Car Insurance – California, Do You Have Auto Coverage?

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Trying to find an alternate route to work when nearly 280,000 other commuters are scrambling to find their way into the city can definitely increase the odds of getting involved in a fender-bender. San Francisco Bay area interstate travelers will be the first to tell you that you cannot predict accidents or catastrophes. Whether you are involved in a natural disaster, auto accident or other catastrophe, insurance plays an important role in securing your funds for the future. Californian or not, it’s always important to see what auto insurance coverage your state suggests or requires.

There’s a long stretch of road between Redding and San Diego, California – which means many opportunities for unexpected auto accidents to occur. The Bay Bridge between Oakland and San Francisco, for example, is a hotbed of confusion and congestion that travelers are trying to navigate and conquer.

Between the excitement of summer and trying to secure your vacation plans, preparing for an auto disaster is probably the last thing on your mind. But the summer heat and unexpected bumps in the road can both wreak havoc on your auto and put you in jeopardy if you’re not prepared. If something happens while you’re driving down that long California interstate, are you covered? Let’s sift through your car insurance policy to consider your options:

What coverages are included in an auto insurance package?

When you purchase auto insurance, you usually have several options – you can purchase medical, liability, property and under/uninsured motorist coverage.

Medical coverage in an auto insurance package will take care of treating injuries to those in the policyholder’s automobile. Medical coverage will be provided if the person is a passenger or hit as a pedestrian.
Liability is your financial responsibility to someone for damage you cause – whether the damage is to another person or to someone’s property. When you purchase liability coverage, the insurance company agrees to defend you in court and/or reimburse the other party for damages you cause.
California state laws require motorists to purchase the following liability insurance amounts.
$15,000 - bodily injury liability for one person injured in an accident
$30,000 – bodily injury liability for all injuries in one accident
$5,000 – property damage liability for one accident
Covering property damage includes comprehensive and collision insurance.
Comprehensive coverage insures accidental damage to the auto including fire, wind, sleet, theft, vandalism and similar damages.
Collision coverage reimburses for damage caused by colliding with another object, regardless of who or what is at fault.

What happens if the person that hits you is uninsured or does not have proper coverage to take care of your entire loss? Purchasing uninsured and/or underinsured motorist coverage will cover both of those situations.
If you have not glanced through your auto insurance policy in awhile, it’s time to consider reviewing it. The warm summer weather means your air conditioning will be running longer and your engine will be working harder. It’s important to take time right now and make sure you will be covered if you find yourself stuck on that long stretch of California road between Redding and San Diego.

Sunday, February 20, 2011 by Toolib · 0 komentar

Auto Insurance – What’s In Your Policy?

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If you are in an auto accident – the last thing on your mind should be money. It is important to know you are covered and what that coverage includes. 

While thinking about wrecking your car probably isn’t the most pleasant thought, it is important to purchase auto insurance so you will be compensated for your losses and have funds secured for those unforeseen events.

The value of auto insurance cannot be stressed enough. If you are an uninsured driver involved in an accident, you may face thousands – possibly millions – of dollars in expenses, depending on the severity of the situation.
So you’ve purchased auto insurance. That’s good. Even more important, however, is knowing what that auto insurance covers if you are involved in a wreck or find your automobile broken into.

There are several types of personal auto insurance coverage. While you are not required to purchase all of the offered coverages, most states require you buy a few of them. Let’s examine some of the coverages you might find in your personal auto insurance policy:

The basics of auto insurance include liability, property, medical and under/uninsured motorist coverage.
Liability coverage pays for bodily injury or property damage claims to those you are legally responsible for. This coverage takes care of the damage you cause to someone else or his or her property.
Property coverage compensates for damage to or the theft of your car. Two types of property coverage include collision and comprehensive.

Medical coverage is responsible for the treatment of injuries to the driver and passengers of the policyholder’s car. Coverage is provided regardless of whether the individual is a passenger or struck as a pedestrian.
Uninsured motorist coverage reimburses you if you are hit by an uninsured driver. Underinsured motorist coverage provides compensation if the party at fault does not have adequate coverage to pay for your entire loss.

