Don Rickles : I have been asked by the bank to get coverage of 100/300/100 on the auto insurance policy. Is this legal? How do I compare auto insurance quotes for these limits?

How to compare auto insurance quotes for different coverage limits?

response : Don, I can understand your apprehension when you have been asked by the bank to get coverage for 100/300/100 limits. Now, basically I can answer your questions on what this means from the insurance perspective and guide you on how to compare auto insurance quotes for different coverage limits.

Compare auto insurance quotes for liability limits

Any insurance professionals and insurance agents would endorse the fact and agree that the ideal auto insurance policy limits are 100/300/100 in insurance parlance. That means that the policy limit for bodily injury per person should be 100,000, the limit for bodily injury per car should be 300,000, and the limit for property damage per accident should be 100,000. You would have to compare auto insurance quotes based on these limits.

The above limits are much higher than the mandatory limits but these are considered the safe limits. However, these limits would depend on the financial capacity of a particular person and the area in which the person is driving. For example, if a person is at fault in a freak accident in a costly suburb and the landscape and other property of another person had been damaged heavily, then the cost of the damage could be more than 100,000.

When you compare auto insurance quotes for these limits and for the minimum limits set by the states which are much lower, you may be surprised to find that the car insurance premium is not much higher.

Though this might not be legal on the part of the bank to insist on these limits, it is prudent to have decent cover to meet any eventuality The limits of coverage which have been asked here are the liability limits. These are the limits for bodily injury, property damage and any accidents.

Compare auto insurance quotes for same limits for each quote

In case you cannot get a multiple quote, please ensure that when you compare auto insurance quotes you do put in the same limits for each quote, otherwise your whole purpose to compare auto insurance quotes and getting the best option would be in vain.

Personally, I would encourage you to get these limits and save on car insurance premiums by getting your free quote here or to compare auto insurance quotes for free. Check out your best options now, before….. the dynamic market changes like the bank rates.

Ebene Kagan : Does an auto insurance claim affect my auto insurance premium since when I did compare auto insurnace quotes my auto insurance quote was higher?
I live in New York city.

Compare auto insurance quotes or review car insurance if invloved in auto accident.

Response : Auto accidents are unfortunate events and this is the main reason why one goes for an auto insurance policy. It is a fact that in case you are involved in an auto accident and the accident falls within the perview of the insurance company they would settle your claim and reimburse you. In cases where someone is hurt or a fatal accident the financial loss can be much higher for the insurance company.

Insurance companies have their own underwriting guidelines which they follow, however the reality is that if you are involved in an auto accident the insurance premium would increase in the subsequent year on account of the claim. The quantum of increase in the auto insurance premium is not directly proportionate to the claim paid, however there is an increase in the premium.

Now as per the recent news in New York and Florida the number of staged claims are on the rise and those staging the claims involve incoent drivers in tha accidents.

Suspicious insurance claims from staged accidents are on the rise— and nowhere more than in New York and Florida, two states with no-fault statutes.

Overall, the number of questionable claims from staged accidents increased by 46.3 percent from 2007 to 2009, according to the National Insurance Crime Bureau (NICB)

Additionally, the ratio of staged accident claims to overall bodily injury (BI) and personal injury protection (PIP) claims has increased over this period while the total number of BI and PIP claims has declined.

You will be suprised to know that Florida and New York are ranked first and second, respectively, in the top 10 loss states and five of the top 10 loss cities.

The top five states that generated the most staged accident questionable claims are: (1) Florida, 3,006; (2) New York, 1,680; (3) California, 1,619; (4) Texas, 792; and (5) Illinois, 433.

The five cities that generated the most staged accident questionable claims are: (1) New York City, 1,304; (2) Tampa, 562; (3) Miami, 511; (4) Orlando, 422; and (5) Houston, 376.

Staged accidents target innocent drivers with schemes aimed at defrauding the insurance company. This would mean that you need to be more aware on the road when you are driving. Avoid tailgating at all cost and also note down all the details of the oppoiste driver and details of the claim in case you get involved in an auto insurance accident. Unfortunately, there is nothing which can be given to distingush between a genuine claim and a fraud and hence you need to be careful.

It would be best to compare auto insurance quotes online here or at any other web-site of your choice review car insurance coverage to get low auto insurance rates.

Thanks.
Kamlesh

Susan Boyle :Is it advisable to compare auto insurance quotes or review car insurance after an accident to get low auto insurance quotes in the future? Will the other insurance company know of the auto accident from my present insurance company?

Compare auto insurance quotes or review car insurance after an auto accident.

Response : Honestly, it is advisable to compare auto insurance quotes or review car insurance atleast 2 -3 times in a year so that you are informed of the changes that are taking place in the market and secondly it is very important to review car insurance if there is any change in your position in relationship, fiancially, you have taken a new job, you have changed residence or you have a different car.

