Archive for the ‘car insurance’ Category

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Different Types of Rental Car Insurance

Friday, January 27th, 2012

I’ve written about car insurance for rental cars before, but it seems to be all over the headlines today so I thought I would revisit this topic.  Whether or not to add the car rental company’s car insurance is one of the biggest stressors you will face at the car rental counter.  The best advice, according to Fox News’ Jonathan Weinberg, is to do your research before standing at that rental counter.  It is very possible that your personal car insurance policy or even the credit card with which you rented your car will cover you in the case of an accident.  Weinberg’s article, “Secrets to unraveling car rental insurance,” offers some pointers.

The first thing you should do is check with your own car insurance company and see if the coverage you already pay for includes rental car insurance.  Keep in mind that you may have added expenses with your own company if you do actually need to use their car insurance.  You’ll have to go through the claims process, pay your deductible, and your car insurance rates could increase.  Many credit card companies offer the perk of car insurance coverage for your rental cars.  This is another case where you really need to do your research up front and see what they cover.  Some exclude SUVs and vans, others only offer secondary coverage meaning that they only pay for what your primary coverage does not.  You may even be charged a deductible.

It’s important to make sure that you have liability coverage as well, especially in case you get into a bad car accident with another vehicle.  Credit card car insurance does not cover liability in the United States.  Car insurance through your rental car company offers basic liability coverage, but you have to pay more for supplemental coverage which you’d need in the case of a major accident.  Your personal car insurance policy will likely cover liability as long as that is part of your overall policy.  While you will not be getting cheap car insurance if you purchase through the rental car company, you can rest assured that you will be covered and won’t have to worry about extra paperwork filing claims and paying for deductibles.  Weigh the benefits and see what coverage is best for you when renting a car.

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Christmas Car & Insurance for Needy Moms

Sunday, December 25th, 2011

An organization in Utah is making Christmas very merry for some Utah moms and their kids.  Cars for Moms is a non-profit organization which gives cars to single mothers who don’t have transportation for them and their kids.  This information comes from “Cars for Christmas: Non-profit gives cars to single moms,” by Lori Prichard of KSL TV.

Cars for Moms was founded by John Doxey after his sister’s husband was killed in a car accident, leaving her alone with eight children and no vehicle.  His goal is to get 20 vehicles donated every month.  He uses the scrap money from those that can’t be fixed to fix the cars which can be.  The need for his organization is very far reaching because there are many single moms out there in need of transportation.

The article highlights the story of Cheri, who has been helped by The ChainBreaker Foundation after leaving an abusive husband.  She has three children to support and received a Chrysler Town & Country mini-van through a partnership between Cars for Moms and The ChainBreaker Foundation.  In addition to the mini-van, Doxey’s organization gave Cheri a few months of car insurance, a gas card for $50, and the vehicle’s title.  They also included a stack of Christmas presents for her children.

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State Farm Auto Quote Covers Rentals

Tuesday, November 22nd, 2011

The great daily advertised prices of some car rental companies don’t look quite so appealing after you add in some of their extra charges.  In “Car rental fees may surprise consumers,” Nalina Shapiro of WIVB in Buffalo says that the best time to make decisions regarding a rental car is before you are at the counter.  Many agents recommend adding car insurance to your car rental, but your State Farm auto quote, and those from other insurers, usually cover your rental car in the case of damage or an accident.  If you have booked an economy car in advance and are given a luxury car when you get to the rental company, your rental car insurance could be higher as well as paying more for the larger car. If they don’t have an economy car, ask if you can only be charged that amount.

If you are renting a car somewhere that you’ll be driving past tolls, you may not want to use the EZ Pass associated with your rental car.  Instead of paying a $.25 toll, you could end up being charged up to $10 a day just for activating the EZ Pass inside your rental car.  Make sure to fill up the gas tank before you return your rental car as well because rental companies charge up to $9 per gallon just to fill the tank if you forget.  Thoroughly inspect your rental car for any scratches and dents before you get inside, because you will get charged for any new damage to the car once you return it.  The Better Business Bureau can help you find a good car rental company or help with complaints afterwards if you’ve been charged for unwanted car insurance or had another problem.

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No-Fault Car Insurance in Trouble in MI

Tuesday, November 1st, 2011

Michigan is running into the same kind of problems as Florida with their no-fault car insurance program.  According to Insurance News Net’s “MI Mulls How To Fix ‘Unsustainable’ No-Fault Auto Insurance System” from A.M. Best, Michigan’s Catastrophic Claims Association is stretched far too thin.  This Association pays for any catastrophic injuries from car crashes which exceed $500,000 because drivers in Michigan are required to purchase car insurance that gives them unlimited medical benefits over their lifetime.

