When shopping for car insurance, learn from hurricanes

Hurricane Katrina offers many lessons in preparing for disaster, and adequately insuring your car is one of them. To save money, many people purchase only liability auto insurance — especially if they have older cars. This is the coverage required by law, and pays for damage caused by your car. However, in the event of a natural disaster, comprehensive coverage is what you’ll need to get back on the road. Damage caused by wind, hail, trees and even flooding is covered by comprehensive plans, as is damage from vandalism and theft. Your homeowner’s or renter’s insurance policy would most likely cover possessions in your car, which is important since natural disasters are sometimes followed by looting and vandalism. If you have only liability insurance for your car, you’ll be on the hook for the cost of repairs or replacement. Even if hurricanes Wilma or Katrina didn’t personally affect you last year, the potential impact isn’t over yet. One way you could be affected is by purchasing a used car that appears to be in good condition, but in fact was flooded in one of the Gulf Coast states. Flood-damaged cars are often moved to other states and sold to unsuspecting buyers. Experts put the estimate of flood-damaged vehicles last year somewhere between 250,000 and 500,000. While insured cars will be reported to the National Insurance Crime Bureau (NICB) by the issuers paying claims, not all cars are insured. This means flood-damaged cars may get scooped up at great prices at auctions or as trade-ins and potentially fall into the hands of used-car buyers. Robert Bryant, NICB president, recommends that buyers take precautions to ensure they don’t purchase one of these cars: • Check the vehicle identification number number of any car you’re considering buying against NICB’s online database of flood-damaged cars. This service is free and available at www.nicb.org. • Buy a vehicle history report from Carfax (www.carfax.com) or Autocheck (www.autocheck.com) to find out if the car is listed as flood damaged or originally titled in a Gulf Coast state. These reports cost about $20 for a single car or $25 for unlimited reports over a 30- to 60-day period. • Have the vehicle inspected by a licensed mechanic you trust before buying. • Inspect the car yourself. Look for signs of rust on engine parts and screws, or a mildew or musty smell. Thinking of buying a new car? One way to keep your auto insurance premiums down is to buy a car that nobody wants. No auto thieves, anyway. The NICB reports that car thieves in the United States continue to favor imports over domestic brands. Honda’s Civic and Accord, and Toyota’s Camry topped the list of the most stolen vehicles in 2004. The Dodge Caravan and Ram, Toyota pickup, Acura Integra, and Nissan Sentra also made the top 10 list. Insurance companies track the statistics of stolen cars and adjust auto insurance rates accordingly for the most popular makes and models. If you’re serious about saving money on insurance, check out the list at www.nicb.org. A car’s make, model, year, weight, horsepower and body type also influence the insurance premium. According to Robin Harbage of Progressive Auto Insurance, surveys reveal that even the most cost-conscientious shoppers are more concerned with the economics of buying a car rather than what it costs them to use it. Source: federaltimes.com

Lower Your Car Insurance Premiums

Some Tips To Lower Your Auto Insurance Costs: 1. Get Multiple Quotes: Find out what your State's requirements with respect to car insurance are. Go to the National Association of Insurance Commissioners web site. Then choose your state's website and click on it. You will the find complete information about the coverage you need. Now visit different car insurance websites. Click on the get a quote links. Just key in your information and get quotes from at least 5 companies. Auto insurance premiums vary greatly from one insurance company to another. If you fail to understand some part of the policy then get the insurance agent to explain it to you. Always read the fine print to understand what cover is entitled to you and most important what cover you are EXCLUDED from. 2. Save Insurance Premium Money On Older Cars: If you own car that's not worth much say less than two thousand dollars then drop the collision/comprehensive coverage clauses on your car insurance cover. If you car suffers extensive damage or is totaled then you will probably never recover much in damages and it is most likely that you will pay more in car insurance premiums for the extra cover. Get you car valued for its fair market price either through a dealer or using the Kelley Blue Book. Then decide if you need the collision or comprehensive coverage for your older car. Start putting away that extra premium amount you would have paid for the collision/comprehensive cover for the older car in a savings account. You will probably get a head start for that new car you are dreaming about! 3. Drop Duplicate Medical Coverage: If you are already covered under other policies for medical insurance in case of accident and are already paying a hefty premium on that then you eliminate the duplicate medical coverage under your car insurance. But always ensure that you are medical insurance covers you adequately for any car accident related injuries. Only then ask for the dropping of this provision in your auto insurance policy. 4. Buy A Car With A Low Profile: Safe, low profile cars qualify for lower premiums. A high profile car means more premiums. If auto insurance costs are high on your mind than choose a safe, reliable car. 5.Low Mileage Qualifies For A Discount: The lesser you drive the car the lesser your auto insurance costs. So consider car pooling, using public transportation for long commutes to reduce your auto insurance premiums. 6. Safety Features Qualify For Discount Do you know the more number of safety features in your car qualify for more discounts on your car insurance policy. Specifically, ask for these discounts if not mentioned in your quote. Also, many companies offer discounts if you install safety features in your car like an active or passive auto anti-theft device in your car or if you etch the vehicle identification number in the corners of your windows. Park your car in a protected area. Always lock your car. Never leave packages or belongings in sight in your car. Avoid known high-risk parking areas. 7. Ask About The Other Discounts: Always ask about the other discounts that you might be entitled to. For example having a 20 year accident free safety record could qualify you for a discount on your auto insurance policy so always ask. 8. Ask About Area Based Car Insurance: If you are considering a move from a highly congested area to a rural area then your car insurance premiums may be considerably reduced based on the profile of the area you moving into. 9.Ask For Higher Deductibles: Deductibles are the amount you pay before you make your claim. Higher deductibles on collision and comprehensive (fire and theft) coverage will substantially reduce your costs. 10. A Clean Credit History Can Reduce Car Premiums: Most of the insurance companies will check your credit history before granting your application. A clean credit history and a reasonably clean driving record represent a smaller risk for the insurance company and you may well qualify for a preferred policy with lower premiums. On the other hand those with bad credit histories may have problems in keeping up car insurance payments and keep policies in force, also they have higher claims to loss ratio so insurers will usually put them in higher premium bracket. Samuel Beatson Runs http://www.tai-chi-kung-fu.com and http://www.cars.internets-business.com.

