Many people don’t take a great deal of notice of their car insurance and, when the time comes for their auto insurance to be renewed, they simply renew it with their existing insurer. If you don’t shop around for car insurance, then you will end up paying more than you need to and, if you don’t check the small print on your policy, you might actually not be insured at all. So, if you don’t give a second thought to your motor vehicle insurance, check out these facts and tips about car insurance that might surprise you.
1. Pay your insurance premiums in one go
It may be convenient to pay your car insurance in twelve monthly payments, but it will nearly always be far more expensive than paying the whole amount up front. Most insurers add an exorbitant price for spreading the payments. It could cost you as much as 30% more.
2. Don’t overdo the excess
A lot of people get caught out by agreeing to an insurance excess over and above what they can really afford to pay. Yes, a high excess will reduce your
Insure your home and car with the same company – Insuring your car with the same company that is insuring your home makes you legible for a discount that is referred to as multi-line discount. Thus, you pay less than you would if you insured your car and home with separate companies. Even then, you need to be sure about the possible discount before making a commitment to get your auto insurance from the company that is insuring your home because not all companies offer the multi-line discount.
· Insure all your cars in one policy – If you have more than one car, you can insure them all under one policy to qualify for the multi-vehicle discount. This lets you enjoy savings on both auto mobiles. Just like the multi-line discount, you need to check if the discount if offered before signing up.
· Maintain a clean driving record – Your driving records are a factor when calculating your auto insurance rate. Consequently, your insurance rates are affected by traffic tickets spanning up to three years and six years for accidents. Having a bad driving
There are an estimated one million uninsured drivers on Britain’s roads and that is what is partly to blame for the spiralling costs of motor insurance. You probably think that those people who are driving without insurance should be punished, but did you know that you could be driving uninsured and not even know it? There are reasons that would mean that, when it comes to the crunch, your car insurance won’t pay out. Here are ten of the surprising ways in which you could be invalidating your motor vehicle insurance.
1. You’ve upgraded your car
If you don’t notify your insurer when you upgrade your car, you could well find that your car insurance is invalid. This doesn’t only apply to the obvious things, like increasing the engine size of your vehicle, it could also apply to something as simple as fitting alloy wheels.
2. Allowing your dog to run loose inside the vehicle
If you allow your dog to romp around inside your car then, quite obviously it could distract you from your driving. If you have an accident then your dog could get the blame
Why is taxi insurance expensive?
Taxi insurance is an essential for any taxi driver or company, but it can be costly. This is because taxis cover more miles than other drivers, and therefore are statistically more likely to be involved in an accident. It can also be that they tend to drive larger vehicles which fall into higher insurance groups.
What types are there?
Firstly, you need to be clear on whether you need private hire taxi insurance (for taxis that are limited to pre-booking only) or public hire taxi insurance (for vehicles permitted to collect passengers at the roadside).
There are three main types of cover, offering different levels of cover and cost:
- Policy only – This is the cheapest and most basic form of cover, so be sure to check it has all the cover you require. The more names that are added to this cover, the more expensive it becomes.
- Named Driver – This is just for the taxi driver to cover themselves, no-one else is insured to drive the taxi. So it’s ideal if you’re the sole driver of your own taxi.
- Any driver- This covers any driver (although normally those over 25) to use the taxi and is the most expensive option.
You are a responsible car owner. You own a good auto insurance policy with comprehensive coverage from a reputable company in the event of collision liability or auto theft. While you probably have experienced a car accident, having your car stolen is something you might imagine as a low possibility.
Unfortunately, car, truck and even motorcycle thefts are a general fact of life. Quotes from numerous victims underscore the need to implement a form of protective plan against the occurrence.
Of course, you probably have been cautioned about all the car theft scenarios before. You know good and well that you should select a well-lit spot for parking. You also know to make sure all car doors and windows are securely locked and never to leave keys dangling inside. But do you know how to really deter the die-hard car thieves?
The following tried and true suggestions may prevent one of the losses you’d never want to deal with.
Four Clever Car-Theft Prevention Tips
• Install lock safety gadgets. These have proved to be well worth the relatively cheap investment in deterring car thievery:
– A hot-wiring prevention steering column collar lock
– Locks that are designed explicitly for the steering wheel, floor board, gear
If you drive a car, truck, motorcycle – or even an ATV, it is mandatory to have insurance coverage. But there is no standard pricing when it comes to your rates. The cost of your policy’s premium in fact is pretty individualized. It all depends on a few things.
