Pennsylvania Auto Insurer Wins First J.D. Power Award
July 30, 2008
The Erie Insurance Group, operating out of the city of Erie Pennsylvania, is only the number 16 US automobile insurance provider in terms of its size and revenue, and only America’s number 21 provider of home and accident insurance. However, the worldwide marketing research and consulting company J.D. recently announced that Erie Insurance has achieved a number 1 rating in, many would argue, a much more significant domain. The Erie Insurance Group just won J.D. Power and Associates’ “Highest in Customer Satisfaction” award for auto insurance providers. Read more
Allstate Worst US Insurance Company, Lawyers Say
July 30, 2008
The American Association for Justice (AAJ), an organization representing the concerns of lawyers mostly working for plaintiffs in civil trials, gave Allstate its lowest rating today in its study of US insurance companies. This statement comes on the heels of a long history of legal conflict between Allstate and its customers, who have been taking to court their demands for allegedly wrongfully withheld claims. The AAJ asserted today that Allstate is the worst insurance company in the country, based on the rates it charges its customers and its unfair treatment of many customers.
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Drivers Turn To Fraud To Help Make Ends Meet
July 28, 2008
The Association of British Insurers has announced recently that motor insurance fraud has taken a staggering leap this year due in large part to the credit crunch. Strapped for cash, drivers are turning to fraudulent claims as a way to get some much needed dollars. The risks associated with making a fraudulent insurance claim seems to be worth it for those drivers who report their vehicle damaged or even stolen.
The amount of these claims has jumped to 70% over the last four years which is alarming to industry experts. Largely due to a record amount of consumer debt and the lack of available credit lines this jump translates to 24,000 false claims from the 14,000 recorded four years ago. Read more
Why Should You Have Renter’s Insurance
July 27, 2008
A simple act of neglect may be the reason for some renter’s lack of insurance to protect their valuables. An oversight of the necessity for protection in this day and age can result in losses of many of our most important possessions. The landlord usually doesn’t mention insurance or offer to insure the renter’s valuables so consequently, the renter is responsible for insuring his own apartment contents. Read more
Obtaining Homeowner’s Insurance At A Reasonable Cost
July 25, 2008
You work hard to provide a nice home for your family and it can take a good deal of money to give them a safe environment to live and play in. Homeowner’s insurance is high and many people are paying more than what may be necessary for their home’s protection. There are some ideas which have proven to be helpful in getting less expensive coverage.
One factor that can help lower the cost of homeowner’s insurance is having your home located in a safe area. The likelihood of having a dangerous situation arise in the area where you live is something that the insurance companies take into consideration when your policy is written. Being in a safe area refers to how close you are located to a fire station or fire hydrant or a police station. Read more
New Auto Insurance Policies for Teenagers
July 18, 2008
A new phenomena is happening in the auto insurance world, some company’s are actively seeking out what were once considered only one step behind Nascar racers and Hollywood stunt drivers in terms of risk, .. The teenager.
Drivers aged under 20 make up just 6% of the total number of drivers on US roads. They also account for over 13% of all fatal accidents. The figures are however declining with 8% less accidents resulting in death during 2006. Read more
Renter’s Insurance Quotes
July 16, 2008
People who rent a place to live need insurance just like homeowners do. Before buying a policy, you would be wise to take the time to do some research first. That way, you can be certain that all of your personal property is well protected as well as being covered against a lawsuit if someone were to injure themselves on the property that you are renting and decided to take you to court. The best way for you to find out what the different insurance companies are offering is to get a quote from several of them. Read more
Motorcycle Insurance
July 15, 2008
Anyone who owns a motorcycle needs to think about getting motorcycle insurance. Many states in the US require you to have at least liability coverage, but some states do not. To be safe, it’s a good idea to check with your insurance agent to see what your state requires. If you live in one of those 45 states that requires liability insurance, it is in your best interest to take out a policy.
