Special Considerations for the Car

Whether you’ve recently inherited a classic car or are an avid collector, it’s clear that one would never treat their vintage Mercedes 180 the same way they would their 2010 Toyota Prius. For this reason and others, such as the fact that many classic car owners only drive their “babies” seasonally, or that there are additional safety concerns due to many classic cars lacking what are now standard safety features (like seat belts, rollover protection and crumple zones), car insurance companies offer special insurance for classic cars. What Qualifies as a Collector Vehicle? According to the Classic Car Club of America, a car must be anywhere between 30 to 49 years […]

These days it seems like consumers switch cars as often as they swap cell phones. According to Experian Automotive, there’s been a large increase in the number of new car sales financed with leases, jumping from just 10 percent in 2009 to 28.4 percent in the last quarter of 2013. Average lease terms have dropped from 42 months to 36, with 24-month leases becoming increasingly common. Leases have become less expensive in recent years, which may explain their growing popularity. Did you know that insurance requirements can be significantly different for a leased vehicle? Total insurance costs may be higher with a lease, which eats into the ‘savings’ of a […]

A car owner might reasonably assume that the more expensive a car is, the higher the insurance rate. After all, replacing or repairing a Mercedes would certainly cost more than a Honda Civic, so the insurance rate should reflect that, right? Yes and no. According to a collection of recent annual reports, expensive vehicles are the most expensive to insure, but the less expensive vehicles aren’t always the cheapest on the list in terms of insurance coverage. What Does Compact Car Insurance Entail? Car insurance for compact cars can include a number of different mandatory and optional endorsements, such as: Liability coverage Underinsured/uninsured motorist coverage Collision and comprehensive coverage Gap insurance Medical coverage These coverage types are generally available for any […]

What initially drew many Americans into the SUV (sports utility vehicle) market was the promise that these cars would be more substantial, and therefore safer, than other types of cars out there. After all, as the commercials for these cars try to assure us, these vehicles are more rugged, powerful, and durable than smaller compact vehicles and luxury vehicles. Unfortunately, studies such as “An Analysis of Traffic Deaths by Vehicle Type and Model” have proven time and time again that these vehicles are just as risky as the average midsize or large car, and they are no safer than most compact vehicles. In fact, that same study revealed that the […]

Some of us are just not satisfied sitting on the sidelines at a NASCAR event. If you’ve bought your own race car, it probably spends most of its time off the track in storage, sitting at the garage getting upgrades, or in transit to the next race. But that doesn’t mean your hot rod should ever be without insurance, regardless of where it’s currently located or how much time it actually spends on the road. While there may be rare instances in which your race car is covered under your standard auto insurance policy, you’ll probably need to significantly upgrade your insurance by purchasing additional ‘motorsports coverage’ to ensure that […]

Own a dirt bike? Dreaming of going snowmobiling when winter hits? If you plan on driving any type of off-road vehicle, you’ll need to invest in an off-road vehicle insurance policy. Take ATVs for example — in 2011, there were a reported 327 deaths due to ATVs and an astounding estimated 107,500 emergency room treated injuries because of 3-wheel, 4-wheel or other all-terrain vehicles. Without insurance, owners can be put into severe financial debt to the point where it cripples them beyond the point of recovery. What’s Considered an Off-Road Vehicle? Your insurer will be able to provide you with an extensive list of off-road vehicles that could require insurance, though […]

Among all of the classes of vehicles, luxury cars are often the most insured, and for good reason. Not only are these cars beautiful, their owners tend to be more affluent and keep them in good condition. These same people may also be more able to afford adequate insurance for their BMW 5 series or Acura TL. Even so, car owners of every stripe have reason to be savvy about their insurance coverage and costs. Given that luxury vehicles cost more than your standard compact car, you might assume that the insurance will also cost more. After all, repairing or replacing that expensive luxury car is going to set the insurance company back a […]

Whether you’re a rock star using your van to haul instruments and people, or using it only for personal reasons, you undoubtedly need insurance on your van. But do you need commercial insurance? Or do you need to insure it like any other vehicle if it’s only for personal use? Who Should Invest in Commercial Van Insurance Generally speaking, personal insurance should be purchased for your vehicle if you’re only going to be using it for social, domestic or personal purposes. A van should have business or commercial car insurance if it’s ever going to be used for any business purpose. Some examples of businesses that would need a commercial […]

The insurance rates and premiums that you’re provided are based on risk. The higher the risk your auto insurance company perceives you as, the higher they’ll charge you in premiums, and similarly, the lower the risk you present to them, the more you stand to gain. This is why those who enter into low mileage insurance coverage plans can save a lot more than those who drive less but unknowingly and unnecessarily select “standard” mileage insurance policies. What Is Low Mileage? Though this definition will change with each policy and company, a vehicle that’s “low mileage” is generally one that travels anywhere from 7,500 to 15,000 miles per year. In fact, […]

For those on super-tight budgets who still need to get around, buying cars with a history of significant damage may be an affordable option. We’re not talking about some dings and scratches here – these are vehicles previously declared as total losses by insurers. “But if they’ve been totaled,” you may ask, “how are they even suitable for resale and use.” The answer is salvage titles. But what are those, and how do they work? Are salvage title vehicles safe, legal and insurable? What Are Salvage Title Vehicles? Cars with salvage titles have previously been ruled total losses by insurers. A car is ‘totaled’ when it would cost the insurer […]

