Insurance Information Center

How much Auto Insurance Coverage you Need
Sunday, April 1, 2007

By: Matt McWilliams

The Three Basic parts to an Auto insurance Policy

1: Other Party:

Auto Insurance Bodily Injury (BI) Liability and Property Damage (PD) coverage is Legally required in most states today. (BI & PD) Most people understand that they need BI & PD, but they have no idea how to determine how much coverage they need.

Try this simple question: What if your car was involved in an auto accident tonight where heaven forbid, someone else was injured or killed? Remember, everything you own is in the back seat of the car with you and is at risk in a lawsuit! So, what do you think their family would sue you for? $15,000? $25,000? $100,000 or even maybe a Million dollars! Where would you get the money to pay them?

Perhaps the Equity in your Home would help? How about your Savings and/or Investments? You could even have up to 25% of your wages attached to pay the award in most states! Are you prepared to sacrifice everything you own to pay an award due to this accident? If not, read on for how to choose the auto insurance coverage you need.

2: You and Your Family:

Now let’s turn the above accident around. For some unfortunate reason, you or a loved one is the one who is injured or killed in an auto accident. Where would you get the money if the person who hit you did not have auto insurance or not enough auto insurance? Medical bills can be covered if you have health insurance. But health insurance doesn’t cover loss of life, pain & suffering or permanent disability.

Maybe you have a life insurance policy through your employer or your own individual life policy. Is the benefit amount sufficient to cover your family if your loved one is killed? But even if you have life insurance, what pays for the misery, the pain & suffering, maybe the fact you or a loved one can’t walk or use their arms again?

You might have a disability insurance policy through your work if you’re lucky or had good financial advice. But disability insurance doesn’t pay for loss of life, pain & suffering, permanent loss of your legs, arm or hand.

The only coverage that pays for these things is a part of an auto insurance policy known as Un/Under-insured motorist coverage. You can only buy as much coverage here as you have in Liability coverage. Your auto insurance agent should be able to help you determine the exact amount you need.

3: Your Car

Comprehensive and Collision Coverage are the third part of an auto insurance policy and are sometimes referred to as “Full coverage.” Basically the difference is this: If you run into the tree you are covered by Collision coverage. If the tree runs into you (hypothetically of course), then you are covered by comprehensive coverage. Comprehensive also covers broken windshields, fire, theft and vandalism. The higher deductible (risk) you take here, the lower the premium. Use the savings here to purchase higher limits in the coverages that protect your assets and your family.

The bottom line to determining proper auto insurance coverage is, of course, the money available in your household budget. An excellent place to start in determining the proper auto insurance coverage for your family is to meet with your local auto insurance agent.

Most cut-rate companies concern themselves with one thing only: Price. Tell them what coverage you have and they’ll see if they can give you the same coverage for less. You become the insurance professional. If this is the only need you have then that is ok. If not, you need to seek the advice of a professional to help you determine the proper amount of coverage you need and how best to accomplish it.

Review these tips for auto insurance coverage to make sure you have enough to protect your family.

About The Author...
BIO: Matt McWilliams is one of the co-founders of HometownQuotes.Com, an online insurance quotes web site. He is originally from Pinebluff, NC and attended Middle Tennessee State University. He is considered an expert in the field of online insurance shopping and finding new ways to help consumers save money on their insurance. For more information visit www.hometownquotes.com/determining-auto-insurance-coverage.html - Autos, Trucks & More

Email To :MattRMcWilliams@HometownQuotes.com

Posted byThe PowerTeam Network was at 11:37 PM

0 comments

Choosing the Right Auto Insurance Company

Avoiding Disaster: Choosing the Right Auto Insurance Company
By: Auto Insurance Spot

A great deal is at stake when choosing an auto insurance
carrier. In addition to the financial considerations,
there are issues such as reliability, quality of service,
and integrity. Luckily, there are certain steps you can
follow to ensure that you select an auto insurance company
that will meet your needs.

When choosing an insurance carrier, reputation carries a
great deal of weight. For instance, Allstate, Nationwide,
and State Farm are well-known companies that have managed
to hold onto some clients for years. For additional
guidance, you can consult your state's department of
insurance website. The website might offer consumer
complaint ratios which indicate exactly how many complaints
an auto insurance company has received for every 1,000
claims filed. This information can help you to better
evaluate companies so that you have some idea how their
customer service rates. You can then compare the list of
companies with low complaint ratios with the list of
companies with low premiums and see if you can come up with
any matches. Those companies that combine stellar customer
service with low rates offer you the best deal for your
money.

