Posted by Tom Carolan on Thu, Feb 25, 2010 @ 05:55 PM
Auto
Changes in auto insurance are amongst the multitude of things to deal with in the case of divorce. As with practically every aspect of your life, there are many things to think about and act on when it comes to your auto insurance policy. If you faced with divorce, there are a number of different choices to be made in regard to your auto insurance. These need to be discussed with your auto insurance agent and possibly with your lawyer and/or your soon-to-be ex.
The following topics are the most pressing ones to address concerning the impact of divorce on auto insurance.
- If you get a divorce, and the family auto insurance policy is split up, typically rates will raise because you will no longer be eligible for multi-car discounts and possibly other discounts.
- How will an insurer treat coverage for a teenaged driver who is in a joint custody situation?
- When an individual driver goes from being a secondary driver to being the primary one on a policy, will it cause rates to raise or lower?
- When does an auto policy officially need to be separated?
- If a couple physically separates prior to the official divorce, how is auto insurance affected?
- Will a former spouse's credit, insurance rating or driving record affect the premium you are offered?
- How much will your new policy cost and will it be different depending on which vehicle you get?
- Does your state have its own specific laws concerning auto insurance policies and divorce?
- Can you drop an ex-spouse from your policy following a divorce without telling the individual that you have done so?
- Is it better to remain with the same insurance company you had during your marriage or shop around for a new one?
Most of these topics can be easily addressed and put to rest by an experienced, competent insurance agent. In fact, before you enter into discussions about your auto insurance with your spouse or your lawyer, it is advisable to get these things answered, so that you already have an idea of the best route to take in order to protect your own best interests. If your insurance agent is at a loss to give you concrete responses, check with your attorney who is familiar with all the different things that need to be dealt with in the case of divorce.
When it comes down to the bottom line, shop around for prices using a car insurance comparison tool. You may find that a new policy is a better deal than the one you previously had.
Posted by Tom Carolan on Wed, Feb 24, 2010 @ 06:40 PM
Working out the details of a divorce is an emotionally draining period of dividing up the aspects of a life once shared. Everything must be considered and difficult decisions made, in order to avoid future conflicts, omissions and errors that could prove costly and inconvenient for either side. Amongst the many things to divvy up in a divorce is the auto insurance policy. There are several different aspects to consider when deciding what to do with the auto insurance policy for a couple that is splitting up.
If each of you has separate policies, the process is simple. You remove the other person from your coverage and you are done. However, in most cases married couples have joint policies, in order to get discounts that they would not otherwise be entitled to. If you have only one car, you will need to begin by deciding who gets the car. Logic says that the one who has the car will also need the car insurance policy. This simplifies things greatly.
However, if you have more than one vehicle and each of you gets to keep one or more of them, typically only one person will get to keep the policy. The choice of who gets it should not create an unfair advantage for one person or the other. Talking to your insurance agent or shopping around for prices before making a decision will help you. If you have joint custody of your children and an amicable divorce, you may want to consider keeping the policy as is. You can share the joint insurance policy for a period of time following the divorce if your relationship allows for it.
Occasionally, the division of property in a divorce case in court will even include things like auto insurance policies. If the details of dividing up property have become cumbersome, often the lawyers for each side and a judge will end up making the final decisions. You can make requests to your lawyer in such cases, but things may not end up exactly as you wish.
Divorce is complicated and multi-faceted. Avoid getting bogged down in the details of dividing up things. Sometimes it is beneficial to give up some of the small easily replaceable things like the auto insurance policy in order to get more important things. Use common sense in your dealings with your ex-spouse and follow your lawyer's advice. By doing so, you will reduce the tension and stress surrounding you at this difficult time.