After the Insurance Commissioner deemed the MCCA ‘unsustainable’, the Insurance Committee came up with a plan to make some changes to the law and bring about a tier system.  Instead of unlimited medical benefits, drivers could choose to pay for a limit of $250,000; $500,000; $1 million; or $5 million.  This has put many Michigan residents up in arms and has even caused protestors to come to the state capital.  However, even the lowest level of no-fault coverage, from a company like Estrella Insurance, ties New Jersey as the best plan in the United States.

The state is already having financial difficulties and the MCCA going bust would be very bad for Michigan.  Opponents would like to see how the MCCA is spending their money because they lack transparency to the general public.  But some states have just been getting rid of no-fault coverage all together recently as a cost cutting measure.  As car insurance increases force some drivers to drive uninsured and medical costs skyrocket, it is clear that there needs to be some kind of reform to the no-fault system.  Voters in Michigan have twice rejected reform on the ballot, so they most likely won’t agree with getting rid of no-fault coverage completely, but they may be convinced that reform is necessary.

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Wisconsinites Finding Cheap Car Insurance Now

Monday, October 24th, 2011

Drivers in Wisconsin can get excited about spending less on their car insurance premiums very soon.  Back in 2010, Democrats in Wisconsin basically doubled the minimum coverage requirements in the state.  But Republicans, who took control early this year, decided that premiums were getting too high and insurance companies’ costs were increasing too dramatically.  This information comes from “Wisconsin Auto Insurance Changes Set to Take Effect Nov. 1,” by Gregor McGavin of Online Auto Insurance.

Many of the minimum coverage requirements in Wisconsin will be cut in half and some will be cut even farther.  Currently Wisconsin drivers have to carry 50/100/15 coverage, or $50,000 of bodily injury coverage for one person, $100,000 per accident, and $15,000 of property damage.  Those levels will decrease to 25/50/10, making finding cheap car insurance in Wisconsin much easier.  High estimates said that premiums went up as much as 30% with the increased requirements.

There is a debate in the state over whether these cuts were necessary though.  Supporters of decreasing the coverage requirements say that insurers’ costs will go down, causing premiums to go down, and giving more people the ability to purchase car insurance.  Some critics say that Wisconsin consumers will be hurt because increasing health care costs have brought about a need for increasing coverage of medical related car insurance.  The decrease will happen in a few weeks and we will see what happens as Wisconsin goes from some of the highest minimums to some of the lowest.

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PIP Car Insurance Changes in New Jersey

Tuesday, August 9th, 2011

The state of New Jersey is hoping to stop rising car insurance premiums through an overhaul of the personal injury protection car insurance component.  Josh Lederman’s Insurance Journal article, “What New Car Insurance Rules Mean for New Jersey,” says that New Jersey has some of the highest car insurance rates in the United States, and they are increasing largely in part to rising personal injury claims and costs.  A shocking 97% of increasing car insurance rates was based on increasing personal injury costs in 2010.  Insurance companies spent $1.23 for every $1.00 they collected towards personal injury claims.

Personal injury protection is mandatory in New Jersey, as well as about a quarter of the other states.  It pays medical costs and any lost wages after a car accident, regardless of whether or not the accident is your fault.  There are loopholes in New Jersey’s current system that allow some doctors to get larger reimbursements than the system was meant to give by specifically charging for services that are not on a predetermined price reimbursement list.  In order to help insurers like State Farm car insurance keep costs lower, New Jersey is doubling the medical services list with predetermined prices so that doctors will have a much harder time finding loopholes.  Multiple billings for the same visit, uncommon procedures, and limits on billings for the same accident will also be cut down.

The biggest auto insurer in New Jersey, as well as many other insurance companies, are supporting the regulations changes.  Car insurance companies will see an immediate benefit once these regulations are in place.  It isn’t clear whether they will immediately pass savings onto consumers, but New Jersey is hopeful that these changes will keep car insurance rates from increasing.  New Jersey Citizen’s Action does not support the regulations, but since they are not set in stone yet, there is much more debate ahead.

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Gay Marriage & Car Insurance Savings

Tuesday, July 26th, 2011

Gay couples in New York who are now able to legally marry should enjoy the added benefit of savings on their car insurance policies.  Lambda Legal’s article “Top Three Car Insurance Companies in New York Will Respect Gay Couples??? Marriages, Lamda Legal Confirms,” says that the three top car insurance companies in the state will offer gay couples the same marriage discounts as they offer straight couples.  Allstate, State Farm, and Geico insure at least 1/3 of all New York drivers, so hopefully any companies who are not currently offering the same benefits will follow these top companies.  After a questionable situation in which Geico did not treat two married couples equally, they have changed their policies and now treat the policies of all married couples the same.  Since gay marriage is not legal federally, some companies have found ways to avoid following state law because they are protected by federal law.

The insurance industry is one of the top champions of treating gay married couples equally.  Advocates for the gay population are hopeful that other businesses and government agencies will follow in the footsteps of the insurance industry.  Even before gay marriage was legalized in New York, state law said that marriages performed legally in other locations must be respected by businesses.  The 2000 U.S. Census found that 8.9% of the country’s gay couples are living together in New York City, the largest percentage in the country.  Close to 50,000 gay couples lived in New York State back in 2000, so that number has likely grown significantly.  Now that gay marriage has been legalized in New York, couples have the added benefits of discounts on their health and car insurance.  State Farm car insurance quotes for legally married gay couples could be hundreds of dollars less now than they were before gay marriage was legalized.

