It is that time of the year again, when you are thankful for everything merry and bright.
May this Christmas be a delight!
Wishing you a Merry Christmas!
December 24, 2008
November 16, 2008
Auto insurance in the US
If you want to have a car on the road you have to have car insurance. Some states even have coverage minimums where you have to have a certain dollar amount of coverage, usually this is called basic coverage.
Basic coverage is also known as liability. This just means that if you get into an accident you will have coverage up to a certain amount (the amount you purchase) if the accident is your fault. Almost everyone has to have liability, unless you have enough money and can prove (in some states) that you are rich enough to not have to carry insurance at all.
Comprehensive and Collision coverage are usually the two you will have to pick up if you still have a lean on your vehicle. Basically if you are still making payments you have to have these coverages. Collision is the coverage you use when you want to use when you get in an accident and you want your car covered for cosmetic damage. This can include the general working parts of the your vehicle.
You see liability is the coverage to cover you when the accident is your fault and you mess up their car. Collision is when you have to pay to get your car fixed. Comprehensive coverage on the other hand is when you are not in an accident and something happens to your vehicle. This would be acts of god, such as a hail storm, a flood, a hurricane, etc.
As you can see all three of these insurance coverages are very useful to cover most situations.
Additionally there are some other factors of insurance you should keep in mind. For instance the deductible. You have probably seen commercials about this, because no one ever seems to be too sure about what deductible to pick. The lowest is usually around $200, or no deductible at all. This means if something happens to your vehicle you will cover the first $200 before the insurance plan kicks in and starts paying. Now you can get a deductible all the way up to $1000 if you want. This will bring down the price of your coverage quite a bit because you will have to pay $1000 if something happens.
On the other hand if you don’t think you will have $1000 on hand if you are ever in an accident you might want to consider a plan with only $200 for a deductible you are going to pay much more for your coverage, because you are responsible for so little in the case where you need to make a claim.
There are some benefits of choosing one auto insurance company over another. For instance if you go with Progressive you can get emergency road service for as little as $14 a year or $7 per 6 month term. When collecting quotes be sure to ask about any other benefits you would get as a client, then factor these into the quotes as well.
For more information visit Mike Anderson’s web site on auto and home insurance.
Mike Anderson
Article originally published here:
http://www.amazines.com/article_detail.cfm?articleid=675006
October 14, 2008
Insurance Credit Score – What You Should Know
What is an insurance credit score?
A credit score is a snapshot of your credit at a specific point in time. Insurance companies use information from your credit history and your insurance application to calculate a specific insurance credit score. Your insurance credit score ranges from 0-999, with a higher number conveying a better score.
How is an insurance credit score used?
If your insurance company relies on credit scoring, it might use your credit score to underwrite and rate your policy.
- Underwriting is the process of deciding whether to issue you a new policy or to renew an existing policy.
- Rating is the process that determines how much you pay for insurance. In addition to using credit information, insurance companies will use other, more traditional rating factors to determine the premium you pay for your auto and home insurance policy. Some of these traditional rating factors include:
- Auto Insurance – driving record, type of car you own, where you live.
- Homeowners Insurance – where you live, cost to replace your home, claim history.
How will I know if my credit history has affected my insurance purchase?
The FCRA requires insurance companies to notify consumers if an adverse action is taken because of their credit information. FCRA defines adverse action to include denying or canceling coverage, increasing premiums, or changing the terms, coverage, or amount of coverage in a way that harms the consumer. If an insurer takes an adverse action due to your credit history it also must notify you of the name of the national credit bureau that supplied the information.
Examples of an adverse action include:
-Canceling, denying or not renewing coverage;
-Giving the consumer a limited coverage form;
-Limiting benefits, such as eligibility for dividends;
-Issuing coverage other than for what was applied;
-Not giving the consumer the best rate;
-Not giving the consumer the best discount;
-Adding a premium surcharge.
For more information visit: http://www.autoandhomeinsurance.org
Mike Anderson
Insurance Consultant
Article Source: http://EzineArticles.com/?expert=Michael_S._Anderson
October 8, 2008
Insurance Quotes – Save Big!
You could save over $500 a year on your auto insurance and even a lot more if
you purchase both auto and home insurance. Switching auto insurance policies
cost you nothing and you get prompt personal attention from leading insurance
companies in your area. It’s really easy to switch!
July 20, 2008
Insurance & Humor series (part 1)
(British) parody of Darth Vader calling his insurance to make a claim on the destruction of the Death Star.
Darth Vader Death Star Insurance Claim
Auto insurance rates continued to rise for the second quarter this year.
On top of rising gas prices the insurance we need for our vehicles isn’t getting cheaper either. Insurance.com’s quarterly Car Insurance Rate Report found that the lowest car insurance quotes, on average, increased 3.4% over the previous quarter, rising from $1,831 per year to $1,893 per year.
The rate report is based on real-time auto insurance quotes given to consumers from more than a dozen insurance companies during the second quarter. It marks the second consecutive quarter of rate increases, following last quarter’s 1% increase, reversing the trend of steady or falling auto rates for the past several years
Get Insurance Quotes
In my previous post I recommended to shop
around for insurance.
For the auto insurance quotes click here.
If you’re looking for a
home owner insurance online quote click here
July 6, 2008
5 reasons that contribute to high monthly premiums
A Low Deductible
Buy an Expensive Car
Add a Teenager or New Driver
Multiple Accidents and Traffic Violations
Failing to Shop Around
July 5, 2008
Expensive gas – cheap insurance!
With ever rising gas prices it’s nice to get some good news.
Mercury General Corp. announced that it will cut auto and home insurance rates for about 1.7 million customers this year, projecting the savings at $61 million.
Most of the savings comes from a 3-percent reduction in auto insurance rates that took effect last month. Mercury, which is the third-largest auto insurance in California, reduced annual rates by about $30 per vehicle for 1.5 million customers.
Mercury also planned to drop its homeowner insurance rates by 10 percent as of August, saving 224,000 customers about $80 to $100 a year, depending on where they live in the state.
Renter insurance rates will drop 33 percent for savings of $80 to $85 a year. Mercury insures 20,000 rental units in California.
“Faced with skyrocketing food and gasoline prices, Mercury’s policyholders won’t have to worry about the cost of their insurance,” Mercury Chairman George Joseph said in a statement.
July 4, 2008
Happy Birthday America!
On July 4, 1777, the night sky of Philadelphia lit up with the blaze of bonfires. Candles illuminated the windows of houses and public buildings. Church bells rang out load, and cannons were shot from ships breaking the silence. The city was celebrating the first anniversary of the founding of the United States …