Posted by Tom Carolan on Wed, Feb 24, 2010 @ 03:11 PM
There are many drivers on the road that are considered to be high risk. They are the habitual speeding ticket recipients, DUI offenders and others who make bad choices. Driving a motor vehicle has its own inherent risk factors. By choosing to compound those factors with negligent behavior often leads to accidents, arrests, citations and more. High risk drivers who are arrested for such behavior are often incarcerated; fined; have their license suspended or revoked; have insurance premiums increased; or can possibly even lose their job.
The Impact of Speeding Tickets
Speeding tickets remain on your driving record for three years. Those who repeatedly get speeding tickets before older ones have lapsed are more likely to be deemed high risk. However, operating certain vehicles puts you more at risk of getting speeding tickets. Recent DMV record surveys indicate that Hummer drivers receive more speeding tickets than those who drive other vehicles. A ticket for exceeding the speed limit by up to 10 miles per or hour can result in 2 to 4 demerit points going on your driving record.
How Your Driving Record Impacts The Insurance Rates You Get
Insurance companies typically pull driving records when individuals apply for insurance or when the time comes for a change or renewal of the policy. The information found there is the basis of the insurance rate you are assigned. If you have demerit points for poor driving behavior you may find that you have become a high risk driver and that insurance is harder to come by. However, you can improve your record by taking driver's education classes to remove points.
Each insurer treats information found on your driving record differently. The weight given demerit points and other aspects of your record can vary greatly from one company to another. However, if your company raises your rates, expect them to remain that way for three years. If your driving record is worse than the insurer accepts, you will be deemed high risk and denied coverage. Because guidelines differ for companies, you may or may not find that all companies consider you high risk. If you are truly a high risk driver, as in the case of those with DUI convictions, you will need to get insurance quotes from companies that specialize in offering high risk car insurance.
The Impact of a Suspended License
If you lose your driver's license, it can affect your life in a variety of ways including interfering with your family obligations and possibly even causing problems in your career. Many jobs are contingent upon having a driver's license. If this is the case, a suspended license causes even more difficulties.
When your insurer learns that you have lost your license, your policy will be cancelled. This makes it even more difficult to obtain coverage when you need it again. Because of the cancellation and the suspended license you will likely have to go through a high risk insurance company in order to get coverage, which you will need to have in order to get your license reinstated.
The Importance of SR-22 Certification
A SR-22 Certificate is legal proof that you carry at least the minimum amount of liability coverage as required by law. You must provide this to the state in order to get your license reinstated. In addition, you should carry the SR-22 with you, so that if you are stopped by the police, you can produce it and avoid further complications. High risk insurers are familiar with this form and regularly issue it for their policyholders, who often need to have it for up to 3 years. Extra requirements such as this, and the risk presented by high risk drivers, contribute to such individuals having to pay higher than usual premiums. However, for most people car insurance is a necessity and therefore they must pay the consequences.
Tips To Improve Your Rates
In order to keep your rates as reasonable as possible, make sure that you have paid any moving violations that you owe, so they can be cleared from your record quickly. Take driver training courses to remove some of the violations from your record. You can also invest in a vehicle that is more safety conscious, less costly to insure and less likely to attract the attention of the police.
By putting these tips in place and shopping around carefully for coverage, you can succeed in keeping your car insurance costs as low as possible, considering your driving record.
Posted by Tom Carolan on Wed, Feb 24, 2010 @ 02:57 PM
Most people feel that car insurance is costly, and it definitely can be. If you happen to have a higher than usual risk of needing to make claims on your car insurance, you may see that your policy premiums are higher than other people's. However, it is possible to keep the cost of your coverage down if you shop around and compare prices, even if you are a high-risk driver.
The Definition of a High Risk Diver
High-risk drivers are those who, statistically speaking, present a larger risk to the insurance company of needing to pay out claims. Essentially an insurer takes on the risk of being financially responsible if the driver incurs a loss. Certain drivers, referred to as high risk drivers, are much more likely to be the cause of an insurance company making claims. For this reason, their rates are usually significantly higher to offset the higher risk.
