Tips on How to Choose an Auto Insurance Company that Fits my Budget

Auto insurance can use up a significant amount of your monthly budget, especially if costs are notoriously high in your area. However, there are many ways to adjust the cost of your policy and save money. They often just require a little bit of your time and attention when you are setting up or renewing your policy.

Gather Quotes From Several Companies

The most important thing to remember is that not all auto insurance companies calculate their premiums the same way. You should compare quotes from different companies and choose the one that best meets your needs at the lowest cost. This may or may not be the same company that had the lowest cost for other people you know because everybody’s cars, driving history, insurance needs, and other factors are different. You can search online for quotes, contact companies directly, or use an independent agent to get quotes for you.

Compare Apples to Apples

When you compare quotes, you want to make sure you’re looking at the same policy at each company. If you have different coverage options selected, then this could be what is affecting the cost. Once you’re looking at identical policies, you can accurately compare costs and choose the company that best fits your budget. Repeat this comparison when it’s time to renew your policy, or at least every time you add or remove a vehicle or driver, which are factors that usually have significant effects.

Discounts Can Significantly Affect Cost

You should also pay attention to adding discounts to your policy. Each company offers a different set of discounts, although many of them overlap. You may get accident-free discounts, good student discounts, low mileage discounts, and others. Insurance companies may offer you perks as you stay with them for several years, like lower deductibles or a percentage discount for loyal customers. Some companies even let you plug a small device into your car to monitor your driving habits and offer discounts if you’re a low risk driver based on the times of day you drive and other factors.

The Basic Types of Auto Insurance Coverage Options Explained

When you’re purchasing an auto insurance policy, it’s helpful to first understand what basic types of coverage are available to you. Once they have been explained to you, you will be better able to pick the most helpful options, while saving money by foregoing options you don’t need. Here is a basic explanation of the major parts of an auto insurance policy.

Liability Coverage

The main type of auto insurance required in most states is liability coverage. This never pays for damages to you or your vehicle, but instead is designed to pay for any damages to other people and property for which you are deemed liable. It is broken down into property damage liability and bodily injury liability. Your insurance company will pay claims up to the maximum amount of coverage you purchased, after which point the other party could come after you for additional money if the damages have still not been fully paid for. Because injuries can be so costly, you should typically get more than the minimum required liability insurance unless you have absolutely no assets to protect.

Comprehensive and Collision Coverage

This type of coverage is designed to pay for repairs to your vehicle. Comprehensive coverage is for damages not related to a collision, like theft or a tree falling on your car. Collision coverage is for accidents, whether you were hit in a parking lot, you ran into a pole, or you collided with another vehicle. With both of these types, you have to pay the deductible you selected before your auto insurance company steps in to pay for the rest of the repairs.

Other Coverage Options

Some states require that you purchase PIP (personal injury protection) or medical payments coverage, which pays for medical and related costs of you and your passengers, regardless of which driver is at fault. You also may purchase uninsured and underinsured motorist coverage that will apply if the other driver is at fault but does not have adequate insurance to pay your claims. You can also choose optional types of coverage like rental car insurance and gap insurance.

Auto Insurance Claims: Items you Need when You Make a Claim

Although no one ever wants to be in an automobile accident, the reason you have auto insurance is so you are protected if it ever happens. Making sure you have the best policy for your situation is also important. If you have a new car, with or without a lien holder, you should make sure you have comprehensive coverage. Even the smallest fender bender could make a mess of your car and you will want to fix your ride as soon as possible.

The first thing needed when making an auto insurance claim is the information about both parties involved. If you were at fault in an accident, you will need not only your own information, but also that of the other party. Make sure you have your insurance policy number available and the make, model and year of the vehicle. Of course before exchanging information, if there are injuries, call 911 and report the accident.

The next item you may need when making an insurance claim is the police report. Often, the insurance company will want official documentation about the accident, the people involved, who was at fault and if there were any witnesses. Usually this is important if the claim is large and there is personal injury involved. If the accident was small and the claim will be less than $500, the insurance company may not require as much information.

