Save Money On Car Insurance
(NAPSI)-When it comes to car insurance, a little research + the right questions = money in your pocket.Rates can differ widely from company to company, so it pays to shop around. Independent insurance agents represent more than one insurance company, so they can compare multiple carriers and policies to find the one that's right for you. If you're a do-it-yourselfer, Web sites such as www.progressive.com will help you compare its rates with other insurers.In addition to shopping around, there are other steps you can take to lower your insurance rate:Is your policy up to date? If you've moved, gotten married or if it has been at least three years since your last driving violation, check with your insurance company. You may be eligible for a rate reduction.Is your coverage right for your car? Owners of older or inexpensive cars should consider dropping comprehensive and collision coverages. That can often save hundreds of dollars each year.Know before you buy. Before you buy a new car, research what it will cost to insure. Generally, smaller cars with lower horsepower are less expensive to insure.Do you carry excess coverage? Many auto insurers give you the option to add rental coverage to your policy, which pays for a rental car while your vehicle is being repaired. While conditions and costs vary from company to company, it may be unnecessary if you can find other transportation. Raise your deductible. According to the Insurance Information Institute, raising your deductible from $200 to $500 could reduce your collision and comprehensive costs by 15 to 20 percent. Your agent can show you how raising your deductible can lower your premium.Do you qualify for any discounts? Ask your independent agent whether any of the carriers he or she represents offer reduced premiums for certain car features such as anti-lock brakes.Are your policies all "bundled" with the same company? This may not be best for you. Your independent agent is uniquely qualified to quote your policies with "best-in-class" carriers that offer specialized coverages and services. "Unbundling" your policies might save you a bundle.To learn more, talk to an independent insurance agent. You can find an agent at www.progressiveagent.com .
Showing posts with label Auto Insurance. Show all posts
Showing posts with label Auto Insurance. Show all posts
Thursday, January 22, 2009
Best liability policy limits
Best liability policy limits
It is generally accepted among insurance agents that the state minimum policy limits are not enough. Most insurance professionals would agree for the average driver the best liability limits to have are 100/300/100. This means:
100,000 per person for bodily injury
300,000 per accident for bodily injury
100,000 per accident for property damage
Since in most areas medical treatment is in fairly the same range, the last limit, per accident for property damage, is the one you may want to take into account if you are not the average driver. If you live in an area where you feel that if there was an accident, that was your fault, and property damage may exceed 100,000, you may want to consider higher limits. Remember, property damage is the other person's car and any other property damaged during the accident if you are at fault. In some areas one's landscaping can cost over 100,000!
It is generally accepted among insurance agents that the state minimum policy limits are not enough. Most insurance professionals would agree for the average driver the best liability limits to have are 100/300/100. This means:
100,000 per person for bodily injury
300,000 per accident for bodily injury
100,000 per accident for property damage
Since in most areas medical treatment is in fairly the same range, the last limit, per accident for property damage, is the one you may want to take into account if you are not the average driver. If you live in an area where you feel that if there was an accident, that was your fault, and property damage may exceed 100,000, you may want to consider higher limits. Remember, property damage is the other person's car and any other property damaged during the accident if you are at fault. In some areas one's landscaping can cost over 100,000!
GMAC Auto Insurance
GMAC Auto Insurance
We believe there's more to auto insurance than coverages and claims. At GMAC Insurance, we start with experience – yours. We're guided by your unique needs, translated into the policy that works best for you, your family and the vehicles you drive.
Our job? To give you the benefits of our experience. More than 60 years of it, grounded in the automotive industry. We take pride in the insurance products and services we offer, designed to give you the best possible auto insurance coverage – affordably – from your first car to your 21st.
We are committed to your complete satisfaction. And if you do need to make a claim, we'll handle it as quickly, professionally and gently as we can. We don't just want to “get” your business. We want to keep it.
GMAC Insurance. We're here when you need us. Count on it
For More Details Visit www.gmacinsurance.com/auto-insurance/default.asp
We believe there's more to auto insurance than coverages and claims. At GMAC Insurance, we start with experience – yours. We're guided by your unique needs, translated into the policy that works best for you, your family and the vehicles you drive.
Our job? To give you the benefits of our experience. More than 60 years of it, grounded in the automotive industry. We take pride in the insurance products and services we offer, designed to give you the best possible auto insurance coverage – affordably – from your first car to your 21st.
We are committed to your complete satisfaction. And if you do need to make a claim, we'll handle it as quickly, professionally and gently as we can. We don't just want to “get” your business. We want to keep it.
GMAC Insurance. We're here when you need us. Count on it
For More Details Visit www.gmacinsurance.com/auto-insurance/default.asp
Auto Insurance Basics
Do You Know the Auto Insurance Basics?