If for some reason you cannot locate complaint ratios for
your state, try looking at the complaint ratios for other
states. While an insurance company's operations may vary
from state to state, if a company posts a high complaint
ratio in a number of states, you should consider that to be
a warning sign. It is best to simply cross off your list
any insurance company with consistently high complaint
ratios.

Another technique you can use when evaluating insurance
carriers is to determine which insurers body shops in your
area recommend. Because body shop managers must deal with
a number of insurance adjusters, they can provide you with
an inside look at insurance companies. The managers will
know, for instance, which companies offer the most
convenient claims procedures. They'll also know which
companies are particularly slow in processing claims.

Another important source of information is J.D. Power and
Associates, which rates insurance companies in terms of
variety of coverage, rates, claims processes, and customer
service. In recent years, Amica and Erie have posted the
best rankings with J.D. Power. These two companies have
earned raves for finding ways to cover claims, when at all
possible. You might also want to consider an insurer's
financial strength by checking out ratings from A.M. Best
and Standard and Poor's. These ratings determine an
insurance company's ability to pay claims. Still, you
should be aware of the fact that most well-known carriers
are considered to be financially sound.

Finally, you might select your insurance company based upon
the professionalism of an individual agent. Since you will
have to work closely with your agent, it is important to
find one that you can trust. You might consider consulting
a relative or friend to find out the names of some
particularly efficient agents.

In the end, you may not find out just how responsive your
insurance company is—until you are faced with an accident.
However, if you conduct extensive research before selecting
an insurance company and agent…if you pay close attention
to complaint ratios…and you ask plenty of questions,
chances are good you will find insurance coverage you will
be happy with.

About The Author...
Auto-Insurance-Spot.com is a directory of auto insurance companies across the United States.
Visit the auto insurance site for more information.

Posted byThe PowerTeam Network was at 11:36 PM

0 comments

The Right Auto Insurance Can Save You Money!

By: Mike Yeager

Auto insurance is a protective feature that everyone needs who owns a car. Auto insurance allows you to have financial coverage in case you are involved in an auto accident; regardless of who is at fault. When shopping for auto insurance keep in mind that rates will vary dramatically for the same driver, depending on which company you ask. The key to savings lies in comparing many auto insurance quotes, to find the insurer that will give you the best rates.

If the auto insurance company you’re investigating is sound then it’s possible to purchase cheap auto insurance coverage that will give you peace of mind. Most states require you to purchase a minimum amount of auto insurance. In order to even drive your car you need to have at least liability insurance, in other words you have insurance to cover the expenses of the other party if you cause an insurance. If you are at fault in an accident, your liability insurance will pay for the bodily injury and property damage expenses caused to others in the accident, including your legal bills.

There are some insurance companies that offer discounts to those drivers who put fewer than a predetermined number of miles on their cars each year. Considering the high price of gasoline, carpooling and taking public transportation such as buses around town can help you save more than just premium dollars.

You’ll find that there are many places to locate cheap auto insurance to not only save you money but to also give you adequate coverage and protection.

Take your time to look around and you’ll find that you can save on your auto insurance rates.

About The Author...
Mike Yeager Publisher www.a1-insurance-quotes-4u.com/ mjy610@hotmail.com - Autos, Trucks & More

Posted byThe PowerTeam Network was at 11:35 PM

0 comments

Is Your Auto Insurance Company Rated?

By: Jon Register

Several national rating institutions rate insurance companies. Do coverages, rates, and service vary from company to company? Why can you pay less with one company than another can for the same coverages? Choosing the best insurance company for you is a crucial financial decision. Does your insurance company have the financial strength to safeguard you and your family? If the company cannot pay future claims or benefits, other issues become far less relevant. Financial strength ratings are an analysis of a wide variety of risks that could affect an insurance company's long-term viability. Insurance companies have failed or ceased to operate due to inadequate financial strength, competitive forces, or changing dynamics in the marketplace.

Standard & Poor's Ratings (http://www.standardandpoors.com) Financial strength ratings of insurance companies, plus detailed financial Insurer Profiles on nearly 4,000 companies.

Fitch Ratings (http://www.fitchratings.com) Financial strength ratings of insurance companies.

Have you heard of the company where you are considering purchasing coverage? Do you have any experience with the company?

