Car Insurance News

CNinsure, an independent brokerage company and insurance agency located in China, will be establishing a joint venture with Shandong Xin Guang Yuan Automobile Club Co, Ltd. setting up Fanhua-Xin GuangYuan Insurance Agency Co., Ltd. in Shandong Province. The said project is expected to take effect by the second quarter of 2008 after finalizing all the transactions conditions needed. The joint venture will focus on auto insurance distribution. 51% of the new insurance company will be owned by CNinsure and the remaining 49% will be owned by Shangdong Xin Guang Yuan. The combination of both companies which were both leaders in their industries is sure to be a hit.

by: Christine Zafra

OEM, or original equipment manufacturer are those car parts that are generic in nature. They don’t come from the companies where you bought your car. The truth is, generic parts are cheaper and have the same quality like those coming from the manufacturer’s factory. Some insurance companies also prefer generic parts for their cheaper price.

Yes, car insurances accept non-original equipment manufactures, but only some. The hazy things written upon your policies should be read and reviewed many times over and over again. Some might be just tricky and let you end up with nothing. Ask the brokers what they in store for you.

Photo taken from http://www.fondahonda.com

Another Question is Why premiums are high for these vehicles?
A continuation of the news about The Most Expensive Autos to Insure in 2008 among Top Sellers

Your own premiums are calculated using sophisticated tables combining your personal factors plus the “loss experience” of the vehicles. That means that you could be the best driver in the world, but if other drivers of your car model are regularly crashing their cars, that car is going to be more expensive to insure.

Insurance loss histories compiled by industry groups and insurers are used to judge the level of claims a vehicle will incur for collision damage, medical bills, theft and other factors.

Source

Choosing a new car is a tough decision. There are many factors to consider. The size and performance are just a few and of course the appearance. It may be elegant and stylish but one should consider also if it will cost a more expensive coverage. Just recently, people from www.msn.co.uk had a study on the car buying habits of women. And this issue made quite a steer among car loving women from CoverGirl. And the list of the MSN top ten cars loved by women includes Volkswagen Golf, Renault Clio, MGTF, Audi TT, Jaguar XKR Convertible, Mini, Volkswagen Beetle and Mazda MX-5

The Question now is Why Premiums are Lower for these Vehicles?
Continued from the Previous News about The 10 least Expensive Autos to Insure in 2008 Among Top Sellers
Your own premiums are calculated using sophisticated tables combining your personal factors plus the “loss experience” of the vehicles. That means that the owners of some vehicles end up with far fewer or far less expensive insurance claims than others. This “loss history” is used to price other policies and helps keep your premium in check.

For example, if your car model isn’t stolen much, your comprehensive premiums may be comparatively lower. If repair costs are low for your vehicle, collision coverage may be lower.

SO, you have a very flashy car and you want to get an insurance for that? Why don’t check insure.com’s list to find out how much will your car insurance cost?

Model : Dodge Ram pickup
Average premium : $1,336
Sales ranking : 5

Model : Chevy Silverado-C/K pickup
Average premium : $1,280
Sales ranking : 2

Model : Toyota Prius
Average premium : $1,210
Sales ranking : 16

Model : Honda Accord
Average premium : $1,203
Sales ranking : 6

Model : Nissan Altima
Average premium : $1,198
Sales ranking : 9

Model : Toyota Corolla
Average premium : $1,190
Sales ranking : 4

Model : Ford Focus
Average premium : $1,185
Sales ranking : 15

Model : Chevrolet Cobalt
Average premium : $1,179
Sales ranking : 14

Model : Honda CR-V
Average premium : $1,178
Sales ranking : 11

Model : Dodge Caravan
Average premium : $1,165
Sales ranking : 10

Photo taken from http://2make-money.biz

If you’ve got a Ford or a Chevy but fear that the insurance of it is way too high, worry not. In fact, there are some top selling cars that have low insurance rates. Oh yes. Curious? Maybe you can check if your car is included in the list.

Model : Chrysler Town & Country
Average premium : $940
Sales ranking : 19

Model : Ford Escape
Average premium : $1,022
Sales ranking : 17

Model : GMC Sierra pickup
Average premium : $1,026
Sales ranking : 12

Model : Chevrolet Impala
Average premium : $1,091
Sales ranking : 7

Model : Ford Econoline Club Wagon
Average premium : $1,119
Sales ranking : 13

Model : Ford Fusion
Average premium : $1,133
Sales ranking : 20

Model : Ford F-series pickup
Average premium : $1,156
Sales ranking : 1

Model : Honda Civic
Average premium : $1,163
Sales ranking : 8

Model : Toyota Camry
Average premium : $1,165
Sales ranking : 3

Model : Toyota RAV-4
Average premium : $1,165
Sales ranking : 18

Photo taken from http://www.astoriafederal.com

Source

Insurance is a contract executed between the insurance provider and the policyholder. Money is exchanged for services to be delivered in events that are stipulated in the contract or policy issued by the insurance provider. Many times, there are misunderstandings that arise especially in filing for claims or services promised during the purchase of the insurance.

The government because of the nature of the insurance industry always has a regulating body that insures both parties, the insurer and the insured, get mutual protection from the law. Regulation of the industry means that every policyholder can be sure that at the time when they need to claim the services stipulated in the insurance policy, the insurance provider can and will deliver the services.