Car Insurance News

Save Money on Car Insurance

Administrator — Wed, 10 Mar 2010 10:00:55 +0000

Your vehicle is one of the most important and expensive investment you will make in your life. In order to get the best protection for your investment in case of accidents and to make sure that you are financial secured against unforeseen liabilities, here are some Car Insurance Basics to help you the best coverage for your money:
1.Compare not only the prices but the company as well - this is probably the first and most important step of all. Remember, you have to know how dependable the insurance provider is, after all, they will be providing your protection. Make a smart decision not only based on prices but also how effective the company is when it comes to enforcing its policies.
2.What is the real market value of your car – usually, claims are paid based on the actual value of the vehicle. If you own an older car, it may be wiser to get a new car than spend more on premium payments for your depreciated car.
3.Deductibles matter – for example, if you raise deductible from $200 to $500, the cost of premium for Collision and Comprehensive will go down about 15% to 30%.
4.Examine your coverage – sometimes we tend to over compensate and get additional coverage that we really do not need. Premiums are based on what your policy covers so it is not wise to have reimbursement for rentals when you do not rent a car that often.
5.Always keep your coverage updated - always updated your provider with anything that is happening in relation with your car. It may help you to get a lower risk classification on your renewal.

4 more ways to cut the cost of your car insurance

Administrator — Wed, 10 Feb 2010 03:03:27 +0000

There are several factors that can affect the premiums that you have to pay.

The type of vehicle you drive – the more complex the car, the more expensive the charge for the repair.

Location – if you live in the wrong area, you insurance premium can suffer.

Car security – having a car alarm and other security devices in your car can lower down the premium.

Your excess – the more you get additional coverage, the lower your premium.

Cost of Car Insurance Coverage for Teenagers

Administrator — Sun, 10 Jan 2010 10:00:46 +0000

Anything that is associated with a teenager is usually expensive like clothes, jewelries, allowances, gadgets and other stuffs. Providing your teenager with an auto insurance coverage is no different. There is a need to keep them safe while on the road especially with the rising incidence of drunk driving accidents. The life of your teenager is of course priceless hence can never compare to the amount you have to pay as premium for their insurance coverage.

Teenagers are considered a high risk group because of the different misdemeanor that they usually get involved with. Helping your teenager to become a responsible driver is very important not only for his safety but to help you lower the premiums on the car insurance coverage. As a parent, you need to lead by example and show your teenager how to be a responsible driver, otherwise he will adopt whatever driving habits he forms while on the road.

Teenage Trouble

editor — Wed, 23 Dec 2009 14:26:04 +0000

Being a teenager increases your risk on the road. According to studies conducted by insurance companies and government agencies, teen drivers are prone to crash because of their rebellious and thrill-seeking nature: 34% of deaths from car crashes come from speeding, 33% comes for failure to use seatbelts, and 12% from drugs and alcohol. Nationwide, boys are twice as likely as girls to be the driver in a car that would crash and in metropolitan areas, car crashes are twice more likely than in rural areas. To address this, there are training programs to educate teenagers on driving safety and usually these are extended to ensure maximum learning.

Switching insurers? Don’t forget to cancel your policy!

editor — Mon, 30 Nov 2009 01:31:47 +0000

If you no longer want a car insurance or you want to avail from another company, don’t just ignore the bills. You will receive another bill for the next premium payment because the company still considers you as a member. But when you don’t pay this time, your account will be cancelled but the bad thing is this: this would go to your credit record and influence the rates of your next insurance payments. This is why you have to call the insurance agent or the company if you would like to cancel your policy. Give details and prove that you have new coverage from a different company.

Car Insurance Tips

editor — Sun, 25 Oct 2009 05:17:34 +0000

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.

Bikers, Say Hello to LoJack

editor — Wed, 30 Sep 2009 07:49:49 +0000

Motorcycle riders can protect their bikes for a more affordable price. They can get a $50 rebate from LoJack on the purchase of their LoJack for Motorcycles Stolen Vehicle Recovery System. This system includes a silent radio transceiver. If a theft is reported to police, LoJack is activated. It sends a signal that police can follow.

They can visit www.motorcycle.progressive.com to download the online rebate form. Progressive customers who have LoJack installed on their bikes will receive a 20 percent discount on their Comprehensive Coverage. The LoJack product and the rebate is available in all 26 states and district of Columbia.

Source

CNinsure Partners With Shangdong Xin Guang Yuan

editor — Mon, 31 Aug 2009 20:56:02 +0000

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.

Non-OEM parts and insurance.

editor — Mon, 20 Jul 2009 09:15:42 +0000

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

The Top 5 Factors that Determine your Car Insurance (Part 2 of 2)

Administrator — Mon, 22 Jun 2009 10:00:05 +0000

Continued from The Top 5 Factors that Determine your Car Insurance

Type of Vehicle – we would all love to cruise around on a Pontiac Solstice or Porsche Boxter but you won’t believe the kind of rates these kinds of cars get. If you want lower premiums, get a car with a lower price.
Driving Violations – this is another thing you can certainly control. While it may be so tempting to race around town upon getting your license, a police ticket is not worth it. It may be a single ticket, but it can do wonders to your insurance premiums as insurance companies keep track of your driving record.