You're a driver, so you know how crazy it gets on the road. Between distractions and the rush to get somewhere on time, accidents can and do happen. Fenders get bent, and sometimes people get hurt. Even if you're just parked in your driveway, a tree limb can crash through your windshield, or someone can steal your car. When the worst happens, auto insurance is there to protect you.
Why buy auto insurance?
Auto insurance can protect you against the financial risk associated with personal injuries and property damage caused by auto accidents, theft, vandalism, or natural disasters.
All states require you to purchase at least a minimum amount of liability coverage. Other types of auto insurance coverage may be optional or required, depending on state regulations. If you have a car loan or lease, the lender will also generally require that you purchase coverage for the car itself.
Liability coverage
This is the state-mandated legal coverage you'll be required to have
Bodily injury liability:
Protects your assets if you are held liable for an auto accident in which other people are injured or killed.
Property damage liability:
Covers repairing or replacing the autos or other property of other people.
This coverage will also pay for the legal costs associated with defending you against lawsuits related to accidents. To adequately protect your assets, you probably want to purchase much more than the minimum amount of coverage required in your state.
Collision, comprehensive, uninsured and underinsured motorist, and medical payments coverages
Although these coverages are optional in most states, it often makes sense to purchase them, unless you can afford to pay for losses yourself.
Collision:
Pays to repair or replace your car if it's damaged in an accident.
Comprehensive:
Insures your car against damage caused by something other than an auto accident (e.g., theft, fire, flood, vandalism). It is also called other-than-collision.
Uninsured/underinsured motorist coverage:
Unless you live in a "no-fault" state (where your own insurance will cover your losses), this coverage insures you against certain losses caused by other drivers with little (underinsured) or no (uninsured) auto insurance. It can cover things like lost wages as well, and provides coverage to your passengers, and those listed on your policy while riding in other cars or as pedestrians.
Medical payments coverage or personal injury protection (PIP): Covers various medical and/or funeral expenses for you and your passengers, as well as those listed on your policy while riding in other cars or as pedestrians. (Learn more about: medical payments coverage and PIP coverage.)
Additional coverages
Most of these coverages are optional, relatively cheap, and provide a lot of protection, although they may not be helpful in all circumstances.
Gap coverage:
Pays the difference between the actual cash value of your car and the amount you owe on your loan or lease if your car is totaled in a covered accident. It is sometimes called loan/lease coverage.
Towing and labor or roadside assistance:
Towing and labor usually covers the cost to tow your car to a repair facility or make minor repairs after a covered accident. Roadside assistance usually covers towing, minor repairs, and fuel delivery, even if there was no accident.
Rental reimbursement:
Pays the cost of renting a replacement car if yours is not drivable due to a covered accident. Some auto insurance companies will send you a check for part of the allowed amount if you don't rent a replacement car.
And then the insurance company pays for everything, right?
That would be nice, but it's not always true. Here are some things you'll always need to cover yourself:
Deductibles:
The amount of money that you've agreed to pay out of your own pocket before your insurance coverage kicks in. You can have different deductibles for different coverages, and liability coverage never has a deductible.
Exclusions:
Events or situations your policy specifically omits from coverage, such as property damage or personal injury you intentionally cause, or damage to your own car due to mechanical failure or wear-and-tear.
Costs above policy limits:
Any expenses that exceed the caps on the dollar amounts of coverage you're entitled to receive under your policy.
Driving a good bargain
Many factors affect your auto insurance premium, including your age, the state in which you live, the make and model of your car, where your car is parked at night, and your driving record. Although you can't do much about some of these factors, here are some things you can do to help lower your premiums:
Increase your insurance deductible.
Eliminate optional coverages if you don't need them (e.g., rental reimbursement if you have other means of transportation).
Eliminate collision and comprehensive coverage if you drive an older car that wouldn't cost much to replace, and if you could afford to pay for repairs if necessary.
Ask about available discounts (e.g., low-mileage discounts, discounts for safety or antitheft devices) for your auto insurance (if applicable in your situation).
Avoid buying a vehicle prone to theft or expensive to repair.
Drive safely to establish a good driving record.
Maintain good credit.
Shop around
It's important to shop around for auto insurance coverage. Insurance premiums for the same coverage on the same car can vary widely among different insurers. A particularly good time to investigate your alternatives is when your current insurance policy is up for renewal, but you can shop and change policies at any time. Get quotes from several reputable companies, but don't let price be your only consideration. Make sure the coverage offered by each insurer meets your needs, and find out if the insurer has a solid financial strength rating.
You're a driver, so you know how crazy it gets on the road. Between distractions and the rush to get somewhere on time, accidents can and do happen. Fenders get bent, and sometimes people get hurt. Even if you're just parked in your driveway, a tree limb can crash through your windshield, or someone can steal your car. When the worst happens, auto insurance is there to protect you.
