Archive for Auto insurance quotes

 

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Saving Money on Auto Insurance – Auto insurance is a necessity, but it doesn’t have to cost a fortune. This video includes 5 simple steps to saving money on Auto Insurance. We’ve also included more tips for cutting insurance costs below.

Shop Around – The easiest way to save on high risk auto insurance is shopping around. Obtain as many auto insurance coverage quotes as possible. Since there are a myriad of alternatives accessible in the insurance marketplace today, you have the luxury of comparing different rates and opting for the most affordable option.

Take Control Of Your Rates – Being in control of your rates can also help lower the cost of car insurance. Tickets as well as accidents which are no longer paid for should be taken off the coverage at the right time. Each time changes are made to your status, obtain a few quotes and compare the different rates. Perhaps, you will be able to find a plan that allows you to save.

Buy A Cheap Car – The more expensive a car is, the more you will pay in insurance premiums.

Cover Less Miles In A Year – Try to keep your mileage to the minimum. Drivers who cover less than 10,000 miles in a year are more likely to qualify for reduced insurance rates. The more time you spend on the road, the more likely you are to be involved in an accident.

Park Your Car In A Safe Area – Burglary and accidental damages are just some of the factors that can increase your insurance premiums. Cars parked inside a garage or on a driveway are less likely to be broken into or damaged which results in a 4% to 6% decline in insurance costs.

Exercise Caution While Driving – Careless driving will result in additional points in your license. As a result, you will be expected to pay more in insurance premiums. Whereas points attributed to speeding tends to remain on a driver’s license for at least 4 years, insurance companies will confirm if there have been convictions in the past 5 years prior to deleting them from your record.

Install Security Systems In Your Car – Installing security systems, for example, car alarms and anti-lock brakes in your car can also help in lowering your risks.

Avoid Making Changes to Your Car – Do not make changes to your car before informing your insurance provider. Modifications refer to anything that will alter the original specifications, for example, fitting allow rims.

Call Statewide Insurance Agency today for more information on saving money on your Oklahoma car insurance quotes, or visit us online to receive a no-obligation quote.

 

Buying Car Insurance: Young Drivers

Car insurance rates for young drivers in Oklahoma is expensive. Take the time to educate yourself and seek an agent that represents multiple companies so you can find the company that wants your business the most. Whether you are shopping for homeowners insurance quotes in Oklahoma City or for the best car insurance in Edmond, an Independent Insurance Agent is usually your best choice.

Here is a helpful link to assist you in making decisions about your young driver: http://j.mp/1GCrFQk

Edmond Auto Insurance Quotes

Safeco Insurance (a Liberty Mutual Company) is saving Edmond car insurance customers money on their insurance through a program called Rewind. The Rewind program offers qualified prospect permanent forgiveness for an at-fault accident. Qualified Edmond residents will see substantially lower car insurance quotes by participating in the program. Read all the details at http://www.safeco.com/rewind.

The 9 Most Dangerous Things Drivers Do

The best way to stop bad driving is to know what causes it. Check out this list of the 9 most dangerous things drivers do on the road. http://j.mp/1CxXy37

Cheap Car Insurance

Finding cheap car insurance doesn’t have to be time consuming and a hassle.  The key is to find a company that wants “your business”….  not your neighbors or your co-workers business, but yours.  You see, insurance companies have become very sophisticated (complicated) in the way they price their policies.  Statewide Insurance Agency represents about 9 companies on car insurance and I think most consumers would be shocked to see how different they all are in the way they decide who is going to get the cheapest car insurance rates in Oklahoma.  For example, some companies give large discounts if you have been with your current insurance company over 5 years, some aren’t young driver friendly, some increase the rate a lot if you’ve had an accident and some will actually ignore an accident.  So, if the key is finding the company that wants you, how do you do it quick and with little effort?  The answer:  Contact Statewide Insurance Agency.  We’ll use our comparitve rating software to shop all of our companies to find you the cheapest car insurance rates in the Oklahoma City area.  Call us or complete our online form….

www.okstatewide.com

 

Is My Newly Acquired Vehicle Covered?

