Car Auto Insurance » Automobile Insurance

What Is Meant By Automobile Insurance Standard Coverage?

admin — Wed, 28 Apr 2010 11:47:12 +0000

Automobile insurance standard coverage is the basic amount of insurance coverage that is required by law in order for an individual to legally operate a motorized vehicle. You can simply it even further with the blanket statement as being the mandatory amount of auto insurance coverage a driver must possess.

The most important part of anyone’s car insurance policy is the liability coverage. This coverage protects the consumer against the cost of damages and injury that is a direct result of that same consumer if they are the cause of a vehicular accident. For instance if you’re driving down the road and accidentally run into another person’s car this insurance coverage will pay for the damages that result due to the accident.

The liability coverage is further broken down into two subsections. The first is bodily injury liability. This covers and personal injury inflicted by yourself upon others during a car accident. The second subsection is property damage liability. As you may have guessed this is your insurance protection against any damage you cause to another individuals property, usually their car.

Although coverage amounts can vary it is generally suggested that a good baseline of automobile insurance standard coverage should be 100/300/100. This can be read as $100,000 worth of bodily injury caused to another person, $300,000 towards bodily injuries for everyone involved and $100,000 for property damage. With rising medical costs and outrageous car prices this would be the absolute minimum insurance protection I would personally carry in my automobile insurance standard coverage. However, each state is different and you will need to check to see what their car insurance laws constitute as a minimum coverage amount.

If you are in a financial crunch and need a way to save money on your insurance policy try to avoid retaining only the minimum amount of coverage required by your state. Instead try raising your deductible amount (the amount you pay first in the event of an accident before your insurance company kicks in with its payment). You will find that by raising the amount $500 or $750 will significantly lower the monthly costs of your automobile insurance standard coverage.

Two other policies that exist include the medical payments insurance which provides for the immediate treatment of injuries sustained during an auto accident. Anyone riding in your vehicle to include yourself is covered, regardless of who is at fault for the accident. The second policy is commonly known as PIP or personal injury protection, is similar to medical payments coverage, but usually provides broader coverage. Many PIP policies provide compensation for lost wages, funeral expenses, and pain and suffering. Again you will need to check with your state insurance laws for further clarification if you are required to have this additional coverage.

Finally as a safety measure against law breaking individuals who illegally drive without insurance there is uninsured motorist insurance when the other driver has no liability coverage and underinsured motorist coverage which pays for the cost of your injuries that exceed the other driver’s coverage maximum. As before with the PIP coverage you will need to make sure whether or not your particular state requires these forms of coverage as part of their automobile insurance standard coverage.

By: Tim Gorman

Facts About Insurance

admin — Mon, 12 Apr 2010 02:44:50 +0000

Insurance is a trillion dollar business that employs more than 2 million employees. Many insurance companies expect their employees to take continuing education courses to improve their people skills and their knowledge of the industry. The vast majority of policies are provided for individual members of very large classes. Automobile insurance, for example, covered about 175 million automobiles in the United States in 2004 industry.

Agencies and brokerages sell insurance policies for the carriers; the carriers assume the risk associated with annuities and insurance policies and assign premiums to be paid for the policies. Insurance premiums need to cover both the expected cost of losses, plus the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to reasonably assure that the insurer will be able to pay claims. The insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Insurance is an essential part of running any business.

Flood risk to 500,000 homes in the UK could become uninsurable unless flood protection work is stepped up, according to a warning today. The dramatic change in weather patterns all over the world has increased the cost of insurance dramatically leaving some home owners more at risk than ever before.

Insurance companies are paying out less in claims in relation to premiums collected than any time in the last 20 years, but most people would expect them to have paid more out. Gas prices are causing people to drive less, and driving less may lead to lower car insurance rates.

By: Richard Heap

Auto Insurance Claims: FORSE TO PAY Your Car Insurance Company!

admin — Wed, 23 Dec 2009 00:19:10 +0000

Whether you are dealing with auto insurance company in Washington or any other state there are some of the same concerns and with automobile insurance claims. Let’s take a look at a few tips for working with a claim:

1. Call your car insurance company as soon as possible. Most general automobile insurance companies want you to contact them within 48 hours. In fact, there can be a time limit requirement of 48 hours. This needs to be your very first priority after filling out the paper work wit the police.

