Auto Insurance Quote Review

Posted by in Auto Insurance Reviews on August 4, 2011

By George Haas

Have you thought about asking for a free auto insurance quote on the internet? Are you concerned because you may not know anything about the company providing the quote? Are you wondering how you can find out about the reputation of the company giving you a quote, especially when it comes to paying out claims?

This article will tell you how to find out about insurance companies: their financial stability and how many consumer complaints they receive, how to ask for a quote so you can compare apples to apples, and results of online quotes from eight known auto insurance companies.

How to find out the stability of an insurance company

The financial stability of a company is rated by A.M. Best and Standard & Poor’s. These companies provide an independent opinion of an insurance companies ability to meet its ongoing policy and contract obligations. The A.M. Best rating is expressed as a letter grade from A++ (the highest) to D. It is recommended that you do not work with companies rating B or lower. The Standard & Poor’s Ratings range from triple A (the highest) to CC. It is recommended that you do not work with companies rating lower than BBB.

How to find out individual policy holder satisfaction with an insurance company

Annually J.D. Power and Associates gathers data from policy holders nationwide regarding policy options, pricing, automated phone service and overall satisfaction, with the insurance company providing their insurance. The best rating is 5.

How to Find Out the Number of Consumer Complaints

The Department of Insurance for each state provides the general public with consumer complaint ratios. This ratio helps the consumer to identify the number of complaints per number of claims filed. A maximum of forty companies are compared. If more than forty insurance companies have complaints, only the forty companies with the most complaints will be compared. It is recommended that the complaint ratio be checked in three or more states to identify specific insurance company trends. A ratio of less than one hundred is better than average.

How to ask for a quote so you can compare apples to apples

A response to the following information must be decided before asking for an auto insurance quote:

  • Car make, model, year, current mileage
  • Deductible amount for collision, comprehension and liability
  • Coverage for medical
  • Purpose for using the car
  • Miles driven per year
  • Number of designated drivers
  • Drivers ages

What is the result of performing the above steps?

The Auto Insurance companies used for this Auto Insurance Quote Review are 21st Century, Allstate, Esurance, Geico, Nationwide, Safeco, The Hartford. These companies were selected based on longevity in the business and their familiarity to consumers throughout the United States. The stability, consumer overall satisfaction (Sat.), policy options (Opt.), price (of premium) and automated phone service rated as follows.

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Car Insurance Auto Accident Compensation Claim

Posted by in Auto Accident on August 4, 2011

By Ted Kripps

It is illegal in many countries to drive a motor vehicle that does not have car insurance. This means that you could be ticketed, have your vehicle towed, be arrested. When an individual has been in an accident with an uninsured driver, they often wonder if they can still make a car insurance auto accident compensation claim.

It is not recommended to drive any vehicle if you are not properly insured. This opens up many doors to problems, such as the ones that have been iterated above. You could also be susceptible to lawsuits, as you may damage another person or his or her property. The smartest move to make is to always have insurance coverage on any motorized vehicle that you plan on driving. This is recommended regardless of the laws actually governing your place of residence.

Most insurance providers don’t create a distinction between those who are injured or even have their home damaged on whether or not they are covered and uninsured. If they’ve an insurance plan with the one who is to blame in a car accident, they’ll be liable financially when the mishap falls to the terms of the policy.

This does not mean that an insurance provider will not try to offer you less than what your damages are worth, as most times, they will. They may also try to hold over you the fact that you could have been violating many state or federal laws by driving a vehicle without the proper coverage. They do this as a negotiation tactic.

Just like those with insurance, even if you do not have coverage, you can still seek compensation; however, this should be done with the aid of a reputable personal injury attorney.

A good personal injury attorney will know the laws that govern your specific location and any other laws that may pertain to your specific situation. These professionals will not be swayed by insurance carriers, and they will let you know what you are truly entitled to.

By interviewing as many law firms as you can, you will be able to find the firm that will best be able to help you. It is best to research their expertise and their success rate regarding the form of accident that you have been involved in.

Do not be afraid of not having the money to pay for a legal team. Many times in these types of cases, they will work on a contingency basis.

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4 Facts About Auto Insurance Rates

Posted by in Auto Insurance Rates on August 4, 2011

By Megan M Perry

4 Facts About Auto Insurance RatesShopping for auto insurance coverage can feel a little bit like walking the tight rope in a circus act. On one hand, one wants the right amount of coverage to protect their own assets as well as meet their obligations for financial responsibility in the event of a car accident. On the other hand, one wants car insurance that is affordable and won’t break the budget. While it can be tricky to determine how much coverage one needs, it is also useful to keep in mind the following four factors that insurance companies take into account when determining car insurance rates.

Car Model

It stands to reason that the more costly the car is to repair in the event of an accident, the more that coverage will cost for the vehicle. So luxury cars are going to cost more to insure than standard cars. Yet, there are other considerations that insurance companies factor in where they decide on the risk model for any specific vehicle. For instance, SUVs often carry a higher insurance premiums because, as larger cars, they tend to do more damage to other vehicles in an accident. Also, with their higher center of gravity, SUVs are more prone to rolling over in an accident which can lead to significant driver and passenger injury.

Driving Record

Safer drivers receive the best rates all around for car insurance as they represent a significantly reduced accident risk. Drivers with speeding tickets and other moving violations on their record will pay more in car insurance premiums because they are deemed more reckless drivers and more likely to end up in a car accident.

Credit Score

One might wonder what a credit score, which is a measure of financial responsibility, has to do with one’s car insurance premium. More and more insurance company risk models are equating lower credit scores with less responsible driving habits. Research seems to indicate that those who manage their personal finances properly also tend to manage other aspects of their lives, like their behavior behind the wheel, more responsibly as well. Maintaining good credit pays off in lower auto insurance rates.

Relationship Status

Married drivers, especially males, tend to see a dip in their car insurance rates after they tie the knot. Married people often pay lower insurance premiums because, at least according to insurance underwriters, marriage confers a new sense of responsibility on to many people and causes them to drive more carefully, especially if they end up having children as well.

Purchasing the best car insurance policy can seem complicated, but by keeping the host of factors that effect rates in mind, a good insurance deal can be easier to find

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