Should I have Full Coverage on my Older Vehicle

Should I have Full Coverage on my Older VehicleChoosing the best type of car insurance for your vehicle will take a little bit of time and effort. There are many things you need to take into consideration before choosing a policy. Many people wonder if it is worth it to carry full coverage on an older vehicle. Before you say no – think about these options.

If you borrowed money from a bank or other lender to purchase the older car – you will probably be required to carry full coverage. Depending on the value of your vehicle, the lender will want to make sure they will get their money back if you are involved in an accident before your loan is paid off. Although, if you bought your car with cash, you will be able to save a significant amount of money if you only purchase liability insurance.

A second consideration is the value of the older car. Some sports cars or luxury vehicles retain their value even after they are several years old. When thinking about full coverage – you will need to realize that the insurance company will only compensate you for the value of your vehicle. If the car is still worth a lot of money – you can expect to get some money back if your car is totaled in an accident. Although, if you car has seen better days, you probably will not get any money from the insurance company, even if you have full coverage.

Finally, if you own an antique or specialty vehicle – you may want to carry full coverage. Whether you only take the car out on special occasions or to car shows – there is no guarantee you will not get into an accident. It is better to be safe than sorry. If you are still confused about whether you need full coverage for an older vehicle, speak with an independent agent who can help you decide how much coverage you need.

What Are the State Minimum Liability Limits?

What Are the State Minimum Liability Limits?Every state in the U.S. imposes minimum liability insurance requirements on its drivers. Although the amounts vary from state to state, they all serve the same intended purpose: To financially protect other drivers against bodily injury and property damage incurred in an accident for which they are not at fault.

The minimum amount of auto insurance you must personally carry depends solely on the state in which you live and drive. For example, New Jersey, California, Delaware, Pennsylvania and Massachusetts all have very low property damage liability limits. In those states, you only need $5,000 of coverage for the damage you cause to another person’s vehicle or property. Many other states, however, such as Mississippi, Alaska and Maine, require a minimum of $25,000 of liability coverage for property damage.

State minimum bodily injury limits are typically higher and divided into two categories – the amount an insurer will pay for one person injured in an accident and the total amount an insurer will pay for all people injured in an accident. If you are in Oklahoma, Florida or Louisiana, you are only required to carry $10,000 per person, per wreck with a maximum of $20,000 per accident. Alaska residents, on the other hand, are on the hook for a bare minimum of $50,000 per person with a maximum of $100,000 per accident.

Driving Without State Minimum Coverage

If you choose to drive uninsured or underinsured, you could be facing serious consequences. The laws vary by state, but in some places, you could lose your license for as much as a year or have your vehicle impounded for driving without state minimum coverage. That is in addition to the fines, penalties and court fees you are almost certain to have to pay. Additionally, the offense could go on your permanent driving record for potential employers to see.

Considerations

Keep in mind that just because you have met your state’s minimum liability limits, it doesn’t necessarily mean you have enough auto liability insurance. Some states have notoriously low minimum insurance limits that wouldn’t even pay for half of the damage to a new vehicle. Others may have adequate liability limits for the average driver, but not enough to protect the assets of someone with a lot of savings, investments or property to lose.

You should speak with your insurance agent to determine how much coverage you personally need in the event of an accident. Remember, just because you max out your auto insurance benefits, it doesn’t mean you are not still liable for the damages or losses you cause another driver or passenger.

Excluding Someone From Your Insurance Policy

Excluding Someone From Your Insurance PolicyIn instances where a driver under your insurance policy has gotten into multiple auto accidents and received several traffic tickets, it may be in your best interest to exclude this person from your auto insurance policy. Any traffic violations that occur under your insurance policy, whether a fault of your own or another driver, will negatively affect your insurance rates and cause your premiums to increase dramatically. In order to exclude a driver from your insurance policy, you will have to deliver a written “named driver exclusion” to your insurance carrier to specify exactly which driver you would like to be excluded from your insurance policy. Once this person is excluded from your policy, he or she will not be covered under your personal auto policy for future accidents.

Although a driver may be excluded from your policy, you or the excluded driver will still be responsible for any damages or injuries that may result from an auto accident in which the excluded driver is at fault. However, you will only be personally responsible if the excluded driver was driving your vehicle at the time, regardless of whether or not he or she was covered under your insurance policy at the time of the accident. For this reason, you will want to exclude an at-risk driver as soon as possible, and make sure to terminate this person’s access to your vehicle after you have excluded him or her.

