Car Insurance
As most insurance industry professionals will tell you, with budget car insurance you often get what you pay for. With the mandated need for auto insurance and low wages of some drivers, it can be difficult to obtain and maintain car insurance coverage. Several companies currently offer budget auto insurance to help them meet the legal requirement of insuring their vehicle.
In most states that mandate all drivers carry car insurance, there is minimum amount for liability for personal injury and property damage. Many of the budget auto insurance companies offer the bare minimum in coverage at a rock-bottom price, but if the person wants to increase their coverage amounts, the prices is usually similar to the insurance offered by the big-name companies. Additionally, a person who is buying a car that has lien held by the lender, they will also need comprehensive insurance coverage so the lender knows their investment is protected against loss by damage.
Similar factors affect the cost of insurance regardless of the company through which it is written, but most budget car insurance companies can offer the minimum amount of insurance required for the minimum premium payment. Most will also have a low down payment, enabling drivers to start their coverage quickly and then make monthly payments to keep the coverage in force.
Weight Service And Price When Choosing Insurer
Most traditional insurance companies offer a grace period for making payments, some as long as 10 days, during which time the insurance remains in force. Some of the budget auto insurance companies may offer a grace period, but typically, if the driver misses a payment the insurance is cancelled with 24 hours of the due date. For those whose paydays do not match the premium due date, this can be a problem. In most cases, when cancellation occurs the state is notified as well as the lien holder, which can subject the vehicle to repossession or impounding.
How fast the insurance company responds to a claim should also be considered when thinking about obtaining budget car insurance. If your coverage includes the use of a rental vehicles, waiting two or three days to have an adjuster go over the claim can leave the person in a lurch concerning transportation. It is also important to look at how they handle potential liability issues in case of personal injury.
Many budget auto insurance companies will simply pay the limit on your policy without fighting over the charges and if additional money is rewarded, the driver is solely responsible. Some insurance companies will join in the driver’s fight against potentially fraudulent claims made following an accident.
Watch the video related to budget car insurance
Not many car insurance companies want you to know about how you can easily slash 100’s of dollars off your family budget – “do it” segment – Nine Network Australia – 31.05.08 – see more at www.doittv.com.au or Google “do it”.
Help answer the question about budget car insurance
Car Accident – Any tips on Insurance would help?My husband was waiting in a line of traffic while another car turned off the road and was rear ended by a pick-up going about 50mph, he was hit from the rear and then my husband hit the car in front and so on. Here's the problem… We are in our 60s and have a very tight budget. That car – a 2003 Honda SUV was suppose to last us another 10 years. It only had 40,000 miles on it and was in perfect condition. Not a scratch (I always park away from the crowd). So, the insurance co. has said they would give us $15,000 for the tottaled car, but the new SUVs cost over $20,000. Never having an accident before, we thought that our insurance would pay the value of the car and the car at faults insurance company would pay the difference for a new car. Found out that is not the way it works. So, we have been paying the insurance company for car insurance for about 40 years without any claims and now when we need them we find that they will not replace the car. Is this right?
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Posted by American Car Insurance on January 11th, 2009 filed in car insurance | 9 Comments »
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9 Responses to “Car Insurance”
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January 11th, 2009 at 5:54 am
wait, if u sold the car to someone else, it's their responsibility to insure it. in fact, YOU can't insure a car that's registered to someone else. so i'm a little confused…
January 11th, 2009 at 6:05 am
How much it costs is going to vary, based on a bunch of your personal information.
Start with http://www.progressive.com, for insurance. You can get a quote on the internet – you fill out the very personal information, they will email a quote back to you.
It will be easier if you have a US license, but if you don't, as long as your license is written in English, it's not a problem. Otherwise, you'll need an international license.
January 11th, 2009 at 10:35 pm
When you rent a car, you have to have full coverage on the care that you own (your personal vehicle) and then that will automatically carry over to the rental. If you do not have full coverage you can add it to your existing policy for the amount of time you'll be renting the car OR just buy the insurance from the rental place. And to answer your other question, no your policy will not cover somebody else's car just because you're driving it. Insurance covers vehicles, NOT people, even if you were in an at fault accident, your friend/relative's insurance would have to cover that loss.
January 12th, 2009 at 11:22 am
If you have an insurance company that is refusing to allow you to remove an authorized driver from your policy unless you PROVE the authorized driver has insurance elsewhere, it's time to get a new policy in place at another company and then drop your current insurance. That is ridiculous.
If you want to stay with that company for some reason (although I couldn't think of any) you might call your agent and ask why you need to do that, and tell him you will switch if you can't, and see what happens.
January 12th, 2009 at 3:22 pm
You should qualify for liablity insurance instead of full coverage. The actaul amount of insurance depends on what your car is worth right now, how old it is, your past driving record and your "hi risk" lable will definately have an effect. You'll have to get quoted at a few different places to be sure what company has the lowest rate for you.
January 13th, 2009 at 5:01 am
For auto insurance the most efficient way to get a very good rate is do a policy comparison on auto policies. Make sure that you pick similar options with the same limits, auto type, zip code, etc so that all options are a good comparison.
What I most often recommend is an internet comparison quote at http://www.lowratetoday.com since they have top name insurers and will give many quotes on car insurance polices.
January 13th, 2009 at 11:05 am
Every card is different, and the card companies can change their insurance carriers without notice. Most of them give collision damage waiver only. If you have an accident, they will cover repairs over and above the rental company insurance, but they do not cover the cost of a replacement rental for you to drive. Very few of them cover liability. The most complete coverage may be offered by your insurance company, for a lower fee than the waivers offered by the rental companies. In Manitoba, for instance, we sell (to Manitobans) a rental car policy that gives $50 deductible for damage, loss of use coverage, and 5 million dollars liability coverage, and this package can be bought to cover a rented car anywhere in Canada or the US. So, before you rely on your credit card, read the wordings booklet, then talk to you auto insurance agent.
January 14th, 2009 at 1:30 pm
If you park your car on your parent's property, and never drive it anywhere, you might not need to have any insurance.
But if you are going to take that car out on the public highways, you need all sorts of different types of insurance to pay for medical expenses if anyone hurt in an accident, pay for repairs if any damage from accident, get another car if it is stolen, protect your assets (house, car bank accounts) from beign drained by law suits, and also keep you out of jail.
While you are living under your parent's roof, they can add you to their insurance policy … this will be expensive, but not as expensive as a policy in your own name.
Once you go to college, and live wherever the college is, no longer under your parent's roof, then you do need to have policy in your own name.
January 14th, 2009 at 2:59 pm
Was a citation issued at the time of the accident? If not, it won't show up in the MVD. The insurance industry also has something similar to a credit report, called the CLUE report that lists past property and casualty claims made by you. That is used as well in determining your insurability.