So you bought a car...Good! Enjoy your purchase. But here is a list of things to think about after the sale. [...]
by: Mike ScurriaAutomobiles are sizeable investments.
As a car becomes older, its maintenance
becomes increasingly important. There
are many tools that every auto owner
should have. Auto shops can sometimes
charge exurbanite amounts for a simple
fix that could have been done at home
for much cheaper. Having the proper
tools and knowledge will allow any
auto owner to save money, learn
more about their automobile, and
maintain their car. [...]
The upkeep of your vehicle can be
quite an expense - from initial
purchase to insurance to maintenance.
And sometimes we get the sinking
feeling that every time we need a
car repair, we’re going to get taken
for a ride. (pardon the pun!)
Actually there are some ways to
make sure you don’t get a raw deal
when dealing with a local body shop. [...]
quite an expense - from initial
purchase to insurance to maintenance.
And sometimes we get the sinking
feeling that every time we need a
car repair, we’re going to get taken
for a ride. (pardon the pun!)
Actually there are some ways to
make sure you don’t get a raw deal
when dealing with a local body shop. [...]
Consumer advocates says Ontario's auto insurance industry is turning people's pain into record profits with the help of government regulations.
Richard Halpern of the Ontario Bar Association's auto insurance group says profits have skyrocketed since the province made regulatory changes in October 2003.
The current regulations deduct $30,000 off insurance compensation awards and toughens a victim's responsibility to prove real harm after an accident.
Former associate chief justice Coulter Osborne likens the deductible to a "tax on pain." [...]
Richard Halpern of the Ontario Bar Association's auto insurance group says profits have skyrocketed since the province made regulatory changes in October 2003.
The current regulations deduct $30,000 off insurance compensation awards and toughens a victim's responsibility to prove real harm after an accident.
Former associate chief justice Coulter Osborne likens the deductible to a "tax on pain." [...]
For auto insurers, 2008 is shaping up to be another tough year.
Insurance prices are being driven down by tough competition even as accident costs are edging up after years of steady declines. The price of competition is rising, too, with the top insurers spending around $500 million a year to keep their names in front of potential customers.
Allstate Corp., the nation's largest publicly traded auto insurer by market share, says it is poised to outperform its rivals in the toughest auto-insurance market in years. It won't be easy.
Allstate is locked in a fierce battle for U.S. drivers with State Farm Mutual Automobile Insurance Co., Progressive Corp. and Berkshire Hathaway Inc.'s Geico unit. In 2007, Allstate's overall premiums dropped a bit, with decreases in its homeowners business outweighing a 2.1% increase in auto premiums. [...]
Insurance prices are being driven down by tough competition even as accident costs are edging up after years of steady declines. The price of competition is rising, too, with the top insurers spending around $500 million a year to keep their names in front of potential customers.
Allstate Corp., the nation's largest publicly traded auto insurer by market share, says it is poised to outperform its rivals in the toughest auto-insurance market in years. It won't be easy.
Allstate is locked in a fierce battle for U.S. drivers with State Farm Mutual Automobile Insurance Co., Progressive Corp. and Berkshire Hathaway Inc.'s Geico unit. In 2007, Allstate's overall premiums dropped a bit, with decreases in its homeowners business outweighing a 2.1% increase in auto premiums. [...]
You've just bought your morning coffee and you're driving along your everyday route to school. For half a second you take your eyes off the road to change the radio station, and then it happens. BAM! The dreaded car accident your parents warned you about since the day you started driving. Breathing heavily, pulse racing, you may be unsure what to do. No worries, you're alive, and that's what's important.
Count to five and follow these quick tips.
Have insurance information
One of the most important things to do is always keep your auto insurance information in your glove box.
Call for help
If someone is injured, it's important to call 911 so that help arrives quickly.
Know your policy
Review your insurance policy.
If you're unsure of your policy, or don't understand it, talk to your parents or call your agent and/or state insurance department.