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Free Car Insurance & A European Vacation

Wednesday, July 13th, 2011

Many car companies are offering some interesting new deals to get you to buy one of their cars, according to The Today Show’s “Buy a new car, get a European vacation” by Tara Baukus Mello.  A discounted European vacation can be had along with discounts of up to 7% off of your new car.  Your State Farm auto quote shouldn’t change regardless of where you purchased your car, so look for some great savings and a fun, unexpected vacation if you take advantage of these offers.  By taking delivery of the car in Europe, you can save up to 7% off the MSRP, and a travel agent works to get you a discounted and sometimes free vacation.  Audi, Porsche, Volvo, BMW, and Mercedes-Benz are currently offering these deals.  Each company offers different discounts and perks, for example Volvo offers two free plane tickets while BMW and Mercedes-Benz offer two-for-one airline tickets.

Your first step is to head into the local dealership and place your order directly from Europe.  The wait time for your exact specifications is usually two months, but if you pick a car that is already made, you may be able to take your European vacation sooner.  There are no negotiations at the dealership because the pricing come discounted straight from the automaker overseas.  After you have ordered your new car, the automaker puts you in contact with a travel agent to arrange your vacation.  Car insurance is provided for at least two weeks by each of the automakers so you won’t have to worry about getting your State Farm auto quote until you get home.  Vacations usually end up costing between $1,500 and $3,000.  Once your vacation is over, you leave your new car at a specific drop-off point and the automaker pays the transportation costs, car insurance, and all other fees.  You get to pick up your car from the dealership about two months later.

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Progressive Car Insurance Website Ranks Tops

Thursday, June 9th, 2011

Progressive.com, the website for Progressive car insurance, has been ranked as the top insurance website by Keynote Competitive Research.  The second quarter Insurance Carrier Scorecard rankings were just released, according to Progressive’s press release “Progressive Car Insurance Ranks Number One on Keynote Systems’ Insurance Carrier Scorecard.”  Progressive’s website has actually ranked number one on all but one of the Keynote Scorecards since the year 2000.  A Progressive car insurance spokesperson said that their main goal is making it easy for customers to use their website to purchase car insurance, review or change the policies, or anything else they are looking to simplify.

They are not only one of the easiest website’s to use, they are tops with innovation and responding to changing technology.  It is as simple to change vehicles during the online quote process as it is to understand the different options for coverage available.  Many top car insurance companies do not have a customer friendly website like Progressive car insurance.  Progressive has a lot of new apps for smartphones that keep them ranking high.  Customers can submit photos of accident damage with one app and actually submit claims for glass damage with another.  In addition to ranking number one overall, Progressive car insurance also ranked at the top of the list in seven of the nine other categories.  The categories they were number one in include ‘get insurance,’ ‘get service,’ ‘functionality,’ ‘quality and availability,’ ‘check and pay bill,’ ‘privacy and security,’ and ‘view policy information.’

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What Do Top Car Insurance Companies Think of Increased Car-Sharing?

Tuesday, May 10th, 2011

Car-sharing has increased dramatically in the past year, especially in Denver where it has doubled, according to The Denver Post.  Bruce Finley’s article “More Denver residents embrace car-sharing” says that the nationwide increase was about 16%.  For a monthly or even just an hourly fee, one of 27 car-sharing companies around the U.S. covers the cost of car insurance, gas, and all maintenance.  There are currently more than 500,000 people registered to use the close to 8,000 vehicles available for car-sharing from these companies.

Monthly fees are usually around $10 per month and hourly fees range depending upon the city.  In Denver you’ll pay anywhere from $4.50 to $6 per hour.  This can save you a lot of money when you only need to use a car once in awhile for some errands or special trips.  Top car insurance companies may not be thrilled with this increased car-sharing though.  With the exception of those companies getting the insurance contracts for the car-sharing companies, insurers may be losing out on members who are getting rid of their cars to save money on insurance, gas, and maintenance costs by car-sharing.

While some car-sharing members are doing it to save money, many are trying to go green or just have some fun changing life up a little bit.  One person quoted in the article just wanted to see if they could do it, while another uses it as a way to get more connected to the city through increased walking to the shared cars.  As more people become interested in car-sharing though, it could become harder to get a car when you need it.  Keeping up with demand for cars is important, but car-sharing companies have to make sure that they can cover their bills on a long term basis and the increase isn’t temporary.  Car insurance companies like Donegal Insurance shouldn’t have to worry too much about losing customers because there are plenty of people not willing to be that flexible when it comes to their cars.  The majority of people want their car available whenever and wherever they need it and are willing to pay for that luxury.

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