Car Blog » Car Insurance

Don’t forget your towing benefits…

kevin — Mon, 26 Jan 2009 14:45:01 +0000

My wife reminded me that our insurance policy provides towing reimbursement for accidents and repairs. I recently had to have my Expedition towed into the repair shop and my lovely wife reminded me that our insurance provides up to $50 yearly for towing. So take a look at your current policy and see if you have the same benefit and don’t forget about it the next time you need a tow!

A Blonde Moment

kevin — Tue, 13 Jan 2009 03:53:59 +0000

Can you believe my wife did not know the difference between collision and comprehensive insurance coverage ? Well to tell you the truth, she is a blonde, but it’s a sad fact that many people do not know the difference. Click here to read about it…

How To Get The Best Auto Insurance Deals

kevin — Sat, 07 Oct 2006 19:31:10 +0000

Ever wonder what it takes to get the best auto insurance deals? Simple. Shop around and do it yearly. Don?t just keep paying the invoice over and over without comparison shopping. Here are a few suggestions to help you get the best deal available on your automobile insurance policy.

There are also many decisions you can make about your policy that will save you a bundle. As an example, if you change your deductible on your collision from a $50 deductible to a $500-$1000 deductible, you?re inline for a huge premium savings. If you don?t think you could come up with $1000 out of pocket, you can change it to a $500 deductible.

You can also get more of a savings if you change your comprehensive deductible. Many people needlessly carry full coverage on their older vehicle. They originally purchased the vehicle new, paid for full coverage and to this day, continue to pay the same high rate. Don?t make the same mistake: talk with your insurance company and see if there?s a better rate for older automobiles.

Here?s another great trick: combine your vehicles and other insurance together to get you additional savings. All insurance companies offer a multi-car discount (if yours doesn?t, it?s time to switch companies). Further, many will discount more if you have your homeowners or renters policy with them.

Often times, there are also other discounts that you may not be taking advantage of. It seems obvious, but make sure you are getting the correct rate for your age. There are discounts for various ages than can save you lots of money. Check with your agent on this one. Also alarm systems on your vehicle are usually good for a discount. Additionally, anti-lock brakes and air bags can also help lower your premiums.

Never just keep paying the invoice when it comes in. By following some of the above tips and tricks, you?ll be saving a lot of money on your auto insurance bills.

About The Author
Dr. Drew Henry operates a network of auto-related websites, including http://www.firstautostore.com, http://www.southernautorental.com and http://www.car-auto-loans.net. Visit his sites today for more articles and resources!

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Determining how much Auto Insurance Coverage you Need

kevin — Thu, 31 Aug 2006 14:16:19 +0000

Determining how much Auto Insurance Coverage you Need

1: Other Party:

Auto Insurance Bodily Injury (BI) Liability and Property Damage (PD) coverage is Legally required in most states today. (BI & PD) Most people understand that they need BI and PD, but they have no idea how to determine how much coverage they need.

Try this simple question: What if your car was involved in an auto accident tonight where heaven forbid, someone else was injured or killed? Remember, everything you own is in the back seat of the car with you and is at risk in a lawsuit! So, what do you think their family would sue you for? $15,000? $25,000? $100,000 or even maybe a Million dollars! Where would you get the money to pay them?

Perhaps the Equity in your Home would help? How about your Savings and/or Investments? You could even have up to 25% of your wages attached to pay the award in most states! Are you prepared to sacrifice everything you own to pay an award due to this accident? If not, read on for how to choose the auto insurance coverage you need.

2: You and Your Family:

Now let?s turn the above accident around. For some unfortunate reason, you or a loved one is the one who is injured or killed in an auto accident. Where would you get the money if the person who hit you did not have auto insurance or not enough auto insurance? Medical bills can be covered if you have health insurance. But health insurance doesn?t cover loss of life, pain & suffering or permanent disability.

Maybe you have a life insurance policy through your employer or your own individual life policy. Is the benefit amount sufficient to cover your family if your loved one is killed? But even if you have life insurance, what pays for the misery, the pain and suffering, maybe the fact you or a loved one can?t walk or use their arms again?

You might have a disability insurance policy through your work if you?re lucky or had good financial advice. But disability insurance doesn?t pay for loss of life, pain & suffering, permanent loss of your legs, arm or hand.

The only coverage that pays for these things is a part of an auto insurance policy known as Un/Under-insured motorist coverage. You can only buy as much coverage here as you have in Liability coverage. Your auto insurance agent should be able to help you determine the exact amount you need.