Customers often tell us they are buying a new car and ask if they need to call us before they drive it off the lot.  Usually, if you currently have Comprehensive and Collision coverage on any vehicle on your policy and if the insurance company insures all your vehicles, physical damage coverage will automatically transfer to the newly acquired vehicle for a temporary period.  Therefore, problems arise when you are carrying Liability Coverage only on all your vehicles and you need physical damage coverage (Comprehensive and Collision) on the new vehicle.  Problems also arise when you are using 2 or more insurance companies to provide your personal auto insurance coverage.  Be safe and ask your agent how your policy addresses this issue.

Immediate Accident Forgiveness

Auto insurance quotes in Oklahoma City are cheaper with Safeco’s Rewind program.  The rewind program provides immediate accident or ticket forgiveness to qualified drivers and the good news is that most drivers qualify.  We continue to have great success in lowering auto insurance rates for Oklahoman’s and the savings is often surprising.  Check out this Rewind Program link…   http://www.rewindprogram.com/

 

Do I need separate rental car insurance?

Properly insuring a rental car can be confusing, frustrating and downright daunting. Unfortunately, many consumers do not even think about car rental insurance until they get to the counter, which can result in costly mistakes—either wasting money by purchasing unnecessary coverage or having dangerous gaps in coverage.
Before renting a car, the I.I.I. suggests that you make two phone calls—one to your insurance agent or company representative and another to the credit card company you will be using to pay for the rental car.

  1. Insurance Company     Find out how much coverage you currently have on your own car. In most cases, whatever coverage and deductibles you have on your own car would apply when you rent a car, providing you are using the car for recreation and not for business.
    If you have dropped either comprehensive or collision on your own car as a way to reduce costs, you will not be covered if your rental car is stolen or damaged in an accident.
    Check to see whether your insurance company pays for administrative fees, loss of use or towing charges. Some companies may provide an insurance rider to cover some of these costs, which would make it less expensive than purchasing coverage through the rental car company. Keep in mind, however, that in most states diminished value is not covered by insurers.
  2. Credit Card Company     Insurance benefits offered by credit card companies differ by both the company and/or the bank that issues the card, as well as by the level of credit card used. For instance, a platinum card may offer more insurance coverage than a gold card.
    Credit cards usually cover only damage to or loss of the rented vehicle, not for other cars, personal belongings or the property of others. There may be no personal liability coverage for bodily injury or death claims. Some credit card companies will provide coverage for towing, but many may not provide for diminished value or administrative fees. Some credit card companies have changed their policies, too, so you may not have as much coverage as you thought.
    To know exactly what type of insurance you have, call the toll-free number on the back of the card you will be using to rent the car. If you are depending on a credit card for insurance protection, ask the credit card company or bank to send you their coverage information in writing. In most cases, credit card benefits are secondary to either your personal insurance protection or the insurance offered by the rental car company.
    If you have more than one credit card, consider calling each one to see which offers the best insurance protection.

 

At the Rental Car Counter

Since insurance is state regulated, the cost and coverage will vary from state to state. Consumers, however, can generally choose from the following coverages:

 