Sainsbury's Bank Life Insurance discount introduced

Customers who take out Sainsbury's Bank Life Insurance before March 26th 2006 have been offered a discount of five per cent. Premiums with the company start at £5 a month, a rate which Sainsbury's claims is among the most competitive in the market. The offer follows research conducted by the bank, which reports that up to 4.2 million people in the UK do not have life insurance on their mortgages. Covering one's mortgage in such a way is recommended by the company in order to avoid passing repayments on to loved ones in the event of death. Life insurance manager with Sainsbury's David Pickett said: "Homeowners in particular should take care not to overlook life insurance as it can help to ensure the property is paid for upon death alleviating any financial burden and may even provide financial security for loved ones." Sainsbury's Bank Life Insurance is provided by the Legal & General Assurance Society. Further information on this offer can be found on the bank's website, or Sainsbury's can be contacted directly for a quote. Source: www.moneynews.co.uk

Tips To Reduce Your Car Insurance

You have probably seen a huge rise in the number of car insurance companies offering their services. From TV adverts, to leaflets through your door, to radio jingles, the list goes on. It may seem a little frsutrating when renewal time comes. The choices out there are huge. Do you go for this company because they are offering a free keyfob with every cover - or this one because you like the sound of their jingle. Neither, there are many ways to find the best car insurance policy a few tips we will cover here. First; a car alarm will not only frighten off the thiefs, but also help lower your insurance. An immobaliser has the same affect and better still an alarm, immobaliser AND garage parking. The safer your car the less chance of theft or damage caused by theft. Second; when you have passed your test the first thing usually recommended to you by your instructor is advanced lessons or advanced course. You may think 'I've already passed, I don't need to' but insurance companies treat your devotion to safer driving seriously. Not only will it help you with your skills, but will save a few pounds. Third; shop around. There are a number of companies, and with competition comes price wars. Insurers are looking for your business, don't be afraid to try and haggle on price. If not you could try an online company, e.g. theaa.com, who will contact a number of leading insurers to get you the best quote. Fourth; buy your car insurance over the internet. Many car insurers are offering discounts of around 10% simply for buying online. If your car insurance is usualy £800, you save £80 instantly buying online - well worth logging on for! Doug Taylor is article writer for Car Insurance Online UK http://www.carinsuranceonlineuk.co.uk.

Sainsbury's Bank Travel Insurance issues advice to tourists

Sainsbury's Bank Travel Insurance has recommended its packages to travellers on the back or research reporting that, in the past year, 3.33 million people have taken holidays overseas without insurance. This comprises about 13 per cent of all travellers to foreign countries. Holidaymakers between the ages of 16 and 24 were the least concerned about insurance, with 24 per cent of this age group ? some 1.08 million people ? travelling uninsured. Those over 65 were next in the list of uninsured tourists, with 496,000 people ? 14 per cent of all travellers aged over 65 ? not purchasing cover before leaving for their trips. "Travel insurance is essential for anyone going abroad, even if they are just planning a long weekend," claimed Karen Preston, Sainsbury's Bank Travel Insurance manager. "Last year, we estimated that there could have been around 241,000 travel insurance claims for medical or hospital care alone," she added. Sainsbury's Bank Travel Insurance has been awarded a best buy status from market analysts Defaqto for the last five years and offers insurance cover starting from £22 for a fortnight in Europe. Source: www.moneynews.co.uk

Car insurance rates seen levelling off

Motor insurance rates are expected to level off in 2006 with not much change expected for the year in respect of cover, limits and deductibles, according to leading South African insurers. "However, they do believe that capacity is beginning to reduce as insurers/reinsurers are becoming more sceptical about motor as a profitable class of insurance, presumably this is based on the adverse underwriting results reported towards the end of 2005, which was mainly due to the rising costs of repairs in the motor industry," says Diann Johnson, a senior broker at Alexander Forbes Risk Services. Johnson says that in 2006, insurers will be faced with the challenges of defending their current market share and growing their book of business in terms of this class of insurance, while still maintaining underwriting disciplines in order to focus on profitability. "Insurers have predicted that during 2006, we should expect to see a levelling off in rates where they will provide terms on an 'as expiring basis' rather than the reduced rates which we saw during 2005," says Johnson. Some insurers feel that, if they do not see some increases in rates soon, the premium reductions experienced during 2005 will disappear altogether during 2006. An overall decline in hi-jacking and theft of motor vehicles over the past few years, resulted in competitive rates during 2005. Any increased premiums during 2005 were mainly due to client-specific adverse claims experience. "With regard to 1 January 2006 renewals, insurers remained very competitive. They are still prepared to provide increased limits while deductibles remained flexible. However, they moved away from a percentage- of-claim deductible to a fixed-figure basis. Insurers are also still keen to provide cover on a retail value basis," says Johnson. Source: business.iafrica.com