It may be hard to believe, but hybrid cars aren’t quite as new of a development as many think. The history of hybrid cars may date as far as back as 1665, when a Jesuit priest and astronomer created a plan for a small four-wheeled, unmanned “steam vehicle” for a Chinese emperor. A name we all recognize, though, may have really started progression towards the “green” machines we know today — Henry Ford actually began thinking about electric-powered vehicles in 1904, and by 1905, an apparently ahead-of-his-time engineer by the name of H. Piper even filed a patent for “petrol-electric hybrid cars”. Granted, the original plans for hybrid vehicles certainly […]

Flashy cars may come at a flashy price, but that doesn’t mean that your car insurance has to cost an arm and a leg. Though there’s no denying that sports car insurance will cost you more than your standard auto insurance premium, you can still keep these at a minimum. But first, let’s take a look at why car insurance for sports cars is more costly. Why Are Premiums So High For Sports Cars? There are three reasons why sports car owners can expect to pay a higher premium for their insurance compared to owners of a conventional vehicle: Thieves and vandals target sports cars, for the exact same reasons why you […]

Importing cars from other countries has become a hot trend in the United States and abroad, with almost one quarter (23.7%) of cars in the United States being imports from outside of Canada and Mexico (International Trade Administration, 2010). Not only can Americans find imported cars at a reduced price compared to the United States, but there are also a number of other vehicle options out there that don’t exist in the U.S. but do in Europe, Asia and beyond. As the demand for imported vehicles increases, the importing process has improved, but that doesn’t mean that the car insurance world has also caught up. Trying to find affordable car insurance for […]

People have been modifying cars since the very first organized speed trials in Bexhill in 1902. Unfortunately for them, car insurance didn’t exist at the time so any damage to themselves or their vehicle would come directly out of their own pocket. Today, there is car insurance available for cars that have been modified,even if it may take a bit more work than your standard personal auto insurance coverage. More Modified Cars on the Road When we think about modified vehicles, a picture of a car straight out of The Fast and the Furious often comes to mind – or the sound of those “bumblebee” double exhaust systems. And when […]

A large number of Americans purchase high performance vehicles or upgrade their current cars to that categorization without even realizing that they now are the proud owners of what insurance companies will likely consider to be a high performance vehicle. Why is this important? For starters, it can have a huge financial impact on you, namely in the dollar amount in premiums that you’ll pay for your insurance every month. High Performance Car Insurance Costs: Frustrating and Far Too High? A fair estimate that car insurance companies make is that the owner of a Porsche 911 will not always drive the vehicle the same way that one would drive a […]

Have a business and use a vehicle or fleet of vehicles for commercial purposes? Then you may require commercial vehicle insurance to fully protect your company and its assets. While each state has its own regulations as to whether or not a business owner or CDL (commercial driver’s license) holder requires commercial car insurance, this type of insurance is usually a wise investment for business owners as it provides additional coverage with higher liability limits. What Is a Commercial Vehicle? The term “commercial vehicle” is incredibly broad, and can apply to a variety of vehicles such as: Passenger cars and vans Mini vans Ice cream trucks Pizza delivery trucks Landscaping vehicles […]

My brother-in-law owns and maintains something like five cars. He doesn’t have human kids, so I guess he’s taken to fathering the mechanical kind. He’s especially attracted to BMWs. My own brother has a Jeep he drives to work, but also keeps a pickup truck for yard work and other random situations where his regular car won’t cut it. Plus, his wife has her own car. Most families have several cars and drivers in the household. After all, mom, dad and the teen(s) need to get to work and school somehow. Although it would be lovely to pay a single car insurance premium to cover them all, it doesn’t work […]

Sometimes you need a break from the daily grind. So you hop on a plane to paradise where all your worries set sail with the wind. There’s just one small problem—you need a way to travel around. Thankfully, you can rent a car, but what about hurricanes, car thieves, and other drivers? Thankfully, you can get rental car insurance, too. When you approach the rental car counter, the clerk will offer you rental car insurance. Before you waste any cash buying coverage, here is what you need to know: You may already have coverage The rental car clerk will present you with the choice to buy a Loss and Damage […]

So you’ve bought a car that’s new to you. Not only is a used car cheaper than its brand new counterpart, car insurance for your used car is generally cheaper too. Take advantage of the savings by using these tips: First, be sure you check the safety and reliability of your new (used) car. Insurance companies evaluate your risk partly based on your car’s history. Any significant accidents or repairs will drive up your premiums. You can access your car’s history before you buy it through websites such as Carfax.com. The insurance company you choose, however, will evaluate your premiums based on their own claims data, so be sure you […]

Make and model, wheels and paint, features, financing, prices. When you’re shopping for a new vehicle, car insurance doesn’t always leap to mind. But whatever you choose, your new car will need to be insured before you can drive it off the lot, which makes shopping for car insurance a critical part of the new-car-buying process. You should start comparing rates and getting quotes as soon as you have a good idea of the models you’re interested in. The specific car you buy can have a dramatic impact on your insurance rates, and insuring a new car isn’t quite as simple as adding it to an existing policy, even if […]