Be sure to file a claim with your insurance company the same day the accident occurs. [...]
Count to five and follow these quick tips.
Have insurance information
One of the most important things to do is always keep your auto insurance information in your glove box.
Call for help
If someone is injured, it's important to call 911 so that help arrives quickly.
Know your policy
Review your insurance policy.
If you're unsure of your policy, or don't understand it, talk to your parents or call your agent and/or state insurance department.
Be sure to file a claim with your insurance company the same day the accident occurs. [...]
So you have multiple credit cards and some have a zero balance. Would the extra credit cards negatively affect your credit score? And increase your car insurance rate in the process?
What is the "magic" number of credit cards you should have?
Here is a great article that answers these questions and more.
After more than five hours of testimony and deliberation on Colorado House Bill 1389, the House Business Affairs and Labor Committee has amended a controversial bill that insurance associations said would have imposed a prior approval regulatory system on insurance. The amendment exempts automobile insurance from the legislation. The bill now is headed for the House Appropriations Committee. [...]
If you're single, you're probably accustomed to a little nagging from your friends and family. Maybe you've also got a concerned therapist, boss, or mailman who can't understand why someone as fabulous as you isn't paired up. Now here comes someone else to drive you crazy: those folks at your auto insurance company.
Since April 1, insurers have been competing for our business and offering discounts to nab the customers they want most. And, according to a report by two consumer groups, they want married people. The report says (though the insurance industry denies) that with competition, singles will see their premiums rise and married couples will see theirs fall – driving records notwithstanding. So, if you're single, slowing down and perfecting your parallel parking will not earn you a rate break. You'll need to get married for that. [...]
Since April 1, insurers have been competing for our business and offering discounts to nab the customers they want most. And, according to a report by two consumer groups, they want married people. The report says (though the insurance industry denies) that with competition, singles will see their premiums rise and married couples will see theirs fall – driving records notwithstanding. So, if you're single, slowing down and perfecting your parallel parking will not earn you a rate break. You'll need to get married for that. [...]
Ever wondered about these?
- Car colour affects your premium?
- Two-door vehicles cost more to insure than four-door models?
- Parking tickets will affect your insurance rate? [read more]
MASS DRIVERS LOVE NEW AUTO INSURANCE WEBSITE
The state's Web site that gives motorists a place to compare automobile insurance rates does not give consumers accurate price comparisons, Attorney General Martha Coakley said Tuesday.Officials cautioned consumers about relying upon rate information obtained from the commonwealth’s Division of Insurance's Web site InsureMASS. A letter sent Tuesday from the attorney general’s office to the commissioner of insurance expressed concerns that the Web site does not allow for accurate price comparisons for the majority of consumers. [...]
Legislation requiring Colorado auto insurance consumers to purchase mandatory medical benefits coverage is unnecessary and will drive up insurance rates for all consumers, according to the National Association of Mutual Insurance Companies (NAMIC).
“Insurance consumers should not be forced to purchase insurance coverage they can currently purchase voluntarily if they so desire,” said Christian J. Rataj, Western state affairs manager for NAMIC. “Each person should have the legal right to determine how best to address his or her health insurance needs, including what type of medical benefits coverage to purchase, the amount of their deductible or co-payment responsibilities, and the scope of the coverage benefits.” [...]
“Insurance consumers should not be forced to purchase insurance coverage they can currently purchase voluntarily if they so desire,” said Christian J. Rataj, Western state affairs manager for NAMIC. “Each person should have the legal right to determine how best to address his or her health insurance needs, including what type of medical benefits coverage to purchase, the amount of their deductible or co-payment responsibilities, and the scope of the coverage benefits.” [...]
Online car insurance customers looking for a little R-E-S-P-E-C-T, don't have to look any further than progressive.com according to a recent study by The Customer Respect Group (CRG). The group ranked Progressive #1 for positive Web-based customer experiences.