Firstly, your vehicle coverage costs are determined by:
• The type of vehicle you drive
• The likelihood of your vehicle being stolen
• The likelihood of your vehicle being involved in an accident
• How much replacement or repair bills will amount to in the event of theft or collision damage and losses
• If your vehicle has certain safety features
To clarify it more, your auto or vehicle insurance premiums also are based upon:
• Fiscal concerns
Do you experience coverage lapses due to non-payment? Is your credit score low? Both of these underscore a risk factor for the insurance company. A tendency to file any form of insurance claim also becomes a gauge for risks that the insurance companies are worried about. All of this leads to higher premium payments.
• Driving behavior
If you have been ticketed for any moving violations, speeding or reckless driving, you are a target for higher premiums. Similarly, those who file claims
To be a good chauffeur you need to present yourself smartly, be courteous, professional and polite. It is also your responsibility to ensure you plan your journeys effectively to make sure you get the clients where they need to be in good time. Working as a chauffeur tends to fall into two categories – working for yourself, building up a client base of private and corporate clients, or driving for a chauffeur company. If you do decide to go it alone, the first thing you’ll need is to buy or lease an appropriate vehicle, but there are some other major considerations too, not least insurance and licensing.
What type of insurance do I need?
To be a professional chauffeur you will need a licence from your local authority and the appropriate vehicle insurance. Chauffeur insurance may also be referred to as executive vehicle insurance or prestige vehicle insurance. It differs from private hire insurance in that as a chauffeur, journeys are pre-booked and cash is not collected from passengers. Also, it is typically large and comfortable prestige cars that are used for chauffeuring, for example Mercedes, BMWs, Rolls-Royce and Bentleys.
Insurance is available at a number of levels – fully comprehensive, third party,
Personal auto insurance helps you drive peacefully and protects you from the financial loss in case of an accident. It is an agreement between the insurance company and the insurer who pays the premium for the future losses as per the policy. Personal auto insurance provides property, medical, and liability insurance.
Property coverage pays for the damage or theft of your car, medical covers the costs of treating injuries. While, liability coverage pays for the bodily injury or property damage. The main purpose of the insurance policy covering loss of an accident whether or not caused by you.
Why Do You Need Personal Auto Insurance?
Issuance of personal auto insurance is mandatory in almost every State. If drivers do not have this type of policy they are liable to pay fines. This policy saves you from getting bankrupt and minimizes the risk of losses.
Fundamental Coverage by Personal Auto Insurance
Personal auto insurance mainly covers six basic coverages areas.
1. Bodily Injury Liability
This type of coverage applies when you or the designated driver injures someone else. It is necessary to have enough liability coverage in this case because the severity of the accident may vary. You should consider more than the minimum requirement for this type
Classification of vehicles insured
The vehicles are generally divided in the following four categories for the purposes of insurance:
(1) Private cars.
(2) Commercial vehicles which refer to any type of mechanically driven vehicle used for business or trade purposes. They may be passenger vehicles, goods vehicles or tractors.
(3) Trade vehicles.
(4) Motor cycles.
Rates are promulgated for each classification, and for rate-making purposes further classification on the basis of the use to which the vehicle is put is made within those classes.
Tariff and Non-Tariff Offices
The insurance companies are of two types. Those which are members of the Motor Tariff Association are called ‘Tariff Offices’ and those which are not the members of the Tariff Association are known as ‘Non-Tariff Offices.’ Most of the companies are tariff offices. The premium rates and policy conditions of all the tariff offices are regulated by the Tariff Association. In Bangladesh there is one Tariff Association for commercial vehicles for the whole country, but for the private cars and motor-cycles there are regional tariffs. The country is divided in seven divisions, Dhaka, Rajshahi, Chittagong, Khulna, Sylhet, Barisal and Rangpur any insurance company lying in a particular division has to become the member of that particular
The owner of an automobile vehicle is exposed to various types of risks. These risks fall into two groups: First, those of damage to, or loss or destruct on of, the car itself and, second, that of being called upon to pay damages for injuries which may be done to others through the use, ownership or maintenance of the car.
The first type of risk may further be classified as follows:
(I) Destruction by fire, internal or external in origin.
(iii) Injury through collision, with some other object, moving or fixed or through upset.
(iv) Other damage to car as by breakage of glass, damage in a flood, or while being transported.
The second type of risk is the liability of the insured to third parties arising out of accidents caused by the use of a motor vehicle on the road. The liability may be for death or bodily injury or for damage to property. The risks also vary according to the class of vehicle, e.g., in a passenger automobile the liability may be for death of, or injury to, passengers or in a common carrier the liability may be toss of or damage to the property carried.
