Posts Tagged ‘car insurance and accidents’

High Risk Driver Auto Insurance

Monday, May 14th, 2012

No one ever wants to be labeled a high risk driver, but there comes a time when your luck just runs out and you can no longer deny that the stack of tickets you’ve received lately qualifies you as a risk pool driver. Even if you’re confident driving at high speeds or you feel that you were not at fault for the last accident, auto insurance companies see that there is a pesky black “bad luck” storm cloud following you around — and insuring you is costing them more. So, you may ask, “Are exorbitant rates just part of my future? Or is there something I can do to pay less, even though I’m a high risk driver ?”

Drive Smart.

If you’re going to be drinking, take a cab or public transit. Do not text while driving or try to “gun it” through a yellow light. Always signal when changing lanes and be sure you pause a full two seconds at stop signs, while looking both ways. Use cruise control, whenever possible, to avoid the temptation to speed — especially on the highway. Always give yourself a 3-second following distance behind vehicles. Once you have no tickets or accidents for 3 years, you can expect your auto insurance rates to come down to a reasonable level.

Manage Your Money.

Did you know that some auto insurance companies look at your credit score when determining what type of rate to give you? Do your best to improve your money management and bring in added income, if necessary. Mark your insurance payment due dates on your calendar in advance, so you know when you’ll need the money to pay your bill on-time.

Shop For Quotes.

The auto insurance market is extremely competitive. Since companies all have their own secret algorithms for determining risk, you can find tremendous deals by calling around. Better yet, why not take a couple of quick minutes and get a free, no-obligation quote online?


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When Your Car is Totaled in an Accident

Friday, June 11th, 2010

When a serious accident occurs and the car is totaled, the insurance company will pay out on the claim. The amount the customer will receive is not the full replacement value of the vehicle, though. The insurance company’s obligation is to bring the customer back to the same position he or she was in before the loss occurred.

The insurance company will pay based on the cash value of the vehicle. For a person who has collision or comprehensive coverage on the vehicle, the benefit payable will be the value of the car at the time of the accident, less the policy deductible.

Cash value on a vehicle is determined by comparing it to ones that are similar in make and model. The number of miles that a car has been driven is also considered when determining its cash value. An insurance adjuster can gather this type of information from local car dealers or by tracking recent sales. The insurance company may also use a computer program to determine the value of a particular vehicle.

In a situation where the cash value of the vehicle is less than the amount owing on it, the owner may want to consider buying “gap” insurance to make up the difference between what the car is worth and the amount that is still outstanding on the loan.