Your insurance company may recommend excluding a driver from your coverage policy if this person is responsible for any of the following:

  • Multiple vehicle citations
  • A suspended license
  • Several at-fault accidents
  • A DUI or DWI conviction
  • Impaired mental ability

If your own record is relatively clean, having someone on your policy who has any of the violations listed could cause you to pay higher insurance premiums that you otherwise wouldn’t have to pay. Excluding this person from your policy would allow you to enjoy all of the benefits that you earned as a good driver, while eliminating and negative affects that this driver has caused.

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.

Sleeping Behind The Wheel

Sleeping behind the wheelWith many accidents occurring on Missouri roads, majorly due to intoxicated drivers by either drugs or alcohol. Remember that accidents occur even when the driver is under the influence of sleep. As per the survey conducted, one in five fatal accidents involve a drowsy driver. Many organizations are promoting awareness to avoid such incidents. Accidents occurring due to drowsy driving had 12% of drivers being hospitalized and 8% where a vehicle was towed. Survey also found that the rate of drowsy driving accidents involved more of men than women. Specially the younger drivers below the age of 24 than any other age group.

Realization!

Before getting behind the wheels, realize if you are feeling drowsy. You may feel too sleepy if you find very difficult to keep your heavy eyes open while driving. You will be struggling to drive on one lane or drifting over rumble strips on highway. It is surely confirm that you are drowsy when you cannot remember the few miles driven. Before getting behind the wheels, you as a driver need to ensure few things in order to avoid accidents.

If you are feeling drowsy, immediately pull over to freshen up and then start. Before any road trip make sure you hadenough sleep, say minimum of 7 hours specially if it is a long journey. Drinking hot beverages such as coffee or tea helps some drivers to keep them active. Ensure not to travel alone, if you find to feel drowsy and let the other passenger be alert. Do take a break for every 2 hours or 100 miles when on long way. Try not to drive much during night times or when you are feeling asleep. Remember, a claim free and violation free driver will always qualify for discounts and thus a lower premium rate.

Unused Car and Its Auto Insurance

Unused Car and Its Auto InsuranceWith cars in garage which are not being used, you still have to buy a car insurance for them. It can be a vehicle which once used by your teen when in college or a sports car which is occasionally used or a vehicle being damaged awaiting repair. All these will need a car insurance and yes you need to know how to minimize your premium rates on them.

Requirements!

Every state demands its driver to own an insurance with minimum liability requirements. If you want to escape, there are verification programs which will detect that your car is not insured and hence a heavy fine. Your state will decide your policy minimum limits on bodily injury and property damage. For example, Minnesota requires you to buy 30/60/10 coverage ($30,000 per person, $60,000 per accident and $10,000 for property damage) With high limits, it will be higher premium. However, with no fault insurance states, it works differently. The driver has to claim under his own policy and not under the other driver’s policy. This happens through Personal Injury Protection, which covers injuries.

Want to Cut The Cost ?

Even if the state mandates some coverages, there are ways in which you can bring down the costs. Consider collision and comprehensive coverages. Collision works when your car collides with another car or an object. Comprehensive works when your car is hit by perils. However, if the car is unused for a long time then these coverages will not be worth having and will just be waste of your money. Your car price also matters in buying these deductibles. A car of high value will have a benefit when any collision occurs than a car of lesser value.

An option which is becoming popular is “Pay as you drive”. You will be paying premium only for the miles driven. It is a special reward for those vehicles which are unused are not being used frequently. This definitely puts your car insurance premium to lower rate.

Getting Old to Get On the Roads?

Getting  Old to get on RoadsDriving all by themselves is a privilege and a mark of independence for Americans. Older parents will not be happy over giving their car keys and rely upon others to commute. Family members may keep them away from driving, fearing an accident or crash but parents often become reluctant with the interference of their children.

Older Drivers on Road

As per the survey conducted by Federal Highway Administration, there will be about 21 million drivers who are licensed yet old in United States. However, old is not defined by age. Drivers of age 60 can also become too old to drive on North Dakota roads. There can be certain physical limitations in every person getting old which makes driving difficult. But few senior citizens will be capable enough to drive even at their 80s and 90s. A survey by Insurance Institute for Highway Safety said that older drivers have become very cautious with their driving. They are driving more carefully and hence less number of accidents or collisions involving them. Count on fatal accidents have gradually reduced when compared to the earlier survey made.