3: Your Car

Comprehensive and Collision Coverage are the third part of an auto insurance policy and are sometimes referred to as ?Full coverage.? Basically the difference is this: If you run into the tree you are covered by Collision coverage. If the tree runs into you (hypothetically of course), then you are covered by comprehensive coverage. Comprehensive also covers broken windshields, fire, theft and vandalism. The higher deductible (risk) you take here, the lower the premium. Use the savings here to purchase higher limits in the coverages that protect your assets and your family.

The bottom line to determining proper auto insurance coverage is, of course, the money available in your household budget. An excellent place to start in determining the proper auto insurance coverage for your family is to meet with your local auto insurance agent.

Most cut-rate companies concern themselves with one thing only: Price. Tell them what coverage you have and they?ll see if they can give you the same coverage for less. You become the insurance professional. If this is the only need you have then that is ok. If not, you need to seek the advice of a professional to help you determine the proper amount of coverage you need and how best to accomplish it.

Review these tips for auto insurance coverage to make sure you have enough to protect your family. You may reprint this article on your site or in your newsletter with proper credit to the author and a simple link to http://www.hometownquotes.com

Buying Auto Insurance (part 4 of 4)Jeanine Steele

kevin — Fri, 25 Aug 2006 01:30:12 +0000

Think About it: You Need to Buy Insurance to Protect Yourself, Passengers, and Family Members by Purchasing Underinsured Motorist Coverage (part 4 of 4)

One serious mistake is to decline UIM coverage. Some companies require that you purchase UIM in the same amounts as the liability insurance. However, many companies, depending upon state law, are authorized to sell denominations of UIM coverage less than the liability limits. The insured thinks that he is providing some satisfactory minimal coverage for his family and decides to save some money with lower UIM limits. However, UIM is probably the most important place to spend money.

You are not as likely to cause an accident, as you are to be a victim of an accident. At least if you are taking the time to read this article, you are probably a person who will exercise more care and judgment in your driving than the ordinary person. Therefore, it is more likely that you will be making a claim against another person for injuries sustained by you at the hand of the third party tortfeasor. In this instance, the tortfeasor may (but likely will not) have sufficient insurance to cover you and your passengers for all of your medical expenses, wages loss, and general damages. If not, then the tortfeasor is said to be underinsured. In that instance, the balance of the value of your claim, above the bodily injury policy limits of the tortfeasor, is the responsibility of your own companys UIM coverage.

A third possibility is if the tortfeasor is uninsured. This is a distinct likelihood if someone who is reckless, or who has a drinking problem or who is driving with a suspended license involves you in their traffic habits. They caused you and your passengers harm, but they have no insurance. You will be making your entire claim under your UIM polity limits.

All too often, we have seen serious injuries to individuals and their families receive little or partial compensation because the insured elected to save money by not purchasing the maximum UIM coverage available to him. Purchase as much UIM coverage as you can.

Be Honest

A word of caution in dealing with your insurance company: dont try to fool them on any of the information requested, or by insuring only one driver for each of the family vehicles. We have numerous cases holding that one family member is not covered because he or she was not named as a driver of another family vehicle. Questions of whether the vehicle was available for the regular use of any individual are complex issues, and history tells that you will lose. Disclose the full number of drivers and you will have the knowledge that you and family members are covered.

The same thing pertains to marital status and student status of children. Our recommendation is to be honest in your application and in your relationship with your company. The few dollars you save otherwise will never be a bargain should you loose out in the long run. A contract entered into with materially fraudulent representations can be voidable by the company under some circumstances.

Table of Insurance Coverage Requirements, by State

Most states require that you have liability insurance. This covers you when you’re at fault in an accident. If you live in New Hampshire, South Carolina, Tennessee or Wisconsin, you aren’t required by law (yet) to have liability coverage. For the rest of us, the mandatory coverage varies according to state. In the chart below, minimum liability limits are read as follows (in thousands of dollars): bodily injury liability for one person in an accident/bodily injury liability for all people injured in an accident/property damage liability for one accident.

So, for Alabama, the minimum requirements are $20,000 of bodily injury liability for one person, $40,000 bodily injury liability for all people and $10,000 property damage liability.

StateRequired coverage typesUninsured/Under-insured Motorist Coverage Required?Minimum liability limitsNo fault?

