to these and other questions can help you make better purchasing decisions when it comes to car insurance. And now, finding answers is easier than ever!

Frequently Asked Questions about Auto Insurance

Can I drive without car insurance?

No! Almost every state requires its motorists to carry liability insurance, which covers damages to people and property resulting from an accident for which you are at fault.

All states also have financial responsibility laws, which require you show the state that you have the funds to pay claims if you have a bad accident. If you don’t have proof of sufficient funds (which varies by state), you’ll need to purchase at least the minimum state-required coverage.

What are the minimum insurance requirements?

While minimum coverage amounts vary by state, all state-required insurance will cover your liability for bodily injury and property damage.

For example, if the minimum auto insurance requirement in your state is listed as 25/40/15, this means that you’ll have coverage up to $40,000 for all motorists injured in an accident, up to a $25,000 for one person in an accident and $15,000 for damaged property.

While this may seem like a healthy amount of coverage, purchasing the state minimum is really purchasing a bare bones insurance policy. The Insurance Information Institute (I.I.I.) recommends carrying at least $300,000 liability coverage per accident and $100,000 per person–and your insurer will encourage you do to the same.

What happens if I can’t find car insurance?

If you’ve applied for car insurance and been turned down because of your driving record or other factors, fret not–you still have options available to you. According to the I.I.I., you have two options: join a state assigned risk pool or buy a policy from a non-standard insurer.

An assigned risk pool consists of insurers in your area, who under state law, are required to participate in proportion to the amount of voluntary business they accept. As a result, insurers must accept motorists assigned to them and write policies accordingly. But because insurers have to take a substantial risk on insuring high-risk drivers, premiums are significantly more expensive.

Non-standard insurers may also be able to write you an auto insurance policy. These types of private insurers typically write policies for motorists with a poor history of accidents, people who live in “high-risk” neighborhoods and those who drive high performance cars.

While both of these options may have you forking over some extra cash, they might be your only source of auto insurance until your circumstances improve. Just remember to keep shopping around so you can switch insurers once you find a better premium price.

What are the differences between nonrenewal and cancellation of a policy?

You or your insurer can choose not to renew your auto insurance policy after it expires for a variety of reasons. You might decide not to renew your policy if you find a better deal somewhere else or weren’t happy with the service you were receiving.

An insurer may not renew your policy if you did something to substantially increase their risk to cover you–or if the company decides to write fewer policies in your area.

Cancellation, on the other hand, is more serious. According to the I.I.I., insurers cannot cancel a policy that’s been in force for more than 60 days unless:
You fail to pay your premium You defraud the company Your driver’s license is suspended or revoked
Cancellation of your policy may also make it harder to find insurance in the future, thus forcing you to buy a high-risk policy for a more expensive premium.

What if I’m not satisfied with my insurer?

As a consumer, you have rights when it comes to your auto insurance. If you’re not satisfied with your agent, let him or her know. If your complaint still goes unchecked, see if the insurer has a consumer complaint department and file a complaint.

If your issues remain unsolved, contact your state department of insurance. The department of insurance exists for consumer education and protection, and they can provide you with help and resources to take your complaint to the next level, or find a new insurer. You can contact your department of insurance by phone or find them online for more information.

A knowledgeable consumer is a powerful consumer!

Finding questions to your auto insurance answers is the first step to becoming an educated consumer–allowing you to make wise purchasing decisions about affordable car insurance. Find more answers to your auto insurance questions by contacting your state department of insurance!

By: Megan Mahan

Insurance – Understanding Car Insurance

admin — Thu, 04 Mar 2010 19:24:53 +0000

Buying car insurance can be a very big expense on the household budget, especially if you have teenage drivers in the family. Add in the fact that every state has different liability requirements and things can get quite confusing pretty quick. It’s good to know what is required and what everything in a car insurance policy means. So let’s take a quick look at what an auto insurance policy really is.

Liability

This is what protects you in the event you cause an accident and hurt someone else, or damage property. Every state has there own liability requirements. Be sure to check what your individual state requires. Let’s take an example of a policy with a liability limit of 100,000/300,000. The first 100,000 is the limit that the policy will pay for any one persons medical expenses. The next figure, 300,000, is the limit the policy will pay for all medical expenses for anyone in the accident.

It is important to note that liability coverage will not pay for any injuries or damage to your own vehicle.

Property Damage

This is the total amount that your insurance policy will pay for property that you damage if it is determined that you caused the damage. Generally, most policies have $100,000 as a property damage limit. You can increase that if you wish to. With the price of cars and property these days, it may be a good idea to increase that limit up to $250,000.

