Filed under: Car Insurance News
Many drivers across the United States operate uninsured vehicles. On top of that, there are many drivers who operate underinsured vehicles because they are unaware of their state’s laws and regulations pertaining to auto insurance. The laws in Wyoming, for example, differ greatly from some other states in the United States. It is important that you make sure you have an up-to-date understanding of your state’s auto insurance laws to avoid penalties, fines, having your vehicle impounded, or imprisonment.
Wyoming Car Insurance Minimum Requirements
In the state of Wyoming, all drivers are required to keep proof of auto insurance in their car at all times. Thi
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Filed under: Car Insurance News
If you plan to buy a new car and you happen to check out the best car for its mileage, looks, reliability, safety features etc. But have you really bothered to find out about how much it would cost to insure the car? Insuring a luxury car could really cost a bomb – anywhere around $3,544 to insure a Mercedes-Benz SL65 AMG, the most expensive car to insure on the list released by insure.com on the least and most expensive cars to insure.
However, if you wish to cut down on insurance costs then opt for a minivan, The Chrysler, which is at the other end of the spectrum.
Town & Country LX is the vehicle that is the least expensive to insure and has an average national cost of $1,092. Most of the vehicles that have the least expensive insurance are the minivans that include the Toyota Sienna and the Honda Odyssey. These rates have been calculated based on the insurance claims that the insurance companies have had to shell out due to accidents on a particular make and model. It is only logical that those that have minivans will either be using it to run errands or to transport children and are hence most likely to drive safely.
The cars that cost the most to purchase as well as to repair are the ones that cost more while insuring also. The ones on the top-10 list are the high-end models and luxury brands that include 5 from Mercedes-Benz and 2 from BMW. The sleek convertible roadster Mercedes SL65 AMG is sold for $198, 750. Motorists buy these vehicles for speed and are bound to be involved in an accident and repairing luxury vehicles costs a bomb and hence it is more expensive to insure them.
On the other hand, even smaller vehicles that most young drivers prefer, but have poor safety records than their older counterparts will also end up being costly to insure.
Some useful tips to lower car insurance:
- Pay a higher deductible. If you pay a deductible of $1,000 and are presently paying $250, then the premium will be reduced by 40%. You would have saved more after a few years of good driving – enough to pay the premiums to cover deductibles.
- Shop around and switch companies if needed. You could end up saving huge sums of money.
- Grab every opportunity to avail discounts. See if you qualify for discounts just go for it.
Filed under: Car Insurance News
According to the article “Florida Lawmakers Seek to Reduce Costly Court Battles Over Auto Insurance” by Sally Kestin on OrlandoSentinel.com, Florida auto insurance lawsuits are out of control and need to be reined in. Florida auto insurance quotes are increasing and insurance regulators agree that pricey court battles are partly to blame.
Rep. Bryan Nelson believes something must be done soon. He says it’s critical they take a hard look at ways Florida can reduce costs over time. There is currently a proposal under consideration in Tallahassee which would limit the fees lawyers can collect when they win a personal injury protection suit. Fees ca
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Filed under: Car Insurance News
Question:
I have a nursery school and transport pre-school children , also school going children, to their homes. I do not generate income from this. Do I need a PDP license.
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Filed under: Car Insurance News
Increasingly more insurance companies are providing discounts to help vehicle owners save money and pay lower rates. There are many ways you can obtain discounts and trim down the cost of car insurance. All you have to do is contact your auto insurance agent and ask about the discounts that are being offered. With these rewards, you can save thousands of dollars on your policy. The percentage at which these discounts lower your rates varies from one insurer to the next, so it is very important that you compare auto insurance quotes from different providers.
A good auto insurance agent will tell you about the most valuable discounts out there.
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Filed under: Car Insurance News
According to the article “Insurance Study Sees Widespread Fraud in NYC” by Erik Holm, New York City residents are much more likely to file false claims driving up the cost of auto insurance quotes in NYC. This is based on some research conducted by the Insurance Research Council, a nonprofit group funded by insurance companies.
New York state’s “no fault” system was implemented in 1974 and it allows someone injured in a crash to file up to $50,000 worth of claims for medical expenses or even lost wages with their own insurance company regardless of who is at fault. The purpose of this was to speed up processes by eliminated the argument over who whose fault the accident was. Through this system, perpetrators have figured out how to bank on false claims and take home cash.
The state insurance department has been working for over a year to revise the no-fault insurance regulation. The Insurance Fraud Bureau estimates no-fault fraud has increased dramatically from 2006 at 10,117 instances to 13,433 instances in 2009. Auto insurance companies are hoping that the insurance department’s changes will make it easier to deny fraud claims, but it’s going to be a process that may take years to make a difference.
Posted on January 27th, 2011 by Elizabeth Martin
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