Most high risk drivers come from two different groups. Young drivers under the age of 25 are one of those groups. Their lack of experience spells increased statistical likelihood of having accidents. For those young drivers who maintain a good driving record, the high risk status drops off at age 25.
The other type of high risk drivers are those who have earned the designation through their own actions. Those who have gotten charged with DUI, drivers with several speeding tickets within a certain period of time and those who have had repeated accidents are considered high risk and must pay a higher rate for insurance.
High Risk Drivers and High Premiums
High risk drivers have to pay higher premiums to cover the cost of increased payouts that are more likely to occur on their policy. Auto insurance covers things such as property damage, medical expenses and repairs. Claims for such things are likely to be more frequent and more costly for high risk drivers than for others. The higher premiums help to financially protect the insurer.
Tips To Save on the Cost of High Risk Auto Insurance
There are numerous ways that you can save money on the cost of high risk auto insurance. One of the most effective is to attempt to show that you are a good driver by taking driver's training courses when possible. Your choice of car will also help you save money on your premiums. Choose one that has good safety features and ratings, including factory-installed safety devices. Avoid sports cars and ones that are "tricked out" as they will simply make your premium rise.
The best method of getting a good rate on your auto insurance is to shop around and get prices from multiple companies. You can do so using a convenient and easy to use our car insurance comparison quote tool.
Posted by Tom Carolan on Tue, Feb 23, 2010 @ 10:59 AM
Auto insurance is a necessary evil for practically anyone with a car. In all states some form of proof of financial responsibility or car insurance is required. However, if you happen to be considered a high risk or non-standard driver, you may find that it is rather hard to find insurance for which you are eligible. There are
providers that specialize in high-risk auto insurance policies. Before you even start to look for a policy, it is important to know if you meet the criteria to be deemed high risk.
One of the situations that deem you to be high risk is if you need a SR-22 policy. The State Registry of Motor Vehicles often requires this if you have had your license revoked or suspended. The department should inform you if you need such a policy. www.InsuranceBestPrices.com will help you find the right policy to meet your needs and get you the documentation you need for the reinstatement you are seeking.
Age is a huge factor in auto insurance ratings. Drivers over the age of 70 years old may or may not be considered high risk. Many companies also often consider drivers who are 20 years old or younger high risk.
Another factor that makes a driver high-risk is if he or she has a habit of getting into car accidents and/or getting moving violations. Despite the fact that many insurers simply want you off the road, there are insurers who keep you behind the wheel with a policy that allows you to carry the necessary insurance you must have. In fact you are even rewarded for being a safe driver and having no new incidents on your record.
High-risk drivers receive "Non-Standard" insurance policies. These policies are not like the regular policies offered to most individuals. However, they do offer what is needed. More and more companies are getting into the market place and offering non-standard plans, so that non-standard is actually becoming more commonplace.
Get started today with a quote for non-standard policies that give you all the flexible rate plans as the others we discussed.
Posted by Tom Carolan on Mon, Feb 08, 2010 @ 04:55 PM
News Release From The Office Of Steve Poizner:
California Insurance Commissioner Steve Poizner today issued the following statement regarding Anthem Blue Shield's rate increases:
"I'm alarmed by the Anthem Blue Cross health insurance rate hikes, especially in a time when the recession has forced so many people into the individual health insurance market," said Commissioner Poizner. "State law requires that insurers spend at least 70 cents of every dollar of premium on medical care. I have instructed my department to hire an outside actuary to examine their rates line by line to ensure they are complying with this state law. If we find that their rates are excessive, I will use the full power of my office to bring these rates down.
Commissioner Poizner also reminded Californians who have to purchase individual health insurance that there are dozens of insurance companies to choose from.
"Just like auto and homeowners insurance, consumers can choose from nearly 70 different companies who offer health insurance in the individual health insurance market," Commissioner Poizner said. "As a consumer you need to shop around. A different provider may prove to be a better value for a particular individual or family's needs, and all of them are looking for new customers. I encourage consumers who are not happy with their rates, co-pays, benefits or service to look at other options."
