Insurance costs are rising along with everything else.  A recent survey found that more than 50% of Americans are paying way too much for car insurance.  There is not much regulation around how much insurance companies can charge, so it is up to the consumer to research the best offers on the market and compare car insurance companies.  Most individuals don't even think about car insurance except maybe when they get a new vehicle.  But most financial advisors recommend reviewing your car insurance at least once every year to make sure you have the right coverage, and at a competitive price.

Cars with the Lowest Insurance Premiums

According to a recent article, vehicles with the lowest average auto insurance premium in the U.S. are the Mazda Tribute I, the Honda Odyssey, the Chrysler Town & Country LX, and the (surprisingly!) Jeep Wrangler X.  Go here for the complete list.

Health Insurance Legislation: Important Changes to Healthcare Laws?

With the Tea Party contingent taking power in the U.S. House, there is a lot of talk and hot air about a repeal of the sweeping health insurance reform known derisively as "Obamacare".  The Tea Party and other Republicans are prepared to flex their political muscle in an attempt to repeal what they feel is a gross over-reach of Federal power.  Under the Obamacare health insurance reform, many things changed -- most notably, a federal requirement that everyone must carry health insurance by the year 2014.  All of the change in Washington may have you asking the question, how much health insurance will I need in 2014

In this blogger's opinion, there won't be any change to health insurance reform.  The opponents of reform simply do not have the numbers to make this pass beyond the House.  It will never pass the Senate, and if it does, the President will be able to veto it because Republicans lack a veto-blocking number in the Congress.  The only thing that would change this is an unlikely large number of Democrats crossing party lines and voting in favor of repeal.  There won't be another game-changing Congressional election until 2014, the same year the new laws are to take full effect.

Nine Ways to Save Mad Loot on Auto Insurance

The Federal Citizen Information Center has published a uniquely useful list of 9 tips for saving money on auto insurance.  Visit their website for the full list -- highlights:
--Ask for higher premiums
--Get less coverage on older vehicles
--Look for low-mileage discounts

Time's Fun When You're Having Flies

November 1, 2010 -- Another Halloween has passed us by, and winter is creeping in here in the Midwest.  Hard to believe this blog has been up for almost a year now!  As we get into the winter season, I just wanted to remind everyone about the importance of collision coverage for those of you who live in wintry climates.  Accidents increase everywhere when there's rain, snow, or ice on the roads.  As I get ready to pay my insurance bill this week, I personally will be reviewing my policies for adequate coverage, and I encourage you to do the same.  Like always, if you have questions, just send me an email and I will be happy to try and help.

These Wind Storms Have People Thinking about Homeowner's Insurance Policies

Today is October 26, 2010, and there are wicked windstorms ripping through the midwestern United States.  I know what you're thinking -- isn't this blog usually about auto insurance?  Well, yes, usually.  But in fact, I like to cover pretty much all types of insurance that are applicable to individuals.  One thing I don't mess with too much is commercial insurance for businesses...maybe some day I'll tell you why. 
But like I said, nothing like a bad storm to get people thinking about home insurance.  People will soon be asking questions like: Does my homeowner's insurance cover the damage from a wind-blown garden gnome through the front window?  What if it's my gnome but my neighbor's window -- who's insurance foots the bill?
Well, it might be a little late for this storm, but my advice is to take a look at your homeowner's insurance. Maybe it's time to get a new policy.  Chances are, you're paying too much for not enough coverage.  Insurance is more or less like underwear -- it should be changed once every six months, whether you think it needs it or not.

Thoughts for the Day

Tomorrow is the first day of the rest of your life insurance policy.  A penny saved is another penny you won't have to spend on insurance.  A man and a woman got into a car accident.  She asked to see his proof of auto insurance.  He didn't have one. He ended up having to get SR-22 insurance and pay through the wazoo.  A wazoo is like a kazoo, at least I think it is, but you play it with an entirely different part of your anatomy.

