March 21st, 2011 by Jaren
The bill that seeks to implement federal standards in state licensing law in order to limit the number of accidents among teens is now undergoing the second round of deliberations.
The STANDUP Act has been reintroduced in Congress and it may be getting traction especially with the study of the Centers of Disease Control and Prevention that the leading cause of death among American teens is vehicular accidents. The teens’ level of inexperience as drivers is being considered a major factor for these accidents. The study revealed that they are four times more likely to get into an accident compared to drivers who are older.
December 28th, 2010 by Jaren
Many American are unfortunately becoming aware of the increasing problem of auto theft, vandalism and how it affects your insurance rates. Every 27 seconds a car is stolen. It is estimated that at least 1 million cars will be stolen this year alone. Auto theft affects your insurance premiums so much so that there are instances where individuals living in certain locations are unable to even secure a regular auto insurance policy because of the risk of vehicle theft.
It’s bad enough that someone would vandalize or steal your car. To make matters worse, you will be the one who ends up paying increased policy rates. You should also know that if you own a car that is considered by auto insurance companies as being high risk for theft, you could pay higher rates as well.
What kind of theft coverage does most standard auto insurance policies cover anyway?
Comprehensive Coverage
Automobile theft is covered by your automobile insurance policy’s comprehensive coverage. If you are paying for comprehensive insurance coverage, you are paying rates determined by the likelihood of your car being stolen. Your auto insurance company will also review the car theft rates in your area, and whether your car’s make and model is frequently targeted by thieves.
Protect Yourself From Automobile Theft
In order to protect your car from thieves, and your wallet from rising auto insurance premiums, take immediate action to discourage theft. Some of the methods you use to thwart thieves could also result in discounts on your auto insurance policy that can further reduce your monthly payments. For starters, install an anti-theft device or alarm on your car. If you are in the market for a new car, ask the dealership to include this feature with your purchase. Check with your insurance company about a possible discount for having an alarm system.
Lock Your Doors
Always lock your car doors whenever you enter or exit your car. Don’t let the fact that you just need to make a quick run in and out of some place keep you from doing this. Also, never leave your car running with the keys inside of the ignition. Engaging in either of these acts can cost you your car. It only takes a few seconds for a thief to take off with your car.
Keep Items In Your Car Hidden From Sight
Avoid leaving items like your purse, packages, or envelopes in plain view. Once inside your car, a thief has immediate access not only to your vehicle, but anything else of value such as credit cards, cell phones or important documents. Consider tinting your windows to keep thieves from seeing what’s inside. Anyone looking to steal items from inside of a parked car in a parking lot would have to get very close against the window to be able to see what’s inside. That would look very suspicious.
Choose A Car With Low Auto Insurance Rates
If you plan to purchase a new car and are interested in getting the best rates, consider doing some research to find out which cars are most likely to be targeted by thieves. When you are ready to buy your car, avoid the cars on your list. Remember, auto insurance companies consider many different factors when calculating your rate. It’s important to shop around to make sure you get the best automotive deals available.
December 22nd, 2010 by Jaren
It is mandatory by most states to carry auto insurance. Auto insurance offers protection to the vehicle owners in the event of a sudden mishap. Many states make it mandatory, for vehicle owners to obtain liability coverage to protect other drivers in case of an accident. There are different types of auto insurance in the state of California. High-risk auto insurance is offered to drivers, who may be considered as high risk drivers. Generally, the premium of high-risk auto insurance is relatively high.
Teenagers are also considered as high-risk drivers, due to inadequate driving experience. As a result, they are charged very high premiums. There is a growing need to make the teenagers understand the importance of a good driving record. Safe driving and a good driving record are important factors that contribute to a lower premium. Insurance with higher deductibles always attract lower premiums. High-risk insurance is also required for cars that can be considered as high-risk such as sports cars. It is recommended to verify the class of the car before buying it. Teenage drivers can buy a ?stand alone policy?, from a company that offers insurance to teenagers.
Generally, car insurance companies determine the premium on the basis of several factors, such as age of the driver, the type of car, driving record, deductibles, and the credit score of the driver.
The driving record of a driver is severely affected by the number of accidents, and the violation of traffic rules. The number of speeding tickets issued to drivers also wrecks the driving record. Most insurance companies refer to the last three years of a driver?s driving record, while evaluating the premium of the policy. Women are considered as safe drivers as they usually drive at lower speeds. Drivers in the city may be charged higher than drivers from small towns. Newer cars also attract high premiums.
