Auto Insurance Savings Tips

Auto insurance can be ridiculously expensive if we let it! As we discussed yesterday, one person might be paying $585 a year, while another pays over $2,000! So what is a driver to do if he or she wants to chip away at these exorbitant prices? Strategies For Reducing Auto Insurance Premiums You could shop around. Now is as good a time as any to take a look at what another auto insurance provider might offer you. Every company looks at different factors to come up with your total premium. (For your convenience, you can search free quotes right from…

Auto Insurance Payments Are More For The Poor, CFA Says

A new study by the Consumer Federation of America found that America’s poor are being overcharged for their auto insurance. These findings apply to 40 percent of Americans with annual incomes below $40,000. The CFA says they were legitimately surprised by how badly auto insurance companies treated their low-income clientele. How Much More Do The Poor Pay For Auto Insurance? Each state has its own minimum liability coverage law, but there are many other factors that can drive up a person’s auto insurance costs, including type of vehicle driven, age, and driving record. Unfortunately, many safe drivers who have no…

New York Department of Motor Vehicles Guide To Auto Insurance

The average cost of auto insurance in New York state is $1,431 — which is #23 in state rankings — according to Insure’s annual survey. Yet, you can get below-average premiums just by shopping around for free New York auto insurance quotes on our site. That being said, you want to make sure you know the law before you shop for insurance. Here is what the New York Department of Motor Vehicles has to say about local auto insurance rules, requirements, and penalties. New York Minimum Insurance Requirements To register your vehicle in New York, you must buy the minimum liability…

How Does Credit Score Affect My Auto Insurance Rates?

Did you know that there are 46 states that look at your credit score before determining your auto insurance premium? Only California, Hawaii, Massachusetts and Maryland are exempt, in fact. The reason auto insurers look at your credit score is that many companies believe people with better credit tend to get into fewer accidents and engage in less risky behaviors. Other Factors In addition to your credit score, an auto insurance company will also look at the type of vehicle you’re driving, your age, where you live, what safety features are installed on your vehicle, and your past history of tickets /…

7 Most Common Auto Insurance Claims & What They Cost

Learning about the most common auto insurance claims can save you money. Since auto insurance premiums are based on the total pool of drivers and all the claims filed with a particular company, rates can vary dramatically from provider to provider — but can also be lowered if each driver takes precautions against the risks.  #7: Animal Collisions According to MSN Money, the average cost of damage from hitting a deer is $3,171. #6: Vandalism According to eHow, the average cost of cosmetic damage by vandals is $100-$300, so many people pay out-of-pocket for these expenses, rather than deal with…

Driving With Pets: What Your Auto Insurance Covers

Colorado motorist Marcia Pinkstaff was horrified to hear that her 9-year-old lab mix was “totaled” and declared “a complete loss” by her auto insurance company. “I don’t see how you could total out a family pet,” she told Channel 7 Denver. Yet, when her dog was struck by a mini-van  — injuring her lungs, liver and diaphragm — Farmers Insurance agreed to pay for the initial trip to the veterinarian and one follow-up exam, but nothing more. They even offered to pay for a replacement dog! According to an unnamed industry spokesperson, dogs are covered in the “property” portion of…

California Auto Insurance Basics

Whether you’re driving down the breathtaking Highway 1 or “getting your kicks” on Route 66, driving in California is a wonderful privilege. Yet, each state carries its own unique set of auto insurance requirements, rules and guidelines. Here is everything you need to know about California auto insurance. Minimum Requirements According to the California Department of Insurance, you must meet the following minimum auto insurance levels: $15,000 per person for Bodily Injury Liability $30,000 per accident for Bodily Injury Liability $5,000 per accident for Property Damage Liability If you do not want to pay California auto insurance premiums to buy…

Total Loss Accident: What Will My Auto Insurance Cover?

You’re driving down a snowy road in your 2008 Chevy Cobalt, when suddenly, your car slides out of control and into a telephone pole! Now what? Your first feeling may be that you’re lucky to be uninjured, yet devastated over the smashed-up state of your vehicle! Knowing what your auto insurance will cover can remove a huge burden from your shoulders. Total Loss Accident: How Do Insurance Companies Decide? Your auto insurance company will look at the cash value of your vehicle (which can usually be found in the Kelley Blue Book online at www.kbb.com). They will also look at the…