Archive for auto 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. 


Psychological & monetary relief – 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…

Top five Car Covers

If you happen to be shopping around for quotes or researching policies in order to find the perfect car cover for your needs, you may be trying to narrow down the best of the best. There are several key components to seek out when looking into auto insurance. Some of these crucial elements include pricing and actual value.

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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’s 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 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.

Correct Tire Pressure Can Increase MPGs.Tires

The Most Dependable Cars 2012

How often do you think about your tires. For most people considering purchasing new tires is just about the only time that comes into the mind. Tires are not an inexpensive purchase for your vehicle. Not only did it cost money but they also ensure safety while driving. In addition to safety, correctly inflated tires can last longer and even improve MPGs.

You don’t need expensive equipment or an expert to check the air pressure in a tire. For starters you can look at your tires and if they appear flat it probably means they’re low on air. To check air pressure in the entire you’ll need a gauge. They can be found at gas stations and are located on the tire hose.

Check your owners manual to learn the recommended air pressure for your vehicle’s tires. Never go above or below the recommended levels. Staying at the high end of normal is safe and you may see you the best gas mileage there. If you really want to splurge then go to your local auto parts store and purchase a tire gauge for a few dollars. Check your tire pressure weekly and make sure everything is properly inflated. You cannot only save money on improving MPGs, but also you can make your tires last along time.

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