Renter beware with rental car insurance

Most of us have rented a car at one time or another and wondered if we should take out that insurance coverage they always try to push. Many people decline the extra coverage, but now that may not be such a good idea. It's a case of renter beware. KHOU-TV Car rental companies want you to be responsible for damage caused by bad weather, including hurricanes. Most rental car companies like Hertz, Budget and Avis are now holding drivers responsible for damage caused by bad weather. That includes everything from hurricanes to hail. "I don't think it's fair because you pay enough for rentals anyway," said one renter. "How are you gonna tell from what could happen with the weather?" said another renter. "The rental car companies are taking advantage of what happened with Hurricane Katrina and Wilma to pass these costs on to consumers," said Clarence Ditlow, Center for Auto Safety. The companies say the changes were underway before last year's devastating hurricanes. Car rental giant Hertz said that oftentimes there are warning signs before a bid storm strikes and they want drivers to get out of harm's way and take Hertz's cars with them. Critics say it's just a way to scare you into paying for what's called a "Loss Damage Waiver". "Now you're afraid of having to pay $20,000 or $25,000 for a vehicle should it get damaged through no fault of your own," said Ditlow. For about $9 a day, you can switch the responsibility for any damage back to the rental company. California and Wisconsin have laws that prohibit drivers from being stuck with storm damage The Center for Auto Safety wants that protection in every state. "We're gonna suggest that every attorney general adopt the language of the California code and prohibit this egregious unfair conduct by the car rental companies," Ditlow said. Meanwhile, do your homework because your own insurance policy may cover damage to rentals and most credit cards also offer protection. Source: www.kvue.com

Halifax Car Insurance: Drivers wasting hundreds of pounds

Halifax Car Insurance has suggested that drivers make an effort to share cars and therefore cut the motoring costs incurred by many different drivers. According to the bank's report, over ten million cars on Britain's roads during weekday mornings lead to 38 million empty seats overall. It also claimed that the average cost for a lone driver travelling to work is £1,017 over the course of a year ? an outlay that could be cut in two if people were to car share with a colleague. Of all the people surveyed, 25 to 34-year-olds had the most positive attitude to car sharing, but 18 to 24-year-olds were the group who most widely put it into practice. For every 100 commuters between the ages of 18 and 24 there were 30 passengers, while for 55 to 64 year-olds only one passenger for every 100 drivers was reported. Mike Pickard, head of risk and underwriting at Halifax, said: "Passengers in the car not only improve your environmental credentials, they can also act as an extra pair of eyes for you, especially in the morning rush hour when traffic is at its heaviest." Halifax Car Insurance offers a ten per cent discount to customers who book online and gives a five-year guarantee on repairs and 24-hour emergency assistance. Source : www.moneynews.co.uk

Proposed car insurance rates pit urban vs. rural drivers

Urban and rural drivers faced off Friday over a new way to calculate car insurance rates that would be based more on how people drive than where they park their cars. Insurance Commissioner John Garamendi proposed changes he said would make insurance costs more equitable by tying rates to drivers' records, how long they've been driving and how many miles they drive a year - instead of ZIP codes. Rates would likely drop in big cities, where people cover fewer miles and have paid a higher price for living in more congested, risk-prone neighborhoods. But rates would rise in the remote countryside, where a trip to school or work can mean hours behind the wheel. "We're rural, rural, rural," said Inyo County Supervisor Linda Arcularius, pointing out that her county has only 10 stoplights over 10,000 square miles. "Our risk is just so low." The plan, announced in December, is supported by Los Angeles and San Francisco city governments, the National Association for the Advancement of Colored People and consumer groups. "This is, we hope, the final lap in a long race to fix a broken system in California, and base it on how you drive, and not where you live," said Mark Savage, attorney with Consumers Union, who spoke before a public hearing on the proposal. Minorities living in lower-income urban neighborhoods have long complained of being penalized by the current system, and many were on hand to describe how living in the "wrong" neighborhood can mean sky-high rates, even for drivers without an accident to their name. "It's time to end socioeconomic discrimination in the auto industry," said Henry Rosales, with the Spanish Speaking Citizens Foundation. Proponents of the change said it was time the state implemented the changes described in Proposition 103, approved by voters in 1988, which asked insurers to give more weight to a driver's safety record and experience instead of gender, marital status, ZIP codes and other factors currently used to calculate rates. "The aim is to increase fairness and reward consumers with good records," said Bryant Henley, staff counsel with the California Department of Insurance. Insurance companies don't think the new plan would accurately reflect the risks drivers face, making the pricing system less fair and going against the intentions of California voters. "You find that you're now subsidizing one set of individuals through another, and that's not fair," said Kate Diehl, legislative advocate for Association of California Insurance Companies. Farmers and officials from rural communities also opposed the proposal. If the idea is to avoid taxing minorities, the state commissioner should make sure rates don't go up in rural counties, where immigrants gravitate toward farm jobs, officials from rural areas said. Most of Imperial County's residents are minorities, and the southern California county has the state's highest unemployment and poverty rates, said Supervisor Gary Wyatt. "This will hit our people even harder," he said. The public comment period on the proposed changes was extended to March 6. ON THE NET http://www.insurance.ca.gov/

