Archive for insurance

Why Car Insurance Has Become So Important These Days?

We often come across the car owners that unfortunately meet with accidents on the road or other types of damages to their vehicles on account of theft or other fraudulent activities by the unscrupulous persons, putting the former to great inconvenience and financial losses apart from health problems too in some cases. That’s where the car insurance companies help them greatly for which the owners have to shell out few dollars in the shape of insurance premium on the set schedules. Such negligible payments are advantageous by relieving the car owners from different worries in many ways. 

auto-hail-damage-claims

Psychological & monetary relief ‚Äď The small payments in the form of the insurance charges paid on the set timings to the car insurance car companies give mental relief to the owners of the vehicles. They feel relaxed from the mental stress due to the possible accidents or other sorts of problems created by the miscreants who may either steal the cars or damage them causing financial loss and other complexities. Being prone to accidents, the car owners can possibly injure other persons or themselves get hit by other vehicles due to their own faults or of the other drivers. Car insurance companies take care of the owners by making the financial losses good through the compensation awarded to them or the other affected persons. The damage to the cars is also got repaired at the expenses of the insurance companies after being informed by the car owners. Thus, the latter remain at peace of mind after purchasing the car insurance cover that relieves them from all sorts of worries, e.g. ill effects of accidents in terms of money, losses due to damages or theft etc.¬†¬† Read More…

The Car Accident Insurance Calculator for the United States of America

This tool that estimates how much your insurance rates will increase after an at-fault accident (per US state).

http://www.dmv.com/car-accident-insurance-calculator

How to Effectively Recover from Driving Infractions

Good Morning,

I am working on an article about how to effectively recover from driving infractions. The article will explain common things that happen to drivers, such as speeding tickets, car accidents, seat belt infractions, and other traffic violations and the effects on insurance. I will also explain a few things you can do to get you through the expensive mess at the DMV and small tips to save money along the way. Most every driver goes through this at some point. This article will better educate your readers on how to handle these situations in the future.

Let me know what you think.

All the best,
David Baldwin

Save Your License: Cleaning Up a Messy Driving Record

Driving is an activity that most of us take for granted. The only way we realize that driving is a privilege and not an entitlement is when we run the risk of losing our driver’s license.¬†

It’s easy to become a careless driver, especially when we’ve been driving for decades. Getting a ticket for speeding or running a red light only makes some drivers angry rather than rethinking their driving habits. Even hearing about tragic accidents, like the one in November in Houston, does not make those drivers want to change. The¬†Houston Chronicle¬†reported a gruesome accident in which a driver was killed. The Harris County constable’s office told the¬†Chronicle¬†that the driver was speeding past an accident on a Houston tollway when he was decapitated by a sharp object from a pickup truck parked in the shoulder of the road.

Losing your driver’s license

Drivers can ruin their record and get their license suspended in a variety of ways. Among them are:
driver's license
1. Failing to pay for traffic tickets.

2. Failing to pay child support or alimony.

3. Accumulating too many points on one’s driving record.

4. Driving without insurance and vehicle registration.

5. Being convicted of a drug charge.

6. Refusing to take a breathalyzer test when police suspect a driver of being drunk.

How to restore your license

Drivers facing suspension of their licenses or who had their licenses suspended are given a second chance to redeem themselves under most state laws. Here are a few ways drivers are allowed to get their licenses reinstated or get a few points shaved off of their driving record: 
1.¬†Go to traffic school.¬†Defensive driving courses review traffic laws, safe driving techniques and show individuals the risks they are taking by being a careless driver. The state of New York offers a “Point & Insurance Reduction Program” for drivers with suspended licenses. Drivers who successfully complete the course receive a reduction of 4 points on their driving record and a minimum 10 percent reduction in the base rate of their auto liability and collision insurance premiums for three years.

2. Obtain a SR-22 form.¬†Drivers convicted of drunk driving might be required by the Department of Motor Vehicles to file a proof of insurance form called, SR-22. Having to file the SR-22 form means that you’re a high-risk driver and have to pay a higher rate for auto insurance.

3. Plead no contest to a misdemeanor driving offense. Rather than admitting guilt to the offense, drivers are advised not to contest the citation or state their innocence. Pleading no contest may help avoid an insurance rate hike.