The owner of
The need and utility of two wheelers will never change, no matter which decade or era we are living in. Buying a two wheeler is a sensible and economic decision and there is no need to mention that it is one of the easiest ways to beat the traffic congestion that we face daily on our city streets.
If you are purchasing a two wheeler for yourself, then you must not forget to buy a two wheeler insurance policy as its mandatory to have it under the Motor Insurance Act. You can purchase two wheeler insurance for your motorcycle, bike, scooter, etc. It offers wide coverage that helps you in driving securely.
Features & Benefits
The question that arises is why to buy it? Below is the list of features and benefits that may help you in deciding.
- Stress-free inspection & cashless claim service
- Offer coverage on partial or total loss to your vehicle that occur because of an accident or theft.
- Provide coverage on third party damage and third party bodily injury.
- You may get attractive discounts on renewal (NCB) for a claimless year.
- Predefined reduction for the parts that requires replacement.
- Vehicle transport to the nearest garage in case of major breakdown.
- Lost key assistance
- Add on coverage as
As a prior insurance agent, I was always quick to look for ways to reduce my client’s costs. As I learned more about my field I uncovered a few surprises that you may not have heard about (and your agent may not even know). I recommend that you do your own research by talking with your carrier’s underwriting agent.
First, one that you likely already know about is the potential savings when bundling with property insurance and multiple vehicles. Not only should you research the multi-vehicle discount, but consider bundling in the home insurance too. Most carriers offer both home and auto insurance and will discount the auto premium a few percentage points if you insure both home and auto with them. However; you should consider a few things when making this decision. (1) Make sure that the discount is really an overall cost savings to you. If you can save more by using different carriers then there is no financial advantage to combining. A 5% savings on your auto policy is not a benefit if the carrier is charging 10% more than the competition. (2) If an auto or home insurance agent or carrier’s reputation is not acceptable in your
This article tells you what to do and what not to following a parking lot car accident so that you don’t break the law and can protect your finances.
Did you know that one in every five accidents happens in the parking lots? Although most of them are minor ‘fender bender’ types, many drivers don’t know how to handle the situation. Should I report it to the police? Should I inform my insurer? A number of questions crop up following parking lot accidents. The fact that a parking lot is a private property and a unique set of right-of-way guidelines governs it differentiates it from other types of car accidents. Here are four insurance related issues to consider in case of a parking lot accident.
Since parking lots fall under the category of private property, accidents that occur in such spots come under the preview of a special type of insurance policy – the collision insurance. Whether you are at fault or not, this policy keeps you covered in both cases. If you are at fault, your insurer will pay for the damages made by you. If you are not at fault, you may file a claim seeking reimbursement for
You are an experienced driver. You pride yourself on your expertise. Then, the inevitable thing occurs while texting on your cell phone: you get into an accident!
It’s a rock solid fact that no one in the auto insurance industry will deny. If you drive recklessly and get into an accident with your car, truck, van, motorcycle or RV, your coverage rates will go up – and that’s across the board with all the companies and carriers.
One of the most widely highlighted auto distractions is talking on your cell phone. But experts cite other sources of distraction that you may not have even considered before. With your life and other lives at stake, nothing – they say – but the road should be your focus. Anything other than the road will put you at a risk, causing you to become dangerously preoccupied.
Mind over Matter
Of course, if your mind is on something other than the matter of driving your vehicle, it is not a good thing. Despite our best efforts, the human mind is limited – able to process but a few things at a time. Thus, trying to do several duties simultaneously is definitely life-threatening.
Can you even imagine driving with
Fortunately for travelers who rent cars, most credit card companies offer auto rental insurance as an incentive. So why is it then that about twenty percent of users steadfastly opt to buy extra coverage upon renting a vehicle while another twenty percent intermittently do? According to studies, sixty-two percent of auto renters determine that their personal auto policy do not protect their rental car, and another twenty-four percent are not entirely certain if their credit cards do or not.
Want to know what the major cards cover in terms of auto rentals? A detailed report took stock of the four most utilized credit cards and this is what it came up with.
CC Car Renters Insurance
• Every one of the 4 major cc companies do deliver rental coverage of some sort.
• Every one of the 4 major cc companies provided coverage on condition that the renter charged the full rental car sum on its card and declined any form of supplement insurance that the car rental corporation offered.
• All of these credit card companies have the same policy: they do not provide protection for exotic, pricey or antique automobiles; trucks; open-bed vehicles; and ATV vehicles.