Policy vs fake car insurance readied

The interagency committee tasked to resolve the proliferation of fake insurance policies for motor vehicles is expected to make the recommendations on how to address the unpaid claims and non remittance of taxes to the national coffers in the next quarter. Finance Secretary Margarito Teves said in a speech during the launching of the official Web site of the Insurance Commission that the committee would finally submit recommendations after reviewing various proposals submitted by different groups. Teves said the proliferation of fake insurance policies or compulsory third party liability (CTPL) policies has resulted to foregone revenues on the part of the government in the form of unpaid taxes as well as unpaid insurance claims on the part of motor vehicle owners. A CTPL policy is a mandatory vehicle insurance that guarantees a certain amount of benefit for victims of car accidents. The committee is composed of representatives from the Department of Finance, Department of Transportation and Communications, Land Transportation Office, Land Transport Franchising and regulatory Board (LTFRB) and IC. The committee is evaluating proposals from the Philippine Insurers and Reinsurers Association Inc. (Pira), the state-run Government Service Insurance System (GSIS), the DTech Management Inc. (DTECH) and Road Accident Managed Services Inc. (Ramsi). IC Commissioner Evangeline Escobillo told reporters the establishment of the CTPL central processing center (CPC) was the ultimate solution to the problem in which only half of the CTPL policies worth P2.5 billion are genuine while the other half are spurious. “This solution is a system to solve the anomalies. The system is to have a CTPL processing center which is also going to pass through the insurance clearing center to ensure that no insurance company with no license can issue a policy. The system will ensure also that all the taxes are properly remitted,” Escobillo added. She said the CPC would have to be linked up with the LTO database managed by Stradcom, banks where motor vehicle owners would pay through the express payment system or the Internet, and the Bureau of Internal Revenue (BIR) that would collected the taxes. She said the solution to be recommended by the committee would have to be approved by Teves and DoTC Secretary Leandro Mendoza. It is looking for a win-win solution to prevent the closure of 95 life insurance companies and the lay off of up to 130,000 direct employees and insurance agents. source : www.manilastandardtoday.com

Car insurers must release brakes on premiums soon

SHOULD we expect motor insurance costs to rise? It's March and the rush to buy newly registered cars will, over the next few weeks, release thousands of used cars on to the market. It's a busy time too for the insurance industry and there's no doubt that buyers are becoming much more savvy about finding the best car insurance deals. According to the AA's British Insurance Premium Index, the average premium quoted for car insurance has been fairly static over the past five years - indeed, typical comprehensive cover is a little cheaper than it was three years ago. The average premium quoted for comprehensive cover is currently £760. The market has become increasingly competitive - partly influenced by the internet as more people become confident about buying online. Indeed, about 15% of all car insurance is now bought in this way. Not much, you might think, but this is an almost three-fold increase over 12 months. Non-traditional channels such as supermarkets and other high-street retailers are also taking a bigger slice of the market. The consumer's desire for new cars is falling - Britain's 26 million drivers have an estimated 30.4 million cars but, according to research organisation Mintel, the slowing property market and rising levels of debt are stunting the growth of the UK car population. At the same time, the 'grey' market is growing rapidly, while according to the Department for Transport's latest statistics, young people are much less likely to hold a full driving licence now than at any time since the late 1970s. So we have a relatively static market and customers are spoilt for choice. Car insurance is sold almost exclusively on price rather than benefits, and the industry last year spent a staggering £164m on advertising - four times more than in 1999 - appealing to this market. As a result, the lid has firmly been kept on average car insurance premiums, which is a good thing for customers. Or is it? The stark truth is that insurance company costs are rising much faster than premiums, and it's not just marketing costs that are going up. Despite safer roads and a generally falling trend in the number of accidents, the cost of insurance claims is rapidly rising. The Association of British Insurers estimates that accident claims inflation is rising by up to 6% per year because of increasing labour costs and the growing complexity of modern cars. Today's cars are designed with 'crumple zones', which means much more damage to the vehicle in an impact but greater protection for the occupants, leading to much higher repair costs than in the past. Similarly, we live in an increasingly litigious society, assisted by the growing number of companies offering to help accident victims pursue personal injury claims, adding a further 12% per year to claims inflation. These costs ultimately find their way to insurance premiums. Add to that the cost of uninsured drivers. It's estimated that about one in 20 drivers in the UK don't pay insurance, and this costs every honest driver on average £30 per year - totalling £500m. This is what the insurance industry contributes to the Motor Insurers' Bureau, which compensates the victims of accidents caused by uninsured drivers. In 2004, the insurance industry earned about £9.5bn in premiums - but paid out £9.6bn. So it's clear that the 'elastic' between premiums and costs is being stretched to breaking point. And if the elastic breaks, we could well see a sudden hike in insurance premiums and the kind of double-digit premium inflation we saw in the mid to late 1990s. However, it is not all doom and gloom for insurers. The growing 45-year-old-plus market is more stable and presents lower risks than younger drivers. Young drivers are set to increase in number over the next five years. And the ending of 'days of grace' for customers who renew their car insurance late (and are thus driving without insurance) and other changes aimed at cutting the number of uninsured drivers will take pressure off insurers. So although the danger of a sudden increase in premiums later this year is certainly present, it is more desirable that the industry introduces gradual premium increases. That would be better for customers and for the reputation of the industry. aource: scotlandonsunday.scotsman.com