Special conditions for drunk driving

Drivers’ licenses are automatically suspended for individuals arrested for driving under the influence of drugs and alcohol (DUI) or driving while impaired (DWI). In these situations, drivers stand a better chance of getting their licenses reinstated, and possibly avoiding jail time, if they hire representation, whether this means a DUI Attorney in Houston or a criminal defense firm in Seattle. Drunk driving is a serious offense that drivers should not handle on their own.

Cleaning up a driving record first starts with a decision to follow traffic laws. Not only will this reduce points and restore a license, it may save the driver’s life and another person’s life as well.

Molly Pearce is a freelance author and concerned motorist who often centers her work around the topics of law and human rights. She gets most of her information from reliable online sources and for this post she referred to the legal site of a DUI Attorney in Houston to complete her research.

Photo credit- http://flic.kr/p/dcujSo

The True Cost of Car Ownership: Why You Must Seek Out Savings as a Motorist

While it is something of a cliché to suggest that owning and operating a car is costly, this does not mean that it does not have a basis in fact. In fact, recent research would suggest that it is a serious issue in the UK, where it costs an estimated £3,500 each year to run a fully-functional vehicle. While this is a huge amount of money by itself, it is even more costly when you consider that Britain is currently considered as the most expensive nation for running a vehicle. According to estimates, the cost of running an average family vehicle is £2,000 higher in the UK than it is in China, America and France.

Photo by Cuba Gallery

Minimising the Costs of Car Ownership in the UK

With this in mind, what practical steps can British motorists take to cut the cost of car ownership on an annual basis? Consider the following: –

Consider Switching to a More Fuel-efficient Vehicle

The primary cost of car ownership is purchasing fuel, which costs British drivers an estimated £2,256 each year. This is more than two-thirds of the £3,500 that motorist spend each year on their car in the UK, so it may be wise investing in a fuel efficient vehicle as a way of cutting longer-term costs. This market is continuing to evolve at a rapid pace, meaning that as a consumer you will be able to select from a wider range of cars at increasingly affordable prices.

Cut the Cost of Insurance Premiums

Insurance premiums also take a heavy toll on drivers in the UK, with a typical premium costing between £800 and £1,000 per annum. There are several ways that this can be reduced, however, particularly if you are willing to use your existing terms as leverage to negotiate more favourable policies with alternative providers. If you are committing to saving money in the long-term, you may also wish to complete an advanced driving course or adding an experienced second driver to your claim application form. To find out more, consider visiting the AXA Insurance website at your earliest convenience.

Learn the Basic Arts of Car Maintenance

The third most financially challenging aspect of car ownership is maintenance, although this cost varies depending on the age, performance and longevity of your vehicle. While some maintenance and repair tasks are decidedly complex and require professional expertise, however, there are more basic elements that you should be able to complete independently as a cost cutting measure. Tasks such as changing your oil or tyres provide the ideal starting point, as although they are relatively labour intensive they are also simple and not particularly time-consuming.

With insurance premiums likely to continue to rise in the forthcoming year, it is increasingly important that motorists strive to minimise their costs where necessary. Without adopting an aggressive and proactive approach towards achieving this, you run the risk of being overwhelmed by the cost of fuel, planned maintenance and insurance premiums.

The Real Cost of Car Ownership: From Purchase Price to Insurance Premiums

New car sales have soared at the beginning of 2013, continuing a trend that was first established in the final financial quarter of 2012. The total volume rose by 5.9% along during March and has continued to soar since, and this reflects both a surge in consumer confidence and the dramatic rebirth of the automotive trade as a whole. While this undeniably positive news for the nation as a whole, however, the costs associated with procuring and owning a new car are considerably high and must be given careful consideration before any firm financial commitment is made.

Considering the True Cost of Car Ownership

With this in mind, what are the individual costs that determine your overall liability as a new car owner? Consider the following: -

  • Purchase: The first cost that you will need to consider is the purchase price of your chosen model, which will vary depending on the manufacturer in question and vehicle‚Äôs unique specification. While your first instinct may be to negotiate on the sale price, this is more difficult with new cars as their value is determined in line with the existing market. You will therefore need to compromise on your chosen vehicle, and consider the long term impact of monthly finance repayments. While even high ticket prices can be paid in monthly instalments over an agreed period of time, you will need to ensure that you have the capacity to meet this commitment without fail.
  • Insurance Premiums: Perhaps the most important cost associated with car ownership is related to insurance, as without viable coverage you are not permitted to drive on UK roads. You will usually pay your insurance premiums on an annual basis, but the cost can soar depending on your age, history and level of experience as a driver. There are several steps that you can take to minimize this cost, however, and shopping around to compare a comprehensive range of deals is an important stepping stone to achieving this goal. If you are a young or inexperienced motorist, then you may also wish to add another car owner to your claim, so long as they have a clean driving history and years of expertise behind them.