Many reputed insurance companies refuse to offer insurance to high-risk drivers. However, there are several insurance agents specialized in providing insurance, to high risk drivers and drivers who own a sports car. The insurance companies may also exercise some limitations, on the types of coverage offered to such drivers.
December 12th, 2010 by Jaren
Auto Insurance
In 1997, the State of Arkansas started tracking the registered motor vehicles in the state with their vehicle liability insurance. This means that the vehicle identification number (VIN) of the motor vehicle in Arkansas must match its corresponding insurance policy declared on the States Office of Motor Vehicle database. Aside from having the same insurance policy on the data base, the state also requires all the vehicles registered in the state to have the required minimum liability insurance.
For bodily injury per one person, the required amount is $25,000 per accident. For bodily injury for two or more persons per accident, the required amount is $50,000.
The property damage per accident is $25,000.
All drivers driving in the streets, roads and highways of the state must carry their insurance cards and must present them to the officer of the law in case of an accident or a traffic stop.
The States Office of Motor Vehicles also requires all insurance companies to notify them of any non-renewal, cancellation and lapses in policy. This means that once your insurance is no longer valid, your vehicle registration is automatically suspended. You will then have to reinstate it and show your proof of liability insurance if you want to legally use it.
Home Insurance
Homeowners in the State of Arkansas generally choose from the three most common types of home insurance in the state: the basic, the broad and the special.
The basic home insurance protects the home from the basic perils, such as fire, lightning, hail, windstorm and theft. The broad home insurance protects the home from the basic perils plus the additional six other perils, such as building collapse, weight of snow or ice and damage from home appliances.
The special home insurance protects the home from all the perils except for earthquake and flood. If you want to have protection or coverage against fire and earthquake, the insurance companies can offer them at additional cost.
The premium for home insurance in the state depends on the following factors: the size of the home and other buildings in the property, the construction cost of the home, the chances of natural disaster occurring in the area, the material of the home, the location of the fire department in relation to the home and the crime rate in the neighborhood. These are the common factors that affect the rate of premium. There are, however, additional ways to reduce the premium; such as availing of the discounts. The best way to get the best price is for homeowners to shop around for home insurance and inquire about how they can avail the discounts they qualify for.
Health & Life Insurance
With the increasing cost of health care, it is important to get health insurance. In the State of Arkansas, there are several ways to find affordable insurance for the whole family. The first thing to do is to shop around for health insurance. Do your research and you will certainly find several insurers that will offer you health insurance that fits your budget. The next thing is try to get the major medical coverage.
Now under the law of the state, insurance companies are prohibited denial or limitation of coverage if you are under a group plan. The law also prohibits insurance companies from canceling a policy because of illness. If you are unable to get health insurance because of a preexisting condition, the Arkansas Comprehensive Health Insurance Pool will offer you coverage.
Now, in terms of life insurance, the most common types in the state are term life insurance and cash value insurance.
The term life insurance shall cover you for a period of one to several years and will pay the death benefit if you die during the covered period.
The cash value insurance is lifetime coverage. At the same time, you can borrow money from the insurance or your policy. This, of course, has higher premium.
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December 10th, 2010 by Jaren
Here are the top 5 factors that affect car insurance premiums:
Gender – like age, there is really nothing you can do about this. Men are generally perceived to be the potential dangerous drivers and not the females. hence, females get lower rates.
Age – younger drivers, particularly teenagers, receive higher premiums for nothing else but age. Inexperienced drivers also receive this because their not yet considered “mature” with their driving. There is really nothing that can be done about this: you get older, you get better at driving and your rates will eventually go down.
Type of Vehicle – we would all love to cruise around on a Pontiac Solstice or Porsche Boxter but you won’t believe the kind of rates these kinds of cars get. If you want lower premiums, get a car with a lower price.
Auto Insurance Companies – now this is something you can control. Despite the determining factors, some companies just offer lower rates than others. It’s up to you to choose.
Driving Violations – this is another thing you can certainly control. While it may be so tempting to race around town upon getting your license, a police ticket is not worth it. It may be a single ticket, but it can do wonders to your insurance premiums as insurance companies keep track of your driving record.
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