auto insurance coverage

derrick mason What’s the difference between PIP and medical payments coverage?

Auto insurance coverages are important to understand

Response : A very good question. Once you understand this you would know what auto insurance coverage you need and why you need. This is important since health expense is an expense you can never put off , you need to be in good health and restort your health to survive. You can put off the repair of the car but can you put off the body issues?

 Basic liability insurance covers the injuries you cause to others in car accidents. But what about your injuries? You’ll need to buy extra coverage to cover those. There are two main kinds of coverage that offer payments for a driver’s medical bills after an auto accident: medical payments coverage and personal injury protection (PIP). Here’s how these two types of coverage work.

Medical payments coverage is an optional type of insurance that pays for necessary medical bills for you and your passengers after an accident, according to the National Association of Insurance Commissioners. It will cover you even if you’re the one who caused the accident. The amount of the payout depends on how much coverage you buy; generally, only treatment received within three years of the accident is eligible, according to Progressive. In addition to paying medical bills, medical payments coverage will pay for funeral expenses if you or your passengers die.

Medical payments coverage can end up overlapping with a person’s general health insurance coverage. But for those without comprehensive employer health insurance, medical payments coverage can be a safeguard against the expensive injuries that result from auto accidents.

Personal injury protection (PIP)

PIP pays for medical bills, funeral costs and lost wages after an accident. In states with no-fault insurance systems, it is a required type of coverage. No-fault states require that accident victims collect from their own insurance companies instead of suing the at-fault driver’s insurance company. PIP, which pays out no matter who is at fault, allows them to do that.

Some states that don’t have no-fault systems still require PIP. Texas, for example, requires drivers to buy it unless they sign a waiver specifically rejecting it, according to the Texas Department of Insurance.

Similar but different

If you live in a state that offers both medical payments coverage and PIP (and where both are optional), it’s important to know the differences.

For one thing, PIP covers lost wages, while medical payments coverage does not, according to the NAIC. In other words, PIP will help make up for the wages you missed while recovering and unable to work. Medical payments coverage, meanwhile, pays only for your medical bills.

Another key difference has to do with something called “subrogation.” If you have PIP and you get a settlement from the other driver’s insurance company, you can keep all of the money, according to the website of Robert C. Slim, a personal injury attorney in Dallas. For example, say you get $2,000 from your PIP coverage to pay your medical bills and then sue the other driver’s insurer and get a settlement $5,000. That settlement is yours to keep.

In some states, though, things can get more complicated when it comes to medical payments coverage, as it is subject to subrogation (a legal term for reimbursement). For example, say your insurer pays your medical payments claim and you then get a settlement from the other driver’s insurer. Depending on your state, your insurer might be entitled to part of that settlement as reimbursement for the medical payments claim.

Get your car insurance quote, once you know what coverages you require.

Auto insurance news for Ontario- Beat the rate hike by comparing auto insurance

FSCO has approved an auto insurance rate hike of 1.93% in Ontario, its time to compare auto insurance or review car insurance.

FSCO has approved an auto insurance rate hike of 1.93% for the Q4 of 2010, and you can expect the auto insurance rates to hike for 2011.
The companies who have been approved a rate changes are
• TD General Insurance Company
• Farm Mutual Reinsurance Plan Inc.
• Security National Insurance Company
• State Farm Mutual Automobile Insurance Company
• Intact Insurance Company
• Personal Insurance Company (no change); and
• Allstate Insurance Company of Canada
• York Fire & Casualty Insurance Company
• Pafco Insurance Company
• RBC General Insurance Company
• RBC Insurance Company of Canada
• Allstate Insurance Company of Canada
Auto insurance rates have to be approved by FSCO Ontario are only approved only based on the claims and premium data submitted by the respective auto insurance companies. Only if this is justified would FSCO approve the rate changes.

Why should you compare auto insurance for savings?

You need to compare auto insurance if you really want to make savings. The rate increase or decrease given to the auto insurance companies is relative since it would all depend on what their basic rate was.
Please note that as a client the rate hike % would not mean much too you since rates are based on a number of factors like the age, geographical location, driving experience, car and other factors. The most smart thing you need to do to decide which auto insurance company is offering you the best rates is Compare auto insurance quotes, yes compare auto insurance and get the best auto insurance quote for yourself. You can save and stop paying higher premiums- it takes only a few minutes.

