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At some point you’ve likely compared auto insurance premiums with someone else. You compare cars, number of accidents and violations, coverage options, age and more, yet you still can’t figure out why you pay drastically different amounts. The numerous and varied factors used to calculate insurance premiums make it difficult to compare your price to someone else’s or pinpoint the specific factors influencing your rates. Premiums sometimes seem to be as unique as the individuals they’re established for. The average American pays $797 annually for auto insurance. This average cost fluctuates, but the method insurers utilize to calculate premiums largely remains the same. Insurers analyze and combine the relevant factors […]

Location, location, location. Typically used when referring to real estate, this phrase also applies to car insurance. Although there are a variety of factors that affect your rates, like your driving record, the type of car you have, and how much insurance you purchase, your zip code may play more of a role in determining premiums than you think. Why Does Location Affect Your Car Insurance Rates? Why does your insurance company care which state, town, or even neighborhood you live in? The answer is simple. The insurance industry operates on a risk-based business model. If you live in a state that is prone to severe weather such as snow […]

If you Google the phrase “no deposit car insurance”, you’ll be greeted by roughly 13.8 million results. Those search results suggest just how important price is to auto insurance shoppers. For many, price is the most important factor in choosing a policy. So it’s no surprise that other commonly searched terms are variations of “cheap car insurance” and even “free car insurance.” Hey, it’s free to dream, right? Getting car insurance without a deposit isn’t just a fantasy. It is possible to find insurers/policies which don’t require money down, but whether they are a legitimate option for you depends on a number of factors. Payment Options Without Down Payments Most […]

How much you pay or car insurance depends heavily on where you live. The laws in your state govern how much insurance companies can charge you, and some states do a better job than others at controlling costs. A look at the average cost of car insurance by state can help you see whether you’re overpaying. Statistics on the Cost of Car Insurance The Insurance Information Institute collects information on the cost of car insurance by state. The most recent numbers show that you’ll pay the most for car insurance in New Jersey and the least in Idaho. But the numbers aren’t as simple as one might hope. The study […]

When shopping for car insurance, most people look at price. Eight out of every 10 car insurance shoppers end up going with the cheapest policy. My guess is that the other two are looking for quality in customer service. If you’re one of those that really care about the service you get from your insurance company, you’ll have to take the time to check reviews. Having spent more than a few years chatting with claims customers about their experiences at different insurance companies, I’d like to help you weed out the duds and come up with some of the better car insurance companies for customer service. My Own Customer Service […]

Truthfully, renewing your car insurance policy is a cakewalk. But if you want to save money, you’ll do more than go through the motions, sign a paper, and keep on as you have been. Smart drivers take the time to shop around every year, without fail. Here’s how to make sure you only pay as much as you have to when you renew your auto insurance policy. Loyalty Discounts Not So Valuable As it turns out, the loyalty discount you’ve been clinging to like a life raft might be sinking your savings. The J.D. Power 2014 U.S. Insurance Shopping Study reveals that the longer customers stay with an insurance company, the […]

Lowering your car insurance deductible may sound like a good idea or a bad one depending on your perspective. A higher deductible can save you a lot on your car insurance premiums, but much of the time it will only save you a little. If it saves you a lot, you can sock the savings away in an emergency fund (with interest) to cover the higher deductible should an accident occur. If it only saves you a little, you have to decide how to build that emergency fund or whether you should just keep paying the higher premium. Available Deductibles You can choose car insurance deductibles ranging from $250 to […]

We’re all busy people with too much on our plates, and despite our best efforts sometimes things just slip through the cracks. If you just realized that you’ve let your car insurance policy lapse, you might be nervous about what comes next. Are your rates going up? Will a new insurer even take you? It depends on why your policy lapsed, how long the lapse was, and whether you owe any money on your lapsed policy. Here’s what you can do to minimize the negative repercussions of your mistake. First, Tell Me You’re Not Still Driving! If your car insurance lapses, you shouldn’t keep driving. It’s just not worth the […]

You spend a lot of time choosing the right car insurance company, but what about the agent? Not every agent understands car insurance well enough to do a good job recommending the right coverage for you. And some agents are downright dishonest. When it comes to getting the right coverage at a fair price, it can be just as important to research the agent as it is to research the company. What You Need to Know About Car Insurance Agents Most states do not require any special degrees, training or licensing in order to become a car insurance agent, which is fundamentally a sales position. In fact, most agents only […]

The number of accidents are down, but the number of personal injury claims are increasing. A startling Insurance Research Council (IRC) survey revealed that 35% of Americans believe they have the right to exaggerate insurance claims under some circumstances. Unfortunately, fraudulent car insurance claims raise the cost of insurance for everyone. If you’re not part of the problem, you could be a part of the solution. Car insurance fraud isn’t limited to falsifying or exaggerating claims – it can happen right before your eyes. So how can you spot fraud when it occurs? This article covers some of the most common tricks and traps. Fraudulent Accidents Both individuals and teams […]

Car insurance companies take a number of factors into account when determining your rate–everything from you age, gender and location, to the type of car you drive and your credit score. Your driving record is one of the biggest factors, and getting a lot of traffic tickets will definitely raise the cost of insurance. The reasoning behind this is simple: the more traffic tickets and/or moving violations you have, the more likely you are to get into an accident and cost your insurer money. Though there’s no way to predict exactly how a traffic ticket will affect your rates, you can assume that the impact will be relative to the […]

If you ask me, everything is easier online, except maybe getting a good workout. The web has revolutionized the way we get the products and services we need. When you go online, you don’t have to sit on hold waiting for a customer service representative, you don’t have to take time off work to fit the company’s office hours, and you worry less about running into a poorly-trained worker because everything is automated. It’s not everyone’s cup of tea, but it works for me. When It Makes Sense to Get Quotes Online If this is your first time insuring a car, going online might not be ideal. Talking to a […]

An estimated 85% of car purchases are financed with auto loans, and if you’re thinking about adding yourself to that percentage, insurance may not have yet crossed your mind. Chances are it will though – and it would be challenging to find a lender that doesn’t require coverage, much less one that doesn’t require certain coverage options and amounts. Meeting a lender’s insurance requirements isn’t the only thing to keep in mind when insuring a car you’ve taken out a loan for though. You should also consider what type of coverage you need, how much it will cost, when you need it to come into effect, and who you should […]

Finding the right car insurance can be a daunting task– one that can be simplified by being done online. But is buying car insurance online a safe practice? Let’s take a look at the facts. It is never 100% safe to buy anything on the internet. There is always a chance, however minute, that your private information could be accessed by an outside party. As long as you take the necessary precautions though, you can have a relatively safe online buying experience. A good way to avoid having your information stolen is to avoid visiting suspicious sites. You should only go to car insurance sites that use some type of […]