Progressive earned a 7.5 on a 10-point scale - an "Excellent" rating - on the Customer Respect Index, which measures customers' online interactions with a company. The auto insurance industry as a whole earned a 5.5 rating. CRG called progressive.com "strikingly interactive and innovative" thanks to its RSS feeds, blogs and other features. [...]
Progressive earned a 7.5 on a 10-point scale - an "Excellent" rating - on the Customer Respect Index, which measures customers' online interactions with a company. The auto insurance industry as a whole earned a 5.5 rating. CRG called progressive.com "strikingly interactive and innovative" thanks to its RSS feeds, blogs and other features. [...]
WHY CHOOSE AIG AUTO INSURANCE?
AIG Agency Auto, a division of the personal lines property and casualty insurance subsidiaries of American International Group, Inc. (AIG), today announced it has entered the New Jersey marketplace to offer personal auto insurance to New Jersey drivers through independent insurance agents.To learn more about AIG Agency Auto product offerings and services, and how to gain an agent appointment, visit http://www.aig4auto.com. [...]
COMPARISON SHOPPING COMES TO MASS DRIVERS
The state Division of Insurance's new auto insurance Web site apparently has been popular with consumers, generating an average of about 19,500 hits a day since its launch a month ago.
But the InsureMASS site, which is designed to be a roadmap to help navigate the competitive insurance market that begins here next month, isn't winning any popularity contests in insurance industry circles.
The Web site does offer a useful database of insurance agents. But drivers who log on to the site will most likely focus on its insurance premium comparison tool.
That rate comparison system has created plenty of buzz among insurance agents, although it's probably not the kind of buzz that Insurance Commissioner Nonnie Burnes would have wanted. [...]
California Insurance Commissioner Steve Poizner has ordered Allstate Corp., which covers about one out of every 10 insured cars in the state, to cut its automobile rates by 15.9% -- an average savings of $124 per car, according to state regulators..
The order, which came at the close of a lengthy proceeding before an administrative law judge, was more than twice what the Northbrook, Ill., company wanted to grant its policyholders. Allstate is considering whether to appeal the rate cut order.
"California's consumers deserve a competitive marketplace in which to shop around for the best rates that meet their needs," Poizner said in a statement. "This reduction reaffirms my commitment to ensuring that excessive rates are not charged. At the same time, the rate reduction is fair and reasonable for the company." [...]
The order, which came at the close of a lengthy proceeding before an administrative law judge, was more than twice what the Northbrook, Ill., company wanted to grant its policyholders. Allstate is considering whether to appeal the rate cut order.
"California's consumers deserve a competitive marketplace in which to shop around for the best rates that meet their needs," Poizner said in a statement. "This reduction reaffirms my commitment to ensuring that excessive rates are not charged. At the same time, the rate reduction is fair and reasonable for the company." [...]
Consumers have been researching and comparing auto insurance quotes online for a few years now, but lately the process of getting quotes and purchasing policies been on the rise.
In 2007, just over 32 million consumers requested auto insurance quotes online, compared to 28 million the year before. That’s a rise of around 15%. The percentage rise in the number of policies purchased was greater – rising 37% from 1.5 million in 2006 to 2 million last year. [...]
In 2007, just over 32 million consumers requested auto insurance quotes online, compared to 28 million the year before. That’s a rise of around 15%. The percentage rise in the number of policies purchased was greater – rising 37% from 1.5 million in 2006 to 2 million last year. [...]
BENEFITS OF GEORGIA SENATE BILL 276
On Monday, a House subcommittee and later a committee agreed to tack an amendment onto a fairly innocuous Senate bill an amendment onto a fairly innocuous Senate bill. The amendment would let insurers raise rates on all but the minimum required coverage without having to first get approval from State Insurance Commissioner John Oxendine.On Thursday, the House passed the amended bill 141-3 with little discussion. The sponsor told his colleagues what the original bill did, but didn't explain fully the changes and didn't answer questions. Less than two hours later, the measure won final passage in the Senate 43-10 while insurance lobbyists stood outside, shaking hands.
