Millions of people are driving around each day risking their financial future without knowing it. Most are conscientious citizens who carry auto insurance, but they are not prepared for what can occur if they happen to be involved in an injury collision with an uninsured or underinsured driver.
Based on most U.S. state laws, these drivers expect the other driver’s insurance to pay for their medical bills automatically. But that is not necessarily what is going to happen. If you’re not careful, your life savings may end up paying for your medical expenses even if the accident wasn’t your fault.
How can this happen? All too simply. If the driver Read more . . .
One thing that seems clear about auto insurance: drivers know they have to get it, but, despite that, they just don’t “get it.” When it comes to understanding auto insurance, a high percentage of the population has difficulty grasping the subject matter. And while you might think older drivers have a better handle on the nuances of car insurance than younger, less experienced drivers, the statistics say that’s fallacious.
In an online survey of 1,000 teens and 1,000 adults, the Progressive group of companies found that adults were no more Read more . . .
Depending on where you live, your quotes for auto insurance premiums may have increased by nearly 22 percent–or decreased by almost 14 percent–during the past year, reports Insurance.com, the largest online auto insurance agency in the United States. That’s why shopping for car insurance can pay off in savings.
Insurance.com’s 2004 Auto Insurance Pricing Report highlights the average change in auto insurance premium quotes on a state-by-state basis, based on actual pricing information from 12 of the nation’s leading auto insurance companies. The quote information was collected from more than 100,000 car insurance quotes provided by Insurance.com to its customers in 2004. Read more . . .
Way back in the good ole’ 1960s car buyers spent about 25 percent of their $8,000 median income on a new car. Today, consumers can expect to pay $27,000 for a new automobile, more than half of the median $48,000 U.S. household income. Times have changed, but has your insurance kept up?
Consider liability coverage. Today’s minimum liability limits for auto insurance were established in 1967, when financial responsibility laws were adjusted to meet the Read more . . .
Much to the relief of consumers, auto insurance rates have come down over the past year. In 2004, rates dropped an average 10.6 per cent and continued to decrease in the second quarter of this year by about 1.62 per cent. Reasons for the decline in one jurisdiction, Ontario, include:
- More Competitive Marketplace–Recent high-profile advertising by the insurance industry indicates a positive environment for insurers. The result is more choice for drivers looking for the best deal on auto insurance. And there’s more good news: The provincial government has introduced new measures to protect consumers who are shopping for auto insurance. Some highlights: Read more . . .