• Four of the cc companies deliver
Most folks claim that their car, van, truck, RV, or motorcycle is one the most costly assets they own. Nonetheless it is relatively common for many people to simplify matters for auto thieves.
Don’t make it easy for criminals to make off with your car. Steer away from common mistakes others make so that you will find your vehicle parked just where you left it.
Six Easy Ways to Make Car Thefts Less Easy
1. Never leave your vehicle while the engine is still on.
Though its common practice to warm up your car in the cold weather, resist the temptation to let it stand for even a minimum amount of time without being inside. Doing so just invites the unscrupulous thief to take it and drive off!
2. Never leave your extra car keys within your vehicle.
Auto insurance companies tell us that anyone who leaves a spare set of car keys within their vehicle offers car trespassers looking for loot an opportunity to move one step onward in their crime without problems. Providing the guy who broke into your car seeking objects of value free access gives him one more thing to steal and one more claim to make with authorities – your car!
In the past, car insurance was not a necessity, as some people went for it and some did not. However, today an auto coverage policy is one of the crucial things in your life, if you own a car. People need proper coverage, no matter how luxurious or modest their car is.
The way people buy insurance has also changed. In the past, buying a car insurance just meant to meet your neighborhood agent and ask him for it. But now, it is somewhat different, as you have got lots of other options at your disposal from where you can get your vehicle insured, with some entirely new coverage choices.
Buying car insurance: Which method to choose?
When you want insurance for your car, you might be puzzled as from where you should get it. Should you deal with an insurance agent or should you go online? You can choose among different options for getting your car insurance. This includes:
- Buying from captive agents
- Buying from independent agents
- Buying online
People, who prefer personal services and like to form face-to-face relationships, should certainly purchase their policy from an agent. But, since there are different agents, they need to decide which one is the best for them.
One of the trademarks of car insurance in the twenty-first century is the fact that there truly isn’t one — that is, the landscape of auto insurance is constantly evolving with new technologies every day. Here, we explore how mobile telematics solutions are the key to helping not just your auto insurance business stay ahead of the curve, but to create safer roads for all.
“Don’t text and drive.”
“Phones just shouldn’t be allowed in the car, ever.”
“People who use phones in the car deserve what happens to them.”
These are all common mantras one hears in most conversations surrounding mobile devices and car use. And with good reason; often, those who utilize their phones while driving are doing so at the expense of paying attention to the road, endangering their own lives and the lives of those around them.
But what if it were possible to use mobile devices safely in the car? Better yet. What if it were possible for mobile phones and tablets to actively make driving, well, safer?
Sound too good to be true? It isn’t — all thanks to the rising tide of mobile telematics solutions that allow auto insurance companies to engage with their customers like never
Finding the best insurance for your vehicle can sometimes seem overwhelming, how much cover will I actually need? Do I need a comprehensive policy that covers everything or perhaps a third-party liability cover will be enough? What does the law require for me to do in terms of vehicle insurance in my state or city? And then, how do I actually go about arranging insurance for my vehicle? Let us cover in 2 easy steps to how to find the best cover for you and how to then shop for it.
Firstly, find out how much vehicle insurance you actually need?
It is always important for drivers to be fully insured for any type of mishap that may happen whilst driving, however, depending on your location you may be required to have a certain type of vehicle insurance if you are of a certain age, driving level skill i.e. how long you have driven for, your gender and most importantly your age and the distance you travel. Are you driving long distances every day or only using your car for driving to work and back short distance? You may want to save some money by using a third-party insurance cover which
You are already aware of the fact that wintertime is known for the most hazardous driving conditions. Now the auto insurance industry is telling you about the dangers of spring. Why? It seems like the season of rejuvenation has its own set of liability risk exposures to deal with as the rain falls and animals awaken form their hibernating slumbers, becoming potential collision targets.
Brush up on your auto and truck skills by reviewing this general safe driving list.
The Eleven steps to Driving Safer in the Spring Time
1. Review your auto policy with an experienced independent agent to make sure your coverage is tailored to your needs.
2. Take good care of your vehicle.
Take advantage of spring’s milder weather conditions to bring your car in for an auto shop check. Have your mechanic assess your fluid level, tire pressure, and suspension and brake systems so that you can drive with peace of mind.
3. Beware of any pedestrian
Spring is the season beckoning us out. It’s when folks actually want to get out of the home and walk. This is certainly the time when drivers need to be more alert than ever for pedestrians crossing their paths.
4. Look out for construction projects