Friday, December 4th, 2009 at
Compare auto insuranceEben Pagan : Ohio, has very low auto insurance quote. Will the same premium prevail in 2010?
Response : It is indeed true that Ohio is the 11th lowest auto insurance rates in the nation, improving from its ranking of 13th in 2007. The auto insurance premium for Ohio on an average is $633.31 in auto insurance premiums in 2008, whilst the average US auto insurance premium are $794.98.
The Ohio Department of Insurance reports that auto insurance rates in that state have declined for the third consecutive year, according to the 2006/2007 Auto Insurance Database Report just released by the National Association of Insurance Commissioners (NAIC).
“Ohio has a healthy, dynamic and competitive auto insurance marketplace that helps drive the prices of premiums lower to the benefit of consumers,” said Ohio Department of Insurance Director Mary Jo Hudson.
Ohio’s average auto premium is less now than it was seven years ago, according to the Ohio Insurance Institute (OII). In 2002, Ohio’s average auto insurance expenditure was $642. Based on the NAIC findings for 2007 and the Ohio Department of Insurance (ODI) 2008 rate change report, OII estimates that the average auto insurance expenditure for Ohioans was $633 in 2008.
Department of Insurance analysts expect that rates for automobile insurance, overall, will slightly rise in 2010. Changes in automobile insurance rates can be attributed to repair costs, medical costs, weather-related claims, and the number of cars on Ohio roads.
What is important to note here is that the auto insurance rates are related to the auto claims expenditure and since these expenditures have remained low and this has helped in keeping the low auto insurance quotes. We all can help ourselves by being responsible auto drivers.
Thanks.
Kamlesh
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Friday, November 27th, 2009 at
Compare auto insuranceJeff Walker: Can you give me some tips with regards to auto insurance policy?
Response: Sure Jeff, it is always a pleasure to talk about insurance at any time of the day. Here are some tips for auto insurance policy renewal or cancellation which most of us over-look, but are very important for any of us :
Car Insurance Policy Renewal :
The insurance company should send you the renewal notice approximately 30 days before it expires. This is basically to allow you to make the relevant changes in the policy, review auto insurance coverage, compare auto insurance quotes and shop aorund.
If you do not make payment of the premium before the renewal day, the policy coverage will lapse and your policy will be treated as a new coverage. You will loose the No claim discount or the accident forgivness condition might lapse.
If there is a lapse in your coverage due to cancellation of your policy because of non-payment of premiums, insurance companies may then charge you higher premiums for a future policy. Your automobile insurance rates are based on the information you have given to your broker, agent, or insurance company. An insurance company has the right to cancel your policy if the information you have given is not correct or complete.
Your car insurance rates are based on the information you have given to your broker, agent, or insurance company. An insurance company has the right to cancel your policy if the information you have given is not correct or complete. This is considered a misrepresntation and your auto insurance claim can also be denied.
The colour of your car would not affect the premium since the rating is based on the vehicle model, year of make, purchase price, theft frequency, repair cost , safety features and stablity in accident and claims data for such type and make of vehicles. Some insurers do consider higher rating for 2 door vehicles than 4 door vehicles based on the safety feature – four door vehicles have better chances of the occupants being able to leave the vehicle and get out in case of accident. However, this is not the rule of the thumb.
When you don’t want to renew your policy, you should notify your broker, agent, or insurance company immediately. Don’t just stop making payments: that will result in cancellation of your policy because of non-payment and possibly put you in a higher risk category.
Auto insurance Policy cancellation:
Your insurer can cancel your policy for non-payment of premiums, so long as it follows certain procedures. As required by the Insurance Act, the insurer must give you 15 days’ notice of termination by registered mail or five days written notice of termination if it’s personally delivered. If you pay the outstanding premium before the end of the notice period, the insurer may, but is not required to, keep the policy in force. If the insurer does not receive your payment before the end of the notice period, your policy will be cancelled for non-payment.
When you want to change your insurance company mid-way in your policy or before expiry of the present policy and cancel it, you may have to pay a penalty. You may instead want to have the new policy start once your existing policy expires.
Please review your auto insurance coverage, read your policy conditions for cancellation, before you take any step. Compare auto insurance quote and enjoy your low auto insurance premium.
Thanks.
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