Posted by Tom Carolan on Tue, Jan 19, 2010 @ 11:41 AM
Shopping for auto insurance is not the most enjoyable shopping experience. However, the Internet has made the process a whole less daunting. Now, shoppers have access to information and numerous quotes with a few clicks of the mouse. A few minutes online can arm you with all of the information you need to make the best choice for your auto insurance needs. But how can you know if you are paying too much for auto insurance?
Prior to the boom of insurance companies online, it was easier to just choose a local insurance agent and stick with the same plan, even if you had a suspicion that you were overpaying for the coverage. Now, there are more options and no good reasons to stick with overpriced auto coverage.
More than ever people are realizing the great benefit to shopping online for auto insurance. User-friendly comparison shopping means that the consumer can easily find the right insurance plan for a price that works even for tight budgets. High competition for consumers is another factor contributing to better deals in auto insurance.
A benefit to shopping online for auto insurance coverage is avoiding the guilt-complex you sometimes deal with when using a local broker. From constant phone calls to pressures to purchase more insurance, local agents can sometimes be an unwelcome hassle. Instead, online, you can comparison shop on your own and in your own convenient time-no agent required! This can be a time-saver as well as helping you to avoid feeling the heat from a pesky agent.
Using online comparison shopping tools is a way to find out if you are paying too much for coverage. You can compare and contrast different plan benefits and fees to determine the best deal. Search for online consumer reviews to give you a real-life perspective of a particular insurer or auto insurance plan.
Keep in mind that there are many factors that determining your final premium amount, such as driver age, driving record and car value. Find information about insurance companies online to determine how they will calculate your premium amounts. Most online insurance sites will help you to identify any costs associated with your premiums, so you know exactly what to expect from your coverage.
It's never been easier to shop for auto insurance. Using online insurance sites you can get all of the information you need and comparison shop to determine if you are paying too much for your current auto insurance.
Posted by Tom Carolan on Thu, Jan 14, 2010 @ 11:59 AM
It's no secret that insurance coverage is expensive. Whether it's medical, life, home or auto, it can be painful to shell out the bucks to make sure you are protected. Still, responsible citizens know it is essential to have good coverage, especially when it comes to
auto insurance and protecting yourself and others on the road. Although auto insurance can cost several hundred dollars each year, there are ways to save money and still have the quality coverage you need.
There are a number of factors that contribute to the cost of premiums for auto coverage, including:
- Age
- Driving record
- Where you live.
- Make and year of car
- Other risk factors
Going without auto insurance is not an option, as it is a legal requirement in the U.S. to have a minimum of liability coverage. Driving illegally without insurance is a great risk and can lead to serious legal and financial problems that can follow you for years to come.
Instead of focusing on the high cost of auto insurance, you can take steps to making your insurance premiums as inexpensive as possible while still providing the coverage you need. Below are ten ways you can reduce premiums for auto insurance coverage.
Tip #1 Comparison Shop
Before you purchase new insurance or renew a current plan, take time to research your options and do some comparison shopping. Premiums and benefits vary significantly from insurer to insurer, depending on your needs and the way in which you choose to set up payments. By analyzing different plans, benefits and prices, you are more likely to come up with the insurance coverage that you no is right for your unique needs, instead of just paying too much for a cookie-cutter plan. Most websites offer tools to help you simultaneously obtain quotes from different providers at one time, so you can compare and contrast
Tip #2 Increase Your Deductible
This isn't right for everyone, but for some customers it makes sense to increase the deductible, which in turn lowers your premiums. However, you must keep in mind that if there is an accident or another auto issue, you will have to pay out of pocket to meet the deductible amount prior to insurer paying.
Tip #3 Earn and Maintain Good Credit
When it comes to auto insurance maintaining good credit scores allows you to obtain better discounts on coverage. An insurer views a good credit score as someone who is at lower risk to accidents and more trustworthy, therefore, they will offer you lower rates for an insurance plan.