These are just a few of the coverages that might be found in your personal auto insurance policy. Do you know what’s in your policy? If not, it might be a good idea to take a look and understand the ways you, your car and your loved ones may or may not be protected.

by Toolib · 0 komentar

Auto Insurance Tips – Sealing the Deal on Affordable Car Insurance

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Okay. I admit it. I’ll stand in line for the latest Harry Potter book. You can probably convince me that I “need” the latest Dior volumizing mascara and yes, I have eaten turtle cheesecake for supper before. I have several guilty pleasures. Buying auto insurance is not one of them, but it’s a necessity. Read on to learn why, in addition to being a legal stipulation, auto insurance is important to you and your assets.

First things first – While penalties vary state to state, you can guarantee that driving without coverage will take some clank out of your bank. Uninsured drivers can face a myriad of punishments for merely being stopped and not being able to prove coverage. This fact alone should be enough to convince you to start researching reasonable insurance coverages for your vehicle.
Not persuasive enough? Consider your possible liability in the event of an accident…
Your vehicle collides with Mrs. Baker’s vehicle. Mrs. Baker is a fourth grade teacher at the local elementary school and is now facing $80,000 in medical bills, $65,000 in lost wages and is requesting $200,000 for pain and suffering. That’s a $345,000 claim that, unless you have adequate coverage for, you will be pulling out of your pocket. Certainly in this case, as the too familiar adage wisely states, it’s better to be safe than sorry.
So, you know you need auto insurance. While it’s not sinfully delicious or nearly as enjoyable as turtle cheesecake, lack of adequate coverage will definitely leave you with a bellyache in the event of an automobile accident. It is possible to find insurance you can afford.

Remember! Your car insurance rate is based on your insurance risk assessment. If an insurance company determines you are a high-risk driver, your monthly cost will be higher than that of the average driver. You CAN remedy this! Let’s take a look at a few things you can do to reduce your auto insurance risk which, in turn, could lessen your auto insurance cost…

1) Purchase home/renter’s insurance from the same carrier as your auto insurance. Some insurance companies offer multi-policy discounts.

2) Always obey traffic laws, specifically the speed limit. Insurance companies take note of your driving record. More speeding tickets = higher risk driver = increased auto insurance cost.

3) Study hard. Insurance companies often reward students with good grades with a student discount.

4) Purchase a vehicle that receives notability for low damageability and increased passenger safety.

5) When given the option, purchase additional safety features for your vehicle. (Air bags, antilock brakes, etc.)

6) Take a driver safety course. A defensive driving class could possibly reduce your insurance rate. If not, it would at least make you more aware of the importance of being a defensive driver.

Other things to keep in mind…
1) To the insurance company, plain and simple, you are a set of risks. Anything you can do to decrease your “risk factor” might affect your cost of coverage.
2) Always ask for discounts. Many insurance companies offer deals for safe drivers. If you’re considered less of a risk, they’ll likely reward you.
3) Always comparison shop. You can always find a bargain if you know where to look. Insurance is such a commodity. Comparison sites like HometownQuotes (http://www.hometownquotes.com) can help you shop for affordable insurance.
You can always eat too much cheesecake. You may get tired of Harry, Hermione and Ron. And that tube of Dior mascara will eventually get clumpy. Your auto insurance, however, is one purchase that you should never regret or feel guilty about. It will only cushion you in the end. Are you covered?

by Toolib · 1 komentar

California Minimum Car Insurance Requirements

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When it comes to protecting you and your family, possessing an appropriate level of liability coverage is a must. Liability insurance covers the damage you cause in an accident. This is different from other aspects of California car insurance such as comprehensive or collision coverage. It is important to understand the minimum levels of liability coverage allowed in the state of California so you can choose an optimum level of coverage. California has adopted a 15/30/5 standard. Each number represents the minimum dollar amount (in thousands) of liability coverage your plan must contain in each category to comply with state law.

The first number represents the bodily injury liability limit, which is $15,000 per injured person. The second number is the bodily injury liability limit for all injuries incurred in the accident, which would need to be at least $30,000. Last is the property damage liability limit per accident, which needs to be at least $5,000. These requirements are among the lowest in the nation, so it is important to consider additional coverage for added peace of mind. Any discrepancy between what your insurance company pays and the total cost of damages could be your responsibility, so it is wise to opt for a higher level of coverage.