Summary : Auto insurance rates are on the rise in 2011 though the auto insurance coverages are lower w.e.f. September 2010. Stay tunned for the information on changes. The smart option for clients is to compare auto insurance quotes online to compare and get low auto insurance rates. First compare auto insurance, review car insurance coverage and than consult an agent or talk to the insurance company, before you buy auto insurance. If you understand auto insurance, buy it online.

Thanks.
Kamlesh

Compare auto insurance quotes, review car insurance

Response : Jeff an excellent question.

When you compare auto insurance quotes or review car insurance rates or review auto insurance coverages in order to get low auto insurance rates or the best car insurance coverages you need to make sure to avoid certain mistakes since this would defeat the very purpose of your wanting to compare auto insurance quotes.

* Do not restrict yourself to getting one quote only thinking that your credit rating would be affected. Remember that getting insurance quotes is a soft hit and this will not affect your credit rating at all.

* Getting low auto insurance rate would not mean that you have the optimum car insurance quote. You will need to compare the coverages of each company also. Examine the fine prints and not just the dollar amount.

* Never loose sight of your main goal and objective of getting car insurance or comparing auto insurance is not only to pay less but ultimatley pass on the risk to the insurance company, so that in case of a loss you are indeminfied- paid your claim. This would mean that you have the coverage for the car – comprehenisve coverage and also the liability coverage.

* You must know of the customer service of the insurance company and instead of leaving it to chance all you need to do is ick up the phone and call the insurance company. You will get the first-hand expereince of their customer service.

* Compare auto insurance quotes, review car insurance coverage which are similar when getting quotes from different companies if you do not get multiple quotes. Only if you have the same limits and coverage would you be able to compare auto insurance quotes of different companies. Yes, I mean compare apples for apples.

More again… thanks again for such a great question.

Kamlesh.

Great tips to compare auto insurance or review car insurance :

Response : An excellent question since this is a line often repeated by all compare auto insurance quotes, or auto insurance comparison is very necessary and also one must review auto insurance, why and how?

The first thing is you should be very sure of your objective of auto insurance comparion of review auto insurance coverages. What do you eant to achieve by this just low auto insurnace rates, or getting insurance from the best insurance company or having the optimum coverage.

Secondly, you must remember that you should never sacrifice your car insurance coverage at the cost of getting low auto insurance rates. You need to have the optimum car insurance coverage so that you will not have any issues on the road. This is the main objective of getting car insurance is to be indeminifed from the insurance company and to pass on the risk. If you do not get money at the time of an auto accident or for your auto claim than what is the point of paying auto insurance premiums? Have the optimum coverage so that once you pay the auto insurance deductible you do not have to spend anything.

Third it is best to have a good insurance company, whose services are good since again at the time of an auto insurance claim you want to pass on all the claims services to them and they should guide you ver well as to what you need to do.

Fourth you need to compare auto insurnace discounts so that you get the maximum discounts so that you would be able to get the maximum possible discounts so that you get low auto insurance rate which is one of your objective.

Last but not least before you actually buy your auto insurance you need to review car insurance policy – this is one advantage for online insurance that you can review the policy wordings or the key conditons online. If this is not available than call the general insurance company whose quote you chosse so that you will not excatly what you are covered for.

Hope this is helpful. Let me know if you need any further information on how to compare auto insurance quotes or to review car insurance coverage.

Happy Easter.

Thanks.
Kamlesh.

Low auto insurance rates :

Response :The car insurance industry is a massive industry. It is also a highly competitive one, and car insurance rates vary over time as car insurance companies compete for business. It is entirely possible to lower the cost of your auto insurance rates by altering your behaviour, and you can do this by having a better understanding of how the rates are assessed.Car insurance rates are often highly fluid. This is the reason why you need to compare car insurance quotes and review auto insurance coverages.

