Do people with red cars really get more speeding tickets than those with blue cars? Do auto insurance companies use the color of your car to determine your Auto Insurance rates? Do certain colors increase your chance of an accident?
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The color of my car determines my auto insurance rate. My credit score has no bearing on my insurance premium. I have auto insurance coverage so my new car is already covered… right?
Maybe not! Below is a list of fallacies many car owners believe and drive by each day. The truth just might make you change course.
Myth #10 “No-fault insurance means it’s not my fault!”
False. No-fault insurance means that your auto insurance company pays for your damages regardless of who’s at fault. (more…)
You probably know that lenders use information in your credit report to determine if they’ll give you credit. But did you know that in some states, insurance companies also consider your credit history? Good or bad, your credit history may affect your ability to purchase homeowners or auto insurance coverage and help determine what premium you’ll pay. (more…)
When it comes to auto insurance rates, who you are determines what you pay.
Automobile insurance premiums are based on a large number of factors, some of which you can control, and some of which, alas, are incontrovertible facts of life. Statistically, a sixteen-year old boy with a 300 horsepower sports car in a big city is far more likely to hit something than a 35 year-old married guy driving a minivan around the suburbs.
While you can’t change your age and some other factors, there are things that you can do to keep insurance premiums as low as possible.
Factors you CAN’T change that impact your auto insurance rates: (more…)
Most people complain about the cost of their auto insurance – hardly surprising, given that a typical policy costs at least several hundred dollars a year. Depending on your age, driving record, and other factors, your annual premium can be significantly more than that. So how can you lower your premium and save yourself money?
If you own a car and drive it, going without insurance is generally not an option. In most states, you are required by law to purchase a minimum amount of liability coverage. And you should probably have more than just the bare minimum if you want to provide yourself with adequate protection. There are steps you can take, however, to reduce your auto insurance costs without having to cancel your policy. Some or all of these steps may be appropriate for you, depending on your circumstances.
Specific ways to save money on auto insurance: (more…)
Laptop, book money, bean bag chair, TV with DVD player, iPod, cell phone, shower tote and debit card—sounds like your college-bound teen is all set to start school! But are they ready to handle the responsibilities of driving on campus? Sure your teen driver knows how to navigate around your home town, but going to college means driving in an unfamiliar territory—one with more pedestrians, new distractions and new destinations. Auto Insurance and Driving Tips for College-Bound Students and young drivers. (more…)