The bill now heads to Gov. Sonny Perdue for his signature.[...]
We wanted to find out from an insider exactly what goes into those prices and what we can do to keep our car insurance costs down. We talked to Patrick Lawson, a 25-year veteran auto insurance agent.
Have you ever wondered how they come up with these numbers? Lawson mentioned the common factors like age, sex, car type and driving record but also noted a new, little known factor. "Companies are now, of all things, checking credit because people with poor credit, statistically, can be susceptible to more claims," he said. [...]
Have you ever wondered how they come up with these numbers? Lawson mentioned the common factors like age, sex, car type and driving record but also noted a new, little known factor. "Companies are now, of all things, checking credit because people with poor credit, statistically, can be susceptible to more claims," he said. [...]
In a recent study, Progressive Insurance found that bikers who buy new motorcycles are nearly 70 percent more likely to crash than riders who keep the same bike.
"Most people already know that riding can be especially dangerous for new bikers," said Rick Stern, a Progressive motorcycle product manager who's also a rider. "But our data shows that the less familiar you are with your bike, the more likely you are to be involved in a collision regardless of your experience."[...]
"Most people already know that riding can be especially dangerous for new bikers," said Rick Stern, a Progressive motorcycle product manager who's also a rider. "But our data shows that the less familiar you are with your bike, the more likely you are to be involved in a collision regardless of your experience."[...]
Profit from selling policies at car insurer Geico Corp. fell 49 percent to $158 million before taxes as claims costs rose and the company increased its advertising budget. Geico added 120,000 new policyholders in the fourth quarter, after cutting prices to compete with companies including Progressive Corp., which also reduced rates last year to customers that it reaches over the phone and Internet. [...]
Many drivers in Nebraska should see lower car insurance rates because there have been fewer accidents.
State Farm insurance says its auto insurance rates in the state were 18% less expensive at the end of 2007 than they were at the end of 2003.
The decrease in Nebraska was the 11th biggest decrease in rates that State Farm reported. The biggest rate decrease of 29% came in New Jersey between 2003 and 2007.
Nationwide, the company's auto insurance rates fell nearly 15% between 2003 and 2007. [...]
State Farm insurance says its auto insurance rates in the state were 18% less expensive at the end of 2007 than they were at the end of 2003.
The decrease in Nebraska was the 11th biggest decrease in rates that State Farm reported. The biggest rate decrease of 29% came in New Jersey between 2003 and 2007.
Nationwide, the company's auto insurance rates fell nearly 15% between 2003 and 2007. [...]
IS GEICO INSURANCE REALLY NUMBER ONE?
Auto insurance rates at State Farm have dropped four consecutive years and while Tennessee's has decreased as well, it's near the bottom in terms of savings.Tennessee's State Farm auto insurance rates declined 7.1 percent from Jan. 1, 2004 to Dec. 31, 2007, the 45th best among U.S. states and territories. [...]
CANADA LAWMAKERS MAY RAISE INSURANCE
Albertans who suffer soft-tissue injuries in auto accidents can now seek damages over $4,000 -- though how long they'll be able to do so is uncertain.The judge who dealt a blow to the Alberta government's 2004 auto insurance reforms dismissed a government application today to put the decision's impacts on hold until an appeal is heard.
It was a little more than two weeks that Court of Queen's Bench Associate Chief Justice Neil Wittmann concluded it was unconstitutional to have a $4,000 cap on compensation for people who suffer soft-tissue injuries in car accidents. [...]
A 23-year-old Camarillo resident has been charged with felony auto insurance fraud, Ventura County District Attorney Greg Totten announced Thursday.
David Glen Snader reported his car stolen Sept. 28 and filed a stolen vehicle claim two days later with his insurance company, Esurance, according to detectives from the Ventura County Auto Theft Task Force.