If you do not comply with the California minimum car insurance requirements, you could face steep penalties that might include fines or license suspension. This is why choosing the right California car insurance plan is so crucial. Many institutions recommend that you carry at least 100/300/100 liability coverage to give yourself better protection in the event of an accident. We have made it extremely easy to get a free quote and purchase superior coverage. To get started, fill out the convenient form located at the top of the page!

Tuesday, February 15, 2011 by Toolib · 0 komentar

Injury Claims: Who Pays?

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For those who suffer injuries in a car accident, much confusion exists as to who is financially responsible for the injured party's medical expenses. The answer to this question is not clear cut and will depend heavily on the insurance laws of the state in which the accident occurs. How medical bills are paid after an accident will vary based on whether your state has a fault-based auto insurance system. In this post, we'll discuss more about who pays personal injury claims and give you instructions on what to do if you are injured in an auto accident.

No-Fault vs. Tort Liability States

A tort liability, or fault-based, auto insurance system requires insurance companies to make payments commensurate with each party's level of fault. In a fault-based system, you can sue the other party for pain and suffering and uncompensated financial damages. Because of the long court battles and many failings of the fault-based system, about 22 states have adopted some form of a no-fault insurance system. With a no-fault system, the driver who is not at fault does not have to prove his/her innocence before receiving compensation from his/her insurance company. However, in no-fault states, the good driver does not have the right to sue the at-fault party for emotional distress, inconvenience, or pain and suffering.

If You're Injured

If you are injured in an auto accident, you are the one who is financially responsible initially. Once your treatments are complete, who pays for your medical expenses will depend on who was at fault. Here is what you should do if you are injured in an auto accident:

1. Get emergency medical treatment if needed.
2. Contact your insurance company. If you don't think you were at fault in the accident, contact the other party's insurer ASAP to initiate the claims process. Keep in mind that the other driver's insurer will not pay your medical bills piecemeal; rather, you will receive one final settlement after all of your expenses are known and the accident investigation is complete. Keep records of all of your accident-related medical expenses.
3. Set up follow-up care (non-emergency treatment). Make sure you are keeping a record to document your pain and suffering in case you have to sue the other party for compensation.
4. You will be billed for your medical expenses.
5. Pay your bills. If you have medical payments coverage or personal injury protection on your auto policy, submit your medical expenses to your car insurance company. If not, submit the bills for covered treatments to your health insurer.
6. Determine fault. If the accident was your fault, you are done with the claims process once you submit your bills to your insurer (health or auto). However, if the accident was the other driver's fault, get in touch with the driver's insurer to discuss your final settlement. Remember that lawyers, medical providers, and health insurers might be entitled to part or all of your settlement. If the other party is uninsured, you will need to contact your insurance company to activate your uninsured/underinsured motorist coverage and discuss your settlement.

by Toolib · 0 komentar

Hit and Run Claims

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After spending the last hour in the grocery store, you push your cart out of the store and head towards your car. Suddenly, you notice a cargo van quickly backing up and heading straight for the front of your car. You yell for the driver to stop, but it's too late.

The front of your car is now a crumpled mess. To make matters worse, the driver of the cargo van isn't stopping. He's turning the wheel and putting the van into drive. You quickly grab a pen and scribble the license plate number onto the palm of your hand. Next, you call the police.

While you're waiting for the police to arrive, you locate two other people who witnessed the hit-and-run. They are both in a hurry, but provide you with their name and phone number so your insurance company can contact them and obtain their statements.

After filing the police report, you go home and put your groceries away. Then you call your insurance carrier, or visit their website to file your claim. But, before you file the claim you need to make certain you have the proper coverage.

If you don't carry full coverage on your vehicle, chances are you aren't covered for a hit-and-run accident. This doesn't mean you can't file a claim with the hit-and-run driver's insurance company -- if he's insured.

To do this, you will need to file a police report and provide the authorities with the license plate number. You'll also want to provide the names and contact information for those who witnessed the hit-and-run incident.

The police should be able to track the vehicle from the license plate number. Only then will you be able to determine if the driver has insurance or not. If he does not have insurance coverage and you do not have uninsured motorist coverage, the only recourse left is to file a complaint with your state's District Attorney's office. You will be required to provide proof of damages and a police report to initiate a restitution order against the driver.

If you are able to obtain the hit-and-run driver's contact information, you can file a lawsuit against him in Small Claims Court.