Alabama
bodily injury and property damage liabilityNo20/40/10no
Alaska
bodily injury and property damage liabilityNo50/100/25no
Arizona
bodily injury and property damage liabilityNo15/30/10no
Arkansas
bodily injury and property damage liabilityNo25/50/25no
California
bodily injury and property damage liabilityNo15/30/5no
Colorado
bodily injury and property damage liabilityNo25/50/15yes
Connecticut
bodily injury and property damage liability, uninsured motoristYes20/40/10no
Delaware
bodily injury and property damage liability, personal injury protectionNo15/30/10no
DC
bodily injury and property damage liability, uninsured motoristYes25/50/10yes
Florida
BI liability not required, only property damage liability, personal injury protectionNo10/20/10yes
Georgia
bodily injury and property damage liabilityNo25/50/25no
Hawaii
bodily injury and property damage liability, personal injury protectionNo20/40/10yes
Idaho
bodily injury and property damage liabilityNo25/50/15no
Illinois
bodily injury and property damage liability, uninsured motoristYes20/40/15no
Indiana
bodily injury and property damage liabilityNo25/50/10no
Iowa
bodily injury and property damage liabilityNo20/40/15no
Kansas
bodily injury and property damage liability, personal injury protectionYes25/50/10yes
Kentucky
bodily injury and property damage liability, personal injury protectionNo25/50/10yes
Louisiana
bodily injury and property damage liabilityNo10/20/10no
Maine
bodily injury and property damage liability, uninsured motoristYes50/100/25no
Maryland
bodily injury and property damage liability, uninsured and underinsured motoristYes20/40/15no
Massachusetts
bodily injury and property damage liability, personal injury protection, uninsured motoristYes20/40/5yes
Michigan
bodily injury and property damage liability, personal injury protectionNo20/40/10yes
Minnesota
bodily injury and property damage liability, personal injury protection, uninsured and underinsured motoristYes30/60/10yes
Mississippi
bodily injury and property damage liabilityNo10/20/5no
Missouri
bodily injury and property damage liability, uninsured motoristYes25/50/10no
Montana
bodily injury and property damage liabilityNo25/50/10no
Nebraska
bodily injury and property damage liability, uninsured and underinsured motoristNo25/50/25no
Nevada
bodily injury and property damage liabilityNo15/30/10no
New Hampshire
Insurance not required; proof of financial responsibility, medical payments, uninsured motoristYes25/50/25no
New Jersey
bodily injury and property damage liability, personal injury protection, uninsured motoristNo15/30/5yes
New Mexico
bodily injury and property damage liabilityNo25/50/10no
New York
bodily injury and property damage liability, uninsured motorist, personal injury protectionYes25/50/10yes
North Carolina
bodily injury and property damage liabilityNo30/60/25no
North Dakota
bodily injury and property damage liability, personal injury protection, uninsured and underinsured motoristYes25/50/25yes
Ohio
bodily injury and property damage liabilityNo12.5/25/7.5no
Oklahoma
bodily injury and property damage liabilityNo10/20/10no
Oregon
bodily injury and property damage liability, personal injury protection, uninsured and underinsured motoristYes25/50/10no
Pennsylvania
bodily injury and property damage liability, medical paymentsNo15/30/5yes
Rhode Island
bodily injury and property damage liabilityYes25/50/25no
South Carolina
bodily injury and property damage liability, uninsured motoristYes15/30/10no
South Dakota
bodily injury and property damage liability, uninsured motoristYes25/50/25no
Tennessee
Insurance not required; proof of financial responsibilityNo25/50/10no
Texas
bodily injury and property damage liabilityNo20/40/15no
Utah
bodily injury and property damage liability, personal injury protection, uninsured and underinsured motoristNo25/50/15yes
Vermont
bodily injury and property damage liability, uninsured motoristYes25/50/10no
Virginia
bodily injury and property damage liability, uninsured and underinsured motoristYes25/50/20no
Washington
bodily injury and property damage liabilityNo25/50/10no
West Virginia
bodily injury and property damage liability, uninsured motoristYes20/40/10no
Wisconsin
Insurance not required; proof of financial responsibility, uninsured motoristYes25/50/10no
Wyoming
bodily injury and property damage liabilityNo25/50/20no

Think About it: You Need to Buy Insurance to Protect Yourself, Passengers, and Family Members by Purchasing Underinsured Motorist Coverage (part 4 of 4)

Be Honest

Table of Insurance Coverage Requirements, by State

So, for Alabama, the minimum requirements are $20,000 of bodily injury liability for one person, $40,000 bodily injury liability for all people and $10,000 property damage liability.

StateRequired coverage typesUninsured/Under-insured Motorist Coverage Required?Minimum liability limitsNo fault?

ABOUT THE AUTHOR

Jeanine Steele is an editor with SettlementCentral.Com, the online resource for self-help do-it-yourself personal injury claims.

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