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5 Tips For Lowering Your Auto Insurance Rates in 2016

Shopping for auto insurance can be a tricky endeavor at best. You never know how good a policy is and how good your insurance company is until you really need them. Putting them to the test as it were. When we have an accident is when we put our insurance companies to the test. Hopefully we do not have accidents too often, if at all. Are you sure you have the right auto insurance? A policy that fits not only your life style, but also you budget and expectations should disaster strike? Here is some advice on finding the best possible car insurance policy.


The first place you should look to is your network of family and friends.
Specifically you should ask friends or family members who have had an accident or otherwise have had to make a claim on their auto insurance. If you are lucky enough to know one or more people who have had the unfortunate experience of having to have made a claim, ask them how their insurance company handled the claim, did they pay out in a timely manner? Did they cover enough of the damage? Was their delays or unexpected unpleasant things?

Next if you have found a policy you are considering, have you looked online for any complaints about that insurance company? The National Association of Insurance Commissioners and the Center for Insurance Policy and Research are good places to search for complaints about auto insurance companies. You can also search on social media sites like Twitter and Facebook for complaints on your insurance company. Remember as well that Google is your friend here, always search Google with the keywords of your insurance company + the words complaint, scam and fraud, you may be surprised at what you find. Take these complaints with a grain of salt however, every company in the world has had a few bad experiences, take into account the sheer amount of complaints. If there are very few complaints, chances are the policies offered are good.

You can also turn to State buyer’s guides for advice. Nearly every state releases guides either in print or online, which go through the in’s and out’s of various insurance companies policies. They detail the purchasing information that you need to know, including property damage, collision and coverage issues. You should also learn what the minimum coverage is in your state, then decide if you want to risk being liable for the remainder or not. If you do not wish to be liable for anything above the minimum, you may want to consider a policy that goes above and beyond your state minimum. For most people, I recommended at least $100,000 in coverage, as most lawsuits seek this amount at minimum.

When you are comparing rates, do not really on just online rates that are quoted to you. certain car features can save you a ton on policies, such as alarm systems or anti-lock breaks. I know in this digital age that calling on the phone sounds stone age, but nothing beats talking to a live human being versus relying on information imparted over the internet. You will also want to consider what ad on policies your insurance company offers, as with insurance it is not always just about finding the lowest price, but also finding the right level of coverage to suit your needs and life style.

Protecting Your Possession Means Having Insurance Coverage Even When You Rent

If you rent a home, condo, or any other type of living structure, chances are that you want to keep your possessions insured. Most renters don’t think about purchasing renters insurance until it is too late, but do you really need to have it?

The answer to this can go both ways.
If you choose to protect the contents and possessions within your rented property, then it would only be in your best interest to purchase some type of renters insurance. From a legal standpoint, there is no law that legally requires you to purchase an insurance policy for your rented property. The only way that you would be required to purchase a policy is if you signed a contractual agreement between you and the landlord stating that you must have insurance.

Good video from AMone insurance.

Many renters just assume that the owner of the property already has insurance that covers potential disasters. This is true for many instances, as in most cases the property owner does maintain an insurance policy. But, this policy only protects the property and not your belongings. To most property owners, your personal belongings are your responsibility.

So what exactly is renters insurance and why is it a good idea to purchase? This type of insurance will help protect your items in the event that a loss occurs. A loss is any type of incident that damages your belongings, or it can also include theft. If you do decide to purchase a policy, your items will only be covered up to a certain dollar amount. An example of this would be purchasing a $15,000 insurance policy. In the event of a qualifying loss, your insurance company will pay you up to $15,000 if the claim is valid. Also, this cost can cover temporary living if a disaster occurs that causes your rented property to become unlivable (fire, water, mold). This means that you will be able to stay at a hotel and purchase food without worrying about the monetary aspect.

Every insurance company is different, every state is different, and every loss is different, but here are some incidents that renter’s insurance will more than likely cover: Fire or smoke damage, accidental injuries to guests, lightening damage, windstorms, vandalism, hail, theft, vehicle damage, explosions, aircraft damage, damage from heavy snowpack, volcanic eruptions, and rioting or civil commotions. It would be smart to go over your policy with your insurance company to make sure that you know what exactly you are covered for.

Most insurance policies also come with a deductible. This is the amount that you, the renter, must pay out of pocket upon filing a claim. Say you have a deductible of $500 and experience a $2,000 loss, your insurance company will then give you $1,500. You will be responsible for footing the other $500. Most insurance companies will let you adjust the deductible.

You will want to read your policy carefully, because there are certain losses that insurance will not cover but many people just assume is covered. Here are some examples of some losses that will not be covered under renters insurance: Terrorist attacks, water damage (burst pipes, flooding, heavy rains, etc), and earthquake damage.
It isn’t a bad idea to also consider buying additional coverage to round out your current plan. Nobody can predict the future, and the unthinkable can happen at any time! If your property you’re renting is in a flood zone, you may be required to purchase flood insurance depending on the law’s in your state and the rental agreement with your landlord.

