Filed in archive
Information About
on May 30, 2010
©
bark
My Car Insurance Will Pay My Balance If My Car Is Totaled
An auto insurance company will not pay off the balance of your car payments if your vehicle is totaled. The truth is that they will only pay the value of your car minus any depreciation that has occurred. Since depreciation can occur rather rapidly, you could still owe quite a bit of money, especially if it is a new car. This is what GAP insurance is for. The only kind of car insurance that will pay for the balance is called replacement insurance, which will give you a vehicle similar to the one you purchased. It is considerably more expensive.
I Am Not Responsible If Someone Else Is Driving My Car
This is another myth. The truth is that you are responsible for anyone driving your car. Your insurance does cover them and it will affect your insurance rates if they get in an accident. If you do not think you can trust an individual to drive your car responsibly and still want to keep you affordable car insurance, you better just say no.
Filed in archive
Information About
on May 24, 2010
©
The Infamous Gdub
1. Car color affects the insurance price tag.
The truth is, that it does not matter whether the car is red or not. It will not affect your car insurance premiums. The truth is that your car insurance application does not even ask what the color is. Things that are more apt to affect your rates are whether or not it is a sporty car, such as the model and engine size, and your age.
2. Auto insurance companies can charge what they want.
All insurance industries are regulated by the state in which you live - including the auto insurance industry. The truth is that competition is fierce between insurance companies. If you believe that your car insurance is too high, get several online car insurance quotes and switch to one offering a better deal. Make sure first, though, that it is a real company before you do.
3. I only need the bare minimum coverage for my car insurance.
While having the minimum car insurance is certainly better than nothing, you may find that it is not enough. When driving a vehicle, you are liable for all expenses incurred from accidents or losses. This means that if you do not have enough insurance coverage, that you can be sued for more. Ask your auto insurance agent for recommended amounts of auto insurance coverage to ensure a greater level of protection.
Also, remember that it could be you that is needing the protection, too. Minimum coverage may easily mean that medical payout will not be enough to pay for expenses - and it could be your own family that needs it. This could easily occur in an accident with someone who is uninsured.
Filed in archive
Save Money
on May 23, 2010
©
Jeff Milner
Collision insurance protection pays for your vehicle when there is an accident involved. Comprehensive pays for everything else that is not accident related. This would include theft, vandalism, damage from a flood, from animals, etc.
Neither collision protection nor comprehensive coverage is required by most states. On a newer car, or for a rental or lease, it will most likely be required. The companies concerned want to be sure that they will get their money if the car is damaged or destroyed.
The people that probably do not need this coverage are those with older model cars. Chances are very good that if you are driving a car that is eight or nine years old, that you are paying too much for the coverage. In fact, you may be paying more than the car is actually worth each year that you continue the coverage.
Instead of taking this money and giving it to the car insurance company each month, put it into savings toward getting a new car. The only situation where you might want to continue the coverage would be if buying another car and keeping up with new payments would be a near impossibility.
Filed in archive
Save Money
on May 18, 2010
©
cygnus921
Car insurance is based on the habits and needs of the driver, and this can change over time. For instance, if you drive about 20,000 miles a year in your car in the city, you will pay considerably more than someone will who drives it less than 12,000 miles per year in a rural area. Also, if you live in a high crime area, you can expect to pay more.
Another change that could result in a discount is if you no longer have a teenager at home who can drive your car. This will also result in a major change in your monthly car insurance premiums. If you have added some kind of safety or security device to your car, that will also result in changes in the cost of your monthly payment. A tracking device is good, too. SmartMoney says that "insurance companies are big fans of drivers who take extra steps to protect their cars, and they're willing to reward them with generous discounts."
If you just got married, you can get a car insurance discount if you both use the same insurance company. Other new options in insurance may develop, too, that may mean lower rates.
If you have not checked into prices online and got a few online car insurance quotes, this is a good time to see if you can save even more money. It only takes a few minutes, but it could save you a lot of money.
Filed in archive
Auto Insurance Tips
on May 11, 2010
©
bunnicula
Lori Mandell at AutoInsuranceTips suggests that if it is apt to be a problem to come up with the deductible amount if you have a collision, then you certainly want to have a lower deductible. While it will mean that you pay more each month on your auto insurance premiums, at least you know that there will not be a problem paying for the repairs.
This makes it a better move for some to have a lower deductible rather than taking the risk of not being able to afford to fix the car. In that case, it is almost like investing in your own car and making sure that you have your wheels when the going gets a little rough.
On the other hand, if coming up with $500 or $1,000 is not a problem for you, then it only makes sense to increase your auto insurance deductible to these amounts and bank the money for the deductible. That way, it can earn some interest, too.
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