  • Maintenance: Maintenance is a cost consideration that can all too easily be avoided by motorists, under the mistaken belief that they can save money by ignoring minor faults or blemishes. This is a flawed strategy, however, primarily because ignoring damage in the short term can lead to more serious issues that require a significant amount to repair. By investing in a regular program of maintenance from the moment that you purchase your car, you can dramatically reduce the cost of long term vehicle ownership. In addition to this, you may also look to learn various car maintenance techniques, especially simply exercises such as changing tyres and replacing oil.

The Bottom Line for Consumers

Before you purchase a car, you will need to consider the true cost of ownership and your responsibility as a motorist. This will have a direct and positive influence on the decisions that you take as a driver, especially with regards to the amount that you spend on purchasing a new car, maintenance and your insurance coverage. This applies to both recreational and commercial drivers, so to find out more about your financial obligations as a motorist visit www.onesureinsurance.co.uk today.

What Really Determines the Type of Auto Insurance You Need?

There are hundreds of different insurance companies offering competing products for auto insurance. From the budget minded companies to the full personalized service policies that offer a local agent in every community, each policy has multiple options from basic collision coverage to add on riders that can offer anything from tire changes and jump starts to million dollar umbrella policies to protect the financial liabilities of businesses and the self-employed.

Appraising your Auto Insurance Options

With so many options, it is very difficult to actually compare policies sometimes. Simply taking the lowest price no longer works because of the many differences in coverage provided. The budget minded policies will tell you to look at bottom line price while the higher end policies will remind you that you can’t compare apples and oranges and to look at the protection levels and extras included. Neither are wrong or poor advice but that does not help the problem when choosing a policy.

So what can you do? The best way to start your insurance shopping is by reading the fine print of your auto loan. While it is not likely any company will sell you an insurance policy that does not meet the minimum limits for your state and location, since every bank and finance source has the option of adding stipulations for coverage levels as part of a loan it is not at all uncommon to purchase a policy and find finance source deems it unacceptable after the fact.

Understanding the Role of your Bank

It may seem unfair to hear that your bank can dictate what insurance you carry but remember your car is the collateral for the loan. It is in their best interest to make certain that your insurance is adequate to restore the vehicle to an acceptable following an accident or pay off the loan in the event of a total loss (at which point they actually have no collateral for the loan any more). Further, just like they run a credit report to ensure your ability to pay off the loan and assess the risk of the loan, they know if you are financially ruined by inadequate insurance following an accident that it is unlikely they will receive full repayment.

Coverage amounts such as property damage, medical limits, and total claim per incident (typically expressed in a format of ($50k/$100K/$300k) and maximum deductible amounts (while may allow a deductible of $1000, some restrict that to $500) are commonly spelled out in your finance agreement. Careful perusal of your finance contract will tell you if your lender has requirements so you know when shopping for insurance where to start and the minimum coverage to purchase. This will prevent changing policies only to get a letter or phone call a week or two later telling you to buy more insurance or pay off the loan in full.

What Motorcyclists Injured in an Accident Should Know

 

110505-F-DN954-661According to the National Highway Traffic Safety Administration, 81,000 motorcyclists were injured in vehicle accidents in 2011. Over 4,600 motorcyclists were fatally injured in that same period. Motorcycles are grossly over-represented in accident statistics; despite comprising only three percent of all registered vehicles in the United States, motorcycles comprise 14 percent of all traffic fatalities. While maintaining one’s presence of mind after a bike accident may be difficult, knowing several things can help prevent the damages from becoming much worse.

Other Vehicles Involved May Flee

After causing a motor vehicle collision, many drivers will ignore their legal obligations to stop and exchange insurance information. This is particularly common in accidents involving motorcycles, which usually involve a disabled motorcycle and a drivable passenger vehicle. One of the first things to do after an automobile accident involving a collision with another vehicle is to memorize the license plate as well as the make and model of the vehicle. If the other driver does run, he or she can be identified and held liable for the accident.

