We review car insurance companies – you save money!

The financial crisis has affected most businesses but one of the most seriously hit was the insurance business. By the nature of their business the insurance companies are intimately tied to the financial markets so when they suffer a downturn it hurts the insurance companies. There has clearly been a major impact on the insurance business but it has turned out not be as bad as many people feared that it would be.

The impact of the financial crisis on the insurance business has been serious but not disastrous. Certainly the insurance companies have been hurt by it but for the most part they have managed to survive. There have been a few companies that have suffered more than others but for the most part the insurance companies took precautions to make sure that they would not be exposed to too much risk, at least the well run companies did. The result is that for the most part the insurance business has acted as something of a stabilizing influence on the financial markets.

[Read more →]

When you are filing for a car insurance claim, this means that you have been thru a bad situation like a car collision or accident. You do not want to make things worse by taking actions which can compromise your insurance claim. Here are some common things that you have to avoid doing or saying:

Do not think that your car just sustained a minor damage

After a road mishap, drivers will check their cars and might hastily decide that the damage is just minor when they only see a few dents or scratches. They fail to consider that there can be a mjor damage to the structure of the vehicle unseen during immediate inspection like a cracked axle. It will be wisest to take note of the other driver’s details like name, phone, address, and insurance information just in case you need to make a claim.

Do not be “sorry”

When you are involved in a car accident, do not immediately admit that you are at fault and say sorry to the other party. If the accident is really your fault, your insurance company will be liable for taking care of the damages. If it is not clear who is at fault, let the police investigate and decide.

Do not just hire a tow truck that is near the vicinity of the accident

The tow trucks that are immediately at the scene of the accident might be listening to police scanners for opportunities on the road. Check if the tow truck is licensed or better yet, call the towing company that you trust or have used before.

Here are some scenarios that you think will not cost you but can actually burn your pocket:

#1 You have to should the bad driving of your friend

If your friend borrows your car and gets involve in an accident, you will have to file a car insurance claim. You need to shoulder the deductibles plus your monthly premium might go up because of the claim. In case your friend does not have the permission to use your car, you will not be held liable for the damages. The other party may also sue you because of injuries and other possible claims. Best move, do not lend your car.

#2 The personal stuff inside your car is not covered by your car insurance

Laptops and other damaged personal effects are not covered by your car insurance policy. You can use your home insurance to cover for the items if the cost is beyond the deductibles. Check with your insurance agent on how you can go about it.

[Read more →]

Every car owner wants to get the best auto insurance coverage in the market today. The first step is to look for free quotes which insurance companies will be more than willing to give to their potential clients.

Free Auto Insurance Quotes

There are three ways you can get free insurance quotes:

• Surf the internet for auto insurance companies and get their free quotes. There are also websites which can compare the best coverage available for your area.

• If you are not comfortable doing business over the web, you can make some phone calls and get some quotes from local car insurance firms.

• You can also visit insurance companies and fill up some forms if you want to do it face to face.

Saving some money

[Read more →]

Whenever you are buying a brand new car, you need to understand that you are going to have your car covered under a new car warranty.  What that is going to cover is actually bump-to-bumper – however, that is only if you have that particular warranty.  What that means is that it covers everything minus the things that wear down, such as brakes and tires.

The powertain warranty is a little different though, as it covers everything that makes the car move, including the engine as well as the transmission.  So it does not cover things like scratches or things that might not be under the hood – so that is a choice that you will have to make.

An extended auto warranty typically can be purchased to prolong the coverage of the bump-to-bumper status.

Now that we have talked a little bit about the auto warranties out there, what is an auto warranty and what exactly does it do for you – how does it work?  That is what we are going to talk about.  Warranties will actually cover all of the repairs up to three years typically – or 36,000.  A lot of the warranties do go by mileage, so that is something that you will wan to make sure that you check out.

If you decide to buy an extended warranty though, it might be beneficial to you simply because that way, you can make sure that your repairs are covered for a longer period of time.  A lot of them are 10 years or 100,000 miles.  If you drive a lot though, that might not even be the best option for you.

In the next blog, we will talk about what the differences are between an extended warranty as well as a new car warranty.