When an accident ocurrs the first thing is getting your claim settled as soon as possible. Now if it is an own damage claim – for your vehicle it would be settled fast. If it going to be a liability claim than it would be more advisable to stick with the present insurance company since even moving else where might not be gainful to you in terms of premium.

You should first check up with the insurance company and your policy wordings if you have accident forgivness coverage. In this case your first accident is not going to affect your insurance premium.

Yes, your auto insurance premium would be affected by the auto accident and so it is important to compare auto insurance quotes and secondly review car insurance coverage since you might find out that the limits you have presently are not sufficent to cover liability that could arise if you end up paying out of pocket for the claim.

The insurance companies have the privacy norms and so will not tell one another about claims, however it is your duty to disclose the claim or else it is considered misrepresntation and your auto insurance policy can be cancelled or voided by the insurance company.

The prudent thing to do is to compare auto insurance quotes and review car insurance if you are looking for low auto insurance rates at every opportunity and make a wise decision. You can help your family and friends since who does not want low auto insurance rates?

Thanks.

Whitney Houston : Does a change in my marital status affect the review car insurance process or when I compare auto insurance quotes to get low auto insurance quotes?

Review car insurance, compare auto insurance quotes to get low auto insurance rates.

Response : Whitney, this may sound very suprising but your marital status is going to make a difference when you review car insurance or compare auto insurance quotes and it is directly going to affect your low auto insurance rates. What I am going to reveal further is going to suprise you even more.

First let me tell you that when you are below 25 and you get married, a change in your marital status is going to help you get low auto insurance rates when you reveiw car insurance or compare atuo insurance quotes online or through an agent. This is because the general insurance companies would consider that you have become responsible and mature and so will not now be a reckless driver.

Once you are over 25 and are married than low auto insurance rate might not be possible if you add your spouse as a named driver on your auto insurance policy. You will be paying for two drivers instead of one. It can also be possible that you have two cars in the family now and so you would be able to place the insurance with the same company and get an additional discount for this when you review car insurance or compare auto insurance quotes and thus get a low auto insurance rate or discount if your spouse is a good driver and is the named driver.

Taking into consideration, if you are divorced, than you might loose the additional discounts for multiple cars but you might also end up paying lower since your coverage is reduced since you are the only driver and do not have any additional drivers to the policy.

So when you review car insurance or compare auto insruance qutoes than your marital status is going to be an important factor in your getting low auto insurance rates.

Ping my blog

Maria Smith : Everyone talks about how to compare auto insurance quotes and review car insurance coverage, how about letting us know what the auto insurance policy does not cover?

Comapre auto insurance quotes and review car insurance coverage and note also what the exclusions are:

Response : Very interesting and very precise, you need to compare auto insurance quotes and review car insurance coverage but its true that you need to know about the exclusions.

It is best to know what the exclusions are so that you will avoid such situations or take precautions so that you will We’ve already discussed who is covered under a personal auto insurance policy. Now let’s look at when you’re not covered under your policy. Some of these exclusions for coverage may seem ridiculous, but your insurer wouldn’t bother to exclude them if they never occurred.
• If you do not list the other vehicles that you own on the policy and do not have coverage for them and this is than an exclusion.
• If you use our vehicle for racing or for speed contest than you will not have coverage for this. You will need to take up a special event policy to cover the liability and this is avaliable from the speciality insurance companies.
Incase you drive your roommate’s car everyday, you would need to be covered under your roommate’s insurance for liability.
Also, if you cause an accident while driving a car you own that is not listed on your policy, you wouldn’t have coverage. Also note that when you drive a car temporarily replacing your owned car which is listed, or a new vehicle you purchased, you have coverage for a specified amount of time, usually not longer than a couple of weeks, you need to inform your insurance company about this.

• Similar to the above, vehicles owned by a family member that are regularly made available for your use, unless they are listed on your policy, are not covered for liability.
• Nuclear energy liablity is not covered under an auto insurance policy. There is normally a pool in each country which cover the nuclear liability.
• Vehicles with less than four wheels or not made for use on public roads are not covered. For example, a three-wheeler or golf carts. These vehicles are typically covered under a homeowner’s policy. Whether or not you own a home, some insurers allow you to endorse your policy to include these vehicles.
• Public or Livery Conveyance – You should never useyour own vehicle for any reward to transport people of things. This is a common exclusion on your auto insurance policy. The insurer expects you to get a commercial auto policy for this coverage. Some examples include limousines, taxi cabs, church vans, and others.
• You should not use your car which if declared for personal use for your business use. A common use is for delivering pizzas and this should be avoided or else you should take a business use for your auto insurance policy.

Next we will discuss about the contents of auto and what is covered and not covered under an auto insurance policy.

Once you know the details of the exclusions you can opt for the right coverages and take a business coverage where required. Compare auto insurance qutoes and review car insurance coverage keeping in mind all the aspects of auto insurance coverage.

Thanks.
Kamlesh