by Guest » Mon Dec 21, 2009 09:12 am
Every state requires you to purchase a minimum auto insurance or vehicle insurance coverage to protect you and others from damages caused by an accident. However, what kind of protection you will get depends on your state's auto insurance laws.
What is auto insurance?
Auto/vehicle insurance is where you pay a regular premium and the insurer compensates you for any financial loss that occurs if you get involved in an accident.
Because every state requires you to have the state minimum coverage, you should look for affordable auto insurance that will protect you if you have an accident. If you are a good driver and haven't had any parking tickets or accidents recently, then most insurance companies will offer you discount auto insurance policies.
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Because every state requires you to have the state minimum coverage, you should look for affordable auto insurance that will protect you if you have an accident. If you are a good driver and haven't had any parking tickets or accidents recently, then most insurance companies will offer you discount auto insurance policies.
What does auto insurance cover?
Your basic policy should cover the following:
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- Bodily Injury Liability: This provides protection if the driver, policyholder, or the policyholder's family member causes bodily injury to someone else.
- Personal Injury Protection (PIP): If the passengers and driver of the policy holder's vehicle are injured, PIP covers the cost of treatment and may also cover lost wages, cost of replacing services, and funeral costs. Search the internet for best auto insurance rates.
- Property Damage Liability: If you or someone else permitted to drive your car damages others' property, this coverage will protect you. When you look for free auto insurance quotes, make sure you will be covered under the Property Damage Liability coverage.
- Collision coverage: This compensates for damage to the policy holder's car as a result of collision with another car. Even if you are at fault, this term will cover the cost of repair to your car minus the deductible. If you are not at fault, then your insurer will try to recover the cost from the other driver's insurer.
- Comprehensive Coverage: Many of you may be asking yourselves "What is comprehensive auto insurance protection?". If you suffer a loss due to theft or a damage caused by something other than a collision, like a fire, explosion, earthquake, or windstorm, then this protects you.
- Uninsured/Underinsured Motorist Coverage (UM/UIM): Individuals who buy cheap car insurance are often underinsured and do not have enough money to pay for losses if they are involved in an accident. If an uninsured, underinsured, or hit-and-run driver hits you or your family member, this term will reimburse the cost of your damages. You will also be protected if you are hit as a pedestrian. When you buy car insurance compare quotes for UM/UIM coverage from different companies.
What are the benefits of buying auto insurance online?
With many companies offering online auto insurance quotes, it is easier for you to research the policies, terms, and conditions and compare them. You can also check the company's auto insurance reviews to make the best choice.
Here are 4 benefits you can get if you buy auto insurance coverage online:
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Here are 4 benefits you can get if you buy auto insurance coverage online:
- Easier research: The internet allows you to do extensive research on various companies without having to visit each company. You can easily find the cheapest legal auto insurance online to suit your budget.
- 24/7 service: This is the best part about looking for information online; you can find information when you need it.
- Manage a policy: You can manage your policy, print out proof of coverage, and view/ manage your bill online.
- Claim: You can even file a claim online and follow it up online.
Which factors influence your auto insurance rates?
When you apply for an auto insurance coverage, the company sends over your application to the underwriters. The underwriters evaluate the level of risk associated with an applicant, and accordingly approve and fix his/her rate or reject the application. The factors which are usually considered for the auto insurance underwriting process are:
- Age and gender of the driver
- Driving records/ history of the one to be insured
- Prior claims history
- Efficiency of the driver (driving education)
- Model, make and type of the vehicle
- Age of the vehicle
- Mileage of the vehicle
- Location (where it'll be used)
- Purpose for which the vehicle is used (work, personal, pleasure or commercial etc.)
- How the vehicle is garaged
- Your choice of deductible, limits of coverage and benefits
- Auto insurance score
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Converting to a low cost policy
Discount auto insurance schemes can help you convert your basic policy into a low cost auto insurance policy. You can find many cheap auto insurance quotes that will allow you to save money and provide adequate coverage. Take a look at few of the ways to save money.
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- Safety measures: A few insurers offer discounts for safety measures like anti-lock brakes on used cars.
- Multiple policy rates: Some of the bigger insurance companies that provide different types of insurance offer "bundle" rates if you buy several kinds of insurance, like life insurance and homeowner's insurance in addition to your car insurance.
- Safe driver's discount: In many cases, insurers offer a safe driver's discount if you go for a certain period without a ticket or accident, usually 3 years.
- Renewal discount: If you have been with an insurer for a long time, they might offer a renewal discount to get you to continue your current coverage.
- Discounts for students: If you are a student, unmarried, under the age of 25 years, and you meet the grade requirements, you may get cheap auto insurance.
- Choosing a higher deductible: If you choose a higher deductable, your premium payment will be less, but you will have to pay more if you have an accident.
- Type of car: The type of vehicle you buy is a factor your insurance agent uses to determine your auto insurance premium rate. The quotes you get for an expensive car will be higher than for a more standard car. The age and size of your car also determines how high your premium is.