Prompt Medical Attention Can Identify Hidden Injuries

Any motorcyclist involved in an accident should seek medical attention as soon as possible after the incident. Some motorcyclists are lucky enough to walk away from accidents with few discernable injuries. However, the extent of your injuries cannot be determined at the roadside. Latent injuries can be fatal or result in prolonged difficulties. Nerve damage and even broken bones are often dismissed initially as temporary pain. Traumatic brain injuries often involve very little pain.

Documenting the Scene is Likely to Help Later

Accidents often involve differing interpretations of what transpired and about the conditions surrounding the accident. This can be frustrating for victims of negligent drivers and can hamper chances of recovering compensation later. If victims do not act quickly, witnesses can disappear and video footage can be overwritten.

Documenting the scene is not always feasible for the rider after a motorcycle accident. Motorcycle riders have little protection from collisions with solid objects and their own inertia and even low-speed collisions can result in serious injury. However, if you have the mobility and presence of mind to do so, you should take as many photographs of the scene and any other vehicles involved as possible. Obtain the names of witnesses and copies of the police report.

The Biker’s Riding Habits Will be Scrutinized

Every motorcyclist knows that responsible riding habits reduce the chance of being involved in an accident. However, they are equally important after an accident. When determining fault, law enforcement officers and insurance companies should look to which party adhered to state law and which party did not but can sometimes be biased. “Insurance companies often try to exploit motorcyclists and label them with a reputation for bad and reckless driving,” says one West Palm Beach auto accident lawyer.¬†Motorcyclists generally have the same rights and obligations as passenger cars on the roadway, although the circumstances surrounding the incident may not be immediately clear. This underlies the importance of documenting the scene and obtaining information from witnesses.

The issue of fault will be pivotal in the event that the accident leads to litigation. As part of a claim for negligence arising from a motorcycle accident, the plaintiff must prove that the defendant owed a duty of care that he or she breached. The specific breach will be different for each accident, although careless driving habits are a common theme. Even mild misconduct can jeopardize a motorcyclist’s chances of recovery, however. Similarly, insurers may also assign a grossly disproportionate amount of fault or even deny a claim altogether.
Legal Representation Can Assist With Recovering Damages

If the accident was caused by another party’s negligent act, they or their insurance company may attempt to offer a token settlement in the hopes of resolving the matter quickly. These settlements often seem attractive to cash-strapped victims who have mounting bills and find it difficult or impossible to work. However, such settlements rarely cover the full extent of the damages caused to injured victims and almost never include compensation for lost wages and late fees for other bills.

Motorcyclists are 30 times more likely to be killed in an auto accident than passenger car operators per vehicle mile traveled. Many of these accidents arise due to the fully preventable negligence of other parties. Whether they are injured or not victims of such accidents should identify the parties involved and gather as much evidence as possible after the accident.

Before accepting any settlement, motorcyclists should consult with an attorney experienced in handling cases arising from automobile accidents, as being victimized twice by an incomplete settlement offer is possible. Competent legal representation ensures that victims are fully educated about their rights under the law and receive a fair chance in the courtroom.

Free-lance artist and author Molly Pearce is a lover of the open road herself and owning a bike is included on her list of future endeavors. She shares out of concern for the dangers that motorcyclists face on our roads and the difficulties they have in protecting their rights. West Palm Beach auto accident lawyer, Steinger, Iscoe, & Green, have defended hundreds of Florida bikers who were injured or harmed in motorcycle accidents, and have a track record of success in this practice area.

Photo credit- http://www.flickr.com/photos/63590594@N05/5853780966/

Optimizing your Automotive Investment: How to Get the Most from your Car Financing Agreement

Car financing often represents an understated and sizable commitment, as consumers are forced to repay their burden through fixed monthly repayments. The minimal nature of these payment can distort the perception of your overall liability, which in turn could lead you to underestimate its importance or level of priority. When you consider that the total amount repayable is inclusive of an agreed interest rate and the secured nature of the loan, however, car financing is in fact a serious investment that must be safeguarded if it is to deliver tangible returns.

Optimizing your Automotive Investment: 3 Steps Towards a Brighter Financial Future

With this in mind, it is important that you take every conceivable opportunity to optimize your automotive investment. Consider the following: -

                  • Adopt a Proactive Approach to Car Maintenance: Your car financing agreement will be repaid over a fixed period of time, and it is imperative that your vehicle remains operational during this period. Failure to do this will mean that you are repaying your car long after it is forced off the road, so there is a pressing need to adopt a proactive approach to maintenance. While you can start by learning how to perform rudimentary tasks such as oil changing independently, you should also commit to funding regular inspections of your vehicles key components. While this may cost an initial sum of money, it will protect your investment and any future returns.