Car insurance rates are based on an assessment of risk. Whilst insurance companies vary their rates to compete with other insurance companies, they also vary their rates based on their assessment of the risk posed by a particular driver driving a particular car. They do this because there is no point in buying business with low car insurance rates and then insuring high risk drivers at these rates. This is a recipe for losing money.

So, if you lower your risk, you lower your car insurance. How do you lower your risk? Well there’s a number of ways that your own driving and car behaviour can affect your car insurance rates and you can get low car insurance rates.

Have a look at the car you drive. Is it suitable for your current needs? If not then would it be worthwhile to consider a change? Different cars attract different auto insurance rates. Sports cars, high powered cars and cars at greater risk of theft attract higher rates.

How long have you had your car and would it be wise to think about another one that would be cheaper to insure and more useful to you?

Are you a safe driver? Do you stick to the speed limit? Are you at risk of other driving offences? Many people do not think about some of the consequences of speeding tickets and driving offences until after they have seen their subsequent car insurance bill.

Your risk profile is a direct result of your driving record. A clean driving record and you will be rewarded by cheaper rates. A poor driving record and you will be penalised, usually for quite a while.

Are you willing to attend driver training courses? Many car insurance companies offer specific discounts for drivers who have attended a course. Why? Lower risk.

Are you willing to drive less? Could you car pool or use public transport to get to work? Car insurance companies look at the amount of driving their clients do when assessing their car insurance rates. Why? Lower risk. Less miles driven equals less risk. And you’ll save on other car costs too.

So if auto insurance costs are an issue for you and your family there are things you can do. These are just a few of those things, there are many more. Car insurance rates are not set in stone.

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Response: A good question since you need to know how to and what to look for when you are compare auto insurance quotes and review car insurance quote. You need to know the following things about Auto insurance :

1) Know what each of your auto insurance coverages are and than choice the ones which you would require. Let me give you a tip that the most expensive coverage is the collision coverage since this is one which the vehicle is most prone too. Optional coverages such as gap coverage, roadside assistance, rental reimbursement, uninsured/underinsured motorist coverage, and comprehensive coverage can provide a lot of protection for a little price increase. Comprehensive coverage is usually the most expensive of these coverages, but is still usually about half the price of collision coverage and a third the price of liability coverage.
2)If policy is allowed to lapse you will have to pay more: Insurance companies prefer to have a history on a policy so that they can know how to rate the policy. Once the policy has lapsed than the insurance company will charge you a very high premium since they have no history on the insurance.
3) Opt for a higher deductible : The higher the deductible, the more the discount you will get on the auto insurance rate and you save on auto insurance premium.
4)Review the auto insurance discounts that are available and see if you can opt for any of them.
5) Shop around on the internet for auto insurance quotes. This will let you know about the discounts offered by the other insurance companies, know about the insurance companies and what is more important is that you can see all the quotes at one time. This will help in comparing auto insurance quotes and coverages on the same page and at the same time. You can arrive at a decision on buying auto insurance quote.
Thanks.

Response : First let me expalin the use of both limits in terms of insurance to you. If you have two polices of each $1million for uninsured motorist coverage, than if you meet with an accident obviously with one vehicle than when you want to utilize both the limits it is called stacking of polices. Insurance companies normally have an anti-stacking provision in their polices which would not allow the using of both limits of the policies.

In Texas in a particular case when a person was injured due to an uninsured motorist, he was allowed to use both the limits of his policy for the same. Thus as per the gist of the judgment given below :
“The Texas statute does not speak specifically to the stacking issue, but, as evidenced in the caselaw, the courts have expressed a clear understanding that the purpose of the statute is that insureds recover for their actual damages and that a policy provision preventing full recovery conflicts with that public policy and is thus invalid. Therefore, it appears that in Texas, the “two or more auto policies” provision, when coupled with the intent and purpose of the uninsured motorist statute, will not operate to prevent stacking where the insured has two policies with an insurer and their actual damages are greater than the maximum recovery under one policy’s uninsured/underinsured motorist coverage.

The stacking and anti-stacking of the policies would depend from state to state and the provisions and whether there has been a case decided in the same lines in the state.