2. This is a step that several people don’t do, but it is well worth your time to do it. Keep a journal. This might sound a little weird, but you never know how things will go. You will want to note what time you contacted your direct car insurance company and who you talked to and what was discussed. The first thing you will want to note is the documentation of the accident and keep all of the paper work from the road police and the other person.

3. Do all that you can to further the car insurance claims process. Make the phone calls, get quotes, shop around and get things moving so that you don’t have to out a car very long. It’s the saying of, “The squeaky wheel gets the attention.”

4. Remember to include in your claim everything in your loss estimates. If it is totaled then you will you might be entitled to the sales tax and registration fees.

5. Give the adjuster and local auto insurance company the benefit of the doubt, but stay on top of things.

Whether it is car auto insurance in Washington, Idaho or New York these tips will apply.

By: Willie James

More Motorists Expected to Drive Without Auto Insurance Policy

admin — Mon, 07 Dec 2009 23:20:16 +0000

Many believe that the unemployment rate and number of uninsured motorists have a strong correlation. “An increase in the number of uninsured motorists is an unfortunate consequence of the economic downturn and illustrates how virtually everyone is affected by recent economic developments,” said Elizabeth A. Sprinkel, senior vice president of the IRC. “Responsible drivers who purchase car insurance policy end up paying for injuries caused by uninsured drivers.”

Auto Insurance Coverage and Driving Licence

There are a lot of repercussions that motorists can be faced with if they operate a vehicle without an auto insurance policy and it looks as though penalties may get harsher. For example, one will see that the Pennsylvania Department of Transportation will suspend a vehicle’s registration for failure to maintain car auto insurance coverage and if caught driving without proof of a policy, a person may have their license suspended as well. Worse yet, if involved a road accident and found to be liable one would have to bear the expenses for the property damage and bodily injuries for themselves as well as any other parties involved.

Driving Without Car Insurance Policy. Why?

However, the reasons why many are not covered are understandable. Many believe that they simply can’t afford policies, while there are some who don’t take the time to compare auto insurance quotes among multiple companies in order to find affordable coverage.

By visiting special automobile insurance web-site consumers will have the ability to obtain the rates of various top notch insurers at a price that may fit their budget. Also available are helpful guides and tips that will assist consumers in getting the best deals possible and avoid taking the risk of driving uninsured.

By: Willie James

Auto Insurance Loss of Use: Is it Part of Automobile Policy?

admin — Mon, 23 Nov 2009 07:45:56 +0000

oss of Use Term in Auto Insurance?

One of the things that the consumers may not really contemplate, but do expect, is that their auto insurance will cover the cost of a replacement car when their automobile is being replaced. Many auto insurance policies actually do not provide for this automatically. If you are at all dependent upon your car, it is vital that you make sure that this type of coverage is included. Rental cars are not cheap!

How do you tell if you have this kind of auto insurance coverage for automobile or RV? First, you need to look at your car insurance policy. The language you are looking for refers to something called “loss of use.” What is loss of use coverage? As the name suggests, loss of use coverage refers to the expenses for transportation while your automobile is in being repaired or replaced. In more practical terms, this simply means that you have coverage for a rental car. Indeed, many people including those in the auto insurance business refer to this clause of the car rental coverage clause.

Buying loss of use auto insurance

Buying loss of use auto insurance with the car policy is definitely something you want to do. The idea of buying more car insurance coverages and auto insurance quotes probably is one of the least favorite things for most people. That being said, going for days without your car is far worse. Most of us drive to work and home. Most of us need our cars just to get around to find basic things like food. You really don’t realize how dependent you are on a car until you don’t have it. If you don’t believe me, try a simple little test. Lend your car to a friend one morning and tell them not to bring it back till the end of the day. I guarantee that you’ll be going batty by noon!

Loss of use automobile insurance is simply worth its weight in gold. It may not seem like it now, but it will when you suddenly need to get around and your car is in the shop. Paying for a turist car for tour or turizm with your own money for more than a few days is an extremely expensive proposition. Paying 10 to 20 bucks a year extra on your car insurance to get loss of use coverage is definitely a better deal. Do it!