If the damage was only to your vehicle, the insurance company will want to send an adjuster to look at the car. You may also need to take the auto and get 2-3 estimates to fix the damage. Insurance companies are not just going to take your word for how much the damage will cost to fix. Depending on the company, they may ask you to see one of their own repair shops.

Finally, although there are many items needed when filing a claim with your auto insurance company, once your vehicle is repaired it will be worth the time and trouble. When working with a great insurance company, you will not need to worry about long delays or bad customer service. When you are comparing quotes for the best plans, take all of this into consideration and find an insurance company that will be there when you need it.

Will My Auto Insurance Pay for an Item Stolen Out of My Car?

My Auto Insurance Pay for an Item Stolen Out of My Car.Your auto insurance company will pay for damage done to your car and will also pay if your entire car is stolen, but what if a few important items were stolen from the car while in the parking lot of the mall or another public area? This is a common concern for many drivers because some cars hold items of especially high value that would be devastating to lose completely due to theft. This could include a top notch sound system, expensive electronics, multiple shopping bags, wallets, and so on.

Unfortunately, most insurance plans are not designed to cover the cost of stolen personal property in most circumstances. Your best bet is to avoid leaving valuable items in your car, or hiding them from view when you leave the car to prevent the appeal for theft. Additionally, make sure to always roll up the windows and lock your doors when leaving the car to prevent the likelihood of theft. If theft is an especially serious concern, you might want to consider installing a car alarm system to add extra security to your vehicle.

Although this isn’t the best news for drivers, you may still be in luck if you own a homeowners insurance policy. Most standard homeowner’s insurance policies will, in fact, cover almost all of your personal property. Your personal property would naturally include your car, boat, hotel room, and other places where you could be at risk for theft.

Although this is good news for most drivers, it’s important to weigh the pros and cons. The deductible for most homeowner’s insurance policies is relatively high, which means that you will want to take this cost into consideration with the cost you would have to pay to replace an item that was stolen out of your vehicle. If the cost for the deductible is significantly higher, it may be in your best interest to forego the homeowner’s insurance policy and practice cautionary measures on your own to prevent theft.

Women – Avail Discounts On Your Driving

Avail That Discounts on Your DrivingIt’s a very well known fact about women that they get cheaper car insurance. To obtain best deals on their car insurance, they should approach the right insurance company, if they reach for regular insurance then they might end up with a bad deal over their car insurance. In fact, you will find so many insurance companies in the market who are ready to provide the best deal available and help with specialized auto insurance for women. These companies have certain coverages specific to women drivers with extra benefits. If their vehicle or items in it is been stolen, auto insurance for women will recover it.

Know More About Discounts

First step to avail discounts is approaching the right insurance company which gives cheaper rates on car insurance policy for women. A clean driving record, some or zero violations and tickets would be an added advantage and go for good records in availing discounts on their policy. Also, have your vehicle equipped with safety devices such as alarm systems, anti-lock brakes, anti-theft, airbags, seat belts and more which contributes in availing cheaper car insurance rates. Gain that sufficient to enroll in defensive driving courses, learn traffic regulations and improve your driving skills which obtains that required discount. A certification which guarantees that you cleared the course is highly valued and thus reduces your car insurance premium rates.

If you are a mother, it is taken into consideration by an auto insurance company as you will be more careful while driving along with kids and tend to have less risk and hence minor or no accidents. Car insurance companies offer discounts when found that you are a good driver, excellent student at academics, a non-smoker, or a good student. Even when you own multiple policies with one insurance company or have multiple cars, you still get those discounts for it. Auto insurance companies also take into consideration mothers on the road. It is always advisable to compare rates and obtain the best offers which are destined to you.

Myths Versus Truths of Comparing Insurance Quotes

Ward Off The MythsLet’s face it: Comparing insurance quotes isn’t something many of us do every day. So when it’s time to buy car insurance for your new car or because you need to make changes to your coverage and want to see if there’s a better deal out there than your current auto insurance company offers, it’s good to know what’s true and what’s not about comparing insurance quotes. Read on to find out the truth behind the following statements:

All major insurance companies offer more or less the same rates and coverage, so comparing insurance is a waste of time. This is a myth. Though the major insurance companies offer the same types of coverage and terms and conditions, special offers and discounts vary, so it’s always a good idea to shop around before you buy car insurance.

