Car Insurance News

There is a heated debate in Georgia today, as Georgia Insurance Commissioner John Oxendine said he is considering the addition of fees on car and other forms of insurance to support trauma care services for car accident victims and others. According to an article in ajc.com, this is because the state is desperately in need of more funding for trauma care services. And Oxendine says it makes sense since most trauma cases are a result of car crashes and work accidents.

Moreover, this fee would not be specific to car insurance, but may also apply to health insurance and worker’s compensation. There is opposition, of course, since insurance industry advocates argue that this would raise the costs and premiums of their products, as well as add new and unfair taxes to the industry. Since such fees are normally passed on to the consumers, it would be a double whammy for responsible citizens who religiously pay their taxes and buy insurance.

Image Source:www.autoreviewonline.com

Do you have a classic car? If you have then you are surely well aware of the pride and happiness of having such a beautiful car. For many it is a thing to be envy of as the classic cars are quite expensive and attractive in look. That is why the risk of keeping it is also quite a lot. You never know when you have to face problems like theft or breakage of your car. To cope up with such problems get the classic car insurance that is implemented especially for these cars.

This insurance policy will allow you to insure your car based on its true value rather than stated value. You may find this insurance to be a bit costly. But you should remember this thing too that something costly can only safeguard your expensive car and in comparison to the value of your car, this is nothing.

In this car insurance policy you will not have to pay high premiums and the guidelines and procedures are quite flexible. Different types of coverage are being offered by these insurances. In this context, the actual cash value, state value and agreed value can be mentioned. The actual value gives you the book value of the car on a claim; state value allows you to state the value of the vehicle for coverage. In agreed value all your money will be back in the event of a total loss.

It is a fact that sports car insurance is more expensive than other auto insurances. Sports car insurance is determined by your car’s speed and resultant mobility on the road. Owning a sports car goes beyond customizing it and prepping it up to race. You have to be ready to actually pay for an insurance made for your kind of car.

How to reduce car premium
As insurance companies tend to charge higher premiums for sports car insurance, there are ways to lower it:
- Low mileages reduce significantly your premium. Thus, it is recommended to use your sports car only for short drives.
- Pay your insurance premiums in one installment as insurance companies charge more for monthly premiums.
- Don’t apply too much customization on your sports car because tweaking the stock features increases the premium.
- Don’t go beyond the speed limit. Speeding fines increase premium as insurance companies keep a record of this violation.

(To be continued)

Hi!, Welcome to carinsurancenews.net, your online source for anything that is related to cars and car insurances. Here, we give updates on the latest information about car insurance quotes as well as information on all types of insurance solutions for different makes and models of vehicles. Feel free to check frequently and fulfil your auto insurance queries.

An Overview

Getting a car insurance is somewhat tasking, especially because there are many insurance companies competing in the business. As with any other kind of insurances, there is a lot to consider upon getting one, not only the price. It is very important that you know the make of your vehicle, the kind of driver you are, and all the other things you are concerned of when it comes to cars and its ownership.
Short History
Trends in transportation gave way to the expansion and modification of insurances. The first automobile insurance in the United States was issued in 1897. By the 1920s, the mass production of the automobile created a significant necessity for automotive coverage. Over the years, cargo and passenger transportation—including electric railroads, interstate trucking, and airplanes—brought about the development of new forms of accident, theft, and shipping insurance.

(Further reading: Nielson, Norma. Insurance. Microsoft Encarta Encyclopedia, 2003.)

The following are helpful tips with regards car insurance:

• If our car is not worthy for the road anymore, like it had been in a serious car accident that it now ha bad break and poor coordination, then do not be shocked if your policy excludes the cover because it will cause denial of claim.
• If in any case you have nominated driver policy, the cover is extended only if other drivers in case of emergency have driven the car.
• Racing makes policies exclude the covers.
• You have to make sure that insurer is quite informed about the performance enhancing accessories.

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

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It is now a topic of discussion among car owners that there is discrimination happening among car insurance companies. Women’s car insurance has a tendency of being cheaper than those car insurance for men especially those for young women. The reason for this is that insurance companies believe that the driving habits of women are different from those of men’s. That is why they consider female drivers to be of lower risk. In general, women drive more carefully, slowly and cover only shorter distances compared to men so that their chance of getting involved in a major accident is lesser.

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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.

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