Ask your peers what experiences they have had. What is your sense of the reputation of the company? How quickly and easily are claims processed? Is there 24-hour claims service? Is the claims management in the house of the insurance company or have they outsourced? Auto insurance is meant to make you whole in the case of an accident with injury or property damage. It is to protect your assets and protect you from liability. You will want the peace of mind of a superior rated company when it comes time to manage and pay the claim. The financial health of a car insurance company is an often-overlooked area when shopping for the best auto insurance rate. It is human nature to make your comparison solely on the rates for the coverages. While this is certainly important, you should be aware of the company's overall rating and level of satisfaction. Consulting insurance company ratings is crucial. Each company issues quarterly reports that are publicly accessible. You cannot always tell the future from the past. However, the past performance is a valuable insight into what expectation to have for your future coverage. One of the factors that are used in order to determine the companies' ratings is how long they have been in business. If there is no history, you may be taking an unnecessary chance. Look for a company that has a history and make sure that history shows good performance.

What about the reputation of the insurance company? It is very simple to find this information. Just ask around. There are your peers, the BBB, and family. Many times these resources closest to you will be able to share experiences that are favorable or unfavorable regarding the company you are considering. In addition, each state has a Department of Insurance that keeps public information about companies. Use all the resources you can to determine which company is best for you. Once you have paid for the policy, you will then become keenly interested in customer service. Be aware of what the source of information is regarding the insurance company. Many companies put our information about themselves in the form of illustrations that are intended to make them look as good as possible. Of course, while these illustrations must be factual, you should be aware that you are not receiving objective information.

How can you quickly check the company rating? You are on the internet now. Surely, there is a quick way.

Go to http://www.carinsurance.com. Not only will you get the rates of various insurance companies, you will see the A.M. Best rating for each company along side their rates for you personal situation.

Now is the time for your fingers to punch their way to a quick rate analysis and view the ratings at the same time.

Visit http://www.carinsurance.com For Quality Rated Car Insurance

About The Author...
Jon Register is a representative of CarInsurance.com. You can visit CarInsurance.com at www.carinsurance.com or contact them at 1-877-327-8728. CarInsurance.com offers the ability to shop for car insurance online. Consumers can receive quotes from many insurance companies, in some states you are able to purchase your insurance instantly, online. You don't have to drive your car to buy car insurance. Buy online...anytime! - Autos, Trucks & More

Posted byThe PowerTeam Network was at 11:34 PM

0 comments

Why Should You Shop Around for Auto Insurance?

By: Jon Register

How do you know if what you are paying for your insurance is a good deal? What is a good deal? Is choosing the cheapest company the best way to go? Does buying from the most expensive company mean you are buying the best coverage? Generally, a good deal is a state of mind. As long as you are happy, with the amount of coverage, you have and how much you paid for it, you got a good deal. For each person, the amount of coverage they need and what they can afford to spend is usually a different amount.

The main reason drivers overpay on their insurance is they do not shop around. CarInsurance.com offers an easy way to shop around. They do compare the pricing of several auto insurance quotes. Knowing how much coverage you need will help you select an insurance company. This is one of the best ways for consumers to maximize what they get for their insurance premiums.

Insurance is a highly competitive business. There are thousands of insurers offering policies to consumers. Each consumer's goal should be to find a financially solid company that offers a fair price along with superior customer service. How do you know which company can provide such a combination of both good pricing and customer service? One way is to talking to friends, relatives, and business associates. Ask people you know and respect what insurance company they use. Ask if they are pleased with how their company handles claims.

The insurance industry is highly regulated. It is important to do business with a company that is licensed by the state in which you live. Another factor of the strength a company has is its A.M. Best Company rating. You want to be comfortable knowing that in the event of a claim your company will be there for you. A.M. Best Company is the industry leader providing ratings and financial information for insurance companies. AM Best ratings are recognized as the standard by which an insurers' financial strength is measured. The ratings are available here: http://www.ambest.com. CarInsurance.com lists the AM Best rating of each company once you complete your quote.

How do you know what to expect from your insurance company? Your insurance company and its representatives should be able to answer your questions. They should be able to help you determine what coverage and limits you should carry based on your needs. They should handle any claims fairly, efficiently and quickly. You should feel comfortable with both the insurance company that you select and the insurance agent or company representative that you will be working with. Your insurance professional should take the time to understand your insurance needs and answer all of your questions to your satisfaction.

Go to http://www.carinsurance.com, not only will you get the rates of various insurance companies, you will see the A.M. Best rating for each company along side their rates for you personal situation.

Now is the time for your fingers to punch their way to a quick rate analysis and view the ratings at the same time.

Visit http://www.carinsurance.com to Check Out Our Rates!

About The Author...
Jon Register is a representative of CarInsurance.com. You can visit CarInsurance.com at www.carinsurance.com or contact them at 1-877-327-8728. Consumers can receive quotes from many insurance companies, in some states you are able to purchase your insurance instantly, online. You don't have to drive your car to buy car insurance. Buy online...anytime! - Autos, Trucks & More

Posted byThe PowerTeam Network was at 11:33 PM

0 comments

By: Jeanine Steele

In our ongoing mission to help our readers make sure they get the best deals on Auto insurance, and not be manipulated into buying more than is necessary, or paying far to high a price from the wrong supplier, we wanted to post the following article we recently came across.