Liverpool continues car insurance crackdown

Liverpool has seen a surge in applications for car insurance following the first wave of a crackdown on illegal driving in the city. Approximately 20,000 drivers, or around one in nine of suspected uninsured drivers, have either been in touch with insurance companies or have removed their vehicles from the roads. After the first six weeks of Operation Tango, the number of uninsured vehicles is believed to have dropped by 20,000 from 175,000 to 155,000, according to Liverpool's Daily Post. Of the 1,587 cars confiscated, 460 have actually been crushed. Other cars have been returned to finance companies, with drivers required to pay if they want them back, in addition to the cost of car insurance and tax and a £200 fine. Local police are aiming to seize 1,000 uninsured cars a month until the situation has been brought under control. Chief superintendent, Paul Forrester, said: "The message is quite clear: if you go out in a car that is not insured you'll get caught." source: www.fairinvestment.co.uk

The Hartford Announces Lower Car Insurance Prices in Indiana

Company's popular 'Dimensions' product purchased through agents now priced more favorably for customers HARTFORD, Conn., Feb. 15 -- To better serve its Indiana agents and customers, The Hartford Financial Services Group, Inc. , one of the nation's leading providers of investment and insurance products, announced today that it will offer lower prices to many drivers under its popular Dimensions personal auto insurance program, which is available through the company's network of independent agents. (Logo: http://www.newscom.com/cgi-bin/prnh/20051208/HARTFORDLOGO ) New price adjustments will make the competitively-priced Dimensions plan an even better choice when it comes to car insurance in the Hoosier state. These changes will enable agents and their front line representatives to reach a greater number of customers with the following benefits: * Lower prices for approximately one-third of existing and prospective customers. * Annual savings of $100 or more for 25% of these reduced-price customers. * Changes effective February 15, 2006 for new policies and April 5, 2006 for renewal business. "The auto insurance market is extremely competitive, and we're constantly reviewing our rates to remain a top player in the state," said Mike Concannon, senior vice president for The Hartford. "While Dimensions is already a huge success, we're thrilled to be offering it at even lower prices. This will certainly give our 117 personal lines agents in Indiana one more reason to quote The Hartford." The Hartford's announcement marks the third time in the past year that the company has voluntarily lowered personal auto insurance prices in Indiana. During that same period, it has also grown the number of its agency relationships from 71 to 117, leveraging its competitiveness, financial strength and leading edge technology to remain a trusted name with both agents and policyholders. About The Hartford's Dimensions Program: One of the most sophisticated underwriting plans in the industry, Dimensions offers a state-of-the-art, multi-dimensional approach to pricing, or "rating," a customer's driving risk. By connecting and calculating numerous risk factors -- such as age, driving history, vehicle age and vehicle use -- The Hartford enables agents to generate a customized rate for each policyholder. Unlike other programs, Dimensions evaluates customers on an individual basis so that one driver will not affect the rates of other members in the same household. With this personalized approach, agents are better equipped to keep their customers satisfied at every stage of life without drastically changing the price they pay for auto insurance each year. Underwriting is also much easier for agents and their service representatives, who can take advantage of The Hartford's easy-to-use electronic quoting, submission and issuing systems. The Hartford's Dimensions plan, which offers a full range of comprehensive auto coverage, was first launched in 2003 and is now available in 41 states, including Indiana. Since the program's inception, the company's Indiana agency-based auto insurance business has grown more than 55 percent. The Hartford, a Fortune 100 company, is one of the nation's largest financial services and insurance companies, with 2005 revenues of $27.1 billion. The Hartford is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, Brazil and the United Kingdom. The Hartford's Internet address is http://www.thehartford.com/. Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2004 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued. Source: www.theautochannel.com

New Jersey Car Insurance

When purchasing New Jersey car insurance there are many decisions you will have to make. You need to understand what kind of car insurance coverage you need and how much you can afford to pay. New Jersey car insurance will have no trouble meeting your needs but you, yourself, must know what you need in insurance for New Jersey driving before you purchase. Just keep in mind that there are many options for Nj insurance available with all the different companies selling insurance.

When purchasing NJ car insurance, there are some things the agent is bound by law to inform you. For New Jersey car insurance you have three coverage choices called "Insurance Scenarios". The car insurance agent this will let you know how each choice may affect your policy and what you pay for benefits if you happen to have an accident. He/She should tell you that you can cancel your car insurance anytime you want, for example, if you find better car insurance with another car insurance company. You can also change the insurance coverage and policy limits for your car at any time, even if you are not close to your car insurance renewal. If you select options when you purchase New Jersey car insurance then it may pay off when you're ready to cancel there may be a refund if you cancel early. All New Jersey car insurance companies must give you back the refund within thirty days from the day you cancel your Nj car insurance. New Jersey car insurance is divided into different coverages, but this is based on the type of claim that will be paid out to you or others. One is personal injury protection - this protects you or others depending on who is in the car at the time of an accident, and will pay the medical coverage regardless of which driver is at fault. Then there is liability car insurance that pays for damages incurred when you are at fault in an accident. This also covers any legal help that you will need if you are being sued. Within liability car insurance, there are also two types of coverage - bodily injury and property damage. Most New Jersey car insurance companies carry the same policies. These insurance policies pay for anyone that is hurt or die as the result of the accident you caused. You may think the cost of car insurance is high when you take out a policy in New Jersey, but it's nothing compared to what an accident would cost you if you didn't have any NJ insurance on your car. Here are a few things for you to think about when buying car insurance in New Jersey.