If you have uninsured motorist coverage, it's best to work with your own insurance carrier. They will work as your personal advocate and take the necessary steps to recover expenses from the hit-and-run driver or through his insurance company.

It's important to remember that when you use your own insurance company to file a hit-and-run claim, you will be responsible to cover the deductible amount. Should you or your insurance company be able to recover expenses from the hit-and-run driver, you will be reimbursed for your deductible.

If you are unable to obtain the license plate number of the hit-and-run driver and you do not have full coverage or uninsured motorist insurance, you are basically out of luck. There is nothing for you to fall back on and you will have to pay for the damages to your vehicle out of your own pocket.

If you are unable to obtain the license plate number of the hit-and-run driver, and do have full coverage and uninsured motorist insurance, you will be able to file a hit-and-run claim. However, you will not be able to recoup the cost of your deduction.

by Toolib · 0 komentar

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Is it necessary by law to have full coverage car insurance? No, the only legally stipulated insurance coverage is liability car insurance. Full coverage car insurance is a combination of liability insurance, collision coverage and comprehensive coverage. A car owner who buys full coverage car insurance is protected against anything that can possibly go wrong regarding damages to their car, damages caused by their car or in case it is stolen. Naturally this would be the ideal insurance plan for every single car owner. However because it is not required by law, many people do not buy full coverage car insurance.

People who would normally buy full coverage car insurance are those who’ve obtained a bank loan or some other loan to purchase their car. Most banks and lending institutions include full coverage car insurance as a requirement in their automobile lending contracts. This assures the lender their investment is protected. If anything were to happen to the car, full coverage care insurance would either repair or replace the vehicle. This protects the borrower as well. Imagine if a person bought a $40000 vehicle, didn’t buy full coverage car insurance and it was stolen. The vehicle would still need to be paid for which means the borrower would be making monthly payments on a vehicle they didn’t have. Also, it would be unlikely they could afford to buy another vehicle. Full coverage car insurance would protect the owner and the lender. In the case of a stolen vehicle, full coverage car insurance would insure it would be replaced.

Nobody chooses to have an accident, nor do they wish to have one but, the fact remains motor vehicle accidents happen each and every day in America. In all cases the number one concern should be the safety of the drivers and passengers. Countless times individuals are physically hurt in car accidents. These physical complications require medical attention and of course medical costs. Because liability insurance is included in full coverage car insurance, these medical costs will be taken care of. Both vehicles will also be taken care of if the individual who caused the accident has full coverage car insurance. This is especially important when the accident was caused by an act of God.

Full coverage car insurance is quite expensive and worth every penny in the case of an accident. There are steps a car owner can take to obtain affordable full coverage car insurance. One step to take, which can apply to all insurance coverage is to maintain a clean driving record. When buying car insurance, driving offenses will add dollars to a full coverage car insurance policy. It is important to avoid tickets and fines. Another way to get a good deal on full coverage car insurance is to raise the deductible. If choosing a zero deductible insurance policy, a car owner can expect to pay dearly. However, if choosing a deductible of only $500, a car owner can make a difference to their full coverage car insurance by ten percent. With the cost of living nowadays, even ten percent makes a huge difference. With regards to the $500 deductible, this will seem irrelevant if an accident requires thousands of dollars in repairs and medical bills.

Full coverage car insurance discounts can be found by shopping around. Often a person needs to inquire about discounts since they are not always freely relayed. A car owner may find insurance discounts by shopping for online car insurance as well. There are so many insurance providers competing for customer’s business. Often to attract car owners, an insurance company will offer discounts on policies such as full coverage car insurance. The Internet puts the world at your fingertips and provides an opportunity to freely browse hundreds of car insurance websites in search of the perfect plan for you. Many of these websites are equipped to provide online quotes. This can help compare full coverage car insurance costs from site to site, one insurance provider to another.

by Toolib · 0 komentar

Full Coverage vs Liability - Which Is Better

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At the opposite ends of the car insurance spectrum are full coverage and liability only. In reality, there are many steps in between these polar opposites and there are even multiple levels of full coverage and liability only. However, car insurance can best be understood by first fully comprehending the differences between these two extremes.

by Toolib · 0 komentar

The Most (and Least) Expensive Vehicles to Insure

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he Porsche Carrera 911 GT2 two-door coupe is the most expensive 2010 vehicle to insure, according to a new ranking of average premiums for 2010 models that Insure.com released this week.
The rankings, which the insurance information and shopping site publishes annually, are based on the premium that a 40-year-old man with a good driving record, a good credit record and a 12-mile commute would pay annually.