  • Stick Rigidly to the Terms of your Agreement: The total sum of your car financing agreement includes the value of the vehicle and fixed interest, but this can be significantly inflated by late or missed repayments. As additional charges are applied when you fail to adhere to the terms of your agreement, you will find that the value of your investment slowly diminishes while your overall liability soars. By striking an affordable deal that allows you to make comfortable monthly payments consistently, you will keeps costs to a minimum and help get the most from your original commitment.
                  • Prepare your Car for Resale: The key to optimizing any investment is to adopt a long term outlook, which in this instance means that you should give careful consideration to your cars resale value. While most models are destined to lose value over time, you can take steps to minimize these losses and achieve the best possible price when the time comes to sell. With this in mind, you should refrain from making bold alterations to your vehicles interior and ensure that any purchased accessories add genuine operational or artistic value. Without this consideration, you may ultimately trigger a decrease in value while also alienating potential buyers.

In Conclusion

While it easy to underestimate the magnitude of your car financing agreement, you should never lose sight of the fact that it represents a serious investment. There are therefore practical steps that can be taken to optimize your financial commitment, enabling you to maintain the performance of your car, reduce operational costs and boost its eventual resale value. On a final note, you should also consider using reputable insurance firms such Autoline to access innovative policies that help to reduce your financial burden.

Different Financial Options When van Shopping

Van is important for your business. The financing of a commercial vehicle needs to be assessed so it fits in with both your requirements and within your financial boundaries.

Regardless if your business is local or global, vans can be a fundamental element in the running of the services that your company provides.

When you are shopping for a van there are generally four main options to consider:

  • Van finance leasing.
  • Van lease or hire purchase.
  • Van contract hire.
  • Outright purchase of the van.

Van Finance Leasing

The first option we are going to look at is the option of van finance leasing. This option offers great benefits to a business in respect to both cash flow and tax deductable savings. Van finance leasing is a scheme that has been introduced to be of benefit to Self Employed and Sole Traders and Limited and Partnership Companies.

Van finance leasing is usually set up by an agreement covering the following aspects:

  • Length of leasing period (generally 1-5 years).
  • An initial deposit, which can vary depending on how much you wish to outlay.
  • The value of the vehicle.
  • An agreement of a balloon final repayment at the end of the leasing period, which will also determine the cost of the monthly repayments.

Van finance leasing is generally a fantastic way to finance a vehicle. It offers the benefit that every payment on the van is tax deductable, meaning that you will get back a large slice of your outlay providing that the van is used for employment use only.

Van Lease or Hire Purchase

A van lease or hire purchase differs from a finance lease. The reason being you will agree on a repayment scheme knowing that at the end of the repayment period you will own the vehicle.

The advantages of a van lease or hire purchase are as follows:

  • The option to reduce monthly costs by agreeing a pre-purchase cost of the vehicle.
  • No mileage restrictions.
  • An alternative line of credit that does not interfere with your bank finances.
  • Balloon repayments options.

Contract van Hire

Contact van hire is the most popular option for companies in respect to VAT benefits. Many companies are now turning to this method as it also offers a minimal outlay on costs in respect to maintenance and vehicle relief. Contract hire packages offer such benefits as:

  • Tax deductibility in respect to the vehicle value.
  • Flexibility whilst within contract.
  • No disposal issues.
  • Road fund license for the length of your contract.

The major benefit for contract van hire is that all the aspects of the running of the vehicle are covered in one agreed cost. Even though you will not own the vehicle you are comfortable with the knowledge that your fixed monthly payment insures you from any unforeseen circumstances. Obviously this is providing that you have included them in your contractual agreement.

Outright Purchase of the van

Obviously the last option for obtaining a van is to buy it outright. There are many advantages to buying a van outright such as:

  • The van is totally yours and becomes an asset for your business.
  • If you are paying cash you are in better position to bargain with the dealer to get the best price possible.
  • You have no restrictions on such things as mileage, which is quite common in lease and hire contracts.

These are the various options open to you when you are looking into obtaining a van. The most important aspect to consider is what option suits you best in terms of cost.

About the Author:

Established in 2002, Global Vans is a premier provider of vans in the UK. They offer a wide range of vehicles from several manufacturers, dealers, and leasing companies.