Posts Tagged ‘Liability auto Insurance’

Auto Insurance Tips: Mechanical Breakdown Coverage

Tuesday, June 26th, 2012

Failing to plan for mechanical breakdowns is one of the quickest ways to find yourself in dire financial straits. While most of us purchase auto insurance to protect ourselves from a calamity, you will still want to consider mechanical breakdown insurance through your car insurer, dealer, bank or credit union. A standard auto insurance policy does not cover wear-and-tear maintenance should you need new major repair work.

What Does Mechanical Breakdown Insurance Cover?

You will need to save money on the side to cover wear-and-tear repairs like:

  • Transmission
  • Brakes & Rotors
  • Engine Parts (Oil Pump, Pistons, Timing Gears, Flywheel, Valves)
  • Drive Axles & Joints
  • Electrical Components
  • Cooling / Air Conditioning
  • Fuel System
  • Steering

If your vehicle should need towing or if you needed a rental car in the meantime, you will be glad to know this type of auto insurance would have you covered. You often will see roadside assistance and lock-out service added on as well.

How Much Does Mechanical Breakdown Auto Insurance Cost?

Unlike traditional auto insurance, your rate does not fluctuate if you make a claim. Instead, service contracts are based on the type of vehicle you own, the length of coverage, the number of miles driven, and the level of protection you desire.

Levels of Insurance

For instance, Mercury offers four levels of insurance all the way up to Platinum, which covers things like brakes, tires, shocks and windshield wiper blades. Like regular auto insurance, choosing a higher deductible (if possible) will lower your cost. It is important to know that this insurance is fully transferable should you decide to sell your car. If you do not want to transfer the policy, you will get a check back for the prorated amount of unused insurance.

auto insurance breakdown

Does your auto insurance policy cover normal wear and tear? You might want to consider adding this on. Until then, why not shop for a better auto insurance quote?

Auto Insurance Claims Adjuster Advice

Monday, June 25th, 2012

You may feel as though the auto insurance claims adjuster has arrived on the scene to act as your own personal lawyer. “Here is someone who has my best interests at heart because I’m the client,” you may think. It’s not that a claims adjuster is a crook, but keep in mind that this person’s job is to settle the case as quickly and affordably as possible. It’s up to you to ensure you get a fair deal.

Rule #1: Say As Little As Possible.

Talking too much is the biggest mistake people make. Drivers who’ve just been involved in an accident are often blabbing emotionally — which may not be the best recourse. Claims adjusters love to hear admissions of guilt and apologies, details that contradict what bystanders say, complaints about whiplash or what a “piece of junk” your car is, or background information about what a horrible day you’ve been having. Anything you say can and will be used against you!

Rule #2: When In Doubt, Hire Counsel.

You don’t have to answer questions that seem loaded. For instance, an auto insurance adjuster might ask:

  • How could you have avoided the accident?
  • How much do you think you are responsible?
  • Do you think the weather affected you?
  • Did you have any previous injuries or pain before the wreck?

Ask that all questions be directed through your legal representative first.

Rule #3: Take Your Time.

If you settle too fast, you may be forfeiting some of your consumer protections. An auto insurance claims adjuster might offer you a $1,000 check on-the-spot to fix your vehicle, plus another $500 for the inconvenience. But what if you have a soft tissue injury that hits you three days later like a ton of bricks? Once you take the money and settle, you are no longer entitled to compensation. Keep in mind you may be entitled to rental car reimbursement, which could buy you more time.

Auto Insurance Claims Adjuster Advice 1

Get a fair shake by surfing auto insurance quotes today.

Theft Drives Up Auto Insurance Rates in Washington State

Friday, June 15th, 2012

Washington state is a hotbed for auto thefts, according to National Insurance Crime Bureau statistics. Even though there has been a 1.6 percent decline in auto thefts since last year, Spokane is still fourth-highest in the nation for auto theft rates again. Yakima jumped five places from the 10th spot to the 5th. The Seattle-Tacoma-Bellevue area is responsible for 54 percent of all stolen vehicles in the nation — up 18 percent since 2009. This is bad news for Washington consumers    who are looking for affordable auto insurance rates.

How Many Vehicles Are Stolen In Washington?