Why buy auto insurance?
Auto insurance can protect you against the financial risk associated with personal injuries and property damage caused by auto accidents, theft, vandalism, or natural disasters.
All states require you to purchase at least a minimum amount of liability coverage. Other types of auto insurance coverage may be optional or required, depending on state regulations. If you have a car loan or lease, the lender will also generally require that you purchase coverage for the car itself.
Liability coverage
This is the state-mandated legal coverage you'll be required to have
Bodily injury liability:
Protects your assets if you are held liable for an auto accident in which other people are injured or killed.
Property damage liability:
Covers repairing or replacing the autos or other property of other people.
This coverage will also pay for the legal costs associated with defending you against lawsuits related to accidents. To adequately protect your assets, you probably want to purchase much more than the minimum amount of coverage required in your state.
Collision, comprehensive, uninsured and underinsured motorist, and medical payments coverages
Although these coverages are optional in most states, it often makes sense to purchase them, unless you can afford to pay for losses yourself.
Collision:
Pays to repair or replace your car if it's damaged in an accident.
Comprehensive:
Insures your car against damage caused by something other than an auto accident (e.g., theft, fire, flood, vandalism). It is also called other-than-collision.
Uninsured/underinsured motorist coverage:
Unless you live in a "no-fault" state (where your own insurance will cover your losses), this coverage insures you against certain losses caused by other drivers with little (underinsured) or no (uninsured) auto insurance. It can cover things like lost wages as well, and provides coverage to your passengers, and those listed on your policy while riding in other cars or as pedestrians.
Medical payments coverage or personal injury protection (PIP): Covers various medical and/or funeral expenses for you and your passengers, as well as those listed on your policy while riding in other cars or as pedestrians. (Learn more about: medical payments coverage and PIP coverage.)
Additional coverages
Most of these coverages are optional, relatively cheap, and provide a lot of protection, although they may not be helpful in all circumstances.
Gap coverage:
Pays the difference between the actual cash value of your car and the amount you owe on your loan or lease if your car is totaled in a covered accident. It is sometimes called loan/lease coverage.
Towing and labor or roadside assistance:
Towing and labor usually covers the cost to tow your car to a repair facility or make minor repairs after a covered accident. Roadside assistance usually covers towing, minor repairs, and fuel delivery, even if there was no accident.
Rental reimbursement:
Pays the cost of renting a replacement car if yours is not drivable due to a covered accident. Some auto insurance companies will send you a check for part of the allowed amount if you don't rent a replacement car.
And then the insurance company pays for everything, right?
That would be nice, but it's not always true. Here are some things you'll always need to cover yourself:
Deductibles:
The amount of money that you've agreed to pay out of your own pocket before your insurance coverage kicks in. You can have different deductibles for different coverages, and liability coverage never has a deductible.
Exclusions:
Events or situations your policy specifically omits from coverage, such as property damage or personal injury you intentionally cause, or damage to your own car due to mechanical failure or wear-and-tear.
Costs above policy limits:
Any expenses that exceed the caps on the dollar amounts of coverage you're entitled to receive under your policy.
Driving a good bargain
Many factors affect your auto insurance premium, including your age, the state in which you live, the make and model of your car, where your car is parked at night, and your driving record. Although you can't do much about some of these factors, here are some things you can do to help lower your premiums:
Increase your insurance deductible.
Eliminate optional coverages if you don't need them (e.g., rental reimbursement if you have other means of transportation).
Eliminate collision and comprehensive coverage if you drive an older car that wouldn't cost much to replace, and if you could afford to pay for repairs if necessary.
Ask about available discounts (e.g., low-mileage discounts, discounts for safety or antitheft devices) for your auto insurance (if applicable in your situation).
Avoid buying a vehicle prone to theft or expensive to repair.
Drive safely to establish a good driving record.
Maintain good credit.
Shop around
It's important to shop around for auto insurance coverage. Insurance premiums for the same coverage on the same car can vary widely among different insurers. A particularly good time to investigate your alternatives is when your current insurance policy is up for renewal, but you can shop and change policies at any time. Get quotes from several reputable companies, but don't let price be your only consideration. Make sure the coverage offered by each insurer meets your needs, and find out if the insurer has a solid financial strength rating.
Auto Insurance
Auto Insurance
Vehicle insurance (also known as auto insurance, car insurance, or motor insurance) is insurance purchased for cars, trucks, and other vehicles. Its primary use is to provide protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident.
Vehicle insurance (also known as auto insurance, car insurance, or motor insurance) is insurance purchased for cars, trucks, and other vehicles. Its primary use is to provide protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident.
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