The insurance data firm Quadrant Information Services calculated the average premiums for Insure.com by averaging car insurance rates from six large carriers across 10 ZIP codes in each state. According to the results, the national average annual premium for the Porsche 911 Carrera GT2 is $2,943.78, and other high-end sports cars like the Dodge Viper tended to dominate the list of the most expensive premiums (see the chart below for more). Amy Danise, senior managing editor at Insure.com, said the results didn't surprise her since insurance policies are based on claims history. The Porsche Carrera GT2 "would have a really high claims history, meaning the drivers of that model have submitted a lot of very expensive claims. They crash a lot, and the cars could be very expensive to repair," she said


In 2007, I wrote an article for The Wall Street Journal called "Honey, I Wrecked the Porsche," about the spate of owners crashing expensive sports cars, including Porsche Carrera models. One reason for the crashes: inexperienced or reckless drivers getting behind the wheel of increasingly powerful and light cars.)
Meanwhile, at the other end of the spectrum, minivans dominated the list of those least expensive to insure (see the chart below for more). Ms. Danise said minivans and smaller sport utility vehicles tended to be the least expensive to insure.
One surprise on the least expensive list? The Jeep Wrangler, which Ms. Danise said must not have a lot of claims attached to it. "It's hard to speculate" why it's on the least expensive list, she said. "But it could be cheaper to repair or have fewer injury claims."
The particular car insurance policy that the survey examined contained uninsured motorist coverage, coverage of $300,000 for all injuries, coverage of $50,000 for property damage in an accident and a $500 deductible on collision and comprehensive coverage.
The study covered about 2,400 2010 models. Those left out were ones for which there wasn't enough data, including exotic cars like Bentleys and Lamborghinis, which Insure.com said probably carried hefty insurance bills.
While actual premiums will vary based on individuals' characteristics, including age, driving record and the chosen policy, Ms. Danise said vehicles' placement in the rankings should stay relatively consistent from driver to driver.
Among categories of vehicles, according to Insure.com, the Dodge Caliber is the least expensive passenger car to insure, the GMC Canyon WT (2WD 2 Door 2.9L) is the least expensive pickup to insure and the Honda Odyssey LX (5 Door 2WD SOHC) is the least expensive minivan to insure. Click here for the full list and a new tool from Insure.com that lets you search the rankings by vehicle and location.

Sunday, February 13, 2011 by Toolib · 0 komentar

Where Auto Insurance Is Most Expensive

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Louisiana has the highest average auto insurance rates in the United States, while Maine has the lowest, according to new data from Insure.com that ranks the states according to their average insurance rates (see the full ranking below).

The data, which Insure.com released Monday, comes from a study Quadrant Information Services performed for Insure.com to find the most and least expensive vehicle to insure nationwide, which we covered in a March Bucks post. The data, which determined average insurance premiums rates for more than 2,400 vehicles from the 2010 model year from six large carriers across 10 ZIP codes in each state, also enabled a comparison of auto insurance rates in general across the states.

What's behind states' different rates?
According to Insure.com, states' different laws are partly to blame. "Our findings show that the financial ramifications of specific state laws and regulations are driving high rates in certain states," Amy Danise, senior managing editor of Insure.com, said in a statement. "No matter how good your own driving record is, you're paying for the decisions of lawmakers."




Ms. Danise said she had expected to see states with more urban areas at the top of the list but Insure.com discovered from talking with insurance agents that the states at the top of the list have certain regulations that drive up rates in those states. In Louisiana, for instance, more cases are settled out of court with expensive settlements because only cases with claims in excess of $50,000 receive a jury trial there. In Michigan, meanwhile, which had the second-highest average auto insurance rates, state law provides unlimited medical benefits for accident victims for life, probably pushing up auto insurance costs, according to Insure.com.
In contrast, population levels may be why certain states are at the bottom of the list. According to Ms. Danise, the states with the lowest insurance costs tend to be more rural. Maine, for instance, may have low auto insurance rates because its highways are less crowded, which may mean fewer crashes over all.
Here's the full ranking below, and let us know if it lines up with your experiences buying auto insurance in different states.