You get the best deals through the insurance company itself. This is a myth. A lot of insurance companies offer low rates online, but often, they offer even lower rates through online comparison sites like AgentInsure.

If I buy insurance online, I can’t ask any questions about my policy.This is a myth, as all insurance quotes contain the phone number of an insurance agent who is trained to answer your questions.

An insurance quote is not binding. This is true. Quotes are an estimate of the rates you’d pay for a policy that meets your requirements and aren’t legally binding.

My credit score affects my car insurance rates. This is true; in all but three states, insurers consider your credit score when determining rates.

What Do Insurance Providers Look For In Drivers

Checklist Expectations

When a person is in the market for Texas car insurance, a good record goes a long way and will affect your future. Here are some tips to consider when wanting to know what vehicle providers study to determine your premium for the year. A person may be surprised by what they find.

  • Your age maybe a factor. Young adults will not be able to save as much money. The older population is considered to have more experience and is rewarded for their safer driving habits. Young drivers can compare prices of Texas insurance companies for the best rates.
  • Providers look at one’s occupation. If driving is a major part of work, the person will be a higher risk when they are in the market for basic car insurance in Texas.
  • A bad credit rating can affect a person’s premiums so check your credit reports annually. A good Texas insurance agent will help you find the best coverage.
  • What kind of car do you drive? It will matter when you buy Texas Auto insurance. Choose a car that is less sporty to be considered less of a liability for an auto insurance company. Some colors will even increase the insurance.
  • Geography plays an important role that will affect your Texas car insurance coverage. If you are in a major city that is congested, premiums will be higher than in a rural town.
  • How many accidents have you had in the past 3-5 years? If you have had a good number of citations or accidents, you are higher risk for auto insurance companies!

Insurance providers will collect records from the Department of Motor Vehicles in every state you have lived to determine your Texas car insurance rates. Providers look at your credit records, and any other public information to determine what to charge you so be sure to keep your records clean.

New Technology Gives Promise to Car Insurance Savings

New Technology Promises Car Insurance Savings

Progressive is the new Big Brother in Auto InsuranceMarch 15, 2011 – Would you allow your auto insurance company to track your driving habits for 30 days if it meant you could save more than 30% on your auto insurance? Progressive Car Insurance is expecting that many people are interested in this option and subsequently have developed their Snapshot Discount PAYD (Pay-As-You-Drive) Program.

The PAYD program works like this; a technological device, called a “Snapshot” is sent to the insured and they connect the device to the onboard diagnostic system of their vehicle. According to Progressive’s website, the Snapshot device monitors “driving patterns based on number of miles you drive, time of day you drive and how often you make sudden stops. People who drive less, in safer ways and during safer times of day could get a discount.” The device also captures vehicle speed, VIN number of the vehicle, and whether or not the device has been disconnected from the vehicle. Reportedly, it does not have a GPS monitoring capability nor does it capture whether or not you are exceeding the posted speed limit.

Progressive began a national advertising campaign for Snapshot Discount program on Monday. The program is currently available in 32 states; Alabama, Arizona, Colorado, Connecticut, Florida, Georgia, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Montana, Minnesota, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New York, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Texas, Utah, Vermont, Virginia and Wisconsin. Progressive Insurance indicates that this will be rolled out to additional states throughout 2011.

We want to know what you think; does this technology provide a great way to lower your car insurance rates or does this border on feeling too much like Big Brother? Leave your comments below.

This is a re-post of an article seen on AgentInsure Insurance Tips

Insurance Discounts

Discounts will be applicable on your home insurance if you have installed protective devices like, fire detectors, smoke detectors, sprinklers, and a burglar alarm.

Save Money with AgentInsureThe number of people residing in your home also matters. You may also be eligible for a discount if you are associated with an insurance company for a longer term.

While taking a quote for any insurance company, be sure to check if the home insurance and auto insurance company provides these discounts. AgentInsure lists quotes from multiple carriers, allowing you to find the best rate for your needs. We also put you in touch with a local agent that can help you find discounts.