  • Loss Damage Waiver (LDW) Also referred to as a collision damage waiver outside the U.S., an LDW is not technically an insurance product. LDWs do, however, relieve or “waive” renters of financial responsibility if their rental car is damaged or stolen. In most cases, waivers also provide coverage for “loss of use,” in the event the rental car company charges the renter for the time a damaged car can not be used because it is being fixed. It may also cover towing and administrative fees.
    Waivers, however, may become void if the accident was caused by speeding, driving on unpaved roads or driving while intoxicated. If you already have comprehensive and collision coverage on your own car, check with your personal auto insurer to make sure you are not duplicating coverage you already have. Should you decide it is necessary, this coverage generally costs between $9 and $19 a day.
  • Liability Insurance     By law, rental companies must provide the state required amount of liability insurance. Generally, these amounts are low and do not provide much protection. If you have adequate amounts of liability protection on your own car, you may consider forgoing additional liability protection. If you want the supplemental insurance, it will cost between $7 and $14 a day.
    An umbrella liability policy, however, may be more cost-effective. Umbrella liability insurance is so named because it acts like an umbrella, sitting on top of your auto and homeowners (or renters) liability policies to provide extra protection including accidents while driving your own car or one that you rent. These policies, usually sold in increments of a million dollars, cost as little as $200 to $300 annually for a million dollars worth of coverage and another $50 to $100 for each additional million.
    Those who do not own their own car and are frequent car renters, can also consider purchasing a non-owner liability policy. This not only provides liability protection when you rent a car, but also when you borrow someone else’s car.
  • Personal Accident Insurance     Personal Accident Insurance offers coverage to you and your passengers for medical and ambulance bills for injuries caused in a car crash. If you have adequate health insurance or are covered by personal injury protection under your own car insurance, you may not need this additional insurance. It usually costs about $1 to $5 a day.
  • Personal Effects Coverage     Personal Effects Coverage provides insurance protection for the theft of items in your car. If you have a homeowners or renters insurance policy that includes off-premises theft coverage, you are generally covered for theft of your belongings away from home, minus the deductible. If you purchase this coverage through the rental car company, it generally costs between $1 and $4 a day.
    If you frequently travel with expensive items such as jewelry, cameras, musical equipment or sports equipment, it may be more cost-effective to purchase a personal articles floater under your homeowners or renters insurance policy. With such a floater, your valuable items are protected at home as well as while traveling anywhere in the world and the coverage is broader.

 

Other Things to Consider

States have minimum age requirements for renting a car and most major rental car companies refuse to rent a car to someone who is under 21 and in some cases under 25. In addition, some rental car companies now investigate your driving record and/or credit history so check with the rental car company before picking up the car.
If you are planning to rent a car abroad, contact both your insurance agent and travel agent to find out what you need to do to be properly insured. Those driving a rental car from the U.S. into Mexico may find it progressively more difficult to rent a car as U.S. rental car companies are increasingly concerned about the rising crime rates in that country. The minimum required insurance coverage to drive in Mexico is civil liability insurance which covers you in case you cause injury or damage. Your American liability insurance is not valid in Mexico for bodily injury, though some American insurance policies will cover you for physical damage—check with your agent or insurance company representative. You can also buy Mexican car insurance in several American border towns; there are generally several storefronts selling Mexican car insurance near the border.
Note: If you’re renting a car abroad, you may need an international drivers license.

http://www.iii.org

 

 

Eight Auto Insurance Myths

March 1, 2011

When purchasing car insurance, it’s important to understand the factors that affect your car insurance premium rates and coverage. But how do you differentiate between truth and fiction? A good place to start is by dispelling some  common myths about auto insurance:

Myth 1 – Color determines the price of auto insurance

It doesn’t matter if your car is red, green or purple. What does matter is the type of car you select. Before you buy a new or used car, check into insurance costs. Auto insurance premiums are based on make, model, body type, engine size, the age of the vehicle and the age, driving record and credit history of the driver. Premiums are also based, in part, on the car’s sticker price, the cost to repair it, its overall safety record, and the likelihood of theft. Many insurers offer discounts for features that reduce the risk of injuries or theft. These include daytime running lights and anti-theft devices.
For years there has been a notion that color plays a significant part in calculating insurance premium costs, many people believing that red cars cost more to insure because they are linked to aggressive driving or speeding. The fact is, insurers have no interest in the color of a car, but they are interested in knowing if you have had any previous car accidents, the number of miles you drive annually and where you live.