However, one week earlier, a Ventura County sheriff's deputy found Snader's car abandoned in a Camarillo parking lot. The car was then towed to a nearby lot, according to the District Attorney's Office.
The car was still in the lot when Snader claimed that he last drove it. [...]
David Glen Snader reported his car stolen Sept. 28 and filed a stolen vehicle claim two days later with his insurance company, Esurance, according to detectives from the Ventura County Auto Theft Task Force.
However, one week earlier, a Ventura County sheriff's deputy found Snader's car abandoned in a Camarillo parking lot. The car was then towed to a nearby lot, according to the District Attorney's Office.
The car was still in the lot when Snader claimed that he last drove it. [...]
SUPERHERO WARREN BUFFETT SAVES THE DAY
Five former insurance company executives were found guilty Monday of a scheme to manipulate the financial statements of the world's largest insurance company, American International Group Inc.The defendants, including four former executives including a onetime CEO of General Re Corp., and a former executive of AIG, sat stone-faced as they were convicted of conspiracy, securities fraud, mail fraud and making false statements to the Securities and Exchange Commission.
General Re is part of Berkshire Hathaway Inc., which is led by the billionaire investor Warren Buffett.
In their closing statements, defense attorneys repeatedly invoked the name of the widely admired Buffett in arguing there was no wrongdoing and only a routine deal between AIG and Gen Re.
Buffett was not charged with any wrongdoing and did not testify at the trial. [...]
WHY CHOOSE AIG FOR YOUR AUTO INSURANCE?
Completing an auto insurance quotecomparison is a smart way of obtaining competitive rates. Doing so usually
involves having to contact multiple companies individually to request
quotes which can be quite a time consuming process and can quickly become
frustrating.
In today's world of technology, auto insurance has combined nicely with
the internet allowing consumers to compare rates online, complete extensive
research and even purchase a policy online. What took hours a few years
ago, now only takes minutes thanks to online technology. Consumers can log
into websites like http://www.OnlineAutoInsurance.com to obtain instant
online auto insurance quotes from a variety of carriers such as
Progressive, Infinity, AIG and other leading carriers with one simple
process. [...]
SAVING ON CAR INSURANCE WHEN YOU TRAVEL
With so many options at the car rental counter, it may be tempting to buy whatever insurance protection is available to safeguard your trip. But many travelers don't realize they're more than likely duplicating coverage they already have.Not only does a driver's insurance policy protect against theft or damages to a rental vehicle, but often so does a major credit card used to pay the rental fee.
The best thing to do is to call your insurance agent and credit card company in advance. Just because you've used a gold or platinum card in the past, don't assume that it still offers the same protection plans — the cards' insurance benefits can change. [...]
WHERE YOU LIVE DETERMINES WHAT YOU PAY - IS THAT FAIR?
Good news for Michigan motorists who are involved in accidents.The state Office of Financial and Insurance Services has prohibited insurance companies from denying coverage to policyholders who don't get their vehicles inspected by insurers within a certain number of days following an accident. [...]
PROGRESSIVE VS. GEICO CAR INSURANCE
The claims-processing method practiced in service centers opened by The Progressive Group of Insurance Cos. in 54 markets across the country, including Amherst, now has patent protection.
The service centers allow drivers to receive a "concierge" type of claims service in which Progressive takes responsibility for the vehicle claims and repair process following a crash.
Using the Progressive method of claims processing, the driver reports the claim, drops off the car and drives away in a rental car. Progressive then writes an estimate for the damage and contacts a repair facility to pick up the car and fix the damages. Once the car is repaired, it is returned to the center, the repairs are inspected and the customer is notified. When the customer returns, he or she picks up the car and drives away knowing that the repairs are guaranteed by Progressive and the shop.
The insurer received a patent for this process of dealing with vehicle damage claims at the end of January. The process also was recognized for fast claims resolution by J.D. Power and Associates 2007 Insurance Claims Study. [...]
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