Lower Car Insurance Price

Have you ever wonder why car insurance costs vary from one car insurance company to the other? This is due to the different type of computation factors that car insurance companies use to derive the car insurance cost. Based on the answers that you replied to the car insurance company, they will add or discount the cost before arriving at a final price for your car insurance. Thus, it is important for you to shop around first before you commit yourself to a particular car insurance company as different companies take a different view of the various high risk factors. We will look at some of the factors that car insurance companies take into considerations.

1.Having a clean driving record. Without a doubt, car insurance cost would increase if you have been convicted of a driving conviction. Thus, it pays to be a safe driver so that unnecessary costs won't be incurred. 2.Adding additional drivers to the policy By adding additional drivers to the policy, extra premiums will be added. Thus, do not add in drivers into the policy just because you think that this person might be using the car in the future. Consider carefully whether it is necessary to add this person into the policy. 3.The age and gender of the driver If the driver is under the age of 25 the rate will mostly likely be fairly high. This is due to the lack of driving experience. Usually, you will need to have over three years driving to be quoted a lower rate. Also, a single male driver rates higher than a single female. This is because males are rated as a higher risk to car insurance companies. 4.Your credit report history. Most car insurance companies take into account of your credit history. Paying your bills on time and maintaining a good credit history will allow you to enjoy lower car insurance cost. 5.Anti-theft alarm Fix up an electronic central locking and alarm on your car. Discount could be given by insurance companies when you have anti-theft devices install in your car.

Need A Car Insurance Comparison?

If you decide not to do a car insurance comparison and simply renew your insurance at the same rate, you could be paying away needless amounts of your hard-earned money. By doing a car insurance comparison, you could get a cheaper rate than what you are presently paying.

A car insurance comparison rate is quite easy to do from home on your computer. This way you don't have to spend time during the day contacting the various insurance companies during their business hours. You can sit down at any time of the night and do the car insurance comparison yourself by requesting free quotes from the various online car insurance companies. Most of the online insurance sites will return a free quote as to the rate they charge for your insurance needs within 24 hours. It is best to request at least three quotes so you can do a car insurance comparison when you get them. If you print them off, then you can sit back with your coffee and do a car insurance comparison of the rates. Take your time and make sure you are actually doing a comparison of the same types of coverage. Another way you can get the car insurance comparison you need without spending too much time on the computer is to contact an online car insurance broker. Using a broker takes all the work out of car insurance comparison. Rates vary from company to company and some of them give discounts for certain things. You may find when doing a car insurance comparison that some companies give a discount if you are over age 50. Others might have a discount if you have a perfect driving record and still others may offer a discount if you work in a certain industry or if you do not drive your car to work. It does pay to shop around for a car insurance comparison rate. The type of car you have will affect the quote you get with a car insurance comparison rate. A sports car will cost you more in insurance, as will city driving as opposed to all rural driving where there is less traffic and therefore less chance of having an accident. There are some companies that will give you a break if you have had accidents in the past. If you have several vehicles, you need to do a car insurance comparison to find a company that will give you a lower rate when you insure all the vehicles under the same policy. Shop around and don't be afraid to ask questions about the company and its system of rates that it charges. Although some people say knowledge can be dangerous, it will save you money when it comes to getting car insurance.

Discount Car Insurance Brokers - Get Amazing Comparisons

To get the cheapest possible quote for your car insurance, your best bet is an online discount car insurance broker. A broker does not deal with one specific car insurance company, but rather searches through every available company to find you the best possible quote. When you contact a discount car insurance broker online, you just supply the information about the make and model of the car, your age and driving record to get the discount quotes you need. When you contact a discount car insurance broker, you can get as many as 20 free online car insurance quotes at the same time. When you submit the necessary information to the broker, he/she sends it out to all the insurance companies he/she deals with. Each of these comes back with a quote as to how much they would charge for your car insurance needs. When you submit the information, make sure you specify the coverage you need to have with the policy. The price you get in a free online car insurance quote depends on the coverage you request. This way you know that each quote you get from the discount car insurance broker is for the same type of policy and that you are comparing the prices of the same thing. Once you receive all the quotes, then you can sit back and compare them. The best thing about going through a discount car insurance broker for car insurance is that you have a chance at getting a cheaper insurance rate from a company in another city that you would probably never contact on your own. Once you decide which one you want to select, the broker will make the necessary arrangements and take care of getting the policy printed for you. You do not have to pay a discount car insurance broker for his/her services yourself over and above the cost of the car insurance. This cost is already included in the free online car insurance quote you receive and the insurance company pays the discount car insurance broker a commission for making the sale. Using this type of service for your car insurance is almost like one-stop shopping. A broker takes all the guesswork out of getting the best possible deal. However don’t assume that once you have your quote from a discount car insurance broker this is all there is to car insurance. Make sure you insure with a good company. For a website all about Car Insurance visit Peter's Website Car Insurance Answers and find out about Auto Insurance Comparisons as well as Auto Insurance Rates and more, including UK Car Insurance, online Car Insurance and Car Insurance Quotes.

What You Need To Know About A Car Insurance Adjuster?