The bottom line is ALWAYS get MULTIPLE Quaoted before you buy..

Hope this helps

Regards

R. Johnson

Get Cheap Car Insurance - Make Getting Quotes Really Easy
By: Gavin Bloom

When it comes to getting cheap insurance rates, one of the most important tools you have is information. You need to be knowledgeable about the steps you can take to help ensure that you are eligible for the lowest cheap car insurance rates possible. In addition, you need to know how to locate the companies that offer cheap car insurance and compare available rates.

Everybody wants cheap car insurance, but, alas, the rates are up to the insurer. There are many variables that insurers use in determining your rate, some of which you have influence over and some that you don’t. Age, for example, is one cheap car insurance factor that you’ll just have to wait out. However, young or old, you can do things to make you more eligible for the better cheap car insurance rates.

Naturally, the most obvious is to be careful in your driving, avoiding accidents and traffic tickets. Perhaps not so obvious is to avoid making insurance claims if possible. Sometimes, it is cheaper to just pay for less expensive damage than it is to make a claim, when you factor in how that claim will affect your insurance rates in the future.

Other ways to make yourself more likely to receive cheap car insurance rates include use of devices that help to prevent vehicle theft and to recover it if it is stolen, where you live, as areas with a higher crime rate often result in slightly higher rate quotes, and your choice of car. A more conservative vehicle is more likely to have cheap car insurance than is a sports car.

Also important to getting cheap car insurance is knowing where to look. With the advent of the Internet, you have the opportunity to get quotes and compare prices all over the nation. Using that opportunity can greatly increase your chances of finding the cheap car insurance rates you want.

Information is a valuable tool in getting cheap car insurance. The successful consumer knows where to find cheap car insurance and know what variables can affect rates, adjusting what can be fixed and waiting out the rest. Collecting the right information and acting upon it can help you, too, to enjoy cheap car insurance.

Article Source: http://www.adamginsberg.com Adam Ginsberg - Adam’s Articles: Distribution, Writing, Submission, Directory:

car insurance quotes, affordable health insurance, homeowners insurance

Posted byThe PowerTeam Network was at 11:32 PM

0 comments

The Smartest Way to Buy Auto Insurance (Part 1 of 4)

By: Jeanine Steele

The Smartest Way to Buy Auto Insurance
(Part 1 of 4)
Look at a Lot More Than Just COST, Because Comparison Between Companies is Meaningless Without Research on These Three Topics for Each Company You Are Considering:
1.complaints filed with your state insurance commissioner
2.payment practices that increase your chances of being sued
3.miscellaneous topics, such as use of credit scoring to set premiums, denial of medical treatment to their own insureds, insisting on the right to deny the consumer the right to arbitration in UIM claims, etc.

So you heard or saw an advertisement for low cost auto or motor vehicle insurance and you are thinking of making a switch: DON’T DO IT until you have read about and considered all aspects of such insurance coverage. Otherwise, you might have saved a few bucks, but exposed you and your family to inferior coverage—and, in the case of some hard-nosed companies, exposure to being sued, should you ever cause an accident.

We want to invite our readership to consider some of the important factors that ought to come to mind when one is selecting a company for auto or motor vehicle insurance. The airwaves are full of advertisements, and most of them feature some combination of alleged advantages in cost and fast service.

The problem is, there is a lot more to auto insurance than just those two factors, and we believe the factors we list herein are MORE important than just fast service or cost. The fact is, auto insurance will most likely come to your rescue at some point, so it's imperative to purchase a worthwhile policy.

The very first thing to consider is your knowledge of the product you are about to buy. How can you make a knowledgeable decision, comparing one company’s coverage to that offered by another, unless you know what each component of the policy will do for you?

DO NOT COMPARE one insurance company with another until you have done the necessary research. Insurance companies and their practices just differ too much to allow one to assume certain practices are “standard throughout the industry”. For example, while your company may pay for chiropractic treatments for your eighteen months, the low-cost carrier you are considering might have a hard-nosed policy of terminating chiropractic benefits after only four months. Wouldn’t you agree that a person should know that type of defect before jumping in with a new company?

Glossary of Terms to Consider When Buying Insurance:

Here is a brief glossary of terms you will encounter during your research:
1.Full Coverage: You better not rely upon this term at all, since it DOES NOT MEAN that you have full, comprehensive coverage. Instead, all this term indicates that you have all the minimum coverage for your state of residence; it does not necessarily mean you will always be fully covered, since there are a lot of insurance provisions available in addition to the minimum coverage.

