Auto Insurance Myths

There is a lot of misinformation about auto insurance circulating around. Chances are, you’re not even sure where these false beliefs come from, but you’re not alone in your thinking. Having a realistic view of what your auto insurance policy does or doesn’t cover will protect you from a costly misunderstanding down the road. Myth #1: The color of your car affects insurance cost. A Progressive Insurance survey found that 25 percent of drivers mistakenly believe that red cars are more expensive to insure. However, you’ll find that color does not even come up when you are applying to get…

Auto Insurance Tips: What To Do About An Uninsured Motorist

You may be the type of person who plans for everything. Perhaps you drive an expensive car and you have top-of-the-line auto insurance. If you ever caused an accident, you are certain that everything would be perfectly covered. However, what if you are slammed by an underinsured or uninsured motorist? Some people choose to purchase additional uninsured or underinsured motorist coverage to cover the difference in medical costs and property damage repair that is not caused by the other driver’s liability insurance policy. For Example… Say you get into an accident that totals your $25,000 vehicle. However, the underinsured motorist…

Mandatory Auto Insurance Coverage In Ohio

Driving is a privilege, not a right. Therefore, Ohio drivers must carry insurance and proof of financial responsibility. Ohio auto insurance law stipulates that you must buy Bodily Injury Liability coverage, as well as Property Damage Liability coverage, to pay for any accidents you may cause while driving. You must carry your updated state insurance card with you in your vehicle at all times. Minimum Ohio Auto Insurance Coverage Every state has its own mandates, but Ohio requires you to have at least $12,500 per person for Bodily Injury Liability Coverage, at least $25,000 in coverage per accident, and at…

What Does Auto Insurance Cover?

The most important part of your auto insurance coverage is the medical component. In the event of an accident, you want to know that all the human beings involved will have their hospital and treatment charges paid for by your auto insurance company. Once you understand what your current policy covers, you may want to fill out a quick quote form to get instant access to better rates on your auto insurance that may give you more coverage for less. How Am I Covered In Auto Accidents? In most states, something called “MedPay” will make sure that you and your passengers…

How To Save Money On Auto Insurance

It may surprise you to learn that you can save hundreds of dollars on your auto insurance just by shopping around. Yet, it truly is a buyer’s market. There can be hundreds of insurance providers in your state — all with their own set of rules and rates. The best way to pay less on auto insurance rates is to be an all-around model citizen. Practice safe driving techniques, choose a higher deductible, and maintain a good credit score to show that you can be trusted. Here are 5 more ways to save on auto insurance: 1. Bundle Your Insurance!…

How To Fight A Speeding Ticket With Your Auto Insurance Company

“How will this ticket affect my auto insurance?“ This is one of the first thoughts that will go through your mind after a traffic infraction, especially as you begin to think about how much a moment of carelessness will end up costing you. Unfortunately, there is no easy answer as to how much your auto insurance might creep up after you receive a ticket. Factors That Will Affect Speeding Ticket Costs Every company has its own policy regarding traffic tickets. You might see a rate hike for three years or for one year (providing that you don’t get any additional…

Why And How To Cancel Auto Insurance

Auto insurance is a competitive market, so buyers definitely have the upper hand. If you’re not 100 percent satisfied with your provider’s customer service or rates, you are always entitled to cancel auto insurance coverage and sign with a new company. You do not have to wait until renewal time to switch either: you may cancel at any time and receive the unused portion of your policy back. Some companies may charge you a nominal early cancellation fee, so be sure to read the fine print so you’re not disappointed. Common Reasons For Cancelling Auto Insurance There are many reasons…

What Is Florida No Fault Insurance & Why Should It Be Scrapped?

The original goal of no fault insurance was to lower auto insurance premiums by avoiding litigation expenses. Feasibly, when an accident occurred, both parties would be equally culpable for covering the damages. Say someone rear-ended you while you were just sitting at a traffic light, minding your own business. In a Florida no fault scenario, your insurance company would pay out the claim to cover the damage to your car and injuries. The guy who hit you would be charged a higher annual premium for his insurance. Since both companies will have accident claims, it’s believed that eventually the costs…