Monthly Archives: July 2018

What Factors Define Your Auto Insurance

In the modern over-saturated auto insurance market choosing the right auto insurance package could be very challenging. Some insurance carriers proudly offer the cheapest insurance packages, others try to overwhelm you with impressive array of services and features they offer. But it’s not always the cheapest price nor the richest set of services that you should be concerned of – it’s the ever moving right combination of best price AND the best coverage which you have to try to achieve.

Below are the main factors that will define your individual auto insurance premiums.

    • Driver’s Age.
    • Insurance rates for too young and too senior drivers are usually noticeably higher than for the average-age drivers. These two categories of drivers are considered to incur a higher risk of traffic accidents and therefore are more expensive for insurance providers.

    • Driver’s Gender
    • This factor would make the feminist movement very happy – male drivers usually pay higher insurance premiums than females! The reason – statistics shows that men are more likely to drive aggressively than females and hence they are more risky for insurers.

    • The Age and Condition of Your Vehicle.
    • Brand new cars are more expensive to repair; this can drive the insurance package price up. Also, speedy sport cars are more accident-prone and therefore have higher insurance rates.

    • Do You Legally Own the Car You Drive
    • If you drive your car regularly but don’t legally own it – for example, the car you drive is from lease or the car was purchased by you but is not paid off yet – you might be requested to buy more than just liability coverage insurance. The more expensive package of

Collision Coverage

    •  plus

Comprehensive Coverage

    •  is often required in these cases.

    • Average Miles You Drive Daily.
    • Cars used sparingly, say – only 5-10 miles a day – understandably introduce a lesser risk of traffic accidents and therefore are cheaper than the cars which make 150 miles every day.

    • Deductible You are Willing to Pay.
    • A deductible is your co-pay in the case of an auto accident. The higher your deductible is – the more losses you are willing to share with the insurance company and the lower your insurance package price will be.

    • Your Driving Record.
    • Drivers with no tickets or accidents always pay less.

    • Years of Your Driving Experience.
    • The more driving experience you have – the better your chances are to get a low rate. But this is just a general rule. Many auto insurance carriers would ask a driver about the age when his

first

     driver license was issued in the USA or Canada. For those auto insurance carriers only North American driving experience is counted. Note also, that if you moved to the USA from Great Britain, Japan or any other country with left-hand traffic (total of 76 countries, territories and dependencies) you will likely to pay a much higher premiums in USA.

  • State of Your Residence.
  • You might be surprised but insurance rates for the same person and the same vehicle vary significantly from state to state. These differences reflect the increased risk and hence the increased operating cost for insurance companies. For example, insurance rates in hurricane- and tornado-prone areas are usually much higher than in regular places.

  • Vehicle Safety Features.
  • Anti-theft protected vehicles decrease the risk of a loss. Also, cars with ABS, air bags, rear-view cameras and other safety gadgets are considered to be safer and therefore are cheaper for auto insurance carriers. That is the main factors which would affect ones auto insurance premiums in general.

Conclusion

Buying insurance policy for your vehicle could be a costly and challenging exercise. Age, gender, vehicle condition, average daily miles you drive, State where you live are the few factors that will define your monthly insurance premiums. Knowing that factors will help you to better understand insurance quotes coming from competing insurance carriers and will make you better prepared for making your purchase decision. Shop around and choose the best auto insurance package for you.

Alvin Borsinger – web master and web marketing manager at CarGalaxies.com – a BorSystems Company.

You can get a pretty accurate picture of what real auto insurance premium you can expect in your particular case if you use the right Internet resources.

Fault Auto Insurance Explained

No-fault auto insurance is coverage which operates under the rule that no single driver was at fault in a car accident. Therefore no fault is determined in a car accident and each injured party will file a claim with their own respective auto insurance company for damages. For example, if Robert and Susan get in a car accident, Robert will file a claim with his insurance company and Susan wile file a claim with hers regardless of who was at fault – because there was no one at fault.

There are two types of “no fault auto insurance”. The most common type is the pure form which limits liability and a person’s right to sue in a car accident with the exception of major injuries, extreme negligence and a small number of other reasons. Most car accidents which happen under no-fault car insurance coverage simply end up with a claim for damages and injury costs with no punitive or nuisance lawsuits.