2.Split Limits and Combined Single Limits of Liability: Have you seen your bodily injury liability limits denoted as (25/50/25), or something similar? Split limits of liability provide for separate coverage limits for bodily injury (or Underinsured Motorist coverage). In this example, the limits are $25,000 per person bodily injury, $50,000 per accident aggregate bodily injury, and $25,000 per accident property damage. A combined single limit policy has one coverage limit for the total cost of injuries and damage, but you will rarely see them because split limits of liability are much more common.

3.Policy Limits Per Person: The maximum amount of money your insurance company will pay out for any one individual for bodily injury losses; many states have minimum required limits.

4.Policy Limits Per Accident: The maximum amount of money your insurance company will pay out for bodily injury losses for any one accident, irrespective of the number of persons who were injured.

5.CLUE: (Comprehensive Loss Underwriting Exchange) is a database of consumer claims created by ChoicePoint that insurance companies can access when they are underwriting or rating an insurance policy. What information does a CLUE report provide? The report contains consumer claim information provided by the insurance companies. It includes policy information such as name, date of birth, and policy number, claim information such as date of loss, type of loss and amounts paid, and a description of the property covered. It can include a detrimental report for each time you notified any insurance carrier of even the mere possibility of making a claim. For example, reporting a wind damage claim under your home owner’s policy, EVEN IF you never actually made a claim, will be counted against you and result in a higher auto insurance premium! For auto coverage, it includes specific vehicle information, including past claims involving that vehicle. For more information, visit the excellent site of the Washington State Insurance Commissioner: http://www.insurance.wa.gov/factsheets/cluefacts_s.asp

6.Credit Scoring in Premium Pricing: Many insurance companies feel strongly that a mediocre or bad credit rating means you're a high risk driver. A credit score is a number insurance companies assign consumers based on their credit history, such as bill-paying history, the number and type of accounts they have (including “zero balance large open credit card account), late payments, collection actions, outstanding debt and the age of their accounts. For more information, visit the excellent site of the Washington State Insurance Commissioner: http://www.insurance.wa.gov/factsheets/creditscoring_s.asp

7.Bodily Injury Liability: It's the part of liability coverage that insures you against the injury you cause to others in an auto accident. It consists of two figures. One limits the cost of injury coverage per person injured, and the second limits the total dollar amount of injury coverage (for everyone injured) in any single accident.

8.Property Damage Liability: It's the part of liability coverage that insures you against the cost of damage to another's property caused by you in an automobile accident. "Property" includes other cars, houses, fences, telephone poles, etc.

9.Uninsured Motorist: Uninsured motorist bodily injury coverage pays for medical expenses, lost wages, and general damages (e.g., pain and suffering, loss of enjoyment of life) when policyholders, authorized drivers, or passengers are injured in an accident caused by a driver who has no insurance coverage. It can cover members of the owner’s family household. It usually consists of separate limits for bodily injury and property damage, so you will have to insure your own property against injury from another person. This policy is required in some states.

10.Underinsured Motorist: Underinsured motorist bodily injury coverage, pays for medical expenses, lost wages, and other general damages when policyholders, authorized drivers, or passengers are injured in an accident caused by a driver who has insufficient coverage. It can cover members of the owner’s family household.It typically pays the difference between the at-fault driver's liability limit and the holder's policy limit. There are separate limits for property damage and bodily injury liability, so you will have to insure your own property against injury from another person. This coverage is sometimes combined with uninsured motorist coverage under one policy, and may be required in some states.

On to Part 2

About The Author...
Jeanine Steele is an editor with SettlementCentral.Com(www.settlementcentral.com), the online resource for self-help do-it-yourself personal injury claims. - Business, Finance & Management

Posted byThe PowerTeam Network was at 11:30 PM

0 comments

Insurance Information Center

Information and Links Relating To Life Insurance,Car Insurance, House Insurance, Mortgage Insurance, Auto Insurance, Insurance Agents, and Legal Services and Lawyers to contact when facing lawsuits related to Insurance claims.

How much Auto Insurance Coverage you Need Sunday, April 1, 2007

Choosing the Right Auto Insurance Company

The Right Auto Insurance Can Save You Money!

Is Your Auto Insurance Company Rated?

Why Should You Shop Around for Auto Insurance?

By: Jeanine Steele

The Smartest Way to Buy Auto Insurance (Part 1 of 4)

How much Auto Insurance Coverage you Need
Sunday, April 1, 2007