Last year, 28,833 vehicles were reported as stolen. That’s 79 vehicles stolen every day or more than 3 per hour! NW Insurance Council President Karl Newman says, “American consumers continue to pay billions of dollars each year for auto theft.” He explains that the cost of replacing stolen vehicles and repair the recovered vehicles gets reflected in our auto insurance rates. It costs Washington auto insurance providers more than $170 million per year, in fact, with most reimbursements costing around $6,500.

How Can Consumers Protect Themselves?

When buying a new vehicle, consumers should elect for anti-theft technology. The NICB recommends four layers of protection:

1. Common Sense – Which means removing keys from the ignition, locking your doors, closing your windows and keeping valuables out-of-sight.

2. Warning Device – Which means choosing a steering column collar, audible alarm, brake lock, VIN etching, or decaling.

3.  Immobilization Device – Which means smart keys, fuse cut-offs, kill switches or wireless ignition authentication.

4. Tracking Device – Which means enabling the vehicle to be tracked via monitoring station.

Sick of Overpaying on your Auto Insurance?

You may be able to save thousands off your current auto insurance rate by switching providers. It is a very competitive market out there. It will only take you a few moments to enter your information into the search engine to get the best possible deal.

WA auto insurance

Protect yourself by adding anti-theft protection to your vehicle and shopping for the best auto insurance rates!

5 Reasons To Shop Around For Auto Insurance

Thursday, June 14th, 2012

Everyone is looking to save money these days. Taking just a few moments can save you hundreds — if not thousands — on your auto insurance policy. Here are five situations where shopping around for the best rates online is wise.

You Just Got Married.

In all your excitement about the Big Day and your Honeymoon, you may have forgotten that marriage opens up an opportunity to potentially save money on your auto insurance policy. Most companies offer multiple car discounts. If you get your homeowner’s insurance or life insurance through the same company, you will be eligible for a multiple line discount as well.

You Just Moved.

If you are moving to the suburbs or a more favorable part of town, you can save money on your auto insurance rate. National studies in big cities find that the discrepancies can vary by the hundreds of dollars!

You Just Retired.

Statistically speaking, retirees drive far less than their commuting peers. You may be eligible for special discounts if you are 55 and older or recently retired. Furthermore, your decades of driving experience and years of clean records can stack up in your favor too.

You Got A New Job.

Engineers, scientists, mathematicians, educators and military members statistically get in fewer accidents and are rewarded with lower rates at some auto insurance companies.

You Got A New Car.

New cars can sometimes increase your rate if you were driving your old junker around with collision insurance. However, increased safety features and the willingness to pay a higher deductible can offset those increases and actually end up saving you money.

5 Reasons To Shop Around For Auto Insurance 2

Retire recently? You could be saving on your auto insurance rate!

Auto Policy 101: What Is A Deductible?

Wednesday, April 11th, 2012

An auto insurance deductible is the amount of money you’re responsible for paying before your insurance covers the rest of the damages incurred in a claim. This amount may range from $100 to $1,500, depending on the state and insurance provider. So, for example: if you have a $250 deductible and you are in an accident that caused $2,500 in damages, you will pay $250 and your auto insurance company will pay $2,250.

Insurance Deductible Explained

So why would anyone choose to pay $1,000… if they could get away with paying only $100 instead? One way you can lower the total cost of your annual auto insurance coverage is by choosing a higher deductible. Since you will cost the insurance company less should an accident occur, they are willing to offer you a lower rate in return. Basically, you need to calculate the risks associated with owning and operating a vehicle.

  • What is the likelihood your car will be vandalized?
  • What is the likelihood someone will steal your belongings from your car?
  • What is the likelihood you’ll be involved in an accident?
  • What is the likelihood a natural disaster will cause damage to your car?
  • What is the likelihood you’ll hit a deer or another type of animal?

You want to make sure you are able to save enough money in reserve to cover whichever auto deductible you choose.

Other Factors For Auto Insurance Deductibles

In some cases, you won’t have as much freedom to choose your own deductible. For example, your car insurance company may require you to pay a higher deductible if you are considered a “high risk driver.” If you have had several incidents over the past three years — including traffic accidents, DUI, speeding violations, or reckless driving offenses, then you can bet you’ll be charged a higher deductible on your auto policy.