You may think you are a very good and safe driver and could never cause a collision, but accidents happen every day. That’s why they are not called on purposes! No one means to have or cause an accident, but causing one without liability insurance can cost you a lot of money for the other party’s medical bills, auto and property damage, lost wages and more. Read more
Causes Of Higher Life Insurance Premiums
July 14, 2008
If your insurance premiums are rising, there are some facts, which do contribute to the rises in the costs of insurance. Living a lifestyle that is considered to be low risk and if your health is good then you may be in a position to have lower insurance premiums. An unforeseen change in either one of these conditions can, however, cause a rise in the premiums. There are some factors you need to consider when you are looking for a life insurance policy. You will need to know how these factors will affect your insurance premiums and if there is anything you can do to control the effects. Read more
Credit History And Auto Insurance
July 12, 2008
These days many insurance companies base their auto insurance premiums, at least partially, on your credit rating and history. If you have managed to diligently build up a good and solid credit rating, then you probably be able to find considerably lower auto insurance rates.
Of course, to achieve a solid history with the credit bureaus takes a considerable amount of time and effort. You have to always ensure that all of your utility and other bills are kept totally open to date. Your credit card and other debts have to be very much under control, with good steady payments, and a balance that never exceeds two thirds of your available credit line. Read more
Home Insurance Companies’ Computerized Models Yield High Rates
July 8, 2008
Hurricane Andrew, in 1992, brought havoc on Florida homes and on insurance companies, with over $15.5 in reported damages. Many home insurance companies couldn’t pay up and went out of business. Ever since, insurance companies have started to use specialized computer programs to try to predict hurricanes in coastal areas–instead of using the old method, of looking at an area’s past disaster statistics in order to determine rates. Read more
Avoiding Private Mortgage Insurance
July 8, 2008
The 20% down payment needed to purchase a home can be very difficult for some first time buyers to come up with. Quite often, it will be necessary for the homebuyers to get some type of private mortgage insurance in order to buy their house. Private mortgage insurance can be of great assistance in bypassing this first obstacle in your transaction, but it can create others. Your house payments will be higher each month and you won’t be able to deduct the difference when you file your taxes. While most homebuyers would like to avoid these problems and the 20% down payment, how do they avoid using private mortgage insurance? Read more
MetLife Adds New Feature To Group Insurance Package
July 7, 2008
MetLife is biggest life insurance company in America. It is also America’s top purveyor of group life insurance to company employees. Today, MetLife announced an improvement its group life insurance program, intended to serve company employees. The company’s Term Life, Group Universal Life, and Group Variable Universal Life group life insurance plans now have an additional standard feature: estate resolution services. This feature is intended to make easier and cheaper the complicated and often expensive process of sorting out a deceased employee’s possessions. Read more
Mobile Home Insurance
July 6, 2008
Lots of people who are not familiar with the world of mobile homes are surprised to find out that there is such a thing as mobile home insurance. Yes, just as there is insurance for regular homes, so is there insurance for those who dwell in a mobile home. If you are looking to purchase a mobile home insurance policy, you need to make sure of exactly what kind of policy you are getting before you agree to buy. It stands to reason that you are going to look for the best price on a policy you can find, as most people do. What is more important than the price is the coverage that you are getting for that price. Read more
Seeking Advice On Your Auto Insurance Policy
July 4, 2008
Vehicle insurance is intended to cover you and your passengers, other vehicles and their occupants, as well as other people and property your vehicle may be involved in an accident with. However, having said that, there are different options with many variations for you to choose from. There are endless combinations of cover you may want to consider. Do you want your children to be able to drive the car, or not? Do you want any passengers covered, or just your own family? Read more
How To Buy And Use Your Auto Insurance Policy
July 3, 2008
It is a much better policy to understand your auto insurance, and how it works up front. To save you some cash, and so you don’t think that you are insured for certain items when in fact you are not.