Tip #4 Go Green and Save Green
By striving to be as eco-friendly as possible with your automobile, you will become eligible for discounts from auto insurers. Most major insurance companies offer special deals for customers who choose eco-friendly cars.
Tip #5 Lower Mileage
If possible, keep your mileage as low as you can in order to qualify for a low mileage discount. Whether you choose to carpool, use public transportation or take a bike to work, you can decrease the miles you put on your car and reap the monetary savings.
Tip #6 Avoid Using Your Car for Work
Cars utilized for work tend to result in higher premiums for coverage than those just used for personal use. You can save money by saving your car for your personal reasons
Tip #7 Find a Multi-Car Policy
A group auto policy can result in significantly less premium costs than you would pay for the cars' coverage individually. Most auto insurance providers will offer special discounts if you put more than one car on the plan.
Tip #8 Check Your Memberships
Some organizations and clubs offer discounts on auto insurance as a perk for being part of the group. One such group is AAA, but there are others. Check with any organizations you are a part of to find out if they provide such benefits.
Tip #9 Keep a Good Driving Record
If you can keep a violation free driving record for three years, you may become eligible for special discounts on auto insurance, depending on your insurance company of choice. Keeping a clean driving record, meaning no traffic violations, no accidents, etc, lowers your risk as a client, so the company will likely decrease your premiums.
Tip #10 Get All Insurance in One Place
Some companies will offer substantial discounts on coverage if you choose to purchase multiple plans through them. For example, you could get life insurance, home, medical and auto from the same Insurer. Companies like to reward loyal customers!
Posted by Tom Carolan on Mon, Jan 11, 2010 @ 03:31 PM
Although
auto insurance rates in New York are decreasing, motorists in the state are still paying high premiums. Reports show New York State's
auto insurance rates are the third highest in the U.S., with motorists paying an average of $1,179 for premiums in 2007-the most recent year statistics were provided, according to the National Association of Insurance Commissioners' annual report.
The premium rates are actually 2.8 percent lower than they were in 2006, and higher than the national average which had a decline of 2.6% at $912 for average premium amounts.
While drivers in New Jersey have been known to pay the top premiums in the U.S. for a number of years, the statistics have shown a recent decline in premiums, bringing the average premium amount to $1,228-down 4.5 percent since the year 2006.
This makes them ranked as paying the second highest premiums in the country, while Louisiana took over the top spot on the ranking list with an average premium amount of $1,262.
On the flip side, the state of Iowa comes in with the lowest rates in the nation at $620 average yearly premiums, and Wisconsin follows close behind with $642, and then North Dakota at $658.
According to Russell Haven with the New York Public Interest Research Group, New York State is taking steps to move in the best direction for its motorists, yet the move is gradual. In fact, New York has seen a rate drop of over 10 percent since they year 2003 during a time span in which the national average drop was only 4.7%.
The Insurance Information Institute's Robert Hartwig refers to the competitive nature of New York's market for decreasing premium rates, and explains that any declines are positive news for New Yorkers who are feeling the heat from the current economic recession.
Posted by Tom Carolan on Mon, Jan 11, 2010 @ 03:11 PM
Even after dropping customers, State Farm will continue to be the largest private
home insurance provider in the state of Florida, according to a statement from McCarty's office. Another top insurer, Allstate Corp., comes in at number seven as the largest insurer of homes in the state, and also went through a reversal last year. The company based out of Northbrook, Illinois, reversed a 4 year old policy of not accepting new homeowners in Florida and began accepting new consumers.
The private state-run company Citizens Property Insurance will likely use municipal bond sales to pay for claims after any future storms or other disaster. According to Hartwig, the recent year's credit problems for the state of Florida mean that borrowing money had the potential to bankrupt the state. More risk needs to be backed by private insurers and less by the state, said Hartwig.