How Much Auto Insurance Do I Need if I Own a Home

On the face of it, some drivers may be wondering what trying to figure out how much auto insurance to buy has to do with owning a home. It makes sense if you remember that the reason for buying auto insurance coverage is to protect yourself from being personally responsible for paying for the damage you are responsible for causing in an at-fault accident. Ideally, you will want to buy as much auto insurance coverage as you can afford. Limiting your coverage to the minimum level of protection mandated by state law may not be enough to protect the assets…

What Payment Options Do Auto Insurance Companies Offer

Consumers who are looking for auto insurance coverage may be wondering what payment options are available. Drivers will want to find a company which can offer a good level of coverage as well as one which has several payment methods for policyholders to choose from. Each auto insurance company determines which payment methods it will accept. Payment frequency also varies by provider, but most companies will allow a policyholder to arrange to pay his or her premium on a monthly basis. Choosing this option may mean having to pay an administration fee, so a driver will need to consider whether…

How Much Will My Auto Insurance Go Up After an Accident

Drivers who are wondering how much more they will have to pay for auto insurance coverage following an accident won’t be able to find a hard and fast answer to this question. Each insurance company sets the rates it charges to its policyholders independently, based on the level of risk they are prepared to assume on behalf of their customers. Some auto insurance providers offer accident forgiveness for a first at-fault accident to their policyholders. The insurer may charge higher rates to add this extra level of protection to the policy, so a consumer should make a point of shopping…

Will My Auto Insurance Company Raise My Rates if I’m Unemployed

Your auto insurance company rates likely won’t change if you lose your job. If you are unemployed and are unable to pay your bills on time, your credit rating may be affected. In some states, auto insurance companies can pull an applicant’s credit history and use this information as part of their underwriting process. A person who has a lower credit rating may be interpreted as presenting a higher risk to the insurance company and will be charged higher rates for coverage in that instance. Auto Insurance Rates for Drivers Insurance companies use a proprietary formula for determining how much…

Can I Reinstate My Auto Insurance Coverage After Cancellation

The question of whether a driver can reinstate an auto insurance policy after canceling the coverage is one that a number of people may be wondering about. Once a policyholder has instructed his or her insurance company to cancel the policy, the insurer will follow the instructions. If the driver’s need change at a later date, the insurance company will need to issue a new policy. Shopping for Auto Insurance Coverage Before a driver starts looking for auto insurance coverage, he or she should start by considering what type of protection is needed. The driver will also need to consider…

How Does Auto Insurance Work if I Lend My Car on a Long Term Basis

Car insurance coverage follows the vehicle, not the person driving it. As long as the person driving your car does so with your permission, you are allowing him or her to borrow your insurance coverage as well. If you are thinking of allowing someone to drive your car on a long-term basis, you can add that person to your existing policy. Another option is to have the borrower buy a non-owner auto insurance policy. If the person who has borrowed your car is involved in an at-fault accident, your insurance company will pay for the damages caused, up to your…

What is the Cheapest Auto Insurance for a 19 Year Old

Finding the cheapest auto insurance for a 19-year-old driver will take a bit of effort, but it is possible to avoid overpaying for this necessary coverage. The best way to keep costs down is to add the young driver’s name to another driver’s policy. This can be any adult member of the household, including a parent, grandparent or older sibling. If the teen driver is still a full-time student, it’s worthwhile to ask about discounts available to young people who get good grades and who have completed an approved driver’s education course. Auto Insurance Rates for Young Drivers Young drivers…

Can I Sell and Replace My Car While My Insurance Policy is in Force

Car owners who are wondering whether they can sell and replace their car while their insurance policy is in force can put their mind at ease on this issue. You can choose to trade in or sell your car privately at any time you wish. If you decide to make a change, you will need to let your auto insurance company know so that it can take the appropriate action. Auto Insurance Basics Auto insurance is a contract between a driver and the company. The driver agrees to pay a certain amount in premiums and in return, the insurance company…