The price that you will pay for an insurance policy is based on statistics. This is what is taken into consideration: the safety devices that are installed (fire extinguishers, smoke alarms, locks), the size and the age of the rented property, if you have any pets, the location of the property, your deductible, your credit score, the proximity to emergency services, risks that are present (swimming pools, trampolines) and your claim history or the claim history of your neighbors.

Buying renter’s insurance is always in the best interest of the renter. Nobody wants to walk into their residence only to discover that it was inundated with water and that you won’t be covered for anything. With renters insurance, you can be sure that all of your possessions will be taken care of, and it will also provide you with peace of mind.

Tips For Saving On Premiums If You Have Had A Suspended Drivers License

If you have had a suspended drivers license, you will be considered “high risk” by the major auto insurance carriers. This does not mean however that you cannot get auto insurance. What it does translate into however is higher premiums on any auto insurance you will find in most cases. High risk drivers fall into the category of non-standard” insurance. If you are considered to be in the high risk driver pool and you have had your driver’s license suspended, a court and or your local DMV may require you to carry what’s known as an SR-22 in order to have your driving privileges reinstated fully. If you live in New York or North Carolina, the SR-22 is not even an option, as these two states do not carry this bond. An SR-22 is not an insurance policy. Rather, it is an addendum to an insurance policy that is required of some drivers by law. This document proves that you are financially responsible and meet your state’s minimum liability insurance limits, and this document must be carried in your automobile any time you are out driving. An SR22 bond is meant to protect those people who might encounter trouble from a problem driver. This status can last for at least 3 years and may run as long as 7 years. During this period of time you must maintain a high risk auto insurance policy, else you may end up having your drivers license suspended yet again.
car insurance for high risk drivers
While you may be stuck in the high risk pool for now, that does not mean that you cannot get discounted auto insurance, but in many cases the premiums can double over what you were paying. Your coverage will also be much less while in the high risk pool. Plenty of smaller insurance companies are willing to work with high risk drivers and offer you lesser rates than the major carriers, however this coverage will not be full coverage in most cases it will meet just your states minimum coverage allowed by law, without any of the perks traditional insurance carries for those with good driving records. You can get further discounts by maintaining an accident-free driving record, taking defensive driving classes, or by insuring multiple vehicles. Defensive driving courses is the best path to getting the highest reductions on your premium. These one time courses are a quick five hours course that can get you as much as 20% off of your insurance rates and drastically lower your high premiums. If you want to save even more money while in the high risk pool, avoid driving expensive sports cars and SUVs, consider buying an inexpensive yet reliable car to get an even lower rate. If you ensure your home through the same carrier this can also net you a discount by bundling up insurance plans. You also need to stay clear of any more violations, tickets and accidents.

Keep in mind that each state operates differently in regard to insurance and suspended drivers licenses, and you should learn the laws of your state. Having your license suspended for say DWI or DUI is way worse than say suspended for unpaid tickets. The reason for your suspended license will greatly impact you when it comes to insurance. In short it varies state by state, but after a suspended license yes you can get insurance. You will simply need to pay more for your premium, but as pointed out there are ways to lower this cost.

FAQ On Getting The Right Coverage For Your Motorcycle

If you are new to driving a motorcycle and need to learn the in’s and outs of motorcycle insurance, look no further. Being well versed on motorcycle insurance will help you better understand the insurance matters that impact you the most.

Nearly every state at a minimum will require you to have a policy with motorcycle liability insurance. This will pay for any property damage or bodily injuries for any accident in which you are found to be at fault for or the cause of. The states that do require this will have a set value limit that you need to meet, although most state mandated limited tend to be on the low side, and if you opt for only the minimum you could find yourself paying severely out of pocket should you be the cause of a serious accident, so you should consider purchasing a higher limit policy, especially if you are new to riding a motorcycle.

There are additional types of coverage above and beyond liability insurance, and these include:

Accessory coverage – In the biker world, accessories are very common on bikes, however add-ons are not covered by standard insurance, this type of protection will cover all of you customized parts and add-ons to your motorcycle.

Collision – If your bike is damaged in an accident, this will help pay for the needed repairs to get you back on the road again.

Comprehensive – Covers such things as vandalism to your bike, and other damages which are not the direct result of an accident.

Medical payments – If you are ever injured in an accident, this coverage will help pay for the considerable hospital bills that will result from the injury.

Motorcycle roadside assistance – Should you have the misfortune of breaking down or in an accident that has damaged your bike, this will cover towing and labor expenses.

Personal injury protection (PIP) – Much like medical payment coverage, this coverage tends to be required in “No fault” states. This coverage will also provide payments if you get into an accident that injures you. Some states exclude the requirement for motorcycles to carry this type of insurance, so its best to look up your state insurance laws.

Property damage liability – Covers any damage you and your bike may do to someones property, up to the limit on the policy.

Uninsured motorist – Should someone who is uninsured injure you or cause damage to you, this insurance will help cover the bills and expenses incurred. You would be surprised at the amount of uninsured drivers on the road, so this protection is quite valuable to have. Uninsured drivers tend to be higher risk drivers and cause more accidents than insured drivers.