The first option is to not pay your renewal when it arrives. The insurance company banks on you not being interested in spending time looking for a new insurance company. That is why your renewal quote is probably not competitive. So look around for the best quote available, you could save as much as 50% by shopping around. It is also not true that smaller companies offer the best premiums; big companies can often be very competitive.
If you have an older vehicle that is not very valuable, collision insurance is probably going to be a waste of money, stick with basic insurance. You should also ask you agent about diminished value, your insurance company may think that your vehicle is worth a lot less than you think it is. You should be sure to ask your agent what are your states legal regulations are for diminished value.
A good credit rating is a valuable asset for many things in life, including auto insurance; a good credit rating will help to lower your premium. Don’t keep your teen or young driver on your insurance if they are away at college or no longer drive your car for some reason. Young drivers can be the most expensive to insure, so don’t put them on the policy unless you have a real need to do so. Ask about the claims process before you sign the paperwork, not when you have an accident. Make inquiries as to if they insure for generic or original spare parts, and also how their claims process works.
If you have an accident call the agent immediately if you can. Even from the scene of the accident, you may only have as little as 48 hours to put in your claim so don’t leave it until later. Keep a good record of your claim; make a note of everything, especially at the scene of the accident. Note names, vehicle numbers, anything anyone says, and anything that may help you later. Don’t waste time, get estimates, chase the company, don’t leave things ‘until next week’, insurance companies move slowly so you need to harass them.
Don’t forget to claim everything back from the insurer, items like registration fees and sales tax, they will not remind you, so make sure you file a very full claim. Deal politely but firmly with the loss adjuster, get everything in writing, things he may say, mean nothing. If you think it’s unreasonable, reject their first offer of compensation. One of the reasons insurance companies take so long to pay out, is so that you will become frustrated and accept what they offer you. If the company refuses to budge on settlement, ask for arbitration it is a lot quicker and cheaper than an actual court case.
Very carefully consider any deductable, you may think $750 would be a lot to find if you had an accident.
However, it also lowers your premium; this would be a good thing to discuss with your agent.
Unless you are wealthy, your auto insurance will probably end up as a trade off. You will try to get the most coverage for the money you can afford. But keep in mind, reducing your liability to lower your premium is good in the short term. However, what happens if you have a serious accident and you get hit with a huge lawsuit?
- Consider a home and car, umbrella policy that or a few hundred dollars, can cover you for liability claims of up to a million dollars.
- Enquire about available discounts; you may be entitled to a break on your premium for all kinds of reasons. Such as if, you garage your car overnight, if you are a low mileage user. You may have an alarm, more than one vehicle, or some other situation that can lower your premium; you need to ask what is available.
- Use an independent agent to look for insurance for you. They are in a better position to know where to look for the best quotes. It’s what they do for a living if they can’t find you a good quote they don’t make any money.
- Make sure that your agent is not affiliated with one or two companies; you need independent, un-biased options, to save you money.
- Use an online auto insurance agent instead of your local small or large company. Online agents don’t have fancy offices or a booth at the shopping mall. They have low overheads that save them huge amounts of money. In return, they can be more profitable, and some of this profit can be funneled back to you, the client, as lower auto insurance premiums. That’s why you should always use an online agent for auto insurance quotes.
Recent additions:
- Auto insurance premiums are only half the deal
- Understanding Your Auto Insurance Policy
- Finding Reasonable Auto Insurance Rates On The Web
- General Information On Hybrid Cars
- Are Gas Rebate Cards A Good Idea?
- Are Car Donations a Blessing or a Curse During Economic Hardship
Auto insurance premiums are only half the deal
July 1, 2008
With so many different provider choices for auto insurance, how do you go about selecting a suitable company and policy? With auto insurance, you are buying coverage against the risk of accident or theft. You will want the insurance coverage to pay out for any claims such as, loss of life, bodily injury, vehicle damage and medical care, if the situation was caused by your fault. Read more
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