When To Pay A Deductible

Most auto insurance companies only ask you to pay a deductible in the event of an accident or claim. So you will not need to pay this money  up front when you buy your new auto policy. If you want to buy a particularly comprehensive policy or additional collision coverage, you may need to pay along with your annual premium, although this is rare.

auto insurance

Oregon Auto Insurance Coverage Options

Friday, September 23rd, 2011

Oregon auto insurance buyers have several options available to them when choosing coverage. The following types of protection are offered by insurance companies licensed to sell policies in the state:

Bodily injury liability coverage pays for personal injury claims made by the occupants of the other vehicle when an at-fault accident occurs. It pays for medical bills, rehabilitation expenses, funeral costs, and legal fees incurred in defending an action.

Property damage liability coverage is used to pay for the cost of repairs to the other driver’s vehicle. It pays for the cash value of other people’s property damaged or destroyed in an accident.

Uninsured and underinsured motorist coverage pays out when the at-fault driver in an accident either doesn’t have coverage or doesn’t have enough protection to pay for the damages caused in an accident. It covers personal injury claims made by accident victims.

Uninsured motorist property damage coverage is used to pay for repairs or the cash value of the policyholder’s car after a collision where the driver doesn’t have any coverage or cannot be identified.

Personal Injury Protection (PIP) coverage compensates the policyholder and the occupants of his or her vehicle for their medical bills and rehabilitation costs following an accident. It also compensates covered individuals for their lost wages and childcare costs. This type of insurance also pays out a funeral benefit if the accident was a fatal one.

Collision and comprehensive insurance coverage pays for physical damage to the policyholder’s vehicle. Collision insurance pays out when the damage is caused by striking another vehicle or an object. Comprehensive insurance pays out when the damage is caused by events such as flooding, hail, falling objects, wind, fire, vandalism and theft.





What Does Liability Auto Insurance Protect Drivers Against?

Thursday, September 15th, 2011

Liability auto insurance coverage is put in place to pay for damages that a policyholder causes in an at-fault accident. Rather than paying for the policyholder’s own claims, it covers the cost medical bills, rehabilitation expenses and lost wages. Depending on the state, a person who has been injured in an accident may also have the right to sue for compensation for his or her pain and suffering.

It is an important part of an overall financial plan, and having enough liability coverage in place is key to protecting the policyholder’s hard-earned assets. Without this type of protection in place, the at-fault driver in an accident will have to pay for these costs personally. Very few people have funds readily available to pay out several thousand dollars in damages if an accident occurs. Rather than having to consider selling off assets and withdrawing funds out of a bank account to pay these obligations, a much better choice for drivers is to buy a policy with a coverage limit which is high enough to cover the damages which could result from a serious accident.

A driver who cannot produce proof of insurance when stopped by police or at the scene of an accident will be liable for penalties which may include a fine, license and/or registration suspension and more. A lapse in liability insurance coverage can also make it more challenging to get coverage, since this incident will put him or her into a high-risk category.



Liability Auto Insurance for Business Owners

Wednesday, July 27th, 2011

Liability auto insurance for business owners is an important part of a commercial policy. It protects the company’s assets if the owner or an employee is involved in an at-fault accident.

Third party liability coverage is required in most parts of the United States. Each state sets minimum coverage requirements for bodily injury and property damage insurance. The bodily injury part of the policy pays for personal injuries and economic losses claimed by the people traveling in the other vehicle when an accident occurs. It also pays a funeral benefit, if the accident was a fatal one.

Property damage liability insurance covers the cost of repairing the other driver’s vehicle. If the car is totaled in the accident, the insurer will make a payment based on its cash value. The property damage part of the policy also pays for repairs to public property damaged or destroyed in the accident, including sign posts, guard rails and fences.

The exact level of liability auto insurance business owners should have in place will depend on the level of assets the business needs to protect. It’s a good idea to have at least $100,000 in liability coverage in effect, and a number of business owners choose to buy a policy with a limit of up to $1 million per occurrence. For business owners who currently have a policy in place, reviewing the policy provisions at least once a year will help to ensure that the right level of protection is in place.