Not all states offer all of these types of coverage, in fact some states actually prohibit some of these types of coverage for bizarre reasons. Also not every company will offer all of these policy Add-ons so it is best to shop around. The big three coverages to get are comprehensive physical damage insurance, collision insurance and bodily injury liability insurance.

Just like cars, motorcycle insurance can receive discounts for various things. Anti Theft devices for example will reduce your premium. The size of your engine is also a factor, the lower the CC the cheaper the premium will be. If you bundle home and auto insurance together you will also see a discount. The length of time you have been riding a motorcycle also plays a role in how much your premium will be, and the length of time you have driven a car does not apply.

How To Shop For The Right Homeowners Insurance Policy For Full Coverage

Homeowners insurance is one the most important types of insurance available, covering you in case of any house damage. When shopping for the right homeowners insurance, there are many different criteria and options you need to consider. Wondering what those are? check out this guide to make your home insurance policy shopping a little easier:

1.What will it cover:
Many people tend to think that home insurance providers all cover the same basics, but they do not. Many home insurance companies simply cover damage of the exterior parts of your home, while others may cover everything from your jewelry in the house as well. Decide what you want and are willing to risk, and see what each insurance policy promises to cover so you know what to expect.

2.How do claims work:
Most home insurance companies require you to pay an excess fee when you pay for your claim. You will typically be liable to the first 50 to 250 dollars you have to pay. Find an insurance policy that is flexible with this and allows clear, easy payment options. This is the step were insurance companies can make much more than they have you believing.

3.Repair and replace:
Home owners insurance companies range in what type of services and ideas they offer. After damage, some suggest repairing items and trying to restore any damage while others simply will provide you with replacement. Because both have their advantages, pick one that will be best for you. Before picking one that replaces items, read the policy closely.

4.Housing costs:
One important quality to keep in mind is what the company offers in case of major damage to the home such as a fire or a powerful wind storm. Some will provide you housing during the time of the rebuild or new purchase while other will not. This may be an important item to consider when shopping for the right homeowners insurance, especially if you have children.

5.Discounts and price:
When weighing all of the other options and deciding what you need in your insurance, keep in mind the cost and any discounts you may get. Many times, a company will offer you discounts if you’re a non smoker, a “mature” homeowner, and for other things such as AAA. Do not settle for an insurance company that is cheap, rather find o0ne that fits to your personal desires and check out their discounts. When shopping ,always consider all of your options no matter the cost.

What State Has The Highest Home Insurance Rates

Facts and figures regarding costs and pricing of home ownership in the United States can be difficult to negotiate. It is best to look at the cost of things like home insurance rates through the lens which best suits your goals. Some people look for favorable comparisons, some look for concrete dollar amounts. Others look for averages and trends over time.

Just because a home insurance rate is high, does not necessarily mean it is bad. The rate can reflect the regional cost of a home combined with median household incomes. Some huge homes in rural areas have miniscule insurance rates because of the region’s cost of living, risk and replacement values. It is always best to weigh the motivation behind owning a home when shopping for state-specific. This will allow the clearest view of which rates are relatively good or bad.

Here are a few comparisons of state insurance rates. To determine the states with the worst and best home insurance rates, it is necessary to measure them against many deciding factors.

The state with the highest average yearly home insurance price is Florida at $1,534. The lowest state average is Idaho at $422. After seeing these figures, the question is “Why not move to Idaho?” Here is where the relativity begins.

floridaicon

The median home price in Florida has soared over 14% in the last year to $162,900. The median price of an Idaho home has only increase 2% in the last year, but has a value of $170,200. Why the discrepancy? Florida has nearly 20 times the population of Idaho. It’s real estate turn-over only averages 90 days. Idaho’s sale rate is nearly 1.5 years.

Another factor is income. The median household income in Florida is $45,100
. Idaho’s is $45,960. This means Florida’s home insurance average is about 3.2% of household income, and Idaho’s comparison is about .9%. It means that if pure home insurance pricing is the only factor, Idaho is the place to be.

Remember Florida’s pricing growth rate? The comparison is 1-14. The overall costs in Florida might be higher by a factor of 4, but the potential for a return on a home investment in Florida far eclipses homes in Idaho. Florida has the highest home insurance rates in the country. The advantage is paying for insurance on a home that will inevitably make a much more lucrative investment than one in a state like Idaho. The price and comparison numbers of income, insurance, and home value are even more obvious in states that do not register on the extremes of these particular scales.

The most expensive state home insurance rates can become less of a burden if that state offers greater opportunity for income. Furthermore, what good is low insurance if the owner is stuck without selling potential and a poor income prospect? Weigh the factors and don’t always determine high and low exclusively on a dollar amount.

Sources:

http://realestate.aol.com/blog/2010/09/22/home-insurance-lowest-and-highest-rates/
http://www.zillow.com/fl/home-values/
http://www.deptofnumbers.com/income/florida/
http://insuranceratesquote.net/home-insurance/