EOF 2005 » Insurance http://eof2005.org End Of Finance Crisis Thu, 29 Jul 2010 03:35:58 +0000 en hourly 1 http://wordpress.org/?v=3.0 Basic Tips to get Cheap Car Insurance http://eof2005.org/2009/09/basic-tips-to-get-cheap-car-insurance/ http://eof2005.org/2009/09/basic-tips-to-get-cheap-car-insurance/#comments Tue, 29 Sep 2009 12:37:10 +0000 ndre http://eof2005.org/?p=465 car insurance_resize

When we buy a brand new car, we should not only think about the car price, but also the cost after purchasing like maintenance and car insurance. Car maintenance will not be a problem for us because it will not spend lots of money for every month, but unfortunately it does not go the same way with car insurance. Car insurance requires high payment every month. Because of that, before we purchase car insurance, we must think about it carefully and become the selective customers. There are some tips that hopefully can be very beneficial to get a cheap car insurance rate.

One thing we must do before purchasing the car insurance is choosing car insurance with the lowest rate policy. But wait! Do not be careless on choosing the cheap car insurance rate. Most companies give fewer facilities for the cheap car premium, but actually if we want to make car insurance comparisons, we will be able to find cheap car premium with good facilities. Therefore, do not be tempted with the low rate premium; spend more time so we can get the best one with cheap price. If we want a cheap premium, besides rate comparison of insurance, we can also get cheaper price by repairing our credit report before purchasing car insurance. With the good credit report, we will be assumed as discipline customers and they will give lower car insurance interest rate.

One effective way to get a discount for our car insurance rate is decreasing our car mileage. We can do this by driving our car only when we need it. The lower mileage will give us lower interest rate. If we have more than one car, then we can also ask for a discount. Now that we have some tips on how to get cheap car insurance, we can start to make a car insurance comparison by finding agents offer insurance comparing online or go to Onlineautoinsurance.com.

]]> http://eof2005.org/2009/09/basic-tips-to-get-cheap-car-insurance/feed/ 0 Life for drivers in Massachusetts stays fair http://eof2005.org/2009/09/life-for-drivers-in-massachusetts-stays-fair/ http://eof2005.org/2009/09/life-for-drivers-in-massachusetts-stays-fair/#comments Sat, 19 Sep 2009 07:01:54 +0000 ndre http://eof2005.org/2009/09/life-for-drivers-in-massachusetts-stays-fair/ When you live in a capitalist country, it’s easy to think that free market competition keeps the consumer safe. If anything goes wrong, the consumer can simply change to another supplier and, at a stroke, the problem is solved. Except life does not have to work in a fair way. When large insurance corporations are looking to make a profit to keep their shareholders happy, they do not think of their customers as people with problems. The policy holders are just the means to make a profit. So, government has to step in with regulations to strike a balance. The idea is to limit the companies to a reasonable profit and reduce the risk that consumers will be gouged. Although the GOP is against the idea of any regulation, every state in the union has a licensing system for insurance companies. Only companies with a licence can sell policies in each state, and the condition of getting and keeping a licence is accepting some degree of regulation. How much regulation varies from state to state, but the essence is to offer some protection for the consumers.

auto-insurance_resizeIn Massachusetts, there has been a rumbling dispute about the extent to which the local insurers should be regulated. Until last year, the state imposed quite strict rules on the type of policies that could be sold and the premium rates. The current system is one of managed competition with the companies having more freedom on the new products and the premium rates at which they can be sold. The problem focussed on the Board of Appeals run by the Insurance Commissioner Nonnie Burnes. If a driver is involved in a collision, the insurer is allowed to decide which driver is at fault and to add a surcharge to the premium payable by the driver in the wrong. This surcharge can be up to 50% of the original premium. Obviously, an insurance company has a direct interest in holding its driver to be at fault so the premium can be increased. Hence the need for an appeal system. The current Board finds that the surcharge is not justified in more than half the cases referred to it.

The people of Massachusetts were therefore shocked when the Commissioner announced the Board would be shut down. This would leave surcharged drivers with nowhere to go. Strangely, when consumers shop round for a change, the other companies tend to rely on the current company’s finding of fault, rate the driver as more of a risk and only offer auto insurance at higher rates. What should be fair competition between the companies producing lower premiums is the sharing of information about drivers resulting in higher premiums. The state legislature was therefore quickly into action to propose legislation ordering the Commissioner to retain the Board. After a stand-off with the bill moving through the legislature, the Commissioner gave in and announced the Board will be retained. Lacking confidence, the legislators are continuing with the passage of the bill. The interests of the consumer must come first when it comes to auto insurance.

]]> http://eof2005.org/2009/09/life-for-drivers-in-massachusetts-stays-fair/feed/ 0 Auto Insurance http://eof2005.org/2009/07/auto-insurance/ http://eof2005.org/2009/07/auto-insurance/#comments Mon, 13 Jul 2009 01:25:16 +0000 ndre http://eof2005.org/?p=312 Do you need to insure a younger driver, under 25 years old? If you have insurance shopped, you have probably found that covering that young person is one of the most expensive things about having them drive a car. Insurers consider teens and young adults as a very high risk group, and so they will charge more for that insurance. In fact, many parents have found that coverage costs more for their kids, then it does for them.

Tips to Insure A Younger Driver

1. Major auto nssurance companies love having all of a family’s insurance business. If your family has more than one car, more than one driver, or even a home to insure, you may do well to combine all of your coverage with the same company.

Do not always asume that your old company will give you the best deal though. It is always in your best interest to shop around for the insurer who really wants to compete for your family’s business.

2. Top companies also like defensive driving classes. Sometimes you can find driver’s education classes at a school, but these days you may have to pay for a private class. Be prepared to pay a few hundred dollars for classes and road training. However that cost should be offset by the money you will save on your policy. In addition, if the class helps a young driver operate their vehicle safely, than the costs are really minimal.

3. Good students, with a B average or above, may also qualify for additional discounts. Insurer statistics have shown that reponsible students just tend to be better drivers too.

4. Consider the type of car a younger driver will operate. Some cars are just cheaper to insure, and most companies offer discounts for anti-theft devices or auto safety features. In addition, you may be able to name your younger driver on the car in your family, if there is a choice, that is less expensive to cover. You may be able to get help from a qualified car insurance agent or company representative.

5. Do not choose a modified or specialty car for a younger driver. Statistics show insurers that a modified car will just run a higher risk of claims when driven by a younger operator. A sedate family sedan will probably be a more prudent choice than a sporty, high horsepower car. Save that for when the driver is older and more mature.

6. Shop around online. The task of calling dozens of local insurers with all of your specific details may take hours or days. But an online form allows you to key in your details one time. Then you can simply hit the submit button and relax because the most competitive insurers will send you their offers for affordable policies and premiums.

If actually teaching a son or daughter to drive is one of the toughest things you have to do, then finding a good and affordable auto policy may be the secondd hardest. However, you can certainly take some simple steps to find lower prices. Good luck, and drive safely.

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