Warning Signals

As per the National Safety Commission, there are certain signs which can be followed by the loved ones of old people in order to gauge their driving ability:

  • They are having trouble in paying attention to road signs and traffic signals.
  • If getting more tickets for violating traffic rules
  • Driving slow than the traffic flow
  • An increase in number of collisions or small crashes
  • Difficulty in navigation or remembering their destination
  • More number of dents on vehicle

Telling your beloved parent to stop getting behind the wheels all by themselves would be difficult. But you need to discuss their medical conditions with them which is troubling their drive. If convincing them becomes impossible then advice them to take the vehicle during day time and to travel short distances.

Check Whether You are Eligible for Discounts

Check Whether You are Eligible for DiscountsIn this fast moving world, you can also get your car insurance just by a click. You can save your money as well as your time. You can get a quote immediately from many insurance companies just by answering few questions. You can get car insurance  quotes in different ways. You can get multiple quotes at a time from many reliable companies so that you can compare them and purchase car insurance online.
You will be eligible for discounts if the number of miles driven is less, if the mileage is in between 1500 to 7500 miles then you will get discounts. The distance you travel qualifies for low mileage car insurance discount. This discount keeps varying depending on many factors. It depends on insurance provider and also upon each state. Few factors which you need to consider when you are searching for less mileage discounts are:

  • Senior Citizens– Seniors will usually be offered for less mileage discount for many reasons. Seniors will usually be retired or they will be working for less hours, hence they will be driving less. Though this is not the case always, seniors drive shorter distance when compared to young drivers, hence making them eligible for low mileage discount.
  • Driving less– If you change the job or the proximity to work, whether you use your car for personal use or work and if you increase the use of public transportation, all this affects for your mileage discount.
  • Car pooling or second car– If you use your vehicle as non primary vehicle then your insurance provider will offer you low mileage discount. If you own a second car you will not use that car much and that could be eligible for low mileage discount. Many insurance companies provide discount if you do car pooling as it will reduce the number of miles traveled.

Safe Driving tips for Older Drivers

Safe Driving tips for Older DriversDriving is one thing which even old people take as a challenge and drive. It is not enough if you just know the traffic laws and road signs; you should be very careful while driving the car. When you get older you will notice physical changes that makes you turn your head to look if there is any vehicle coming behind and even driving at night would be more challenging. Getting older does not mean that you should stop driving, you should be careful while driving. While buying a car people don’t bother about money and buy costly cars but they will be surprised when they have to pay monthly payments for their insurance premium.

  • Drive under optimal conditions : It would be safe if older people drive the car during day time, quiet roads, good weather and in the roads which they are familiar. Try to avoid rush traffic and plan your route. Drive slowly if the road is not clearly visible. Apart from road conditions, check whether your condition is safe to drive the car. Avoid driving the car if you are angry or tired and after drinking alcohol.
  • Plan ahead : Be prepared to drive as soon as you get inside the vehicle. Do not read a map while driving your car, plan the route you want to travel before only.
  • Being physically fit : Always stay physically active so that it improves your flexibility and strength and also helps you in driving while turning the steering. See to that you include physical activity in your daily routine.
  • Upgrade driving skills : Depending upon the insurance company you choose, you may even get discounts on your policy if you update your driving skills. Look for the courses through organizations that serve the adults.

Reasons Affecting Car Insurance Premium

  • Reasons Affecting Car InsuranceEducation Qualifications :
    While education may not make one a better or safer driver, it says a lot about what kind of person the applicant is. Education Qualifications and employment directly influence income, income affects lifestyle and lifestyle is a very important consideration for car insurance companies. Not only does lifestyle showcase the scale of living, it also influences the sort of money at one’s disposal. The kind of car or vehicle to be insured is one of the most important factors that influence how much you pay as premium. The costlier the vehicle, the more the car insurance will cost as the cost to repair a high end vehicle is a lot.
  • Credit details :
    The relationship one has with the bank says a lot about the person. The insurance company may ask to see bank documents. However, most of the time, the New Jersey car insurance company will run a background check on a person’s credit history. While most of these details may provide tangential information, not directly saying anything about a person’s character or driving technique, they do count to create an overall picture of the applicant. It might make some sense to manipulate your credit rating and maintain a decent credit history profile, considering this detail is scrutinized by insurance companies.
  • Use of the Vehicle :
    This is important to note. It should be obvious that the more a vehicle is used, the higher the chances of meeting with an accident. Even though a person may lead a high flying lifestyle and need to travel distances to work and back, he or she may have limited use for the vehicle. Several New Jersey car insurance companies provide transport to their officers. So a person possessing an expensive car may have one because he or she has the means to but may not get much use out of it. The insurance company may charge a lower premium in such cases and provide a policy that has limited coverage.