Myth 2 – It costs more to insure your car when you get older

Quite the opposite—many drivers over 55 years of age can, in fact, qualify for a reduction in auto insurance rates, typically for three years, if they have successfully completed an accident prevention course. Insurance companies will usually provide up to a 10 percent discount on car insurance, but check with your provider before you sign on. Mature driving courses are available through local and state agencies as well as through the AAA and AARP. You can also check with your insurance agent to find out which defensive driving courses are approved by your insurer. If you are retired or are not employed full time, you may also be eligible for a discount of up to 5 percent off your car insurance. Age requirements for this type of discount vary by state and insurance carrier.

Myth 3 – Your credit has no effect on your insurance rate

Your credit-based insurance score does matter. An insurance score is a measure of how well you manage your financial affairs, not your financial assets. Many insurance companies take your insurance score into consideration when you want to purchase, change or renew your auto insurance coverage. Because the majority of people have good credit, and insurance scores are derived from a person’s credit history, most people pay less for insurance when insurance scores are entered into the pricing equation.

Myth 4Your insurance will cover you if your car is stolen, vandalized or damaged by falling tree limbs, hail, flood or fire

Comprehensive and collision coverage are optional coverages. Lenders frequently require drivers to buy comprehensive and collision coverage as a condition of a car loan agreement. Those driving older cars sometimes drop these coverages as a way of saving money. If a car is worth less than $1,000 or less than 10 times the insurance premium, purchasing the optional coverages may not be cost effective. But bear in mind that you need to purchase both collision and comprehensive coverage in order to fully protect your vehicle from all types of damage.

Myth 5You only need the minimum amount of auto liability insurance required by law

Almost every state requires you to buy a minimum amount of auto liability coverage. Chances are that you will need more liability insurance than the state requires because accidents often cost more than the minimum limits. In today’s litigious society, buying only the minimum amount of liability means you are likely to pay more out-of-pocket for losses incurred after an accident—and those costs may be steep. The insurance industry and consumer groups generally recommend a minimum of $100,000 of bodily injury protection per person and $300,000 per accident.

Myth 6If other people drive your car, their auto insurance will cover them in the event of an accident

In most states, the auto insurance policy covering the vehicle is considered the primary insurance, which means that the owner’s insurance company must pay for damages caused by an accident. Policies and laws differ by state, and you should be familiar with these differences when allowing another person to drive your car.

Myth 7Soldiers pay more for insurance than civilians

If you are in the military—regardless of which branch—you actually qualify for a discount on auto insurance. In some situations you might be able to have your commanding officer make a phone call on your behalf, but for most auto insurance companies, you will need to supply documentation that lists your name, rank and the time that you will be enlisted in the service. This allows insurance companies to determine how long you will be eligible to receive a military discount. Many auto insurance companies provide discounts for former members of the military as well as their families.

Myth 8Personal auto insurance covers both personal and business use of your car

If you are self-employed and use your vehicle for business purposes, personal auto insurance may not protect you. While auto insurance geared for businesses can be more costly than a personal policy, one of the best ways to keep your auto rates down is by having a good driving record. If there are others, such as employees, using your car make sure they also have good driving records. Check the records of your employee drivers at least twice a year to ensure they maintain a clean driving record.

Auto Insurance Quotes Oklahoma City/Protecting Your Assets

Bodily Injury and Property Damage Liability (BIPDL) coverage is, in my opinion, the most important coverage on your auto insurance policy. The limits that you purchase represent the amount of money that the insurance company will pay to someone else due to an accident in which you caused bodily injury or property damage. If you do not have sufficient limits to settle a claim, the other party can sue you to recover additional money above your insurance coverage.

BIPDL coverage protects your personal assets! Therefore, the more assets you have, the higher coverage you should carry. Personal Umbrella Policies (PUP) will provide you with $1,000,000.00 of coverage over and above your base policy limits. These policies are almost always very inexpensive relative to your potential savings. Your BIPDL coverage should usually be the last place you look to try to save money.