Posts Tagged ‘Auto insurance’
Finding affordable insurance if you are a high risk driver
Remember, the general rule always has exceptions. So when everyone tells you insurance companies load up the premiums of the inexperienced drivers and the drivers who have a bad safety record, that is true as a general rule. But this does not mean it’s impossible to find reasonably cheap insurance. All it means is you have to work harder to get results. So the first rule is, “Never give up hope!” There are always ways in which you can save on the premium and find reasonably good coverage. Who are you? You may:
- be a new driver;
- have been involved in multiple traffic accidents;
- have been convicted of driving while under the influence or other serious offenses; or
- have had you license suspended and/or your previous insurance cancelled.
The second rule is always to tackle the problem honestly. It is pointless to lie about your record. Even if the lie goes undetected when you buy the policy, every company makes thorough checks once a claim is made. If your dishonesty turns up, the company will cancel the policy and you will be left with no indemnity against the claim. Be open about your high-risk status and get two sets of quotes using the online search engines. You should aim to compare the prices on general policies with the premiums charged by the companies offering special policies for drivers with poor records. The bad news is the majority of general insurers will refuse to quote or quote high premiums. These are the companies only writing policies for people aged between 25 and 70 who have never had an accident in their lives. The quotes you get are still useful because you find out which is the lowest of the high quotes. The good news is there are a small number of companies offering a specialised service to high risk drivers. Ask for high risk auto insurance or nonstandard auto insurance and get their quotes. Read the rest of this entry »
What can history tell us?
According to The Beatles, “It was twenty years ago today, Sgt. Pepper taught the band to play.” So, in 1988, voters in California passed Proposition 103 which, as history tells us, proved to be one of the best Propositions they have voted for. Why? Because it pushed forward reform of the automobile insurance industry. The result? Evidence shows California has the most competitive market in the US with the slowest increase in premium rates. If you ever wondered what consumer protection should look like, California is the model all the other states should follow. Curiously, Illinois is the most unregulated market and the least competitive. Are Californians pleased with the result? Looking at the pattern of increases in the rest of the US, the estimate is that Californian drivers have saved more than $17 billion in premiums. That’s almost $2,000 per driver. What’s not to like about that? With the last year of recession, the continuing low premiums and strong competition between the insurers guarantees better service standards on claims, just when family budgets benefit from low monthly instalments and fast payments if there is an accident. Read the rest of this entry »
The art of finding good policies
It is not anything new – you need to stay protected 24/7 if there is a chance of doing it. People sometimes think that protection is expensive. They have an idea in their head that you have to spend too much money so they do not worry about tomorrow. Especially when you are on the road you need a good protection. Your car can be your loyal friend that takes you to work and takes you back home but it ca turn into your worst enemy if you don’t think about protection on time. Read the rest of this entry »