The other type of no-fault auto insurance is the “add-on” option available in some states. The advantage of adding a no fault car insurance option to your policy in these states is that you can file a claim with your car insurance company regardless of who was at fault. This insures the policyholder a quick claims handling process but because its just an “add-on”, and not a pure form of no fault insurance, there is no protection from frivolous litigation in a car accident. Most states only offer the pure form of no fault car insurance.

Can I still be sued with No Fault Auto Insurance?

Yes, “no-fault auto insurance” is not a diplomatic immunity like blanket of protection from all liability in a car accident. However certain financial thresholds must be met before the court will allow a lawsuit to proceed. Monetary damages are not the only reason you can be sued – In cases where a driver operated a vehicle with extreme negligence, people suffered extreme injuries and a variety of other reasons can still open you up to litigation. One of the most common reasons to be sued with no fault auto insurance is actually being underinsured as there is no law preventing someone from suing for damages which exceed your policy limits and you didn’t pay. However for most typical accidents you don’t have to worry about a car accident lawyer showing up at your door serving a lawsuit. If you only purchase the add-on type of no fault car insurance all bets are off and the ambulance chasing lawyers can sue you.

What are the advantages of No Fault Auto Insurance?

No-fault car insurance laws were created to help reduce the amount of nuisance lawsuits resulting from car accidents, save courts money from dealing with these suits, limit the liability of car insurance companies and create a quicker claims handling process for policyholders. In theory no fault car insurance provides a lot of protection however some states have reverted back to traditional tort law even after having no fault car insurance in place for years. There is a lot of debate about the effectiveness of no fault car insurance laws in the bigger picture but as a driver there are many advantages to living in a state with no fault auto insurance including a faster claims handling process and limiting exposure to frivolous lawsuits.

What states have no fault auto insurance laws?

Only about a dozen states have no-fault car insurance laws currently in place. Some states require all drivers to have no fault car insurance coverage whereas others provide drivers an option to choose between typical coverage and no fault coverage. The state where no fault auto insurance is in place includes:

· Florida

· Hawaii

· Kansas

· Kentucky

· Massachusetts

· Michigan

· Minnesota

· New Jersey

· New York

· North Dakota

· Pennsylvania

· Utah

How much car insurance required will depend on where you live but in addition to any required liability insurance you will also be required to purchase PIP insurance (personal injury protection) to cover any medical expenses of the policyholder in a car accident.

How much is No Fault Auto Insurance?

There are many reports which say no fault car insurance is cheaper and then there are others which say the cost of auto insurance is roughly the same compared to typical coverage. The problem lies with auto insurance being a relatively equal cost for most drivers that its hard to measure the difference.

Purchase Auto Insurance

Interested of learning more on how to puchase auto insurance online? Then this article is for you, Im sure you’ll learn something upon reading this article.

Oh! I also compiled more articles that you should read before buying any auto insurance to avoid regrets later. You can view them at my site, look for the link at the bottom of this article.

“Internet” or “Online”, those words might be meaningless if mentioned 50 years ago. But nowadays it seems that everything is moving to the Internet. Purchasing products, emails and even looking for a soul mate is can now be done online. And thanks to the wonders of innovations on technology. It is possible nowadays to purchase auto insurance online.

Is it safe? Is it legal? This may be some of the questions that you may be asking before considering to purchase auto insurance online. Do not be worried. This is a guide on frequently asked questions: “Purchase Auto Insurance Online”

Is it safe to purchase auto insurance online?

Generally, yes it is. Technology has now developed secure connections to transmit data. Just be sure your visiting a legitimate insurance company, and not just dummy website that’s just out to get personal information to find a way to exploit you. It’s also best that you purchase auto insurance online from companies you know that are running an offline insurance business.

Is it legal to purchase auto insurance online?

There are some states that it’s legal to purchase auto insurance online. Just be sure to ask for information for the costumer service. Ask them if it’s legal to purchase auto insurance online from your state. If not, then don’t worry it wont be long. All roads are leading to the information superhighway.

What are advantages when it comes to dealing with online auto insurance?

There are tons of advantages why you should shift to online with dealings to purchase auto insurance online. One is convenience. With just a pc you can access your policy anywhere. Update those all-important records instantly. You can produce a printout of your “up to date” auto insurance coverage and auto insurance span.

The Internet is the wave of the future. It’s not going away anytime soon. Its better that you get comfortable with it and that includes the time when you purchase auto insurance online.