Presently in the states due to recession, many people are driving auto’s uninsured and so it is very important that you have this coverage. Compare auto insurance coverages at all times and reviewyour auto insurance policy to ensure that you are fully provided for and insured under most circumstances. It is wiser to pay some price now for the future when you are in a tight situation.

Response : Mark, I am sorry that you are facing this problem. You need to have some knowledge about the auto insurance coverage in order to compare auto insurance quotes. You need to compare apples for apples. Let me explain that an auto insurance coverages. There are six main coverages under an auto insurance poolicy which you can opt for like Bodily injury, PIP personal Injury protetion or medical payments, property damage, collision, comprehensive damage and Under insured motorist. If you did not have comprehensive coverage than your auto insurance policy will not cover the collision with a deer. Please note the difference between comprehensive and collision coverage.

Collision is when your car resulting from a collides with another car, object or as a result of flipping over. It also covers damage caused by potholes. Collision coverage is generally sold with a deductible of $250 to $1,000—the higher your deductible, the lower your premium. Even if you are at fault for the accident, your collision coverage will reimburse you for the costs of repairing your car, minus the deductible. If you’re not at fault, your insurance company may try to recover the amount they paid you from the other driver’s insurance company. If they are successful, you’ll also be reimbursed for the deductible.

Comprehensive coverage covers you for loss due to theft or damage caused by something other than a collision with another car or object, such as fire, falling objects, missiles, explosion, earthquake, windstorm, hail, flood, vandalism, riot, or contact with animals such as birds or deer.

Comprehensive insurance is usually sold with a $100 to $300 deductible, though you may want to opt for a higher deductible as a way of lowering your premium.

Comprehensive insurance will also reimburse you if your windshield is cracked or shattered. Some companies offer glass coverage with or without a deductible.

Collision with a deer is not covered under collison cover but a comprehensive. If your policy did not have this coverage the insurance company will deny your claim. Please read your policy wording or coverage carefully. It is best to have both collision and comprehensive damage coverage if you want any damage for your vehicle covered and that way you will not have to worry much. Hope this is clarified now. Compare auto insurance quote for the auto insurance rate and auto insurance coverage also.

Response: Alaska and Maine mandate the highest minimum auto liability limits for drivers within each state. Both require drivers maintain at least 50/100/25 limits. Florida and Louisiana (but only through 2009) allow the lowest minimum auto liability limits at 10/20/10; however Louisiana is raising its minimum limits to 15/30/25 effective January 1, 2010. (One major difference between Florida and Louisiana is “No Fault” status; Florida is a personal injury protection (PIP) state where Louisiana is a compulsory liability state.)

The remaining states fall in between these two extremes with the two most common minimum limit requirements being 25/50/10 and 25/50/25 – both applicable in 12 states each. The most unusual minimum limit requirement may be that of Ohio at 12.5/25/7.5. Further, two states require their insureds carry only $5,000 in property damage protection. Auto liability limits are anything but rational or consistent throughout the country.

Forty-nine states and the District of Columbia maintain compulsory liability insurance requirements. New Hampshire will be the sole remaining voluntary financial responsibility state once Wisconsin’s compulsory liability law takes effect June 1, 2010. Although not a compulsory liability state, New Hampshire is a compulsory uninsured motorist coverage state.

You need to ensure that you have the correct auto insurance coverage. Review auto insurance policy  once you get it and compare auto insurance coverages especially the liablity coverage to see if it meets the required State limits.

Response: There are different coverage’s under an auto insurance policy like the liability coverage,-(PPI) comprehensive coverage and collision. You switched the insurance and so the new car has only the coverage which you had opted for in your old car which might have been only the liability – mandatory coverage. Thus technically you had insurance coverage sufficient to abide to your state rules but your car was not covered for own damages of comprehensive damage to the car. The snow storm which damaged your car is a natural peril and the same is covered only under a comprehensive coverage. Hence the insurance company is saying that you do not have coverage.

Review your insurance coverage when you buy a new car. For the old vehicle it would have been advisable not to have a comprehensive coverage but for a new car you need to check your insurance coverage. Please check your insurance coverage when you buy a new car and upgrade the same.