The most and least expensive states for car insurance:

Rank	State	Avg. Premium
1	Louisiana	$2,510.87
2	Michigan	$2,098.29
3	Oklahoma	$1,869.39
4	Montana	$1,857.96
5	California	$1,774.41
6	South Dakota	$1,772.83
7	Washington, D.C.	$1,753.19
8	Georgia	$1,751.42
9	Illinois	$1,679.15
10	Connecticut	$1,678.90
11	Arkansas	$1,648.80
12	New Mexico	$1,603.65
13	Rhode Island	$1,595.97
14	West Virginia	$1,589.69
15	Alaska	$1,572.21
16	Wyoming	$1,552.98
17	Maryland	$1,550.13
18	Kansas	$1,524.51
19	Kentucky	$1,515.30
20	Colorado	$1,480.97
21	Mississippi	$1,474.94
22	New Jersey	$1,473.73
23	New York	$1,463.21
24	Texas	$1,462.65
25	Florida	$1,453.20
26	Pennsylvania	$1,420.78
27	Delaware	$1,405.80
28	Missouri	$1,390.59
29	Minnesota	$1,381.09
30	Alabama	$1,380.38
31	North Dakota	$1,365.22
32	Hawaii	$1,306.97
33	Indiana	$1,302.51
34	Nevada	$1,282.50
35	Washington	$1,279.84
36	Utah	$1,234.30
37	Virginia	$1,233.36
38	Nebraska	$1,210.74
39	Oregon	$1,194.69
40	Idaho	$1,183.47
41	South Carolina	$1,182.18
42	Tennessee	$1,170.12
43	Arizona	$1,152.50
44	North Carolina	$1,130.45
45	Massachusetts	$1,043.80
46	Iowa	$1,039.04
47	New Hampshire	$1,011.23
48	Wisconsin	$1,010.93
49	Ohio	$999.86
50	Vermont	$968.58
51	Maine	$902.85

Source: Insure.com, from a study commissioned by Insure.com from Quadrant Information Services

by Toolib · 0 komentar

Coolest Cars Under $18,000

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Ford Fiesta

Ford Motor Company

Price: $13,320 - $17,120
Gas mileage: 29 City / 38 Hwy
Ford is making a big splash in the sub-compact car market with the new Ford Fiesta. Early reviews put this one at the top of its class.
Kelley Blue Book, the automotive Web site that picked this list of the best cars you can buy for less than $18,000, calls it "better looking, nicer inside, and even more fun" than the Honda Fit, a car that's long been one of KBB's favorites.


Honda Fit

Honda Motor Company

Price: $14,900 - $16,410
Gas mileage: 27 City / 33 Hwy
The Fit earns major points for its fuel economy and fun-to-drive character. KBB also lauds options like navigation and iPod integration.


Honda Civic

Honda Motor Company

Price: $15,455 - $25,340
Gas mileage: 26 City / 34 Hwy
You might not think the Civic as "cool" exactly. After all, it's not like you're going to stand out from the crowd by buying one. But the Civic gets points from KBB for its futuristic exterior styling and cabin design as well as options like GPS and a leather-appointed interior.


Hyundai Elantra Touring

Hyundai Kia Automotive Group

Price: $15,995 - $18,995
Gas mileage: 23 City / 31 Hwy
The Elantra Touring's handsome exterior is backed up by a classy and spacious interior, KBB says. The Elantra Touring also is technology-rich, featuring USB connectivity so you can plug your MP3 player in.



Kia Soul

Hyundai Kia Automotive Group

Price: $13,300 - $17,195
Gas mileage: 26 City / 31 Hwy
Besides a lot of room for such a small car, the Kia Soul's van-like body also holds some surprisingly upscale technology, including standard Bluetooth connectivity and iPod integration. KBB also compliments its "confident styling."



Mazda3

Mazda Motor Company

Price: $15,345 - $22,145
Gas mileage: 25 City / 33 Hwy
The Mazda3 is a small car that's fun to drive and easy to live with. KBB credits it with the "hat trick of cool." It's fun to drive, exciting to look at and cheap to own."

by Toolib · 0 komentar

The Most-Stolen Cars

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If you own a Cadillac Escalade, you may want to watch where you park it. According to a report released today by the Insurance Institute of Highway Safety (IIHS), Escalades with model years 2007 through 2009 have the highest theft rate of any vehicle in the country. The average yearly monetary value losses for the Escalade alone are more than seven times the average; almost 25% of all Escalade theft claims are for $40,000 or more.