Comprehensive

This insurance coverage pays for damages done to your car. This includes theft, storm damage, fire and vandalism. This coverage will have a deductible attached. The rate for this insurance coverage goes down as the deductible goes up. This coverage will also be required on any loan you may have on the vehicle.

Collision

Collision coverage will pay you for damages down to your own vehicle in the event an accident is deemed to be your fault. If your vehicle is totaled out in an accident the insurance company will pay you the actual cash value of your vehicle. This could be less in some cases than what your vehicle is worth. Collision coverage is also required by finance companies on any loan against your vehicle.

Uninsured / Underinsured Motorist

Uninsured and underinsured motorist coverage will pay you in the event of an accident that is not your fault and the other party has either no insurance coverage, or not enough insurance. No matter what the law states, there will always be those who refuse to carry insurance. That makes having this insurance coverage vitally important.

Optional Coverages

There are many different optional auto insurance coverages that you can purchase on your auto policy. Some of these include emergency road service and rental car coverage. Both of these services can be a big help to you in the event of a claim.

By understanding the various auto insurance coverages you’ll be able to determine what exactly you need for your particular situation. In the long run this will help save you money and give you peace of mind.

By: Michael Russell

Understanding Auto Insurance Jargon

admin — Sun, 03 Jan 2010 02:12:31 +0000

When reading through an auto insurance policy, it can seem almost impossible to understand. This is because there are various words that we do not use in our everyday language. Actually, those words are not really used outside of the insurance industry or outside of a conversation involving insurance. If you don’t have an understanding of those words, then it can seem as if someone is speaking a foreign language to you. That is why you should learn some of the insurance jargon that is thrown around because insurance happens to be a large part of your life.

Without insurance, you do not have any type of protection in case you are in a car accident. If you don’t have protection, then you can be sued. Being sued means you’ll have to pay for any damages sustained in an accident if the accident was your fault. Even if the accident wasn’t your fault, you still have to worry about your medical bills, replacing your car and the medical expenses of anyone in the car with you. This in itself makes it obvious why auto insurance is a necessity. Luckily, states mandate that people must have a minimum amount of auto insurance.

Basic terms

There are really only five basic terms that you need to know when talking about car insurance. Those terms are:

- Liability coverage
- Physical damage coverage
- Medical coverage
- Emergency assistance coverage
- Unattached equipment coverage

A few of these may look a bit familiar to you, but there are a couple of them may not. We frequently hear the terms liability coverage, physical damage coverage, and medical coverage when talking about car insurance and reading our policies. What we don’t hear much of is emergency assistance coverage and unattached equipment coverage. These are, of course, not as important as the other aspects of your coverage, but that does not mean that they should be ignored since they are great add-ons to your policy.

The most common of the terms you will hear is liability coverage. Liability coverage is the part of your policy that covers damages caused by you in the case of an accident. You should always make sure this coverage is enough to cover damages. If not, then you may have to pay an out of pocket expense to the person who was the victim in the crash. Medical coverage covers you and any passengers within your vehicle as a result of a crash. Physical damage coverage will help you repair or replace your vehicle.

As for the two terms that are a bit different, emergency assistance coverage is like a type of roadside assistance. Adding this to your plan provides you with tow service so that you’re not stranded on a highway in unfamiliar territory. Lastly, unattached equipment coverage provides coverage for that equipment that is not a permanent attachment to your car. That may include something such as a satellite radio system. If you have expensive attachments on your car, you want to make sure that you insure those as well so that you don’t have to pay for their replacement or can have those items repaired by your insurance.

Having an understanding

Knowing these terms is the first step in understanding some of the confusing but important terms that you will see and hear. If you don’t understand them, you cannot understand what type of home and car insurance coverage you have or even how it works. Knowing how it works helps you determine if what you have is adequate enough for your particular needs.

By: Amy Nutt

Cheap Full Coverage Auto Insurance

admin — Fri, 18 Dec 2009 03:14:08 +0000

If you are in the market for cheap auto insurance, you are bound to be confused by the wide variety of choices available. It pays to take some time before you make a decision. It is therefore important that you consider several aspects before you take a definite decision. Once you are armed with the basics, you will be ready to go ahead and choose the perfect auto insurance plan for your needs. You can — and should — of course, seek some help. When you hear the phrase “full coverage auto insurance”, do you know what it means? This is simply a comprehensive coverage that would cover you, personally, in every aspect and possible type of insurance the company offers.

For example, coverage for medical costs may be optional with some insurance policies. But if you have a full coverage auto insurance policy, you can have your and your passengers’ medical costs covered, should you be in an accident where injuries are sustained.