By: Car Insurance Expert

Auto Insurance

admin — Thu, 01 Oct 2009 08:39:30 +0000

Auto insurance is a contract with an insurance company that helps to protect you against severe financial loss if you are ever in an auto accident Auto insurance is required to protect yourself from road and auto accidents and may include losses for liability, medical payments and any physical damage resulting from the accident. The coverage of a personal auto policy includes the insured, his family members, friends and associates that may borrow the car.

Automobile insurance includes vehicles like cars and bikes and is available for everybody. Most states have laws that require basic auto insurance coverage for every driver. Only some states ask that you display financial responsibility. If you are involved in an auto accident or stopped by a police officer and found to be driving without car insurance or proof of financial responsibility, you will have to pay a fine or specific to the laws of your state which may also include loss of driving privileges. The financial responsibility law states that you have to demonstrate having sufficient assets to settle any judgments against you which may arise out of an auto accident. If you are uninsured and in an auto accident that involves property damage or injuries to people, you will be required to pay for any damages assessed by a court.

However, having automobile insurance does not prevent a person from suing you. It does assure that the financial and legal resources of the insurance company will assist you in defending the suit and paying for the damages in the case of an automobile accident.

Since most states require auto insurance from all drivers, the states have assigned risk plans to assure coverage. The plans vary from state to state, but assigned risk policies are usually expensive, because a bad driving record makes you a bad risk for any insurer. Most auto insurance policies are non-assessable. If you do have an assessable policy, you can be assessed an extra amount if your insurance company has had an extraordinary amount of car accidents that year.

Auto insurance rates have fallen considerably across the U.S. in the last two years. The reasons contributing to this decline are:

Safer cars

Falling crime rates

Stringent drunk driving laws

Increased competition among insurance companies

Ageing of the population

With a growing need for auto insurance, many insurance companies now offer specific auto insurance deals tailored to the consumer.

By: William Brister

Car Insurance Questions You May Have

admin — Mon, 14 Sep 2009 18:01:27 +0000

When you are searching for car insurance, we understand that there are many terminologies that you may not understand. You see, many people have car insurance questions that they have to find the answer to before they are fully able to make their decision. Below, we are going to give you a list of questions that many individuals have asked in the past. These are more than likely questions that you have asked, so pay close attention and you may just find the answer to that question that has been puzzling you.

Do you need car insurance to drive a car? While the answer to this question may seem obvious to some individuals, there are many out there that do not understand this. You see, car insurance is definitely important. It is required in all states to have liability coverage. There are also some states that require you to have uninsured motorist coverage.

This will insure you against losses if you get in an accident with another individual that is underinsured or uninsured. This type of insurance is also going to save you from a hit-and-run driver. You should check with the department of insurance website in your state in order to learn the requirements that have been set forth.

What is the minimum amount of insurance that is required? The minimum amount of coverage in most states that is required include liability coverage. Liability coverage includes bodily injury liability and property damage liability.

What can you find cheap automobile insurance? The one true way to find auto insurance companies that are cheap would be to compare rates offered by different companies. The best way to compare would be to turn to the Internet. There are many websites out there that will allow you to compare rates so that you can choose the best one.

How can we lower our premium? One way to lower that premium would be by raising your deductible. As an example, if you take the deductible that is sitting at two hundred and fifty dollars and raise it up to one thousand dollars, you could save anywhere from fifteen percent to fifty percent on the yearly insurance premium.

What is a deductible? The deductible is the amount that you will be paying toward the claim if you get into an accident. This will need to be paid before the company will make payment.

By: Ted Kripps

Car Insurance Quotes You Can Handle

admin — Wed, 02 Sep 2009 05:23:49 +0000

When you take a look at the car insurance quotes that are in the state of California, you will find that they are amongst the higher priced ones in the United States. This is why it is important to shop around in order to find car insurance at a cheap and affordable price. Prior to having driving a car in California, the state requires that you get an insurance policy on the car. In fact, before you register a vehicle in this state, you need to have insurance. As we write this article, we would like to speak with you more about automobile insurance in this lovely state.