Other large vehicles also made this year's list of hot wheels, including the Ford F-250 (NasdaqCM: FORD - News) crew cab pickup truck, the Nissan Pathfinder (Other OTC: NSANY.PK - News) Armada and the Hummer H2 4WD. Luxury SUVs in general have the most theft in proportion to their worth--the value of their loss is more than six times as high as the average for all passenger vehicles.

In other words, the family station wagon isn't even a contender for most-stolen.
"Thieves are after chrome, horsepower and Hemis," says Kim Hazelbaker, vice president of the Arlington, Va.-based Highway Data Loss Institute (HLDI), an affiliate of IIHS. Work trucks are particularly attractive--not only because of the vehicles themselves, but because of the tools and cargo they carry.

Behind the Numbers
To determine the vehicles with the highest theft rates in the country, HLDI started by looking at only insured passenger vehicles between one and three years old. Then they calculated which insurance claims were filed for each particular model of vehicle, and the size of the payment for each claim. By comparing the number of claims to the number of cars insured, the process indicates vehicles most likely to be targets of theft, because it takes into account a given model's total exposure to the road.
In other words: While more Toyota (TM - News) Corollas are stolen than Cadillac Escalades, that's because 297,000 Corollas were sold last year, as opposed to just 16,000 Escalades. But the odds of having your car stolen are much higher if you own the Caddy--HLDI calculated 10.8 theft claims per 1,000 insured vehicle years (one vehicle insured for one year, or two of the same vehicle insured for six months each). The average claim frequency for all passenger vehicles is 2.1 claims per 1,000 insured vehicle years, with an average loss payment of $6,883 per claim.

The Most Wanted
Most of the vehicles on our list are SUVs and trucks--the Chevrolet Avalanche 1500 and GMC Yukon among them. But that doesn't mean cars are immune to thievery. The Infiniti G37 coupe, Chevrolet Corvette Z06 and the Dodge Charger with HEMI engine each posted big claim frequencies as well.
Chevy's $74,285 Corvette--a souped-up version of the $48,930 base model--particularly stands out on the list. It has a claim frequency of just 1.7 thefts per 1,000 insured vehicle years, but the average loss value per Z06 claim is almost $42,000. Ouch.

Preventing Theft
There is good news for owners of at-risk car models: The frequency of theft claims for cars and SUVs has declined since 1998, even while average insurance payments per claim have increased. Frequencies have dropped the most for SUVs, from 4.9 claims per 1,000 insured vehicle years in 1998, to 2.4 in 2008, according to the report.
Russ Rader, the spokesman for IIHS, says the best thing drivers can do to prevent their vehicle from being stolen is to remove the keys from the ignition, and lock the doors. Anti-theft and recovery devices like sensitive alarm systems, OnStar and immobilization technology help deter filching as well. But even the latest technology can't outsmart the most determined crooks.
"An immobilizer won't stop a thief from putting an Escalade on a flatbed and hauling it off," Rader says.
Better choose that parking space wisely.

 List: The Most-Stolen Cars
To determine the vehicles with the highest theft rates in the country, the Highway Data Loss Institute looked at only insured passenger vehicles between one and three years old. Then they calculated which insurance claims were filed for each particular model of vehicle, and the size of the payment for each claim. By comparing the number of claims to the number of cars insured, the process indicates vehicles most likely to be targets of theft, because it takes into account a given model's total exposure to the road.
The average claim frequency for all passenger vehicles is 2.1 claims per 1,000 insured vehicle years, with an average loss payment of $6,883 per claim. Insured vehicle years are measured as one vehicle insured for one year or two of the same vehicle insured for six months each.





