Showing posts from January, 2020

5 things worse for your car insurance than an accident

5 things worse for your car insurance than an accident It turns out that there are other driving infractions and changes to your insurance coverage that will crank up your auto rates even more than an accident. While a DUI is an obvious one, who would have thought that a lousy credit rating, adding a teen driver or even speeding tickets can result in a bigger bump than an accident? What raises your auto insurance rates more than an accident? We looked at 43 driving situations encompassing common tickets, accidents and scenarios to see which ones result in a higher rate increase than an accident. An accident claim means you will typically pay around 32%, or $459, more a year for insurance. How much adding a teen driver raises your insurance Adding a teen to your policy will hike your rates more than an accident. According to our data, putting a 16-year old male on your policy will result in a 160% increase, which translates into $2,292 on average. If your new driver is female, th...

Broad Form Personal Theft Insurance

Broad Form Personal Theft Insurance Broad Form Personal Theft Insurance covers the theft or loss of personal assets. DEFINITION of Broad Form Personal Theft Insurance Broad frorm personal theft insurance covers the theft or loss of personal assets. It can be placed on all personal property, and is on an all-risk basis meaning no matter whether the loss is from vandalism, theft or loss, the same coverage will apply. A limited form of broad form insurance is more commonly known as personal theft insurance. BREAKING DOWN Broad Form Personal Theft Insurance There are limitations on the coverage of personal assets which are most often subject to theft such as jewelry, coins and securities, among others. Personal assets insurance is commonly included in homeowners and auto insurance, however, additional insurance may be purchased. How Personal Theft Insurance Works This type of coverage is standard on homeowners and renter policies. The limitations and exclusions built into standard ...

Car insurance for young drivers – the key facts Young drivers’ car insurance is likely to be very expensive and as a new driver it’s good to know about different coverage levels and what affects how much you pay. Here you can find out everything you need to know about new driver car insurance, how to get the best deal and reduce your premiums. Young driver insurance tips So you’ve passed your test, you’ve chosen a car, and now all you need is insurance! If you’re driving without car insurance then you’re breaking the law. You could have your vehicle confiscated, be issued a penalty fine, and have to pay to have your car released. What’s more, if you’re uninsured and have an accident, you’ll be liable for the cost of everyone else’s injuries, their damages, compensation and repairs, even if the accident wasn’t your fault. You will lose your licence and may lose your job because of this. So whilst your car insurance may seem expensive to begin with, it’s nothing com...

Guide to multi-car insurance policies

Guide to multi-car insurance policies One of the easiest ways to save on car insurance is to insure more than one car on the same policy. When you get married, for example, you’ll save because married drivers tend to file fewer claims and thus get lower rates. A good driver discount requires a clean record. But a multi-car discount doesn’t require a lifelong commitment or scrupulous attention to speed-limit signs. Instead, it’s a reward for bringing your insurance company additional business. What are the requirements for a multi-car policy? Does the coverage need to be the same on each vehicle? Can I insure a car and a motorcycle on the same policy? What are the benefits of a multi-car policy? How big is a multi-car discount? Can I add other family members’ cars to my policy? What are the requirements for a multi-car policy? To obtain a multiple-car policy, you need to insure two or more passenger vehicles on the same auto insurance policy. It’s that simple. ...

Home and Auto Insurance Bundling - Saving on Insurance Bundling your auto and auto insurance policies under the same company is a convenient way to save hundreds on your insurance. More than half of Americans bundle their auto and home insurance. Those who aren't doing so are handing over more money to their insurers. Bundling your policies aren't always the best choice. You may get lower rates by buying separate policies from multiple companies, but it's a good idea to get a quote if you were to bundle policies. To find out if bundling is right for you, compare car insurance rates with and without bundling. What is bundling? Most insurance companies offer bundling discounts, which just means getting two policies from the same company. It's also called a multi-policy discount and you can find it on your policy's declarations page. Bundling has other advantages besides cheaper insurance: You deal with only one insurance company. You may be able to mana...