There are many websites that you can come across on the Internet that will be able to give you quotes. These websites are scattered around the Internet. Many of them are not so legit, but we guarantee, with a little bit of careful research, you will come across a legit website to get your quotes from.

Do you know something that we really enjoy about getting quotes on the Internet? The fact that it is free. That’s right, when you find the right website; you will be able to get those quotes without paying any money.

Another feature we like about obtaining online quotes is the fact that we could get the quotes instantly.

Gone are the days when you have to wait for a long period of time just to hear a quote. Through this option, you will be able to obtain many different quotes in no time at all.

Additionally, when you have an automobile that is finance, the automobile loan may require you to have some type of insurance on the vehicle. Most likely, this will be collision as well as liability. This is to make sure they receive their money in case the car is damaged or destroyed in some way, shape or form.

If you currently have an insurance policy on your car and you are wondering if you are paying too much for it, then you can turn to the Internet for help. Within no time, you will be able to determine if you can get your insurance at a cheaper price. You should also make sure to check and see if the coverage being offered is better than yours. Obviously, you do not want to settle for coverage that is not as good as what you have.

By: Ted Kripps

Car Insurance For Young Adults and Teenagers Under 25

admin — Sat, 22 Aug 2009 07:07:01 +0000

Fledgling drivers are expensive to insurance. Teenagers, and drivers under 25, are considered a very high risk driving group. Automobile insurance companies find that younger drivers belong to an age group that makes a lot of claims. Since those young motorists do not have their own driving history, they are all lumped with this group.

It may be appalling for parents to see that their insurance invoice gets doubled or tripled when they want to add a teenager to their auto insurance policy.

However, some things may help drivers under 25 find affordable car insurance. Look for young drivers car insurance deals.

B students may qualify for a discount with many car insurers, for instance. Approved drivers education courses and safe driver classes can earn discounts of 15% too.

Multiple policy discounts are given to family’s who also need to buy homeowners insurance or multiple cars . In addition, some cars are just safer to buy insurance for. If you 20 year old driver wants a sports car, you may tell him to wait until he is older, or until she pays for her own car insurance! A sedate family car will usually be much cheaper to insure!

Safety features and anti-theft devices will also earn discounts. If you are shopping for a car for a younger driver, look into theft alarms or anti-lock brakes. Not only can these features protect your investment, they can also save lives!

And shop around. You will find that some car insurers are more willing to insure your young driver. Sometimes you can find rate differences of hundreds of dollars a year for car insurance from top rated companies in your area.

One more tip is to consider buying an older car for a teen, and then only buying the minimum amount of liability coverage for this vehicle. Leave the new model, fully covered car to the adults. The savings on coverage may be worth the price of the older car. However, if this car is damaged in an accident, remember that you will not have coverage. Liability only covers damages to the other guy.

By: Mari V Cates

Car Insurance Articles – The Many Choices

admin — Fri, 21 Aug 2009 05:06:59 +0000

For those of you that are looking for information pertaining to car insurance, you will be able to find many car insurance articles on the Internet. With gas prices being the way they are today, individuals all over the country have gotten creative with the way they handle their finances. This is yet another car insurance article that you will be able to find some information in.

What do most articles pertaining to car insurance talk about? Many of them talk about how to get cheaper insurance, while others tell you the definitions behind automobile insurance. You also have those that will tell you about insurance fraud and others that will tell you how to sign up online. Either way you go, article are one way to find out information on what you are in need of.

Where exactly would one go if they were in need of some of these articles? Well, honestly, the Internet is full of resources and articles. Freelance writers are working around the clock in order to create articles just for people like you.

You can turn to a popular search engine such as Google and type in “car insurance” and come up with many articles. You can also turn to article bases and type in the keyword you would like to read about and immediately come across hundreds of articles on that subject.

One thing you are going to learn in those articles is that the prices of the insurance is going to vary from company to company. It just goes without saying that it pays out to do research and shop around. Believe it or not, you can learn many tips and tricks that other individuals have been using in order to get cheaper automobile insurance by reading auto insurance articles online.

By: Ted Kripps