A full coverage auto insurance policy also covers liability. This means if you are at fault during an accident, the coverage will enable your policy to compensate for the damages caused by you. It is always advisable to have liability coverage in your auto insurance. Although you may always claim that you had never been at fault, you can never be sure where the blame will ultimately be placed in an accident. It is always better to be on the safer side with auto insurance.

The premium to be paid and the policy period will differ based on the insurance company, your age and also your gender. The age of your vehicle also determines whether you should go for full coverage or not. Supposing yours is an old vehicle on its last legs, it is not necessarily a good decision on your part to go for full coverage, as you will end up paying a higher premium. You may end up paying more premiums than the current market value of your car. Newer cars, or any vehicle for that matter, are better served with cheap full coverage auto insurance policies. There are other comprehensive policies that can cover you in cases of vandalism or arson, as well, though they are not as commonly purchased by people.

You can always check out the various online resources available for more details on cheap full coverage auto insurance. Also, don’t be afraid to get in touch with insurance agents, as they can provide you great information on the current trends in cheap auto insurance.

By: Jennifer Bailey

Georgia Auto Insurance Requirements

admin — Wed, 02 Sep 2009 09:26:53 +0000

There are a few Georgia auto insurance requirements to consider when shopping for a policy for your vehicle. These are standard necessities that the state has mandated in order for you to drive legally. The state minimum is all that you need to drive but it is always a good idea to consider getting a bigger policy.

All drivers in the state of Georgia must have liability insurance for each vehicle that they own and operate. This insurance is very important because it serves to help pay for injuries and property damage that may occur in the event of an accident. Liability insurance pays medical bills and for damages done to vehicles and other property.

Georgia Auto Insurance Minimums

Many drivers just want the minimum coverage that will allow them to drive legally in the state. The least amount you can purchase for your policy is 25,000 per person for injuries to the body and 50,000 for bodily injury for two or more people. Property damage must cover at least 25,000 dollars worth of damage.

While some drivers used to try to operate their vehicles without insurance, modern technology has made this very difficult to do without being detected. The state can verify your insurance status by using the Internet. This resource offers quick, reliable information that is supplied by the Department of Revenue.

Some drivers like to be a little conscientious especially after switching insurance plans. Consumers can check with the Department of Revenue by visiting its website. The process of verifying whether or not your insurance is well documented is an ideal way to cover your basis.

Many drivers may be surprised to find out that they still need to carry a hard copy of proof of insurance. This is a necessary document that should accompany you at all times. Most people just keep a copy stored in the vehicle. This information is helpful in case of an accident or if you are pulled over by a police officer. The document is also necessary when traveling out of state.

Having adequate coverage is not only a relief but it is also the law. Georgia auto insurance is well documented and very important to maintain.

By: James Hyder

Auto Insurance – Why Non-Car Owners Also Need It

admin — Thu, 16 Apr 2009 05:47:19 +0000

An auto insurance policy for non car owners? What for? Hold on tight because you’re in for a big surprise! A car insurance policy is a smart move even if you don’t own a car if you fall into any of the situations I will talk about later in this article.

If your city has a dependable mass transit system, you will not need a personal car for your daily movements. Car rental services are always there to take care of those times you may need a car for private use.

Along with renting a car, you’ll also have to get an auto insurance cover for the rent period. These rental service sell such car insurance policies. A non-owner car insurance policy is, however, cheaper for you on the long run if you rent cars often. You won’t have to be buying short term insurance covers from rental companies.

If your friends and relatives know that you have an auto insurance policy they’ll be more likely to release their car to you than otherwise. If you are a car owner, who would you consider more responsible: The fellow who has a non-owner car insurance policy and the guy who doesn’t? If you show that you are very responsible, people prefer to deal with you.

Hold on. A non-owner auto insurance policy works within a certain rule. If an accident happens, your non-owner’s policy cannot take precedence over the car owner’s policy. It kicks in only if the car owner’s policy’s liability limit cannot take care of the damages caused. I think an example will help make this clearer…

Let’s say you had an accident with a borrowed car that resulted in damages that totaled $27,000. In spite of your non-owner’s policy, the car owner’s policy will be used if his/her liability limit is, say, $30,000. If, on the other hand, there is a deficit where the car owner’s policy cannot cover such damage, your non-owner’s policy will take care of the balance.

It is good that you know that irrespective of the type of auto insurance policy you intend to get, you can make a lot of savings by capitalizing on the disparity in car insurance rates. This can save you several hundred dollars or even much more. Moreover, it’s very ethical — No shady deals here.

If the possibility of saving $1000 fascinates you, then take some time out to visit at least three insurance quotes site. All you’ll have to do is get and compare quotes. And, it will only take you about 5 minutes per site. Auto insurance quotes sites give quick, free non-obligatory quotes.

By: Chimezirim Chinecherem Odimba