I am seriously thinking of selling my car and getting a scooter.  But winter is coming so that might be a bad idea.  There is no public transportation where I live -- well, actually, I should say that there's no good public transportation where I live -- so I'll have to keep that expensive car insurance bill for a little while longer it seems.  Everyone here owns a car and we all complain about the high cost of auto insurance.  It is pretty sad when you spend the entire carpool comparing tips about where to find cheap auto insurance, and then spend all day working for a car insurance company.  But that's pretty much what my life is right now.  Oy!

But my car insurance could be a lot more expensive so I guess I should be happy about it. 

What's Your Policy on Paying for Insurance?

I just talked to a friend of mine who says she doesn't pay for auto insurance more than every 6 months.  They will pay to get coverage just long enough to get their car registration renewed.  I don't understand why some people are willing to take that risk with car insurance.  The financial and personal losses can be huge, not to mention the legal trouble.  Why bother to do that at all?  Is it really worth it? 

Let me know what you think - leave a comment or facebook me!

 Insurance Cost Up, Just Like Unemployment

Unemployment numbers were up today, higher than expected and not good news for the White House.  Everybody is living on less money these days, but we are no longer in a depression like we were, so prices are going back up.  Insurance cost is no exception, a recent survey shows that car insurance costs are actually higher than ever.  As unemployment increases, so does crime, and that drives up insurance prices for underwriters.  Next thing you know, you are paying $1400 for insurance and that is just too much. 

There is not much you can do but try to hope it gets better.

Check with the California Department of Insurance for help if you cannot afford insurance.  They can try to help you cover the costs maybe.  I mean, it can't hurt to ask.

Sometimes, a Cheap Car Does Not Mean Cheap Insurance

While it is true that less-expensive cars have a bias toward cheaper auto insurance, there are a lot of other factors.  A major factor is the driver's driving record and age.  In the last post we talked about the expense associated with SR22 insurance, which is needed for drivers with a drunk driving conviction or certain other driving incidents on their record.  Besides that, there are other things that affect the insurance company's assessment of your risk as an insured driver.  It's really all about the statistical probability that they will need to pay out an insurance claim to you -- that's what determines the size of your auto insurance quote.  And size does matter, unless you are independently wealthy or something.  Some of the major risk factors include:

  • Age - statistically, younger drivers have more accidents; therefore, younger drivers are more expensive to insure.  Most people see a nice drop in insurance costs when they reach age 25.  One way to reduce cost is to keep young drivers on their parents' auto insurance, as long as this is done without misrepresenting anything to the auto insurance company.  We talked about this in a post last week.
  • Driving record - Old habits die hard, and drivers who have had trouble in the past are statistically likely to have trouble in the future.  This means more risk, which means a higher auto insurance premium.
  • Neighborhood crime rate - Any auto insurance policy that includes theft or damage coverage will be more expensive in a neighborhood with a high crime rate.  Statistical models show that the risk of damage, and paying out an insurance claim, is higher in areas that are prone to crime.  To get cheaper insurance despite your neighborhood's crime rate, be sure your insurance company knows about car alarms, whether you park in a garage, or other factors that may reduce the risk of theft or damage while the vehicle is parked near your home. 
All of the above factors play a key role in determining your car insurance rate.  This is, of course, in addition to the type of vehicle it is.  There are two things at play here: (1) the potential cost of repairing or replacing the vehicle, and (2) the statistical likelihood that the vehicle will be stolen or damaged.  The probability of damage or theft is calculated based on a comparison of similar vehicles.  This might make it easy to understand why a sports car is so expensive to insure: it is highly desirable, which makes it vulnerable to theft, and it is more likely to be driven fast or aggressively, which may lead to more accidents.  This is actually one reason for the myth that red cars are more expensive to insure.  In fact the color of the car has nothing to do with it, but it's a mathematical fact that most sports cars are red, which skews the numbers based on car color.