If you’re in need of a car insurance adjuster then there are a few facts you should know before you meet with him/her. The first rule of thumb is that if your car insurance adjuster is over friendly remember, he is there to save money for the company he works with, not especially for you. Don’t ever sign anything without reading every detail and never underestimate the good will of the car insurance adjuster. If the adjuster wants to discuss anything on the phone, request that you would rather meet with him/her in person until after your insurance claim is settled. You can be pleasant with the insurance adjuster but stay firm. No matter what happened at the scene of the accident, it is not the car insurance adjuster’s fault if the person that hit you was an idiot. Don’t underestimate the importance of an adjuster’s impressions because they all go into your file. The way you act toward him/her could have an influence on your insurance claim later. Even if, for example, your car hit a deer, insurance adjusters will even be called for this too, to estimate the amount of damage to the car. Again let the adjuster do his/her job and be friendly. When you hit a deer it can cause the same amount of damage in some cases as hitting a car, or even worse. Let the car insurance adjuster look at the damage and make up his/her own mind regarding the extent of damage. Again don’t sign any thing until your car insurance claim is settled. An independent car insurance adjuster is also expected to settle insurance claims quickly. This person may not owe a particular allegiance to a specific insurance company, but they want to collect the fee from the company. An insurance adjuster’s authority to settle a claim is restricted, but the adjuster will do everything possible to make sure you get treated fairly The bottom line is don’t let a car insurance adjuster suck you into thinking he’s your best friend in the world, only to be let down later. This is the nature of job and no matter how friendly the adjuster is, he/she is there to do a job. You have little to do with that except provide them with information needed to assess the damages to your car. Just be a little careful when dealing with a car insurance adjuster. For a website totally devoted to Car Insurance visit Peter's Website Car Insurance Answers at http://www.car-insurance-answers.com/ and find out about Car Insurance as well as Cheap Car Insurance at http://www.car-insurance-answers.com/cheap-car-insurance.html and more, including Online Car Insurance Quotes, UK Car Insurance, Car Insurance Rates and Car Insurance Quotes.

Want to save on car insurance? Live in Roanoke

Where you live makes a big difference when buying car insurance.

Auto insurance is a lot cheaper in Roanoke than in other cities, according to a survey by Runzheimer International, a vehicle-cost consulting firm.

The Michigan company's figures show a car owner in Detroit would pay $5,000 more per year than an owner in Roanoke.

Other Southern cities that are insurance bargains include Nashville, Tenn.; Chattanooga, Tenn.; and Raleigh, N.C.

Among the Northern cities with high rates are Philadelphia, New York and Newark, N.J., according to Runzheimer, which said it was citing rates as they existed in January.

A key piece of data for insurance rate-setters is the ZIP code.

A ZIP code's claims history and number of registered drivers are part of the rate formula used by insurance company actuaries.

Ken Schrad, spokesman for Virginia's State Corporation Commission, said one reason Detroit's rates are high is that traffic accidents are more frequent in large metropolitan areas. Roanoke's smaller size helps keep both the chance of an accident and the insurance rates down, Schrad said. The commission regulates insurance companies, as well as banks and utility companies.

"Roanoke is not as densely populated as some metro areas," Schrad said. "In Northern Virginia, the insurance rates are higher than Roanoke, and rates in Tidewater may be higher, too."

Virginia drivers may have trouble duplicating the exact rates quoted in Runzheimer's survey, which was based on the rates for a 2005 vehicle with one driver who has a spotless driving record, and drives for his or her job.

A quick online search by The Roanoke Times failed to find any companies quoting the rates Runzheimer cited, but the sharp difference between Roanoke and Detroit was apparent in the Times' survey.

Medical insurance is a huge factor in Detroit rates.

Michigan's required no-fault auto insurance coverage put the cost of medical coverage alone at $2,230 for a six-month policy on a 2004 Toyota sedan with two drivers. Virginia drivers are permitted to decline that coverage and pay nothing in the medical category.

For collision coverage on that same car, Michigan set a rate of $1,400. The Virginia rate was $280 for collision coverage.

Runzheimer quoted Pete Kuhnmuench, director of the Insurance Institute of Michigan, as citing the state's mandate for unlimited medical benefits.

"No other state comes close to mandating that high level of benefits," Kuhnmuench said.

Runzheimer explained its survey this way:

"At $5,894 per year for insurance coverage for a midsize sedan driven within a 50-mile radius of the city, Detroit-area drivers pay almost $5,000 more a year than drivers in Roanoke, who pay only $912.

"These rates are based on both male and female drivers over a minimum age with clean driving records and include comprehensive, collision, bodily injury, property damage, and uninsured motorist coverage," Runzheimer said in a news release.

Schrad said another survey that compared Virginia insurance rates was done by the National Association of Insurance Commissioners. That survey, in 2003, cited Virginia's average car insurance rate as $752, which Schrad said ranked the state at approximately 40, meaning 10 other states had lower rates.

SR22 auto insurance

If the department of motor vehicles in your state has suspending your driving privileges then chances are your insurer has also dropped you. In order to get your license reinstated, you need to do an SR22 filing with the DMV. Your new insurance company will handle getting your SR22 forms in order so you can get back on the road. Common reasons for SR22 filing are usually the following: drunk-driving violations, multiple tickets, unpaid fines or parking violations, multiple accident claims, driving without insurance or poor credit history. In other words, a SR22 Filing is a form issued by an insurance company, which removes a suspension order placed by the DMV on your driving privilege. The catch-22 is finding an agency you can afford that will cover you since your driving and/or financial records aren't solid.

SR22 auto insurance rates will be higher than regular rates, no doubt. But don't get just one quote from a car insurance company. Shop around. You might be surprised to learn that prices vary from company to company. Many places can issue the SR filing the same day of getting receipt of signed application and check so you don't have to wait.