- Good credit history: Maintaining good credit history may also entitle you to certain discounts.
- Low mileage discounts: Some companies may also offer certain percentage of discounts to individuals who drive less than the average number of miles each year. If you are one of them, then you may also get this privilege.
Will your premium go up after you file a claim?
Every insurer will increase the amount of your premium if you are involved in an accident. The increase is decided by the auto insurance company you purchased your policy from.
If you have a bad driving record, your motor insurance company may refuse to renew your policy and varies from one company to another. Accidents caused by drunk driving are more likely to result in a non-renewal of your policy.
If you decide not to inform your insurer about a minor accident, it may cause problems later. If you get sued by the other driver, your auto policy provider might not cover you because of the time lapse. Even if the claim is not refused, it will be harder to find evidence to support your case.
No one can predict when they will get into an accident. Investing in automobile insurance, protects you and your family during accidents and from losing your license for driving without insurance.
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If you have a bad driving record, your motor insurance company may refuse to renew your policy and varies from one company to another. Accidents caused by drunk driving are more likely to result in a non-renewal of your policy.
If you decide not to inform your insurer about a minor accident, it may cause problems later. If you get sued by the other driver, your auto policy provider might not cover you because of the time lapse. Even if the claim is not refused, it will be harder to find evidence to support your case.
No one can predict when they will get into an accident. Investing in automobile insurance, protects you and your family during accidents and from losing your license for driving without insurance.
Related readings
- Where to find cheap auto insurance quotes
- Auto insurance FAQ
- How do automobile insurance claims affect your policy?
- What are the advantages of getting auto insurance quote online?
- Should you drop collision coverage from auto insurance policy
- How to get affordable auto insurance quote for teenagers
Useful auto insurance letter
I've heard of so many automobile insurance claims that affected the insured's premiums. Is it possible for anyone to guide me regarding the major auto claim factors that affect our premiums?
Posted: Sat Sep 05, 2015 07:37 pm Post Subject: auto insurance coverage answers needed ASAP!! IMPORTANT! &am
well I was on my way home && I had just crossed a four way, got going up back to speed, bout 40-50 immediately and a car had pulled in front of me coming out the gas station to hurry and go around me but I noticed and slammed on my brakes but they gave out and I was still heading straight for them so I turned the wheel trying to miss the car and go up in the drive way that was beside the car so I wouldn't injure anyone else ( I thought id rather hit an object than people or kids could have been in the car and who knows what could have happened ) well my foot still remained pressed all the way down on the brake but the car just wouldn't come to a complete stop so I ended up going front end first into a tree or tree's and it smashed the whole front end.. not entirely but a really good portion but most of the engine still looked good and didn't come in contact.. what do you think the insurance would charge or do to me in this situation if I had full coverage and have had a recent accident in the past year or so on months?? (also im not sure if I do but what if I have collision coverage, what does that change? ) Also my car is a 2011 hyndauii sanata which im still paying a car note for and also how would this affect my policy??
Posted: Wed Dec 02, 2015 10:55 am Post Subject: insurance
You would think that an Insurance Co would eventually 'catch on' to what is being done
Posted: Sun Mar 13, 2016 09:46 pm Post Subject: Policy Lapse
I was in a car accident., which was caused by another driver and as a result there were 3 car collision. I was not charged. However, when I reported my claim to State Farm I was told that my insurance lapsed. I was unaware of this. My preminuim is due on the 20th monthly. I was informed that my preminuim was die on the 20th. What should I do. I am now stuck with a damaged car and medical bills frim the accident.
Posted: Fri Mar 16, 2018 10:20 am Post Subject: Auto Insurance
Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy. Auto insurance provides property, liability, and medical coverage:
Property coverage pays for damage to or theft of your car.
Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.An auto insurance policy is comprised of six different kinds of coverage. Most states require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements. Most auto policies are for six months to a year. Your insurance company should notify you by mail when it's time to renew the policy and to pay your premium.
Posted: Sat Aug 11, 2018 07:18 am Post Subject: Static Vs Touring Insurance?
Hi Everyone!
This is my first post at this forum. Actually, my family is an adventure lover especially my teenager kids who love travel. That's why I purchased a caravan, but I am still confused between static caravan insurance that covers only fixed places and touring caravan insurance that provides Europe cover.
I also want insurance at a reasonable price, and static caravan insurance quotes ( https://www.comparestaticcaravaninsurance.co.uk/faqs/ ) are reliable as compared to touring one. My vote is with static caravan insurance, but my family is still with touring caravan insurance.
What's your suggestion?
Posted: Thu Nov 29, 2018 03:38 pm Post Subject:
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Posted: Wed Jan 16, 2019 03:38 pm Post Subject:
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Posted: Thu Jan 17, 2019 03:06 pm Post Subject:
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Posted: Fri Mar 22, 2019 12:10 pm Post Subject:
No idea about premium related to this insurance!!!
Posted: Sun Apr 14, 2019 03:44 pm Post Subject: Is insurance good?
I will create to analyse companies of insurance how good it is
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