SR22 Insurance is if You Were Drunk Driving

If you have a ticket for drunk driving, you will have to get SR22 insurance. SR22 insurance is expensive as hell. Cheap SR22 insurance is the cat's meow. SR 22 insurance is when you file with the state, and if you don't have car insurance, your license is automatically revoked. The insurance company will tell the state if you stop having insurance. Not all insurance companies can provide SR22 insurance. didn't used to have SR22 insurance, but I guess now they found some good cheap sr22 insurance because it is now available there. A lot of people have asked me about SR22 insurance lately; really, it is so expensive from an insurance agent, that I have been sending them to find cheap sr22 insurance online. Forsooth, it ain't too expensive at that insurance quotes website, but it sho' is a red website which is not something I enjoy.

Here's a random question of the day...why does Geico have four different spokespeople? They have a Geico caveman, Geico Gekko, Geico eyeballs on money, and the Geico narrator who says things like "Does Geico have cheap insurance? Does Geico have the cheapest insurance? Does Howdy Doody got wooden elbows?" and then he shows a movie of Howdy Doody with wooden elbows.

Anyway, I wanted to leave you with a few pointers for SR22 insurance:

--You have to maintain it or your license is revoked

--Not all insurance companies have it

--You will probably need it if you have a drunk driving conviction, or if you caused a car wreck while driving without insurance


Cheap Insurance for Young Drivers

When it comes to young drivers getting behind the wheel, the feelings inspired in parents and teenagers can be quite different. Many parents approach this time in their child's life with trepidation and caution -- not only is there the very real concern for the safety of their young driver who's just learning the rules of the road, but there's also the knowledge that driving independently is the first major step to Junior leaving the nest. Teenagers, on the other hand, are usually excited about the possibility of driving, and can't wait to take the keys.

Regarldess, parents and young drivers both must be mindful of insurance. Whether your teenager is scraping together part-time-job money for a used hooptie, or looking forward to Daddy buying her a new sports car -- or even if the young driver's road trips are limited to going to the grocery store in the family minivan -- everyone in this scenario needs car insurance. While it is true that a young person could drive their parent's car without being explicitly added to the insurance policy, this is a terrible idea because in the most dire situations, he or she may not be covered.

So whether the young driver has his or her own car, or if he or she is only borrowing the family car occasionally, insurance must be dealt with. The young driver should be added as a named insured to the insurance policies for every car in the household that he or she might drive, even if he or she is only the 3rd or 4th named insured on the policy. And of course, if the young driver has a primary vehicle of his or her own, that thing DEFINITELY needs to be insured. These kids can't drive very well, you know, and accidents are going to happen - period.

A lot of insurance professionals will recommend that parents keep their teenagers' cars in the parents' names, and work out insurance payment directly with the teenager and "off-the-record". This is because the insurance costs can be dramatically lower for a car where Little Sally is an additional named insured vs. the primary driver. However, it is not wise to deceive the insurance company about how often the young driver will drive the car.

Whatever solution you choose, know that cheap insurance for young drivers is always available -- you just have to know how to work the insurance companies for the right price. Look for discounts for good grades and safe driving.

In olden day, people use to travel days to meet their friends or relative in neighboring city. However, today, technology has improved to such extends that people have their own vehicles to travel were ever they want within few minutes or hours. As a result, the cost of vehicle has also increased extremely with the demand of vehicles. With the increase of vehicles, more and more accidents are likely to take place. Every day, new papers has some news about road accidents although heavy traffic controls and traffic polices are available.

Car insurance or auto insurance offers financial support in buying new car in case of any such road accident or damage. It helps you to keep your car in good condition, cheap auto Insurance is now available, as it is becoming more important with the increase of road accidents. Moreover, car insurance will help you to keep your car in good condition all the time. However, finding cheap and granted car insurance is really challenging sometimes, but thanks to internet where you will get all needed information. Hence, car insurance cheap health insurance or auto insurance is mandatory. According to the law, everybody owning a can ought to have auto or car insurance.

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