After finding an insurance company and a rate that works for you, you must purchase minimum liability coverage. If you don't have a motor vehicle, you must purchase "non-owners" liability coverage for driving someone else's vehicle. The price will depend on the severity of your driving record (accidents and violations), as well as other 'regular' insurance factors such as where you live, the number of years of driving experience, etc. If you're not sure what's on your driving record, you can purchase it from DMV (usual the cost is $5.00 to $10.00 per record). Under normal circumstances the SR22 filing period must be maintained for three years on average so it's best to stay out of trouble to begin with if you can avoid it.

Here's a few steps to remember when getting your SR22 and filing with the DMV:

1. Know what's on your driving record by getting a copy of it from the DMV.
2. Contact your DMV to double check what other DMV fees are needed to reactivate your license because sometimes a reinstatement fee, and/or payment of outstanding parking/moving violation fines is required.
3. With that information, start your search for the lowest price for insurance, which means getting quotations for the proper coverage you need at various companies.
4. Once you find an insurance company that will A) carry you and B) you can afford, they will send you the paperwork to start your policy. Once they receive it, along with the funds for the policy, they will issue the SR22 filing. With many places if you pay via credit card, money order, or cashier's check, they can issue the filing ASAP, which permits you to go to a local DMV office to reinstate your license the day you receive it.

The best way to avoid SR22 filing is to be a good driver and keep yourself in strong financial shape. Of course, some situations are beyond your control. But for those that are within your power it's best to follow the rules and avoid the headache and financial hardship that SR22 can put on a driver.

Switching car insurance companies

With the advent of the Internet it's never been easier for drivers to get an insurance quote anytime of the day or night. Some insurance companies have taken this a step further by offering telephone service 24 hours a day to compete. That means you can get a quote anytime you like. But before you jump from one company to another there are a few things you should take into consideration.

First, look closely at the policy of your new quote. A company might offer you a cheaper rate than what you're currently getting but are they offering the same coverage. If not, is the difference something you can live with? For example, you might save $300 a year with one company but your deductible might be much higher than what you currently have. Of course you can always play the odds and hope you won't have any problems so that the deductible won't be an issue. But if you don't have the money to cover your deductible it might be best to keep searching. In addition to the deductible, also consider such facts as liability amounts and everything else the policy contains.

Second, timing is everything. This is true for auto insurance. You don't have to wait for your policy to expire before switching but it helps avoid paying cancellation fees and waiting on pro-rated funds you paid to your first provider. Watch for your renewal notice. It usually comes in a month before you have to pay it. Take that information and shop around so you have plenty of time to set up a new policy before you cancel the old one. Whatever you do though, don't let your insurance expire before making sure you've secured insurance elsewhere. Not only is it financially dangerous, but it can also affect getting coverage down the road.

Third, ask around about the company you're considering moving to. You might get a cheaper rate, yes, but do you know people that have used the carrier? Was the company a headache to deal with when they had to file a claim? Just because you haven't heard an insurance company's name does not mean you won't get excellent service. But it's best to ask around just to get some opinions. Horror stories circulate about big brand name insurance companies so it's not the name that really matters in the end. It's the service. So ask around and see what you find out.

The best advice when switching auto insurance companies is to just keep your eyes and ears open. With a little searching and legwork you can find a quote, and company, that's right for you.

Auto Insurance Claims Tips

When an auto accident occurs, one of the first things you reach for is your auto insurance cards. Preparing yourself before hand can make the auto insurance claims process much faster during that critical and stressful time.

Here are a few tips to speed up your repair time and get you back out on the road.

1. Call your insurance agent or your insurance companies claims center as soon as possible, regardless of who is at fault. If you are not injured and can call from the scene, do so.
2. Ask your agent or company representative what documents they need from you and how to proceed with getting your car repaired. Your insurance company will require a "proof of claim" form and, a copy of the police report when the responding officer generated one.
3. Send in the requested information. Many companies will now accept faxed copies in lieu of the originals. This speeds up the claims process, allowing you to get repairs done sooner. Keep good records and be sure to get names and phone numbers of everyone you speak with and copies of any bills related to the accident.
4. Remember, each state has its own laws governing the claims process. If you have any questions, call your agent, company representative or your state insurance department.

It pays to know your policy beforehand. Take the time to read your auto insurance policy carefully. If you don't understand your policy, call your agent and/or state insurance department to get your questions answered.

Auto Insurance Companies

How to choose car insurance company that's right for you?? Not all auto insurance companies are created equally. Many offer benefits that are the same, but most have just a little something that sets them apart from other auto insurance companies in their field. When you are searching for a car insurance company, there are few things to consider. Here are a few suggestions on how to find the right auto insurance company to fit your individual and family needs.

Car Insurance Companies A good place to begin researching auto insurance companies is your state's department of insurance web site. Most of these web sites list what is called a CCR (consumer complaint ratio) for auto insurance companies in your state. This ratio lets you know how many complaints an insurance company received per 1,000 claims. You'll want to keep track of the auto insurance companies that have favorable ratios.

A second way to find a list of good auto insurance companies is to check with A.M. Best. A.M. Best is a rating company that rates insurance companies based on financial stability, claims payments, policy rates, etc. You can visit the A.M. Best web site to gather information on the auto insurance companies you receive quotes from before you fill out the application.

Finally, you can try working with an insurance agent. It is important to note that there are two types of agents. The first type of agent is an independent agent (broker) who represents many insurance companies and the second is a captive agent who represents just one insurance company. Cative agents can not shop around your auto insurance rates unless the primary company they work with allows them to do so. Independent agents will shop around for you, but be sure to ask a lot of questions to be sure you are getting placed with a good company that will be there when you need them.