1. Cadillac Escalade



Segment: Large Luxury SUV

Claim Frequency: 10.8 per 1,000 insured vehicle years

Average Loss Payment Per Claim: $11,934







2. Ford F-250 crew 4WD



Segment: Large Pick-up

Claim Frequency: 9.7 per 1,000 insured vehicle years

Average Loss Payment Per Claim: $9,636







3. Infiniti G37 2-door



Segment: Luxury Compact

Claim Frequency: 7.1 per 1,000 insured vehicle years

Average Loss Payment Per Claim: $10,324







4. Dodge Charger HEMI



Segment: Large Sedan

Claim Frequency: 7.1 per 1,000 insured vehicle years

Average Loss Payment Per Claim: $10,118







5. Chevrolet Corvette Z06



Segment: Sports Car

Claim Frequency: 1.7 per 1,000 insured vehicle years

Average Loss Payment Per Claim: $41,229

by Toolib · 0 komentar

7 Ways to Save Money on Car Insurance

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What would you say if I told you that you might be able to save over $500 on car insurance in less than an hour? And that you could complete the entire process from home?

Here are seven different ways that you just might be able to save hundreds of dollars on your car insurance if you simply take a few minutes to put these tips into action:

1. Drop Coverage You Don't Need
The beauty of doing a car insurance coverage checkup every six months or so is that even if it turns out that your current car insurance coverage is still the best value out on the market you may just find out that you are paying for a part of your auto insurance policy that you no longer need.
Not only do insurance rates change quite often but your insurance needs change more often than you may think. If you have a new teenage driver or have added a new car to your policy or have moved to a new zip code or--well, the list goes on and on. All of these things may potentially cause you to be paying for coverage that you no longer need.

2. Search for Discounts
Never assume that because you searched for all of the car insurance discounts available 6 months ago that now there are no new discounts that you may be eligible for. New opportunities for saving money with a car insurance discount program pop up all of the time as different companies announce different discount programs in order to increase their market share.

3. Improve Your Credit Score
It's no secret that a better credit score will result in better car insurance rates. You may have been working hard to improve your credit score over the last few months in order to qualify for lower interest rates for a home loan or auto loan and you are now starting to see some of your hard work pay off.
When you see an increase in your credit score don't let the opportunity slip by to check and see if this credit score improvement will result in an improvement in your auto insurance rates as well. You've worked hard to improve your credit score so why not spend a few minutes to see if that can only help you get a lower interest rate but a lower car insurance rate as well?
Take some of your car insurance savings and use it to treat yourself to a nice dinner at your favorite restaurant--you deserve it!

4. Pay Your Premiums With a Credit Card
Wanna shave off 1 percent to 5 percent off of your total car insurance premiums just by changing your method of payment? With the average cash back credit card earning you anywhere from 1 percent to 5 percent cash back that's like getting a bill from your insurance company and then having to only pay 95 percent to 99 percent of the total instead of the full 100 percent!
One to 5 percent may not seem like much but as you can see with a cash back credit card calculator that money can quickly start to add up--depending upon how much money you spend each month if you use that cash back card for many of your purchases then your savings could end up being enough to pay for an entire year of college tuition after 15 to 20 years!

5. Tell Your Kids to Keep Their Grades Up
Virtually all of the major car insurance companies offer some form of good student discount. If your kids get good grades then you save money. Some companies offer savings for a lackluster C while most offer savings for you that range from 5 percent to 15 percent if your student maintains a B or an A on their report cards.
Maybe it's time to pass along some of that savings to your kids as a financial incentive to keep their grades high (after all, why not just let the insurance company pay your kids to get good grades rather than you?)

6. Take a Driving Course
OK, maybe you don't want to tell your spouse that you are signing up for a driving course because no one wants to admit that they may not be the world's best driver BUT if signing up for a defensive driving course that will take up minimal time and save you money--why not?
After all, at least you aren't one of the world's worst drivers - at least I hope not! Taking a driving course just one time can result in lifetime savings on your car insurance.
Check with your car insurance company as to what type of courses and course providers they will recognize for a discount on your policy.

7. See If Your Occupation Can Save You Money
Did you know that when car insurance actuaries calculate car insurance rates that they actually assign different risk classes to different types of occupations? Some occupations have cheap car insurance rates while other occupations get assigned an added level of risk that increases their rates.
The various occupation risk assessment algorithms will vary from one insurance company to the next but generally speaking professions like engineering and teaching will receive lower car insurance rates than business owners and attorneys. So what do you call yourself if you are an engineer that owns their own business? You tell me.

by Toolib · 0 komentar